| 1. |
What is Generic Medicine?
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Generic medicine are finished pharmaceutical product having the same active ingredients, same dosage form and same strength as the branded medicine.
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| 2. |
What is Generic Name?
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Generic Name or Generic Terminology is the identification of drugs and medicine by their scientifically and internationally recognized active ingredients or by their official generic name as determined by the Bureau of Food and Drugs of the Department of Health
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| 3. |
How much is the total franchise investment?
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The total investment for The Generics Pharmacy franchise is about P600,000 to P800,000 for an outlet. This includes the franchise fee as well as a total support system necessary to run The Generics Pharmacy.
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| 4. |
What does the franchise fee cover?
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The franchise fee covers the cost of providing you with pre-opening and start-up assistance, initial training and other support and business development services. For a complete listing of the package, please visit the FRANCHISE PAGE at www.thegenericspharmacy.com/fbenefits.php
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| 5. |
What is the term of the franchising agreement?
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The initial term of the franchise agreement is three (3) years, renewable to 2 additional 3-year terms for a total of 9 years.
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| 6. |
What other continuing support will I receive?
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As our franchisee, our representatives will provide advice and guidance, and check quality control compliance, and may be consulted on any matter you may encounter as you operate the business. Refresher trainings may also be provided as needed.
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| 7. |
How much is the royalty fee?
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The royalty fee is 1% of gross sales for continuing support services.
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| 8. |
When do I pay the Royalty fee of 1% of sales?
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Monthly on every 15th of the succeeding month.
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| 9. |
Will franchisor increase franchising and royalty fees in the future?
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Yes, depending on prevailing situation.
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| 10. |
Will we get a comprehensive operations manual?
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Yes, after you sign a franchise agreement, you will receive a copy of the Confidential Operations Manual containing policies and procedures involved in running the business.
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| 11. |
Will we be trained on The Generics Pharmacy system of operations?
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Yes. At our company owned outlets, franchisees and their staff will be given 3 days training on pharmacy operations, services as well as orientation of generics products and customer service. Training is done 15 days before grand opening.
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| 12. |
What if the space is less than 15 sqm?
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It will not be approved by BFAD.
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| 13. |
Can I rent a space of more than 15 sqm?
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Yes, but not practical because the rent will be higher and you only need 15 sqm to store the entire generics line.
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| 14. |
Can I put beside big drugstore chains?
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Yes, it would not be a problem as long as there is potential market (beside market & hospital).
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| 15. |
Will I have exclusive territory?
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You will not receive an exclusive territory. However, The Generics Franchising Corporation will see to it that each site will service the population to the fullest to make the business viable.
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| 16. |
Can I carry Multinational Branded Medicines?
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Yes, but not advisable because the gross margin is only 5% to 7%.
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| 17. |
Can I carry other products like cosmetics, medical & hospital supplies, chocolates, biscuits, milk products from other source?
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Yes, if you have enough space and capital.
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| 18. |
What are the opening hours?
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Each franchisee will decide dependent on the market demands.
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| 19. |
When do I return unsaleable stocks?
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Within 90 days from the date of purchase.
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| 20. |
When should I pay for the initial stocks delivered?
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When it is sold, then you will order, the company will deliver additional stocks also on consignment. The franchisee will pay the oldest account first per invoice.
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| 21. |
Should I follow the price updates of TGP every time it changes?
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Yes, you can also sell higher than the suggested retail price depending on your location.
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| 22. |
Can we put up LOTTO outlets?
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Sorry, we do not allow that.
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| 23. |
How to become The Generics Pharmacy Franchisee?
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a) Submit the following:
• Letter of intent
• Vicinity or location map of the proposed site
• Filled-out Franchise Prequalification Form
www.thegenericspharmacy.com/frform.php
• Resume with colored ID
b) We will review and evaluate your qualifications thoroughly.
c) If qualified, we will invite you to a business meeting to discuss the details and terms of the franchise prior to signing the franchise agreement.
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| 24. |
How do I start the whole process?
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a. Look for location and have it approved by Global Franchise Marketing Network and TheGenerics Pharmacy.
b. Register with DTI if single proprietorship and SEC for Corporation.
c. Get a lease contract from landlord.
d. Proceed with the renovation (shelves and signage)
e. Look for a licensed pharmacist.
f. Complete the BFAD requirements and send to TheGenerics Pharmacy.
g. Apply City Hall permits.
h. Apply BIR permits.
i. Apply permit for POS and/or Sales Invoice & O.R.
j. Be prepared for actual training (franchisee, pharmacist, and assistant)
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| 25. |
OFFER TO THE FRANCHISEES
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1. The Initial Batch of Medicines shall be delivered on consignment, if there are unsaleable items in 90 days, those items may be returned and be replaced by other fast selling medicines.
2. Royalty fee chargeable shall only be one percent (1%) of the Gross Sales, but Franchisor shall start charging said fee only when the outlet shall achieve a Total Gross Sales of P150,000 per month.
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