What is Genericart Franchise?
Genericart Medicines is a leading pharma franchise in India, specialising in the recruitment of franchises for generic medicine stores across the country. This is the only company in India that provides quality control certificates for each product and batch.
The pharmacy department of the company is always willing to assist store employees in improving their technical knowledge and abilities. They want to provide ongoing value-added services like patient counselling, low-cost fasting blood sugar tests, and free blood pressure monitoring, as well as community outreach programmes like Free Medical Consultations.
How is Genericart Different than other franchise ?
A pharmaceutical product that shares the exact same chemical constituents as a drug that was previously covered by a chemical patent is referred to as a generic drug.
The active pharmaceutical ingredient (API) in a generic drug is the same as that in the brand-name drug, but there may be slight variations in manufacturing, formulation, excipients, colour, taste, and packaging. Generic products typically become available once the patent protections granted to the original creator of a medicine expire.Generic medications typically have the same dosage and effectiveness as branded medications.
Genericart is different with its goal to become one of the top national chain of pharmacies, providing top-notch generic medications at competitive prices, together with outstanding customer service and a strong sense of social responsibility.
Genericart Franchise Key Points
The company is introducing a mobile app and a loyalty programme with the goal of providing exceptional bonuses and benefits to its customers. Genericart Medicines Pvt. Ltd. continuing to innovate in conjunction with other firms and universities since it is not bound by traditional commercial practices.
Customer happiness is a primary social reason for the business, in addition to offering excellent generic medicines at an accessible price. Due to the high expense of medicine, some parts of the population are unable to purchase even basic medication, which can be fatal to patients.
There are three models of franchise with Genericart. The first is the COCO model (Company Operated Company Owned), where the cooperation will open all of the stores on its own and will make the person wishing to launch the business the Genericart a business partner.
This is accompanied by COCO (Franchisee Owned Company Operated) where the store owner handles all of the setup, investment, and management. All necessary training is provided by the company along with on field support for shop owners.
The third model is FOFO (Franchise Owned Franchisee Operated), This is the best model because the store owners handle all of the setup, investment, and management. The company will give the necessary training. In addition, the company will provide shop owners with on-the-ground support.
Requirements for Genericart Franchise?
There are certain requirements for the Genericart franchise. The first requirement is the investment, which requires the investment of 8 to 10 lakh rupees with an expandable capital of Rs 3 to 4 lakh.
The requirement is for 1 or 2 pharmacists and a minimum of 150 sq feet for the structural set-up. The location should be on a main road in a city or market place.
100% documentation and licensing is required in accordance with the FDA guidelines.
Genericart Franchise Cost
|Single Unit||INR 20 L- INR 50 L|
|Brand Fee||INR 20 L|
|Furnitures and Fixtures||INR 3.5 L- 4L|
|Advertising/ Marketing||Included in investment|
How to Get a Genericart Franchise?
After meeting the requirements, one has to visit the official website of Genericart and fill the application available.
The application asks for information pertaining to Location, educational qualifications and certain personal information.
Genericart Franchise Terms & Conditions
Any conditions specifying extra obligations or restrictions accompanying your use and access to the services, including, without limitation, any obligations and usage limits, are included in the definition of “Terms.”
To use or access the services in any way, one must be at least 18 years old. One must agree to and adhere to the terms and have the legal right, authorisation, and capacity to use all or part of the services provided through the platform.
The company grants one a non-exclusive, non-transferable, limited right to access and use the site’s services. The franchisee is given access to the site, which should not be used for illegal or unauthorised purposes.
One will not attempt to obtain any unauthorised access to or interfere with any other person’s usage of the Services by breaching the Platform’s or software’s security.
The Online platform, as part of the services, gives one access to information about the company’s franchise and business prospects. To begin the franchise or company acquisition process, one must first complete the franchisee enquiry form and create an account with the company.
The online Platform, as part of the Services, provides you with access to information about the company franchise and business prospects. To begin the franchise or company acquisition process, one must first complete the company’s franchise inquiry form and create an account.
Genericart Franchisee Profit Margin
Model A (Unit Franchise)- 40%-50%
Model B (District Franchise)- 40%
Model C (Zonal State Head Franchise)- 40%
Is Genericart Franchise Profitable ?
For entrepreneurs, generic medicine franchises can be a lucrative business model. The generic pharmacy franchise system has a lot to offer. It may assist in improving the healthcare system as well as help individuals and businesses grow into profitable markets.
Genericart Medicine offers the most comprehensive selection of generic medications of any drug store. It will grant the permission to use its organisation’s logo and trademark from the beginning. The organisation will assist you in conducting market research before assisting you in opening the branch for which you have purchased the franchise. The brand provides assistance at every step of the process, beginning with the initial set-up of the store.
Who is the Owner of Genericart Franchise?
With over 10 years in sales and marketing, Mr. Shripad Kolhatkar and Mr. Salim Sayyed started Genericart Medicines Pvt. Ltd.
What is Genericart Franchise Agreement Duration?
The contract is for a duration of 5 years and can be renewed. Genericart wants their franchisees to keep operating for the foreseeable future as long as they uphold our standards and have proven their ability to effectively run the shop.
Is There any Royalty Fee for Genericart Franchise?
Genericart Franchise requires an Investment between 8 and 10 lakh. With an expandable capital of Rs 3–4 lakh.