| 1. |
What is Generic Name? |
|
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 |
|
Go back to top
|
|
| 2. |
How much is the total franchise investment? |
|
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. |
|
Go back to top
|
|
| 3. |
What does the franchise fee cover? |
|
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 |
|
Go back to top
|
|
| 4. |
What is the term of the franchising agreement? |
|
The initial term of the franchise agreement is three (3) years, renewable to 2 additional 3-year terms for a total of 9 years. |
|
Go back to top
|
|
| 5. |
What other continuing support will I receive? |
|
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. |
|
Go back to top
|
|
| 6. |
How much is the royalty fee? |
|
The royalty fee is 1% of gross sales for continuing support services. |
|
Go back to top
|
|
| 7. |
When do I pay the Royalty fee of 1% of sales? |
|
Monthly on every 15th of the succeeding month. |
|
Go back to top
|
|
| 8. |
Will franchisor increase franchising and royalty fees in the future? |
|
Yes, depending on prevailing situation. |
|
Go back to top
|
|
| 9. |
Will we get a comprehensive operations manual? |
|
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. |
|
Go back to top
|
|
| 10. |
Will we be trained on The Generics Pharmacy system of operations? |
|
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. |
|
Go back to top
|
|
| 11. |
What if the space is less than 15 sqm? |
|
It will not be approved by FDA. |
|
Go back to top
|
|
| 12. |
Will I have exclusive territory? |
|
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. |
|
Go back to top
|
|
| 13. |
What are the opening hours? |
|
Each franchisee will decide dependent on the market demands. |
|
Go back to top
|
|
| 14. |
When do I return unsaleable stocks? |
|
Within 90 days from the date of purchase. |
|
Go back to top
|
|
| 15. |
When should I pay for the initial stocks delivered? |
|
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. |
|
Go back to top
|
|
| 16. |
How to become The Generics Pharmacy Franchisee? |
|
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. |
|
Go back to top
|
|
| 17. |
How do I start the whole process? |
|
a. Attend The Generics Pharmacy Business Seminar at the scheduled date.
b. Call Ms. Joy Flores at 821-1111 local 402 or 0917 801 1104 to register.
c. Look for location and have it approved by TheGenerics Pharmacy Franchising Corporation.
d. Register with DTI if single proprietorship and SEC for Corporation.
e. Get a lease contract from landlord.
f. Proceed with the renovation (shelves and signage)
g. Look for a licensed pharmacist.
h. Complete the FDA requirements and send to TheGenerics Pharmacy.
i. Apply City Hall permits.
j. Apply BIR permits.
k. Apply permit for POS and/or Sales Invoice & O.R.
l. Be prepared for actual training (franchisee, pharmacist, and assistant) |
|
Go back to top
|
|
2 FOOD SUPPLEMENTS