Generika Drugstore

Bypinoyentre

Dec 7, 2009

Generika Drugstore

Generika Drugstore was owned and operated by Erikagen, Inc. The company was established on September 2003  to educate Filipinos about generics, and to provide them with access to quality affordable generic medicines.

The venture started slowly and cautiously, opening its first outlet in May 2004 in Montillano street, Alabang.  As of April 2008, 16 company-owned outlets are fully operational in strategic locations of Metro Manila, Laguna and Cavite. Also, a major milestone that signals faster expansion of the Generika chain of drugstores just took place. The company opened its 17th store and first franchise store in May 2008 at Mega Q Mart in Cubao, Quezon City.

The company’s focus is on generic medicines as a value-for-money alternative to branded products. Generika fully believes in and supports the thrust of the government to provide quality and affordable generic medicines to the Filipino people. Many of our store outlets are already accredited as Botika ng Bayan.

Equally important is the corporate commitment of Generika to the quality of the medicines offered to customers. Generika takes a long term view and aims to firmly establish its reputation and credibility both in the industry and the marketplace. We carry only BFAD approved medicines, but take the additional step of screening and selecting only those that meet/exceed our internal standards. We put the quality of the medicines we sell above all other considerations. Moreover, periodic monitoring of the products is done thereafter to ensure that quality remains consistent. Substandard products are rejected outright. We will not compete for market share simply by offering the lowest price.

While the company’s focus is on quality generics, Generika Drugstore also carries branded medicines, medical supplies, galenicals and selected consumer goods – all at competitive prices. Our aim is to be a more complete drugstore than many typical outlets in the market.

How to Franchise Generika Drugstore:

The total investment cost is divided into two components :

The Franchise Package and refers to what is paid to us as Franchisor. Its amount and content varies according to the type of outlet that is opened (Regular, or Small Town, or Drugstore Conversion).

The Franchise Package includes:

  • The Franchise fee itself
  • Computer hardware (2 or 3 PC package) and OS licenses
  • Retail expert, the proprietary POS system of Generika, which helps you manage your sales transactions, inventories and facilitate customer service and is regularly loaded with new features and modules
  • Security deposit to our commissary (refundable)
  • Initial inventory
  • Pharma supplies
  • Marketing supplies and sound system
  • Operations supplies

Other costs shouldered directly by the Franchisee are the following:

  • Store signages
  • The space’s renovation and equipments (counters, shelves, aircon, refrigerator..)
  • Rentals deposits to the lessor
  • Initial permits
  • Rolling capital

Total Investment Cost: depending on the store’s size, condition, etc.

Purchasing the Generika Franchise entitles you to the following:

  • The right to use the Generika trademark and logo
  • Site market study conducted on site by our Business Development Team. This serves to evaluate the sales potential of your proposed location
  • Architectural/store design and construction assistance Pre-opening and start up assistance
  • HR support in the assistance in the recruitment of store personnel – note that all your personnel will undergo our screening, evaluation and training
  • Classroom and store-based training of your store personnel on pharmacy retailing and management, computerized operations and customer service
  • The use of Retail expert, our proprietary POS system, regularly improved with new modules and features
  • Regular monitoring of your outlet
  • Ongoing business consulting and guidance
  • Refresher training on new products and services
  • National and local marketing support
  • Easy stock replenishment and direct delivery to your outlet
  • Updates on new products

Franchising Term: Five (5) years.

Required Space:

  • 20-25 sqm. up to 60 sqm. preferably with at least 4 meter frontage. This is needed because of the equipments such as 3 sets of computers, refrigerator, compounding area, shelves, counters and cashier tables, as well as for the stocks.

Required Location:

  • Should be ground floor, located along a main street, preferably at a corner intersection, and highly visible outside. There should be dense residential areas nearby and good pedestrian traffic counts. Ideal locations are near landmarks, like markets/commercial areas, jeep or tricycle terminals, or located strategically where many people pass. Presence of nearby hospitals or clinics is an advantage but is not required.

Generika is open for franchise nationwide (Luzon, Visayas, Mindanao)

Contact Details of Generika Drugstore:

ERIKAGEN INCORPORATED
DPI Bldg., 1st St. Cor. 2nd St., Cervantes Compound,
KM. 17, West Service Road, Parañaque City, Philippines
Hotline: (632) 8828-1818
Email : [email protected]
Website: www.generika.com.ph
Facebook Page (This link will open on a new window)

Basics of Franchising Generika Drugstore

Franchising benefits

Franchisees gain access to a proven business model, established brand reputation, and ongoing support from Generika Drugstore, reducing the risks associated with starting a new business. They benefit from collective advertising and marketing efforts conducted by the franchisor, which can result in increased customer traffic and sales. Franchisees also have the opportunity to tap into the training and operational resources provided by the franchisor, enhancing their chances of success and profitability. Below are just a few pointers why franchising Generika Drugstore is beneficial for the inverstors:

High success rate due to its business model rather than starting from scratch.

Franchising Generika Drugstore offers the advantage of tapping into an established reputation and customer base, which can significantly reduce the time and effort required to build brand recognition. Additionally, franchisors typically provide comprehensive training, ongoing support, and proven business models, mitigating many of the risks associated with starting a new venture.

Franchisees benefit from economies of scale in purchasing, marketing, and operational support, which can lead to cost efficiencies and improved profitability.

Overall, franchising offers a structured pathway to entrepreneurship with a higher likelihood of success compared to launching a new brand independently.

Generika Drugstore is a recognized brand or trademark that can bring you success.

Success is achievable for franchising recognized brands like Generika Drugstore due to their established reputation, which can attract customers more readily and build trust faster than starting a new brand. Franchisees benefit from proven business models, operational support, and marketing strategies provided by Generika Drugstore, reducing the risks associated with independent entrepreneurship.

Additionally, being part of a well-known brand network offers access to economies of scale, collective marketing efforts, and a support system among fellow franchisees, enhancing the likelihood of success.

Availing financing from various sectors is highly likely due to a good brand reputation.

Financing is often more readily available when franchising a reputable brand due to several factors. Banks and lenders are typically more willing to provide loans to franchisees of established brands because they have a proven track record of success and lower risk compared to new, unproven businesses.

Additionally, franchisors may have relationships with financial institutions or offer financing options themselves, making it easier for franchisees to secure funding. The recognizable brand name and business model of Generika Drugstore also provide a level of security for lenders, increasing the likelihood of loan approval and favorable terms for franchisees.

Formula for success that a franchisor may provide.

Low-cost supplies and efficient supply chain management contribute to higher profit margins for franchisees by reducing the cost of goods sold. Effective marketing increases brand visibility and customer traffic, leading to increased sales and revenue. A prime location maximizes foot traffic and accessibility, further enhancing the franchisee's revenue potential and profitability.

5 things to consider when franchising Generika Drugstore

1 Make sure that you really want to own this franchise and this will best fit your venture among other offered business opportunities.

2 Be certain that you can work harmoniously with Generika Drugstore franchise and it is within your interest. A visit to one of the franchise store will help you be more aware of operation and proceedings.

3 Carefully study the Terms and Condition, Franchise Agreement, and what are included in franchising Generika Drugstore.

4 Check if Generika Drugstore franchise will be compatible with the rules and regulation, as well as existing laws on chosen location.

5 Best location is one key aspect to have a successful Generika Drugstore franchise. Study the environment and see if your business suits the surroundings.

Successful frachising 101

Becoming a successful Generika Drugstore franchisee requires a combination of strategic planning, dedication, and hard work. Here are some steps you can take to increase your chances of success:

Research

Start by researching various franchise opportunities to find one that aligns with your interests, skills, and financial resources. Look for franchises with a proven track record of success, strong brand recognition, and a supportive franchisor.

Understand the Franchise Agreement

Carefully review the franchise agreement, including all terms, fees, and obligations. Make sure you fully understand the expectations and requirements of being a franchisee.

Financial Planning

Evaluate your financial situation and determine how much capital you have available for investment. Consider not only the initial franchise fee but also ongoing expenses such as royalties, marketing fees, and operational costs.

Training and Support

Choose a franchise that offers comprehensive training and ongoing support to franchisees. Take advantage of all training programs provided by the franchisor to learn the ins and outs of the business.

Location Selection

If the franchise involves a physical location, carefully choose the location for your business. Consider factors such as foot traffic, demographics, competition, and lease terms.

Follow the System

One of the benefits of franchising is that you're buying into a proven business model. Follow the franchisor's system and guidelines closely to increase your chances of success.

Provide Excellent Customer Service

Focus on providing excellent customer service to build a loyal customer base. Happy customers are more likely to return and recommend your business to others.

Marketing and Promotion

Take advantage of the marketing support provided by the franchisor, but also be proactive in promoting your business locally. Utilize social media, local advertising, and community events to attract customers.

Manage Finances Wisely

Keep track of your finances closely and manage expenses efficiently. Monitor your cash flow, budget carefully, and seek professional advice if needed.

Adapt and Innovate

Be willing to adapt to changing market conditions and customer preferences. Look for opportunities to innovate and differentiate your business from competitors.

Network with Other Franchisees

Connect with other franchisees within the same system or industry to share insights, experiences, and best practices. Networking with fellow franchisees can provide valuable support and advice.

Stay Committed

Building a successful franchise takes time and effort. Stay committed to your business, remain focused on your goals, and be prepared to overcome challenges along the way.

By following these methods and staying dedicated to your business, you can increase your chances of becoming a successful Generika Drugstore franchisee.

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