With medicines being a necessity in many people’s lives, a pharmacy business is one of the most lucrative means of earning income as entrepreneur. If you are thinking about opening a pharmacy business, then it might be a good idea to choose The Generics Pharmacy (TGP).
Founded as Pacific Insular Co., a German importer and wholesaler of medicine in 1949, the company changed hands to the Liuson family who bought it in 1959 from the original owners. By 1983, TGP chairman Mr. Benjamin Liuson decided that the company will focus on offering wholesale generic medicine at lower prices and lower margins.
It was in 2001 that the company ventured into retail; but it won’t be until 2007 that TGP would open its doors to franchising. The first TGP franchise was opened in Pasay City.
Photo credit: Dumagueteneo
Depending on the individual performance of the franchise outlet, franchisees could get their return on investment (ROI) in around 2 to 3 years.
How to Franchise The Generics Pharmacy (TGP)
Prepare to shell out Php600,000 to Php800,000 if you plan on operating your own The Generics Pharmacy (TGP). All stores are also required to pay a royalty fee of 1% of gross sales and an advertising fee of another 1% of gross sales every month.
The franchise agreement covers 3 years and is renewable for two more 3-year terms for a total of 9 years.
The franchise fees cover the following:
- Architectural/Store design and construction assistance
- Extensive training on pharmacy retailing, business management/operations and customer service
- Franchise operations manual
- Guidance and education on generic drugs
- Marketing and Promotion assistance
- Regular advertising support
- Right to use TGP’s trademark, name and logo
- Site evaluation assistance
- Start-Up and Pre-opening assistance
Photo credit: CDO Dev
TGP also provides the following continuing support, ensuring that the outlet keep its performance at an optimum level:
- Direct and Open-line communication with franchisor
- National and local store marketing support and guidance
- Ongoing business consulting and guidance
- Refresher trainings on new products, services, promotions or retail innovations
- Regular monitoring of outlet
If you’re planning to franchise TGP, you should meet the following requirements:
- Provide a proposed location that complies with the following:
- At least 15 sq m in size
- Located at least 1 km away from the nearest TGP outlet
- It can be inside a mall with a cinema
- The outlet should have a registered pharmacist for each work shift.
Prepare the following requirements:
- Filled-out Franchise Pre-qualification Form
- Letter of intent
- Resume with colored ID
- Vicinity or location map of the proposed site
Send your application to the following address:
The Generics Pharmacy
Km. 14 Edison St., corner Cul demsac St., Leviste Homes
West Service Road, Sun Valley Paranaque City 1700
Telephone Number: (632) 821-1111
Fax: (632) 821-5304; (632) 821-6103; (632) 823-0267
The company will review your application. Once you qualify, TGP will invite you to a business meeting to discuss details of the franchise agreement and terms.
Here’s a success story of a former pharmacy salesman who now owns 90+ pharmacy outlets: