Health Mart Pharmacies... exciting for independent retail?

[p-rog]

I've been seeing their ads on tv lately and they peeked my interest. Here's an example of one that aired during the superbowl:

[YOUTUBE]myRMF0JK85I[/YOUTUBE]

All their ads seem to have the same theme focusing on pharmacists actually counseling patients and doing (pseudo)MTM for free.

Here's their website: http://www.becomeahealthmart.com/


Is this something to be excited about for retail in any way?

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Members don't see this ad.

 

[WVUPharm2007]

If only I had the startup costs. And no student loans. 🙁

 

[Filler]

Seems to be a quasi-independent pharmacy, using the "franchise model" that plenty of fast food joints have been using for a while now(Subway, Dunking donuts, etc). I think the most well known one in my area may be The Medicine Shoppe. Sadly, at the end of the day it's still connected to a large corporation (Cardinal) that can influence it's daily business, it's having its own issues.

 

[PumpkinSmasher]

Seems to be a quasi-independent pharmacy, using the "franchise model" that plenty of fast food joints have been using for a while now(Subway, Dunking donuts, etc). I think the most well known one in my area may be The Medicine Shoppe. Sadly, at the end of the day it's still connected to a large corporation (Cardinal) that can influence it's daily business, it's having its own issues.

Actually it is nothing like he fast food franchise model you speak of, just fyi. You may want to check out their website before speaking. I encourage anyone who is interested or actually knows anything about Medicine Shoppe, to look into Health Mart, very different set up altogether. Do not listen to posters who have no idea what they speak of...

 

[Filler]

Actually it is nothing like he fast food franchise model you speak of, just fyi..

Franchising is more or less a general term in reference to a business model that is used. In essence, you are paying a fee to use a brand name, now every company runs its business model differently, including protocols to how the business must be managed, fee's that apply/how they are paid and can even go down to where you have to buy your toilet paper from. Sure, its may not have the franchising platform of a Subway, but none the less this isn't a new concept or something that's revolutionary. Maybe McKesson might (and hopefully) allow more autonomy to each individual owner compared to Cardinal.

Oh, and from their website:

A Better Franchise Model
Pharmacies do not need to pay an initiation fee to join Health Mart. They pay only a low monthly fee, which is not tied to revenue, to enjoy the numerous benefits Health Mart provides. Franchisees can leave the network, without penalty, at any time during the life of their franchise agreement by providing 90 days' written notice.

I guess I do know what I'm talking about


Here's an article, circa 2006...if anyone cares..

 

[The Fargoan]

I have worked at one HealthMart and am finishing a rotation at another pharmacy. I wouldn't describe HealthMart as a franchise. Yes you are closely tied to McKesson, but they have nothing to do with running the day-to-day business. They send people around to reset your OTC sections if you want. They can help you with contracting, if you want. Certainly you would use McKesson as your primary distributor (and don't spend too much money anywhere else for fear of losing rebates). But you own the store and set your own rules.

I am seriously considering a junior partnership with an independent. McKesson is helping me find stores with interested sellers.

 

[PumpkinSmasher]

Franchising is more or less a general term in reference to a business model that is used. In essence, you are paying a fee to use a brand name, now every company runs its business model differently, including protocols to how the business must be managed, fee's that apply/how they are paid and can even go down to where you have to buy your toilet paper from. Sure, its may not have the franchising platform of a Subway, but none the less this isn't a new concept or something that's revolutionary. Maybe McKesson might (and hopefully) allow more autonomy to each individual owner compared to Cardinal.

Oh, and from their website:

A Better Franchise Model
Pharmacies do not need to pay an initiation fee to join Health Mart. They pay only a low monthly fee, which is not tied to revenue, to enjoy the numerous benefits Health Mart provides. Franchisees can leave the network, without penalty, at any time during the life of their franchise agreement by providing 90 days' written notice.

I guess I do know what I'm talking about


Here's an article, circa 2006...if anyone cares..

I never said Health Mart was not a franchise, all I said was that you were completely wrong when you compared it to a 'fast food franchise model'. If you think Subway and Dunkin Donuts only take a small flat monthly fee as their franchise fee then you have another thing coming.

MSI however does operate under such a model.

So in fact you did not know what you were talking about.

 

[Filler]

I never said Health Mart was not a franchise, all I said was that you were completely wrong when you compared it to a 'fast food franchise model'. If you think Subway and Dunkin Donuts only take a small flat monthly fee as their franchise fee then you have another thing coming.

MSI however does operate under such a model.

So in fact you did not know what you were talking about.

....

Franchising is more or less a general term in reference to a business model that is used. In essence, you are paying a fee to use a brand name, now every company runs its business model differently, including protocols to how the business must be managed, fee's that apply/how they are paid and can even go down to where you have to buy your toilet paper from. Sure, its may not have the franchising platform of a Subway, but none the less this isn't a new concept or something that's revolutionary. Maybe McKesson might (and hopefully) allow more autonomy to each individual owner compared to Cardinal.

Unless you can point out where I said Health Mart = Subway/DD, I don't see what your arguing about. I said health mart uses a franchise model, and then went ahead to provide some examples of businesses best known for using that model.

 

[type b pharmD]

i would think of health mart as a franchise in that as an operator, you are paying a company a fee for some level of business framework/advisory (hmm , inventory management?) to build off of, and branding , basically the definition of a franchise.

the franchise agreement, as it is known, governs what and how a business can run. Fast food restaurants in general are known for extremely strict/stringent franchise agreements