MedPlus to open 1,100 outlets in AP, TS

Hyderabad: MedPlus Health Solutions, a city-based retail and e-pharmacy chain, is planning to expand its footprint across the length and breadth of Telangana and Andhra Pradesh.

“Starting today, we will be reaching out to the interior parts of the twin states and set up 1,100 MedPlus franchise stores. This initiative will generate employment for more than 2,000 people across the two states,” Madhukar Gangadi, Founder and Chief Executive Officer of MedPlus, said in a statement on Thursday.

Each MedPlus franchise outlet typically requires an investment of between Rs 15 lakh and Rs 20 lakh. MedPlus plans to appoint franchisees from within the local area. According to Gangadi, the company has partnered State Bank of India to facilitate loans covering up to 70 per cent of the total investment, which could be obtained with 50 per cent collateral. Under this arrangement, the franchises can typically expect to reach operational break-even within six months.

MedPlus has also set up a dedicated team, which will help the franchise owners through the process starting from venue selection to store set up, licensing, recruitment, training and store management. The company is launching this model initially in AP and Telangana, and will replicate the same in other parts of the country.