Thursday, July 11, 2024
HomeHealthcare FranchiseHow to Start a Tata 1mg Franchise - Cost, Fee, & Profit

[Updated]How to Start a Tata 1mg Franchise – Cost, Fee, & Profit

Are you looking for an on-demand Healthcare franchise with the mission to disrupt the entire medical and pharmaceutical industry? Starting a TATA 1mg franchise will be the best option and would end your research.

In this guide, we’ll dive deep in to Pharmacy and Healthcare industry growth prospects along with the TATA 1mg with capital requirements, fee, profit, and step-by-step guidelines to get this franchise – and answer some common questions about the this franchise.

How to get TATA 1MG Franchise
  • Brand: Tata 1MG
  • Founded: 2015
  • Industry: Healthcare platform
  • HQ: Gurugram
  • Model: Franchise/Health partner
  • Space required: NA
  • Est. Earning: Over Rs. 50000
  • ROI: 1 yrs
  • Total Initial Investment: ₹15000+ GST

Understanding the Pharmacy & Healthcare Industry Growth Prospects

There is no doubt that the recent pandemic – CoVID 19 – has had a significant impact on human life & that has also made us realize the importance of healthy lifestyles. The rise in medical awareness, aging population, rising income level, and significantly growing health insurance penetration have partly contributed to the sheer expansion of India’s pharmacy and healthcare industry.

According to the recent report published by the NITI Aayog in 2021, there are huge investment opportunities for healthcare industries in India. Below is the below details,


Pharmaceutical industry Valuation

  • According to the Indian economy survey, The Indian pharmaceutical industry valuation stood at US 42 billion dollars in 2021 and is likely to reach US 65 billion dollars by 2024 and further expand to surpass US 120-130 billion dollars by 2030, making it a highly lucrative market destination for investors.

Medical device industry Valuation

  • India’s medical devices market stood at US$ 10.36 billion in FY20, and the market is expected to grow at a CAGR of 37% from 2020 to 2025 to reach US$ 50 billion.

Diagnostics Industry Valuation

India is one of the prominent and the world’s largest suppliers of generic medicine. With a market valuation of US 4 billion dollars, India’s diagnostics industry is highly fragmented, with organized sectors contributing 25% (15 % in labs and 10 % in radiology) and unorganized sectors contributing the rest.

I guess, these stats would offer enough insights on Pharmacy & Healthcare Industry valuation and its growth prospects. To learn more on this, please visit this link.


TATA 1MG Snippets

TATA 1MG Franchise Cost

TATA 1MG is one of India’s leading and rapidly expanding digital pharmacy and healthcare platforms. They are renowned for offering best-class doctors consultations on chat, online pharmacy, and lab tests at home.

TATA 1MG’s mission is to provide you with a flawless healthcare experience, and as of today, they have delivered more than 25 million orders in more than 1000 cities. It is also one of the leading online chemists, with over 2 lakh medicines available at the best prices.

As per the latest data available over the franchise website, they are one of the largest healthcare platform with over 260 million visitors, 31 million ordered delivered in more than 1800 cities in India.

TATA 1mg Franchise review

The journey started with the primary goal of serving healthcare accessible and economical, and as a result, a 1MG Franchise went from making Rs. 9.37 crores in income in 2017 to raking in an astonishing Rs. 627.1 crores in revenue in 2022. – TATA 1MG journey

Please continue reading if you are passionate for Pharmacy & Healthcare Industry franchise & this little snippet about the TATA 1MG  and healthcare Industry growth prospects of India excites you.

We will offer comprehensive and well-researched information regarding the TATA 1MG, along with its price, fees, profit margin, and—most importantly—the reason “Why” you need it.

You may like:

Start a Genericart Franchise – Cost, Fee, & ProfitGenericart

How to Start a PharmEasy Franchise – Cost, Fee, & Profit – PharmEasy


Overview of TATA 1MG Franchise

1MG Franchise cost

Founded in April 2015 by Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan, TATA 1MG or 1MG(Previously known as 1MG after TATA acquired a stake of over 55%) is one of India’s leading, experienced, and rapidly growing pharmacy and healthcare chains.

They have served over 260 million visitors and 31 million orders delivered in more than 1800 cities.

According to information on the official website, the franchise has over 600 franchisee owners, also known as health partners associated with them. 1MG chain is also one of the biggest and leading online chemist platforms offering more than 2.5 lakh medicines to Indians.

Some of the products & services that TATA 1MG caters to its consumers are listed below,

  • e-consultations
  • Diagnostics
  • e-pharmacy
  • Healthcare devices
  • Pharmaceuticals
  • Ayurveda Medicine
  • Homeopathy Medicine
  • Health Supplements
  • Skin Care
  • and customized care plan
1MG Franchise

Read more:

How to Start a Generic Aadhaar Franchise – Cost, Fee, & Profit – Generic Aadhaar Franchise

How to Start a Netmeds Franchise – Cost, Fee, and ProfitNetmeds franchise

TATA 1MG Vs Netmeds – Which is the Best Pharma Franchise?Ultimate Comparison


Why Consider Owning a TATA 1MG Franchise?

Considering the future growth potential and demand for a better healthcare platform, owning a 1mg franchise would benefit its franchisee owner. Some of the key benefits of starting this franchise are listed below,

  1. Continuous Healthcare demand:
    • As previously noted, the ageing population and unhealthful lifestyle are driving this industry’s growth, and as long as life continues, everyone will need medicine at some point in their lives.
  2. Entrepreneurship at low fee:
    • TATA 1MG offers an individual to become an Entrepreneur at a minimal on-boarding fee of only Rs. 15000, that enables them to grow and earn as early as possible in ever-growing pharma industry.
  3. Constant learning and earning opportunities:
    • The chain offers potential health partners a self-explanatory website where they may continuously learn from their program and begin their journey to make money.
  4. Leading digital healthcare platform:
    • TATA 1MG is one of the renowned digital healthcare platforms, possesses a history of success, and established itself as a prominent player in this industry.
    • It enables the franchisee owner to gain from TATA 1MG’s loyal customer base and ultimately generate an impressive profit margin.
  5. Marketing and Technological Support:
    • The chains offer extensive marketing and technical support to their health partners, aiding them to gain a significant market share in no time and build their strategy accordingly.
  6. Training Programs:
    • It helps partners to understand the business model and working of its digital platform.
  7. Awards and Recognition:
    • TATA 1MG doesn’t need any introduction, thanks to their marketing strategies and product offering. It is renowned with numerous awards from various government and private entity.
TATA 1MG franchise labs

Read more:

How to Start a Dr Lal path lab franchise – Cost, Fee, & Profit – Dr Lal Path labs

TATA 1MG Vs Netmeds – Which is the Best Pharma Franchise?Ultimate Comparison


How to earn from TATA 1MG Franchise?

One can easily make a good chunk of profit from this franchise, if they have certain characteristics,

  • Good communicator
  • Possess a basic knowledge to run a business
  • Willingness to work in pharma industry
  • Possess an elementary knowledge of medicines

Some of the prominent tasks that TATA 1MG health partners do are listed below,

  • Reach out to potential customers and spread awareness among them.
  • Explaining the franchise’s services and offering such as medicines, health products, diagnostics and doctor consultations to customers.
  • If required, assist customers in placing orders.
  • Follow up and engage them for future needs.

How Much Does a TATA 1MG Franchise Cost?

Future Scope for TATA 1MG franchise

The most fascinating aspect about TATA 1MG is their extremely low franchise or on-boarding charge.

As per the latest information, one would be required to pay around Rs. 15000 + GST as their on-boarding fee.

Key Notes on cost

  • On-boarding fee: Rs. 15000 + GST
  • No inventory required
  • Fully digital platform
  • No Un-necessary expenses

You may like

Can you Get an Apollo Pharmacy Franchise? – Cost & Profit – Apollo Pharmacy

SRL Diagnostics Franchise – Cost & Profit -: The Key to Making More Money – SRL Diagnostics

How to Start a PharmEasy Franchise – Cost, Fee, & Profit – PharmEasy


How much is TATA 1MG Franchise Profit Margin?

Is Tata 1MG Franchise Profitable

The 1MG pharmacy franchise offers low investment and high earning opportunities to its franchisee owner, as it doesn’t require any inventory or employee expenses(until you need one).

Let’s understand the earning potential from being a health partners by an practical example,

EssentialsDescription
Average no. of Orders1000 orders/month
Average value of OrdersRs. 1000/ Order
Potential EarningRs. 58,000

The above estimate would help you get an insight into potential earnings in being a health partner of the TATA 1MG chain. However, the profit could vary depending on your network and the average number and value of the order you receive.

To explore more on the earning potential, please visit this link.

See also: Wellness Forever Franchise Worth Investing? Cost & Profit – Wellness Forever


Impact of the Tata 1mg franchise on rural and urban communities

The impact of the Tata 1mg chain on rural and urban communities can be significant and positive. Some of the key ways the franchise has impacted these communities include:

  1. Improved access to quality healthcare:
    • By setting up franchise outlets in rural and urban areas, Tata 1mg has helped increase access to quality healthcare for people who may otherwise struggle to find it.
  2. Job creation:
    • The franchise has created job opportunities in both rural and urban areas, providing employment for local people.
  3. Boosting local economies:
    • The franchise’s presence has helped boost local economies by increasing the demand for goods and services in the area.
  4. Improving health outcomes:
    • Through its focus on providing affordable and accessible healthcare, the Tata 1mg chain has helped improve health outcomes for people in rural and urban communities.

Future of the Tata 1mg franchise and its potential for expansion

Well, if you have decided to become a health partner with TATA 1MG and still unsure about the TATA 1MG future growth and potential for expansion. No worries!

Some of the prominent points are mentioned below;

  • There is no doubt about the healthcare industry’s growth and being a part of renowned chain like TATA 1MG will certainly aids advantage for its franchisee owner.
  • Factors affecting growth are;
    • Market demand, competition, and government regulations.
    • It also depends on the chain’s ability for innovation and digitization.
  • TATA 1MG has been continuously working on expanding into several market segments, offering new services, and developing partnerships with other healthcare providers to increase its reach and impact.

How to get franchise of 1MG | How to Get TATA 1MG Franchise

To get a franchise of 1MG is quite simple, one has to simply visit their official website and fill up the required form for same.

However, The highlighted link would take you to the franchise partner’s page. One need to either scroll to bottom or APPLY HERE button(at the top). In case, you directly want to jump to form, follow this link-> TATA 1MG Health partner form.

You are request to fill up the details like Name, phone number, email address, residence detail( Including Pin code, state, city, etc.), prior experience and more.

1mg franchise apply online

Please be aware that if your application is selected, someone from the franchise team will contact you by phone or email after you submit the form. This entire process will only last for seven working days.

Further application process includes,

  1. Background verification
  2. On-boarding of health partners
  3. Training programs
  4. Marketing support and materials


Documents required for 1MG franchise

  • Photographs of Health partners
  • GST Certificate
  • Pan Card
  • Aadhar card
  • Bank account

1MG Franchise Official Details

Below is the details of 1MG franchise,

1MG franchise apply onlineGet Details
1MG franchise contact numberGet Details
Email idcare@1mg.com
Registered AddressLevel 3, Vasant Square Mall, Pocket V, Sector B,
Vasant Kunj New Delhi South Delhi DL 110070.
Postal/Corporate Address5th Floor Tower – B of The Presidency Building,
46/4 Mehrauli Gurgaon Road, Sector 14,
Gurugram, Haryana-122001, India

Good Luck!! Happy Franchising!!

<<<TATA 1MG Vs Netmeds – Which is the Best Pharma Franchise?Ultimate Comparison>>>


Conclusion

Started in 2015 by Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan, TATA 1MG or 1MG is one of India’s leading pharmacy and healthcare platforms. The rapid expansion of this chain is party due to its bold mission to make healthcare affordable and accessible.

Their some of prominent offerings include best-class doctors consultations on chat, online pharmacy, and lab tests at home. As per latest report, the franchise has served more than 260 million visitors, 31 million order delivered over 1800 cities.

It also has a franchise or partner program where one may obtain ownership for a little charge of Rs. 15000 + GST and begin making money right away. Based on health partners’ capabilities and hard work, they can earn somewhere around Rs. 70,000 -1 lacs per month.

That’s it from my side. Friends, I sincerely believe that my guide on “How to Start a TATA 1MG Franchise – Cost, Fee, & Profit” was quite extensive, helpful and educational, but if you’d need more details, you can check out the franchise’s official website.

If you like this piece, kindly let me know by leaving a comment and spreading the word to as many of your friends as you can; Your comments offer us more inspiration to keep producing high-quality material for you. Many thanks.

Other Opportunities

Want to explore more? Then check out below franchising opportunities.

Tea & Café FranchiseIce Cream FranchiseFood & BeveragesDeliveryDealership/Distributorship

Affordable FranchisesInternational FranchisesBusiness Ideas, and Apparel Franchise


FAQ

  1. How much does it cost to Start a TATA 1MG franchise?

    TATA 1MG offers a health partner program that costs only Rs. 15000 + GST and doesn’t require any inventory to operate.

  2. Is TATA 1MG franchise profitable?

    Yes, definitely! TATA 1MG, a well-known chain that offers a partnership program at a low cost and offers higher profit margins in exchange, is certain to be profitable for its unitholders.

    Based on the partner’s capabilities, one can make at least Rs. 70,000 to Rs. 1lacs per month.

  3. How long does it take to complete TATA 1MG franchising application process?

    The application process for the 1MG franchise is quite simple and lasts for only seven days to complete the process.

  4. What about the test reports reliability of Tata 1mg Lab health-check up packages?

    TATA 1MG has established itself as a prominent player in the healthcare industry. However, The chain lab tests are known for offering the highest quality diagnostic services to consumers at their doorstep.
    The entire range of diagnostic reports is ISO certified, a gold standard in the quality of diagnostics.

  5. What is the Joining Process of Tata 1MG Franchise?

    The joining process of TATA 1MG is quite simple, as one only needs to visit their official website and fill in the necessary details. The entire process will last for seven days.

    Once your application is selected, the franchise team will contact you for the further process that includes background verification, Onboarding fee submission, training program, marketing strategies, and other required support.

FranchiseGoal India
FranchiseGoal Indiahttps://in.franchisegoal.com
Welcome readers, FranchiseGoal is a global digital marketplace that connects aspiring entrepreneurs with top franchise and business opportunities. Our platform features enriched articles, industry insights, and a comprehensive blog to keep you informed and inspired. Join our social media community for regular updates, expert advice, and engaging discussions on franchising and business ideas. Discover your path to success with FranchiseGoal.
RELATED ARTICLES

Leave a reply & Get our response!!

- Advertisment -

Most Popular

Open chat
1
Scan the code
Powered by FranchiseGoal
Hello 👋
Can we help you?