Do you want to start a pharmacy business by buying a franchise? If YES, here are 4 best pharmacy franchise opportunities for sale and their cost.
The pharmaceutical industry is one industry that discovers, develops, produces, and markets drugs or pharmaceutical products that can be used as medications that are administered to patients, with the aim of alleviating symptoms, curing them, or providing a sort of vaccination.
Pharmaceutical companies may deal in generic or brand medications and medical devices that are used for medical purposes. According to Mayo clinic, nearly 70% of Americans are on at least one prescription drug, over half of Americans take two prescription drugs, and 20% of Americans are on at least five prescription drugs.
4 Best Pharmacy Franchise Opportunities for Sale and Their Cost
- Medicap Pharmacy
Medicap Pharmacy is a go-to pharmacy in the Untied States. Medicap knows that quality pharmacy goes way beyond just prompt prescriptions. At Medicap, quality care means serving customers the prescriptions and medications they need in a quick and friendly manner, in addition to personal care and attention that they expect and deserve.
Customers of Medicap Pharmacies know they can depend on the extensive knowledge of their pharmacist, and that he or she will take the time to get to know them and their unique needs. Medicap offers a convenient, low-cost, professional pharmacy store franchise model. Medicap Pharmacy store layouts are typically 1,500 to 2,000 square feet.
The stores average 90 percent prescriptions and 10 percent over-the- counter products, including Medicap-brand private label. The company specializes in starting new stores and converting existing drug stores and independent pharmacies into the Medicap concept. Medicap franchisees should have general business experience, and some experience in the pharmaceutical industry.
- Liquid capital required – $55,000
- Investment – $22,100 – $447,000
- Franchise fee – $15,000
- Royalty – 3.0%
- The Medicine Shoppe
The Medicine Shoppe pharmacy was established in 1968 by St. Louis pharmacist, Michael Busch. Busch’s mission was to bring to his community a pharmacy that was both dedicated to personalized service and managed by the pharmacist.
In 1970, Busch established Medicine Shoppe International, Inc. (MSI), allowing him to extend franchise-ownership opportunities to other customer-friendly, entrepreneurial pharmacists and independent investors. In 1971, the first franchised Medicine Shoppe pharmacy opened.
Today, MSI continues to grow and focus on the needs of the customer by offering a full line of over-the-counter products, important health screenings, and the personal care and attention of a knowledgeable pharmacist who always takes the time to get to know his or her customers.
- Liquid capital required – $10,000
- Net worth required – $50,000
- Investment – $77,000 – $152,500
- Franchise fee – $10,000
- Health Mart
Health Mart is a national network of independently owned and operated pharmacies, with more than 3,000 franchises in communities around the country, each offering special care and service only available from a trusted member of the community.
Health Mart creates partnerships with pharmacists who are the neighbors and friends of customers, and who are clinically trained specialists who care deeply about the health and well-being of the community and people who live in it.
Health Mart aims to be more than just a store at which to drop off and pick up prescriptions; they go the extra mile to provide service and care that customers expect and deserve. Health Mart pharmacists take the time to get to know their customers, as patients and people, so that they can count on Health Mart in times of need.
Health Mart offers an innovative franchise program designed to enhance an independent pharmacy’s ability to compete with chain, mail-order programs and other businesses. Health Mart was ranked Number One in pharmacy customer satisfaction in 2008 by Wilson Health Information in its WilsonRx Pharmacy Satisfaction Survey.
- Cash Investment: $9,500
- Investment Range: $9,500 – $9,500
- Franchise Fees: $9,500
- Good Neighbor Pharmacy
Good Neighbor Pharmacy is a national network of independently owned and operated pharmacy locations with more than 3,100 stores. As independently owned and operated stores, they have built a reputation for being “Locally owned.
Locally Operated. Locally Loved.” The Good Neighbor Pharmacy network is a trademark of AmerisourceBergen Drug Corporation, a drug wholesale and distribution company, based in Chesterbrook, Pennsylvania. The Good Neighbor Pharmacy network has numerous locations throughout the United States – dotting the map from coast to coast.
Good Neighbor Pharmacy ranks “Highest in Customer Satisfaction with Chain Drug Store Pharmacies” two years in a row according to J.D. Power and Associates’ National Pharmacy Studies in 2013 and 2014. Good Neighbor Pharmacy is a superior choice offering personalized service, affordable products and exceptional care that only a local, community pharmacy can provide.
- Franchise cost
Good Neighbor Pharmacy franchisees are required to pay a monthly participation fee to AmerisourceBergen Drug Corporation to receive access to innovative and creative solutions that help grow their business and compete with larger chain drug stores.