5 Compelling Reasons To Invest In Generika Drugstore Franchising Opportunities
Establishing a drugstore business can be a lucrative opportunity in the Philippines. This is because just like daily necessities such as rice and cellphone load, medicines — maintenance medications, food supplements or vitamins — have become part of daily expenses.
Therefore, this fact of daily life makes a drugstore a significant fixture in a Filipino neighborhood. As the population grows larger, medical needs also grow. High blood and diabetes medicines, growing up supplements and vitamins for children and everyday relief for colds and fever, joint pains or quick relief for mishaps at home.
But far from just a typical seller of drugs and medicines, drugstores have expanded their offerings as well. It is not unusual to find milk formula, energy drinks and potato chips in drugstore shelves just as convenience stores also sell first aid kits and pain relievers.
Someone planning to set up a drugstore business may be a pharmacist who has extensive knowledge of generic medicines and dosage, but it is also possible for one who has no medical background to put up the business. Thanks to the concept of franchising, folks with capital money can better spend their investment into businesses like pharmacies with guidance from experts in the field.
One of the established brands in the Philippine drugstore scene is Generika Drugstore.
Why choose Generika Drugstore to be your franchise partner?
It adopts a modern automated information system
Gone are the days when inventory and record keeping of individual pills, capsules and retail units and stock keeping units require enormous amounts of time and effort. Generika Drugstore’s proprietary point of sale (POS) system helps storekeepers monitor sales transactions and stock inventories in a much more convenient way.
This frees up time from tedious tasks and allocate them to other things — marketing or beautifying your shop, keeping track of items your drugstore does not sell or training your staff for more efficient service.
It has wide range of products
One big turn off among consumers is when you tell them the medicine they’re looking for is unavailable (or pretend it’s sold out while secretly keeping a record of such items for suppliers to ship over). Generika Drugstore not only has a wide array of medicines but also both generics or popular brands advertised by celebrities.
In addition, Generika Drugstore also has supplies of other consumer goods, making it a worthy alternative stop and enables it to grow foot traffic in the process.
Opportunities for additional revenue streams
Besides selling the core medical products, Generika Drugstore also has services to address the needs of the buying public and, at the same time, provide additional revenue. For example, Generika Drugstore has the MEDPadala — the first electronic gift check for medicines that allow Filipinos abroad to send medical allowance and recipients of email or SMS can redeem products from any Generika Drugstore.
Complementary services such as cellphone loading for Smart, Globe and Sun subscribers are also available.
Its emphasis on quality products and excellent customer service
Generika Drugstore is committed to the highest ideals of customer service. Its store personnel are trained to provide not only the medicines prescribed but also value added services such as patient counseling, free consulting (Libreng Konsulta), Mobile Lab services and more. Medical products are stored at temperature-controlled chambers to ensure their potency and effectiveness.
Such commitment is its way of returning the favor to patrons who have put their trust on the Generika brand.
It has exemplary record as a drugstore business
Generika Drugstore has been a recipient of multiple awards in the industry, as its efforts towards promoting wellness, inclusive business practices, public service, and shared values.
- 2018 Anvil Award
- 2017 Asia Pacific Entrepreneurship Award
- 2017 ASEAN Inclusive Business Award
- 2017 Philippine Quill Professional Excellence Award
It has dedicated support for franchisees
Franchisees holding the Generika Drugstore brand can expect full guidance and support from the franchisor. This is expected from the franchise owner who built the brand and established it to the way it is right now.
Investment cost ranges from P900,00 to P1.7M, inclusive of the following:
- Franchise/ Initial Fee
- Business permits
- Security deposit to commissary
- Computers, software, POS system
- Initial inventory
- Pharma, operations and marketing supplies
- Store renovation
- Furniture and fixtures
- Operating capital
Responsibilities of the franchise applicant, under the guidance of Generika Drugstore includes the following:
- Hiring of store renovation contractor
- Hiring of staff
- Securing business permits
Frequently Asked Questions
How long is the franchise contract?
The franchise contract is good for five years and can be renewed. For renewal of the franchise contract, you will be charged 30% of the prevailing franchise fee. This renewal is valid for another five (5) years.
Can I sell my franchise?
Yes. However, you as the franchise holder must inform Generika of your intention to sell. Generika will have to evaluate the interested party and make sure that he/she is qualified to take over the existing franchise.
What areas are open for franchise?
Generika Drugstore is open for franchise across the Philippines.
Does Generika Drugstore provide franchisees with locations?
In most cases, Generika Drugstore does not provide franchises business locations, as good sites are difficult to get and are quickly taken. Generika suggests that franchises look for a site themselves to be able to get a franchise sooner.
What are the franchisee’s responsibilities regarding site assessment?
It is important that you do your own due diligence, conduct your own investigation about the proposed location, assess its strong points and weak points, and/or explore further possible aspects of a site.
Generika Drugstore focuses on the issues related to a location that it believes are important; however, if there are other things important to you, or other issues that you’re aware of, use this report as your guide to determine if this location is right for you.
Finally, as a franchisee, you are responsible for making the decision on the choice of location, and negotiating the rent and other terms and conditions of the contract. Generika Drugstore’s reports, comments and recommendations are presented only as an additional reference and help.
What are the location requirements?
Locations should be at the ground floor, located along a main street, preferable at a corner intersection, and highly visible outside with no major obstruction to access. There should be dense residential areas nearby, and good pedestrian traffic. Ideal locations are near landmarks, like public markets/commercial areas, jeepney or tricycle terminals. Presence of nearby hospitals or clinics is an advantage but it is not required.
What is the required store size for a Generika Drugstore branch?
Generika Drugstore requires approximately 20 sqm up to 40 sqm, preferably with at least 3-4 meter frontage. 20 to 40 sqm is usually ideal and will accommodate the customer area, equipment such as three sets of computers, refrigerator, compounding area, shelves, counters and cashier tables, as well as storage for the stocks.
Preferably, the sites should also have a restroom, but it is not an absolute necessity.
What are the store models of a Generika Drugstore?
Generika Drugstore has one store model: the Standard Model. The Standard model is used for locations where the market population is above 30,000 and the required store floor space is more than 25 sqm.
What qualities do we look for a Franchisee?
A Franchisee must be hands-on, knowledgeable in managing a business, has the capacity to open and operate multiple branches, and must be financially able to sustain a franchise business.
Phone: (02) 828-1818