Have you ever dreamed of starting a healthcare business with a renowned brand? Perhaps your recent visit to a Wellness Forever store, sparked your interest in researching its potential for growth and investment opportunities.
Undeniably, since the pandemic, the pharma industry has exhibited immense growth, be it in the equity market or in local medical stores. If you have any prior experience in the industry and are looking for a lucrative healthcare platform, Wellness Forever may have caught your attention.
But, is it better than Tata 1MG, PharmEasy, Generic Aadhar? We’ll understand everything about this in detail.
After reading this comprehensive article, you’ll have a complete understanding of Wellness Forever Franchise, along with its cost, fee, profit, requirements, and more.
We’ll also be answering some of the most frequently asked questions about this franchise in the FAQ section. We further request that our readers feel free to use the comment section for all their queries or connect with us on our Instagram Handle.
- Brand: Wellness Forever
- Founded: 2008
- HQ: Mumbai, MH, India
- Founder: Ashraf Biran, Gulshan Bakhtiani, and Mohan Chavan
- Area Required: Min. 750 sq. ft.
- Revenue: ₹1000 crore
- Model: Franchise
- Deposit Fee: NA
- Profit Margin: Varies
- Showroom Frontage: min. 25-30 ft
- Est. Initial cost : ₹75 Lakh
Table of Contents
Overview of Wellness Forever Franchise
Wellness Forever came into existence when three entrepreneurs, who had prior experience in the Medical and Pharma industry but in different fields, recognized the immense potential in the early stages of this sector. They combined their expertise and vision to establish the foundation of Wellness Forever.
Founded in 2008 by Ashraf Biran, a Pharmacist and Pharmacy Owner, Gulshan Bakhtiani, an Area Sales Manager, and Mohan Chavan, a Pharma Distributor, Wellness Forever Franchise has emerged as a prominent medtech platform with a strong retail presence in states like Maharashtra, Karnataka, and several others.
The founders of Wellness Forever are often acknowledged as the “Three Pillars of Wellness Forever.” It’s thrilling to mention that, at the time of the company’s establishment in 2008, The chain achieved an annual turnover of ₹8 Crore, a remarkable feat that is not easily seen in tech startups these days.
According to the latest financial report, Wellness Forever sales figure is growing exponentially, which even crossed over ₹1000 Crore in revenue last year.
With its strong and growing presence of over 300+ stores across 43 cities in Maharashtra, Goa, and Karnataka, the chain is actively seeking franchise applications from aspiring entrepreneurs who share a similar vision with Wellness Forever.
As per the latest commentary on its future growth, Their founders are confident on its business model, which will continue to expand its presence and mark its strong presence in the Fast Moving Health Goods (FMHG) market.
As a prominent pharma brand, Wellness Forever offers a diverse range of healthcare products including medicines, health and nutrition products, personal care, body essentials, mother and baby care, elderly care, medical devices, ortho belts, supports, and many more.
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The Journey of Wellness Forever
Wellness Forever’s humble beginning started in 2008 when three visionary entrepreneurs, Ashraf Biran, Gulshan Bakhtiani, and Mohan Chavan, partnered together for a singular mission to make medicines and other pharmaceutical equipment more accessible and affordable to every Indian consumer.
With its diverse range in healthcare products including health and nutrition items, personal care products, Wellness forever franchise has become a leading medtech platform in India with over 300+ retail stores across the states such as Maharashtra, Goa, and Karnataka.
Starting its operations in 2008 with an achievement of generating a revenue of ₹8 Crore to making a rapidly growing pharmacy network of over 300, which presently generates an annual sales of ₹1000 Crore is undoubtedly inspiring.
Key Facts on Wellness Forever
| Sr. No | Type | Private |
|---|---|---|
| 1 | Trade Name | Wellness Forever |
| 2 | Industry | Pharmacy |
| 3 | Founded | 2008 |
| 4 | Founders Or Parent Company | Ashraf Biran, Gulshan Bakhtiani, and Mohan Chavan |
| 5 | Headquarters | Vikhroli West, Mumbai, India |
| 6 | Number of locations | 300+ outlets |
| 7 | Area served | Maharashtra, Goa, & Karnataka |
| 8 | Model | Franchise |
| 9 | Service/Product offering | health and nutrition items, & personal care products |
| 10 | Revenue | ₹ 1000 Crore |
| 11 | Website | https://www.wellnessforever.com/ |
Why Consider Owning a Wellness Forever Franchise?
- Robust presence in the home-state:
- Wellness Forever has strong footprints in its home state and continued to grow strategically in the neighboring states, allowing them to expand and build its strong business model across the country.
- Diverse range in product offerings:
- As an approved franchise, you’ll leverage the proven business model to cater to the extensive range of healthcare products, resulting in a higher customer footfall and healthy revenue figure.
- Extensive support system:
- Wellness Forever provides a comprehensive support to its franchisee, including assistance with store setup, training for staff, inventory management, marketing, and operational guidance.
- Recognized brand in the Industry:
- Despite having around 300+ outlets, primarily located in Maharashtra, Wellness Forever has garnered significant recognition from various media houses for its immense contribution to the industry.
- Some of their prestigious awards are listed here.
- Despite having around 300+ outlets, primarily located in Maharashtra, Wellness Forever has garnered significant recognition from various media houses for its immense contribution to the industry.
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How much does Wellness Forever Franchise Cost?
Undeniably, The Wellness Forever’s market is expanding. after making a significant footprints in home states, the chain will steadily invade to other territory to strengthen its market presence in the Industry.
However, To setup a Wellness Forever Pharmacy Franchise requires a retail space of at least 2600-1000 sq feet at a highly footfall market. However, the ideal size to setup a store should range between 750 and 900 sq feet with a minimum store frontage of 20 feet.
Nonetheless, In order to become an approved Wellness Forever Franchise, one may need to have an initial investment of ₹75 lakhs, which will include the cost like franchise/deposit fee, marketing & training expenses, initial inventory, and more.
| Type of Cost | Cost & Other details |
|---|---|
| Brand | Wellness Forever Medicare ltd. |
| Required space | 750 – 900 square feet |
| Store frontage | 25- 30 ft |
| Agreement period | 5 years, renewable |
| Break even period | 3- 7 months |
| Total initial investment | ₹ 75 lakhs |
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How much is Wellness Forever Franchise Profit Margin?
The net profitability of a single Wellness Forever outlet is highly dependent on several factors, including the outlet’s geographical location, customer’s footfall at the outlet, and overall market conditions.
The franchise claims to deliver better return than most of the pharmacy retail chains like Generic Aadhar, PharmEasy, Apollo Pharmacy.
However, It is advisable to perform a deep and extensive market research including the customer footfall & its growth prospect for the proposed location.
Furthermore, considering its strong footprints in home state, a decade long experience, a diverse product offering, growing customer base, extensive training and support, and ever-growing indian healthcare industry, a franchise aspirants may anticipate a gross profit margin of 38-45% and a net profit margin of 15-20%.
Additionally, a better location with higher customer footfall, potential franchisees can expect to generate an annual profit ranging from ₹25 lakhs to ₹30 lakhs, which translates to a monthly sales revenue of ₹2 lakhs to ₹3 lakhs per month.
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What are the requirements to Own a Wellness Forever Franchise?
- First and most important – One should be financially well-qualified and have good credit to start a Wellness Forever pharmacy store, and should be ready to invest minimum ₹75 Lakh, excluding the cost of land.
- Applicant should secure an adequate amount of space of at least 750 – 900 sq feet to put a Wellness Forever store in your area.
- Interested applicants are advised to dedicate themselves to the Wellness Forever business and follow the company standards and maintain their legacy.
- Interested prospects must undergo and complete the necessary training program offered by Wellness Forever team.
- Interested franchisees should have a passion to work in the Healthcare industry and should possess the leadership and financial skills to operate a Wellness Forever Pharmacy.
- Though the franchise doesn’t require any prior experience in the field, but the store team needs to include a minimum of 4 pharmacists. These staffs are regularly trained by the franchisor that helps them to operate the store efficiently.
Are there any alternatives available to Wellness Forever Franchise?
While there are no issues with Wellness Forever, its investment requirements may prompt you to explore more affordable alternatives.
As mentioned earlier, to become its approved business partner, one need to have an initial capability to invest at least ₹75 lakhs and more in the chain. Nevertheless, let’s look out some impressive alternatives;
Tata 1MG Franchise
TATA 1MG is a leading healthcare platform that takes pride to deliver over 31 million orders in more than 1800 cities in India.
A purely partner-based program that only requires an onetime investment of ₹15,000 as a security deposit, which opens the door to infinite success. Some of its offering includes Over-the-counter medicine, doctors consultation, and lab tests at home.
Due to high request for its franchising program, TATA 1MG had to temporarily stop its partner program. However, currently, they have once again resumed it. Get ready to embark on your entrepreneurship journey with TATA 1MG.
Read more: [Updated]How to Start a Tata 1mg Franchise – Cost, Fee, & Profit
Genericart Franchise
Another Maharashtra based Pharma Startup, Genericart has emerged as a leading pharmacy stores that primarily offers an extensive range of generic and affordable medicines.
Within 7 years of its establishment, Genericart has grown into a franchise network of over 1000+ outlet, which is 3 times greater than Wellness Forever.
Growing with a mission to open over 25,000 pharma stores across various Indian cities, Genericart aims to fulfill your dream of owning a lucrative pharma business.
By partnering with them, you can not only expect reasonable profits but also contribute significantly to making general medicine and healthcare needs more accessible and affordable to the community.
The initial investment for Genericart ranges between ₹8 lakhs for a unit franchise and over ₹20 lakhs for a district level franchise partner.
Read more: How to Start a Genericart Franchise – Cost, Fee, & Profit
How to Get Wellness Forever Franchise?
If you have the required funding and necessary floor space in a high footfall market, then owning a Wellness Forever outlet is just a click away.
To become an approved Wellness Forever partner, one can go ahead with the following steps;
- Visit the Wellness Forever’ official website and navigate to the franchise tab;
- You are required to fill in the details like Full Name, Email ID, Phone Number, Pin code, and other requested info;
- Or, You can also fill in the details here(Only for Internal purpose);
2. One can also connect with them at below mentioned details;
Contact Number :– +91 22 4941 5600
Email ID: franchise@wellnessforever.in
Final Takeaway – Conclusion
Wellness Forever may seems like a lucrative business opportunities for aspiring candidates looking to venture into the pharma and wellness industry. With its strong presence in the home market, diverse product range, and growing customer base, owning a Wellness Forever may prove to be an fruitful investment.
The Bottom line – In summary, the pharma and healthcare industry indeed holds tremendous growth potential for prospective franchisees. However, the significant investment requirement of ₹75 lakhs may pose a considerable challenge, particularly at the early stages of entrepreneurship.
In an industry where numerous healthcare franchises are available at a more affordable range of ₹10 lakhs to ₹25 lakhs, Wellness Forever may face tough competition in the market. Additionally, the restriction to specific locations could also present risks to its potential franchisees.
Hence, It is essential to perform an extensive market research before buying a healthcare business for your entrepreneurial journey.
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FAQ
How much does it cost to start a Wellness Forever Franchise?
Ans: To become an approved Wellness Forever Healthcare store, one may need to have an initial investment of ₹75 lakhs and a floor space of 750 to 900 sq feet.
Is Wellness Forever Franchise Profitable?
Ans: The net profit margin of a Wellness Forever store may vary depending on the outlet’s geographical location, customer footfall, market potential, and more.
However, According to the official website, A retail store located in high footfall area can anticipate an annual earning of ₹25 lakhs to ₹30 lakhs.
