Health is wealth and in this case, the health care industry. Its worth billions of pesos industry and a lot of market hungry for cheap but quality medicines. The Generics Pharmacy franchise Philippines is a good choice to get into the health care business. Especially for those who wants a piece of the market’s ever growing potential for affordable medicine.
Because of the changing times and new viruses that are emerging, there is always a risk that you can get sick. Not to mention that our environment and weather isn’t as stable as it was before due to global warming. Set those aside, humans grow old and part of it is getting sick be it a simple cold, cough, fever, we all run to a drugstore to purchase medicine, thus making it a good market for it never dies out. However because of the changing times and the economy not performing too well, medicines and other primary needs’ prices sky rocketed, thus average people can no longer afford to buy them. As a result most Filipinos either go to quack doctors to have them attend to their illnesses because it is much cheaper than going to the doctor and having them prescribe expensive medications. Some due to lack of money just endure the pain wishing that their disease or illness will go away someday not knowing that it is getting worst as time goes by and that they’re only waiting for death to come to them.
However due to the Filipinos unique capability of being resourceful, they came up with the idea of using herbal medicines and non-branded medicines as substitutes. Thus began the emergence of Pharmaceutical companies like The Generic Pharmacy. It was a year ago when former president Gloria Macapagal Arroyo realized the primary problems of the poor and one of it was getting deprived of affordable medicine. With this she made the Generic Act which provides less expensive medicine for the poor, and lowers the price of those branded medicines to make them more affordable. This came out to be good idea because The Generics Pharmacy which provides those benefits became quite successful that it managed to put out 345 outlets in just two years after their debut to the market. As of today there are more than 739 The Generics Pharmacy Franchise Outlet nationwide, providing not just affordable medicine but also offering free check-ups in some selected branches. The Generics Pharmacy doesn’t wish to stop there, they aim to provide every Filipino an affordable medicine just around the corner to ensure that everyone isn’t deprived of good health despite the economic crisis we are experiencing.
The Generics Pharmacy despite being a business has its main goal to help the Filipino people most especially the less fortunate and elderly, prices of medicines they offer are slashed down versions of popular brand prices. Generics Pharmacy also offers 20% discounts to the senior citizens whom needs the medicine the most another unique concept that The Generics Pharmacy implies is not to hire any medical representative to reduce the cost, because they believe that there is no need for them because most people have already heard about the Pharmacy anyway.
As of the current The Generics Pharmacy is looking for more innovative ways to provide affordable medicine to the masses, and one way of doing so is having it open for Franchise. They are offering unit franchises for as low as P300,000 to P500,000 (Franchise Fee inclusive), they also have two choices in which you could choose from:
Solo or Express
This is the type of pharmacy which can be located near markets, hospitals, big drugstores, or inside malls.
Tandem or In-Store
The type of Pharmacy which can be located within or inside a medical clinic, hospital, convenience stores, supermarkets, groceries, department stores, and cosmetic stores.
Frequently Asked Questions
How much is the Franchise Fee?
The Franchise Fee is P260,000.
How much is the Total Investment needed to start my own The Generics Pharmacy Franchise?
It varies depending on how large your store will be, but mostly it is P800,000
How long is the Term of Agreement?
Each term will last for 3 years, upon expiration of the contract it is up to the Franchisee if he still wishes to renew the contract for another term.
Is there a Royalty Fee? How much will it be?
Yes there is a Royalty to be paid; it will also vary depending on how well your business performs because it is 1% of your gross sales.
How long will it take for me to get back the Return on Investment?
This will also vary depending on how well your business performs, but estimates of Return on Investment would be 1 to 2 years.
What criteria does The Generic Pharmacy look for in its Franchisee?
- meet the investment required
- be able to run the business full time
- be willing to learn the business and operate within a franchise system
- be people and customer service oriented
- be very honest and with integrity
- be aggressive and hardworking
- motivated to succeed and grow
What are the criterias to be determined in choosing a location for the business?
The site must be accessible to both pedestrian and motor traffic, it should be near strategic points such as; hospitals and medical clinics, big drugstore chains, public markets, supermarket and groceries, malls and department stores, cosmetic stores, convenience stores, bookstores, and health food stores. It should also meet the minimum area requirement of 15 square meters.
What benefits shall I gain in being a Franchisee?
Upon being a Franchisee you will be given full support package which includes the right to use The Generics Pharmacy Trademark, Name, and logo, You will also be assisted in start-up and pre-opening of your Business, Site evaluation assistance in choosing the best and suitable location for your business, Training that will tackle pharmacy retailing, business management/operations and customer service, Guidance and education in terms of the generic drugs that you will sell, regular advertising support, marketing/promotion and opening assistance. They will make sure that you learn everything you need to know with regards of opening and operating your own The Generics Pharmacy Franchise.