Medicap Pharmacy knows that quality pharmacy goes way beyond just prompt prescriptions. At Medicap, quality care means serving customers the prescriptions and medications they need in a quick and friendly manner, in addition to personal care and attention that they expect and deserve. Customers of Medicap Pharmacies know they can depend on the extensive knowledge of their pharmacist, and that he or she will take the time to get to know them and their unique needs.
Full Franchise Information
Medicap offers a convenient, low-cost, professional pharmacy store franchise model. Medicap Pharmacy store layouts are typically 1,500 to 2,000 square feet. The stores average 90 percent prescriptions and 10 percent over-the-counter products, including Medicap-brand private label. The company specializes in starting new stores and converting existing drug stores and independent pharmacies into the Medicap concept. Medicap franchisees should have general business experience, and some experience in the pharaceutical industry.
Medicap Pharmacy Franchise Opportunities – History
Medicap Pharmacy was founded in 1971, and opened its first store in Des Moines, Iowa, called the Medicine Chest, and emphasizing a combination of convenience, savings and a heightened level of patient care. The company began franchising in 1973, and by 1981 had grown to 28 locations across Iowa. In 1984, the network expanded beyond Iowa, opening a Medicap Pharmacy in Minnesota. By 1993, the 100th Medicap Pharmacy opened for business. In 2003, Medicap Pharmacies Inc. was acquired by Medicine Shoppe International, Inc. (MSI) and continues as a wholly owned subsidiary of MSI. Together, MSI and Medicap Pharmacy stores form a network of more than 800 locations in the United States and more than 400 in five other countries.
Medicap Pharmacy Franchise Cost / Initial Investment / Medicap Pharmacy Franchise Income
The franchise fee for Medicap Pharmacy is $3,000 to $15,000. The total estimated investment to open and operate a Medicap Pharmacy franchise ranges from $22,100 to $447,000. A royalty fee averaging 3% on gross receipts is paid to the company, in addition to a 1% advertising fee.
Medicap Pharmacy Business Opportunities: Other Information
In addition to their pharmacy stores, Medicap Pharmacy operates a network of Specialized Care Centers, locations that concentrate their care on a particular health focus, such as diabetes, long-term care or home medical supplies. Medicap’s Specialized Care Centers reach above and beyond in serving customers’ unique health care needs.