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Medicap Pharmacy
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 the 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. More about the cost of owning a Medicap Pharmacy franchise is below.
Facts & figures
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 labels. 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 pharmaceutical 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, 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.
How Much Does A Medicap Pharmacy Franchise Cost?
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 Franchise Business Opportunities: Other Information
In addition to its 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 healthcare needs.
