Are you looking for a Healthcare franchise? Owning a franchise can be a great way to create a lucrative opportunity out of serving healthcare, medical supplies, and a range of personal care products. Yes, you can do so by becoming an owner of the Netmeds franchise.
In this article, we’ll dive deep into the Netmeds with capital requirements, fee, profit, and step-by-step guidelines to get this franchise – and answer some common questions about the chain.
- Industry: Pharmaceutical and Healthcare
- Parent company: Reliance group
- Founded: 2015
- Revenue: $1.03 million
- Total Initial Investment: Rs. 10 lacs to 15 lacs
- Profit: Rs. 1lacs to 2 lacs
- ROI: 18-24 months
Table of Contents
Overview of Netmeds Franchise
Established in June 2015, draws its legacy from 100 years old parent company – Dadha Pharmaceuticals, Netmeds.com is one of India’s most trusted, renowned, and rapidly growing pharmacies, dispensing quality medicines at reasonable prices to over 7 million happy customer across India.
Having a dynamic legacy of over 100 years in the pharma industry makes this chain to full fil consumer’s medical needs and establish themselves as the first choice of over 4 million+ satisfied customers. With its quality services, delivering essential at right time and at affordable prices, and Pan India presence, netmeds.com has placed themselves as one of the leaders in the industry.
The chain covers entire facility right from purchasing medicines online, lab tests or online doctor consultations, they’ve got it all covered for customers!
Netmeds is also renowned as India’s first-ever mega online pharmacy, offers a complete range of medicines and over-the-counter items, including vitamins, diet/fitness supplements, herbal products, pain relievers, mother care products, beauty care products, and many more.
Please continue reading if you are passionate about the Healthcare franchises & this little snippet about the Netmeds chain excites you.
We will offer comprehensive and well-researched information regarding the Netmeds chain, along with its price, fees, profit margin, and—most importantly—the reason “Why” you need it.
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Netmeds- The Journey
Started its journey under its parent company – Dadha Pharmaceuticals(Now Netmeds is owned by Reliance) to offer a range of high-quality, affordable, authentic prescription medicines, and lab tests, Netmeds has garnered a loyal customer base of over 4 million satisfied customers.
And more stores opening in future will create an enormous opportunity for its interested prospects to join in the ever-growing and evolving pharma industry.
Key facts on Netmeds
| Sr No. | Type | Private |
| 1 | Trade Name | NetMeds.com |
| 2 | Industry | Healthcare and Pharmaceutical |
| 3 | Founded | 2015 |
| 4 | Founders Or Parent Company | Pradeep Dadha Parent Company – Dadha Pharmaceutical. Now Netmeds is acquired by Reliance |
| 5 | Corporate Headquarters | Chennai |
| 6 | Number of locations | Enormous presence on digital platforms, and over 30 plus brick and mortar outlets |
| 7 | Area served | Across multiple indian cities |
| 8 | Model | Digital platform and FOFO, only for eligible and certified pharmacists |
| 9 | Services offering | medicines and over-the-counter items, homeopathy, and lab tests |
| 10 | Revenue | $1.03 mn (Rs 7.7 crore in FY20) |
| 11 | Website | https://www.netmeds.com/ |
How much does a NetMeds Franchise Cost?
To start a Netmeds franchise, one would at least require an initial investment of Rs. 10 lacs and a dedicated floor area of over 200-250 square feet to set up a brick and mortar retail space. This initial investment for Netmeds does cover the franchise fee, marketing fee, and other necessary expenses.
The above initial investment may vary depending on the chosen city, and there are other cost such as staff fee, electricity charges, and commercial space charges may affect the initial cost to setup one.
Nevertheless, the Netmeds franchise cost in India may range from Rs. 10 lacs to 15 lacs.
| Brand | Netmeds.com |
|---|---|
| Area required | 200-250 sq feet |
| Industry | Healthcare |
| Total initial investment | Rs. 10 lacs to 15 lacs |
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Is Netmeds Franchise Profitable?
The profitability depends on several factors and one should be aware of the healthcare industry standards and its growth prospects. Nevertheless, considering the Netmeds growth prospects, brand value, strong presence, robust outlet network & its supply chain, and rapid digitization would definitely help the franchisee owner to churn an impressive profit margin.
Nonetheless, A Netmeds franchise owner is expected to earn a gross profit of at least Rs. 1-2 lacs per month, and it may vary depending on location and average customer footfall at your outlet.
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Why to choose a Netmeds Franchise?
If you have reached to this section and still searching for promising reasons to start a Netmeds chain, then let me simplify it for. However, We believe that, you have checked the background of this chain, which we have mentioned above in this article.
In this section, we would try to explain specific USP or reasons to start this chain. Let’s us jump in;
- Renowned and leading online Pharmacy
- As mentioned earlier, Netmeds is one of the leading player that carries a legacy of over 100 years in this industry. It would help the franchisee to get a sense of working with a renowned and established brand.
- ONE-STOP SHOP:
- Netmeds offers a wide choice of OTC products including wellness products, vitamins, diet/fitness supplements, herbal products, pain relievers, diabetic care kits, baby/mother care products, beauty care products and surgical supplies.
- Garners an enormous customer base:
- Netmeds has established themselves as trusted brand among its consumers by providing authentic cum affordable medicines. At present, Netmeds has Trust of more than 4 million+ loyal customers – PAN India.
- Online and Offline Marketing Support:
- Netmeds chain provides an extensive support to its outlet holders by offering industry standard online and offline marketing support.
- Awards and Recognition:
- Netmeds has been awarded and recognized by several media platforms for its services. Some of their awards include;
- ‘Health Tech Start-Up of the Year’ at the NDTV Unicorn Awards 2016.
- Asia’s Most Promising Brand 2018′ by Int+ WCRC International.
- ‘Best Digital Healthcare Start-up’ by ET Now World Health and Wellness Congress in 2019.
- ET Now World Health and Wellness Congress as the ‘Digital Healthcare Company of the year’ in 2019.
- Netmeds has been awarded and recognized by several media platforms for its services. Some of their awards include;
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What are the products and services offered by Netmeds?
- Over-the-counter items, including vitamins and medicines
- diet/fitness supplements,
- herbal products,
- pain relievers,
- mother care products,
- beauty care products,
- lab and diagnostic test and much more.
What are the Netmeds Franchise requirements?
To become an approved Netmeds outlet owner, there are certain guidelines one should at least meet;
- Interested prospect should be capable of investing at least Rs. 10-15 lacs to setup a Netmeds outlet.
- Applicant should have building or floor area of at least 250-500 square feet.
- One should be willing to dedicatedly involved in day to day business operation and work in the pharma industry.
- Interested applicants are advised to dedicate themselves to the Netmeds business and follow the company standards and maintain their legacy.
- Interested prospects must undergo and complete the necessary training program offered by Netmeds Pharmacy team.
- One should have required license to setup a pharma franchise.
- Interested applicants should have relevant experience and educational qualification(Pharmacist) to run an Netmeds outlets.
How to get Netmeds Franchise?
Once you meet the Netmeds chain requirements, then getting this pharma outlet is moderately easy, as long as there are no other Netmeds centers within a specific area. However, to get Netmeds outlet, interested prospect has to visit its official website and understand more about the business.
Interested applicants are advised to email at sales@netmeds.com or call a Netmeds franchise contact number – 7200712345.
Final Takeaway
Netmeds is one of India’s leading and fastest growing healthcare and pharma chains. With more than 100 years of Expertise, brand presence & value, large product portfolio, premium niche, and robust supply chain through a network of partners has helped this chain to grow enormously across the domestic market.
To become a Netmeds outlet owner, one may require an investment of Rs.10 lacs to 15 lacs and a floor space of 200-250 sq. ft. and can start your entrepreneurial journey. Nevertheless, if you too keen about profitability, then Netmeds offers an interesting program for its franchisee owner, and one can certainly expect to earn Rs. 1 lacs to 2 lacs, depending on the chosen city.
Then, what are you waiting for? Go and grab this opportunity and start your entrepreneurship journey.
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FAQ
How much does it cost to Start a Netmeds franchise?
Ans: To start a Netmeds outlet, one would at least require an initial investment of Rs. 10 lacs to Rs. 15 lacs for a minimum space of 200-250 square feet. This initial investment does consist one one-time deposit fee, marketing, and other fees.
How much does a Netmeds franchise owners makes?
Ans: Considering the Netmeds presence, brand value, robust supply chain and relatively low investment cost, one may anticipate to earn at least Rs. 1 lacs to 2 lacs per month.
However, these numbers are totally dependent on city and average customer footfall at your outlet.Which is best e pharma company netmeds vs 1mg Tata?
Ans: Netmeds and Tata 1MG are both one of the prominent player in the pharma industry. There are certain differences between these two companies;
1. Tata 1MG requires an investment of Rs. 15000 to become a partner, whereas Netmeds requires an investment of Rs. 10 lacs.
2. To become a TATA 1MG certified partner, you don’t need a retail space. One can start making money right away from their digital platform.
3. 1MG is owned by TATA, whereas Netmeds is owned by Reliance group.
4. 1MG franchise doesn’t require any inventory.How to convince people to order medicines from netmeds app?
Ans: In order to convince people to order medicines from Netmeds app, one may need to try certain steps;
1> Educate them about the Netmeds chain and its parent company – Reliance(Doesn’t need more explanation).
2> Order on-behalf of them, so that they can get assurance of getting right medicine and at right prices.
3> Let them know about their loyalty and subscription programs.
4> Educate them about the pricing and general brand awareness.How much is the Netmeds Franchise Profit Margin?
Ans: Netmeds is one of the leading healthcare platform in India, which caters to a wide range of customer through online and offline channels. However, as a franchisee, you may earn a handsome commission on every sales and net margin could range between 15-25%.
