Case Study 1: The Generics Pharmacy
Year introduced: Franchise functions started in 2007.
Key associates: The Generics Pharmacy, 459 Quezon Garottere., Banaue, Quezon City. Tel. 632-732-3333; 632-712-7777
Brief qualifications or background: The mom company (Pacific Insular Company. ) that gave birth to The Generics Pharmacy (TGP) franchise were only available in 1949 like a family business involved in chemist importation and distribution. In 1974, the present TGP President, Mr. Dernier-ne Liuson, overtook the sturzhelm from his parents. A lot of doctors advised their individuals to use generics, but since the company was just an importer/wholesaler, it could hardly sell medications directly to individuals.
Fortuitously, in 1989, Congress passed the Generics Drug Law (RA 9502), and with the rates of as well as pharmaceutical products soaring, the organization decided to sell generic medicines primarily to government hostipal wards. (Generic medications are completed pharmaceutical items having the same active ingredients, same dosage and form, and same durability as the branded medicines. ) In 2001, the corporation opened it is first chemist to sell generics, a major development in the pharmacy business in those days since simply no drugstore was exclusively offering generics. But generics were still slow-selling because of poor information to patients who buy more pricey branded medicines instead. Nevertheless, there was a continuous flow of generics clients who were originating from nearby pays of Bulacan, Tarlac, Pampanga, Laguna and Cavite (Anon, 2011).
In 3 years ago, TGP tapped Francorp, the earth leader in franchising, to energize its operation development and growth, and therefore became the first generics retail pharmacy to business in the Israel. TGP exposed its 1st franchise drugstore along Taft Ave., Pasay City and within three-and-a-half years, it has reached more than 1, 1000 outlets from coast to coast. The Enterpreneur Magazine offers named TGP one of the Top Ten Businesses from the Decade.
Target areas: Nationwide, centering in spots of hefty traffic.
Health service focus: Chemist products.
Software legal position: The franchisor (TGP) can be described as duly registered company. Dispenses sign a franchise contract with TGP. Franchisees need to register with all the Department of Trade and Industry (DTI) if it is a single proprietorship, or with the Securities and Exchange Commission in case it is a corporation. It also needs to be given the green light by the Food and medicines Administration. It must satisfy every one of the requirements from the local government device in which it can be located, and the Bureau of Internal Earnings. There are more than 300 franchisees, or an average of 3-4 outlets per franchisee.
Business file format: Business franchising.
Sponsor or perhaps implementing organization: Itself as well as franchisees.
Rationale: Between South and East Parts of asia as well as countries of related development level, the Israel has one of the highest pharmaceutic price routines. The goal of The Generics Drug-store franchise should be to make inexpensive generic drugs more open to a greater number of Filipinos at the soonest possible time.
Pharmaceutical franchisingis afinancing and delivery system modeled following the very effective franchising strategies in the fast-food industry. That involves a franchisor (in this case, The Generics Pharmacy) developing a label of high-quality items, offering the justification to use the manufacturer plus every its affiliated business operating routines which includes training, to franchisees (individual investors) who also are helped in setting up their clinic practices along the same lines as the franchisor (brand name, signage and color scheme, menu of pharmaceutical drug products, and pricing and marketing) for which they shell out a fee over a periodic basis.
From your supply part, the key economic principle at the rear of franchising is a standardization of production. Specialty area drives down costs, plus the franchising layout focuses on delivering a few...