Are you confused and still searching for the best pharma franchises to own? No worries! Today we have brought in one of the best comparisons available over the Internet on the best pharmacy franchise – TATA 1MG Vs Netmeds.
On our platform, we have found several queries and searches to own the best healthcare franchise with a minimum investment. Everybody wants to own a lucrative business, but due to a lack of knowledge end up choosing the wrong franchise.
Maybe you’ve received emails about the pharma franchise program or perhaps you’ve surfed hours on internet to find the best available one – either way, you’re aware that there’s a new, buzzing, and proven business to make money online in 2023!
The truth is, you’re NOT completely sure if this is for you, or you have some VITAL questions like:
- Overview of 1MG and Netmeds
- Which franchise provides better Services to its Customers?
- How much does TATA 1MG and Netmeds franchise cost?
- Which Pharma franchise is Profitable? Tata 1mg Vs Netmeds
- Which franchise offers better Return on Investment?
- How to Apply for TATA 1MG or Netmeds franchise?
- Final Conclusion – Which franchise to Choose?
Well, in this honest TATA 1MG Vs Netmeds review, we’ll answer all your questions by covering the burning angles to get this franchises – and answer some common questions about the chains.
Table of Contents
Overview of TATA 1MG vs Netmeds
Started its operation in 2015 by Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan to offer best-class doctors consultations on chat, online pharmacy, and lab tests at home. Later, it was acquired by TATA and named as ‘TATA 1MG‘.
As per latest data available to us, 1MG boasts of over 260 million visitors, 31 million ordered delivered in more than 1800 cities in India, making it one of the leading and rapidly growing pharma chains.
Netmeds was established in 2015 under its parent company – Dadha Pharmaceuticals, which caries a strong experience of 100 years in this industry. They are also 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.
Details comparison between TATA 1MG Vs Netmeds
|Type of Comparison||TATA 1MG||Netmeds|
|Brand Name||TATA 1MG/ ‘1MG’||Netmeds.com|
|Founded||April 2015||June 2015|
|No. of customer serving||Over 25 million order served||7 Million happy customers|
|Cities covered||1800 Cities||Less than 1800|
|Service offerings||doctors consultations on chat, online pharmacy, and lab tests at home||medicines and over-the-counter items, homeopathy, and lab tests|
|Revenue||$1.03 mn (Rs 7.7 crore in FY20)||Rs. 627.1 crores in FY 22|
|Investment||Rs. 10-15 lacs||Rs. 15000|
|Learn more in Details||1MG franchise||Netmeds franchise|
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Which franchise provides better Services to its Customers?
Irrespective of their background, both franchises are leading player in the industry that caters to over a millions of customers daily and have established themselves as a renowned healthcare platform. However, the service offerings are the key differentiator between these chain.
Better the services franchises provide, the better the chances for your customer acquisition. Both of these franchises are online platforms for purchasing medicines. The main difference is that Tata 1mg provides health and wellness information, while Netmeds is primarily an e-commerce platform for medicines.
Both companies allow customers to place orders for prescription and over-the-counter medications through their websites or mobile apps.
The products offered by Tata 1mg include health supplements, vitamins, and personal care products, in addition to prescription and over-the-counter medications.
- Healthcare devices
- Ayurveda Medicine
- Homeopathy Medicine
- Health Supplements
- Skin Care
- and customized care plan
While Netmeds focuses mainly on providing medicines.
In term of delivery services, both of them offers home delivery services, with the option to track orders online. A robust supply network and a wider audience reach show that – 1MG offers quicker medicine delivery than its competitors.
Both companies allow customers to upload and store their prescription online, and also have a feature where customers can consult a doctor online.
Discounts and offers
Both companies offer discounts and deals on various products that attract consumers across the cities.
Both companies offer reminder services for repeat prescriptions. Hence, repeat transaction means repeat customers, and that further increases the franchise revenue.
Cash on delivery
Both companies offer cash on delivery as an option for payment.
One main difference is that Tata 1mg has a wider range of products in their e-commerce platform, also Tata 1mg has its own diagnostic lab and Netmeds is more focused on medicines.
In summary, both Tata 1mg and Netmeds offer similar services for purchasing medication online, with slight variations in their product range and additional services.
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How much does TATA 1MG Vs Netmeds franchise cost?
To start a TATA 1MG franchise, one has to visit their official website and apply for their partner program by paying a minimal fee : Rs. 15000 plus GST.
While, Starting a Netmeds franchise may cost you somewhere around – Rs. 10 lacs to Rs. 15 lacs.
Both of these franchises may not require any commercial space. However, Netmeds does expect its partner to have a brick-and-mortar space to attract local consumers.
These franchises may expects its franchisee to;
- Invest a min cost required to setup the franchise.
- Should have necessary pharma expertise and skills
- Should possess the necessary educational background
- Must obtain the required licenses.
Which Pharma franchise is profitable – Tata 1mg Or Netmeds?
Whether a Tata 1mg or Netmeds franchise will be profitable for an individual depends on a variety of factors, including the franchise brand value and presence in the market, the individual’s experience and expertise in the industry, the level of competition in the area, and the individual’s ability to effectively manage and operate the franchise.
Both Tata 1mg and Netmeds are well-established companies with a good reputation in the industry, which can aid as an extra advantage for franchisees. They also offer a wide range of products and services, which can help attract more customers to the franchise.
However, as with any business venture, it’s important to thoroughly research and evaluate the franchise opportunity before making a decision. It includes analyzing the market and competition, understanding the costs and potential revenue, and having a solid business plan in place.
Nevertheless, as per the latest data available, One may certainly anticipate earning at least Rs. 50000 to Rs. 1lacs per month.
Which franchise offers better Return on Investment – TATA 1MG VS Netmeds?
After considering both the chain and their investment cost and other expenses, we can conclude that TATA 1mg offers a better return on investment as compared to its competitors.
It’s worth noting that starting a franchise can be an expensive process. The cost of franchising can vary greatly depending on the company and the type of franchise you are interested in. Factors that can affect the cost of a franchise include the initial franchise fee, ongoing royalties, marketing and advertising fees, and the cost of equipment and inventory.
How to Apply for TATA 1MG Vs Netmeds franchise?
Both companies have a process for interested parties to inquire about franchising opportunities, which typically includes submitting a formal application and going through a selection process.
To get TATA 1MG Franchise-> TATA 1MG Health partner form.
Final Conclusion – Which franchise to Choose?
In conclusion, Tata 1mg and Netmeds are both reputable online pharmacies that offer a variety of services for purchasing medicines online.
One needs to understand that starting a franchise is a significant business venture, and it requires financial and leadership skills. It’s not just about the initial investment cost, but also about the ongoing expenses, business model, and the company’s reputation and its service offering with CAR(customer acquisition ratio).
We will recommend the potential franchises to research the company and industry growth prospects, talk to at least five existing franchises, and make a decision.
You should also understand the fact that both franchises have different business models & offerings, and one may be more suitable for your goals and aspirations than the other. Additionally, It’s important to evaluate the franchise opportunity in the context of your own personal and financial goals, as well as your experience and expertise in the industry.
Then, what are you waiting for? Go and grab this opportunity and start your entrepreneurship journey.