With the phase of pandemic, people have realized the importance of maintaining proper health and are also aware of taking various precautions rather than falling ill through some disease. With this sudden change, the demand and overall business of the healthcare sector have seen a huge spike. It is not just hospitals, but also other healthcare service providers such as diagnostic and laboratories, that have seen a major rise in demand and in their services. One of the leading brands in the chain of diagnostic services and automated laboratories is the Thyrocare brand.
Having its headquarters in Mumbai, Maharashtra, Thyrocare franchise brand is a chain of diagnostic services and automated laboratories that has its presence in more than 2000 + cities in India. The company had its foundations way back in the year 1996 and was started by one of the famous scientists from Bhabha Atomic Research Centre (BARC) in Mumbai called as Dr. A.Velumani. Within a span of a few years, the brand developed a huge name for itself, a few of its milestones are many accreditations to its name, including ISO 9001:2008, CAP Certification, NABL, Grade A Crisil rating, etc. These accreditations are very difficult to be awarded with and Thyrocare franchise has earned the same.
The company has made various big-shot clients which even includes various top-notch hospitals in the country. Its presence is not just limited to India, in fact, it also has its centers in countries like Middle East, Nepal, Bangladesh, and so on. In the year 2014, Thyrocare became the first ever brand to facilitate and have the world’s largest lab automation track by Siemens Healthcare Diagnostic Division in Mumbai. The brand also raised its very first private equity funding from a New Delhi based CX partners worth Rs.188 crores for a 30% stake. The company then set up a subsidiary called Nuclear Healthcare Limited, which was used to detect and locate cancerous cells by using PET-CT.
Advantages of Acquiring
The USP’s and the benefits that can be derived from acquiring the brand’s franchise is a critical deciding factor for any individual. Although Thyrocare has a huge brand value that can be counted as a major advantage, there are also several other USP’s of Thyrocare that become very significant for its unitholders. The various advantages are as follows.
- When it comes to healthcare, no person would like to compromise any type of service that is being provided. Thyrocare takes special care of the types of services that they provide. They have always given a priority to provide top-notch quality of services to their customers. The company uses best of brands, medical instruments, state-of-the-art technologies and IT systems along with well-trained and highly skilled pathologists, biochemists and scientists to honor the same.
- Thyrocare provides almost every type of diagnostic and test services that one would require. Their list of test services also includes crucial tests such as Fasting Blood Sugar, COVID Antibody Testing (IGG – CMIA), Urine Analysis, Uric Acid Testing, Total Cholesterol Testing, Malarial Antigen, Dengue Testing, Typhoid Test, and so on. This ensures that every unit of Thyrocare franchise has a wide range of services to provide and a good footfall of customers.
- The most significant advantage of Thyrocare brand is that it runs a Centralized Processing Laboratory in Mumbai and various other laboratories in every other location in India. Apart from that, one of the reasons why Thyrocare franchise is the leading brand is that it takes only around 4-8 hours to process any test sample and provide the result to its customers. It is because of its excellent integration of air-cargo logistics, and hi-tech IT enabled systems that help them process or transport any sample from any part of the country to its headquarters located in Mumbai within the same night.
- Taking into account all of the above services and advantages of Thyrocare brand, the next question that comes to a customer’s and even in a Franchise unitholder’s mind is the affordability. To the utter surprise, the services and tests provided by Thyrocare, despite being of high-quality are very affordable for its customers. This, as a franchise unitholder is beneficial as you have the entire classes of people as your target audience.
As Thyrocare belongs to the health sector, it is obvious that the investment amount would be higher. The total investment required for starting Thyrocare franchise is around 1 Lakh INR. This covers all types of expenses, however, the unitholder is also supposed to pay an additional 25,000 INR as a Franchise fee to the brand.
Despite the heavy investment required, the potential of this business is such that Thyrocare has reported an expected return on investment period to be around 6 months for its unitholders. The profit percentage would be disclosed when you become a part of the company as its Franchise unitholder.
Read More: 10 Most Profitable Franchise Business
Requirements for Starting
As Thyrocare belongs to the healthcare sector, there are various strict guidelines and criterions that are supposed to be followed by an individual who is interested in acquiring the Franchise of Thyrocare. The various requirements are mentioned as follows.
- The minimum area required for starting a Thyrocare Franchise unit is between 200 to 300 sq. ft. of area. It is essential that the said unit is in a proper and decent locations for better results and footfall of customers. The area can be owned or leased by an individual.
- For the skills and experience part, Thyrocare has a long list of requirements. The lab technicians should be highly qualified (Diploma or Bachelor’s degree in medical lab technology) and should have the knowledge to use medical lab equipment and tools.
- The franchise should also include professional and skilled biochemist, pathologist and also a microbiologist who can process accurate results efficiently.
- The outlet will also require a medical representative who will be responsible for keeping the staff updating about the changes in the healthcare industry and how new innovative methods and techniques can help them to do necessary changes in the methods of finding accurate results.
There are various ways through which one can contact the brand for Franchise, such as visiting the head office or the official website. The easiest way is to head to their official website and fill the Franchise form. You would be later contacted by the representatives of the brand and the process would scale further. The official website of the brand is as follows. www.thyrocare.com
What is the cost of Thyrocare Franchise?
Around 1,25,000 INR
What is the expected Return on investment period?
Around 6 to 8 months
How to Apply for Thyrocare Franchise?
Visit the official website of Thyrocare, www.thyrocare.com
How many outlets does Thyrocare has?
It has a presence in more than 2000 + cities.
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