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The Generics Pharmacy, one of the pharmacies or drugstore brands operating in the Philippines, is primarily involved in pharmacy retailing. There are various drugstore brands in the country nowadays, and the industry has continually achieved growth, with more and more Filipinos needing access to quality yet reasonably priced medicines. At the core of The Generics Pharmacy philosophy are its continued and consistent efforts at providing the Filipino consumer with high quality yet affordable medicines.
History of The Generics Pharmacy
The Generics Pharmacy was started through another company, which had been registered as early as 1949. It was in 1959 that the company started to import and sell wholesale pharmaceutical goods as Filipino entrepreneurs assumed the business. When prices for medicines and other pharmaceutical products soared in 1989, the company began marketing and selling generic medicines to public hospitals, making it possible for Filipinos who are less privileged to have access to quality yet cheap pharmaceutical products.
Requirements to become a franchisee
If you are considering becoming a franchisee of The Generics Pharmacy, here are some of the requirements or franchise details you need to look into.
Franchise investment: Php 600,000 to Php 800,000
Franchise investment inclusive of: start-up assistance, initial training, business development support
Franchise term: initial term at 3 years, renewable to two 3-year terms, which totals to 9 years
Royalty fee: 1% of gross sales
Schedule of payment of royalty fee: monthly, on the 15th of the succeeding month
Store space requirement: space should be at least 15 sq.m.
Valuable tips for success
There are many things that make The Generics Pharmacy an ideal franchise outlet for would-be entrepreneurs or franchisees out there. This business franchise is not only socially relevant and extremely affordable. When managed successfully, this franchise is also highly profitable and easy to operate.
As a potential franchisee of The Generics Pharmacy, you should not merely meet the investment required, but you also need to have the ability to manage the business on a full-time basis. You also need to be willing to learn the business as well as operate based on its established franchise system.
Where to get franchise information and applications
You may visit The Generics Pharmacy website at http://www.thegenericspharmacy.com to get additional franchise information and other application details. You also need to submit a filled-up Franchise Prequalification Form, which is downloadable from the site, as well as a letter of intent, and a vicinity map of the proposed site.
Photo Credits: Entrepreneur
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