How to Start Dr Lal Path Labs Franchise in India ?

Overview

After facing the pandemic, the world has realized the importance of health and the healthcare sector had seen a major boost in terms of profit and the providing of its services. Starting a new business on your own in the healthcare sector becomes a very difficult task, hence, there has been a huge spike in the acquiring of Franchises of various known brands that deal in the healthcare sector. If we talk about the diagnostic segment, Dr Lal Path Labs is one of the renowned diagnostic chains in the market.

With more than 60 years of experience in the field of Pathology labs, Dr Lal Path Labs has become India’s leading diagnostic healthcare Chain. The recent stats claim that the brand has more than 12 million customers who avail and trust their services. They have a wide range of tests to offer to their customers that range from Molecular Diagnostics, Biophysics, Flow Cytometry, Immunophenotyping, Cytogenetics, Endocrinology, Genetics, Nutrition, and Metabolism, Oncology, and so on. Combining, all of the above aspects, the brand offers more than 1650 tests and panels.

The brand has achieved various milestones on a national and even on an international basis. The various achievements such as India’s highest certified laboratory. Various other milestones such as accreditation from College of American Pathologists (CAP), National Accreditation Board for Testing and Calibration Laboratories (NABL), Ministry of Science and Technology, Govt. of India. The brand is also ISO 9001:2000 certified, this gives it enough credit to be trusted by millions of customers and avail the services of the same. As a unitholder, you are accredited with various advantages and the associated brand value with the same.

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Advantages of Acquiring Dr Lal Path Labs Franchise in India

• Franchises are acquired by business owners with the intention of taking advantage of the already built-up brand value of the company. However, there are also various other advantages that a unitholder needs to look out for. The various advantages of acquiring Dr Lal Path Labs Franchise are mentioned as follows.

• One of the edging factors of acquiring Dr Lal path Labs Franchise is to benefit from the brand value associated with it. The brand has already driven a huge customer base over the years and hence as a unitholder, you do not have to channel any funds or capital for the marketing of your business. On seeing a Dr Lal Path Labs Franchise unit open in an area, the people would themselves step up to avail the services.

• As a unitholder, the brand provides you a lot of support and guidance by providing and training the staff with their unique technology and software usage. The brand provides unitholders with the unique “STARLIMS”, top–of–the–line Laboratory Information Management Software (LIMS). This is one of the crucial techs that is being used by the brand to conduct various tests efficiently and offer valuable service to the customers.

• As discussed above, the brand operates in the healthcare sector, due to the recent realization and various health problems faced by the masses, having your business running in the healthcare sector, becomes an advantage. You never have to worry about going ‘out of business’ but rather, the demand for the services rises every day, as more and more people are now aware of the importance of conducting tests from time to time.

• As it is a diagnostic chain, the brand representatives help the franchise unitholder with for the marketing and sales support with the local hospital and medical association. With their access to advanced technology and software, they provide a centralized network system through which anyone can access their test results via a barcode sign.

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Investment Required

Dr Lal Path Lab offers two types of Franchise models to the interested candidates, i.e., Diagnostic centre Franchise and sample collection centre Franchise. Depending on your budget and your interests, you can choose to acquire either of the Franchise models. For Starting a Diagnostic centre Franchise, you would require an investment amount of around 1.25 Crore, which is very high, however, it comes with its own benefits. If you are wishing to start a Sample collection centre franchise, the investment amount ranges between 3 to 5 lakhs INR. Since the number of equipment and the required area is less in the sample collection centre Franchise, the investment amount is also less as compared to a diagnostic centre.

Requirements

• To be a part of such a renowned brand, there are certain requirements to be fulfilled from your end to qualify for the same. The various requirements for starting Dr Lal Path Labs Franchise are mentioned as follows.

• The minimum area that is required for starting a Diagnostic Centre Franchise is around 3500 sq. ft. Another condition is that the location of the diagnostic centre should either be on the ground or central level. As for the sample collection centre Franchise, the required area is around 250 to 300 sq. ft and the unit should be on a ground level with toilet facilities.

• For a diagnostic centre, you are required to have a staff that have experience or have lab experience or have been from a pathology background. As for collection centre, the staff employed should be from the medical background to be qualified to run the unit.

• The brand provides you with all the necessary marketing support. It also advises you on the precise list of equipment that is necessary for your unit.

Application Process

The speediest way to apply for the Franchise of Dr Lal Path labs is to visit the official website of the brand. On visiting the website, you can view the additional details with regard to their Franchise. By filing the application form with your personal details, in the event of your qualification, the representatives of the brand would contact you and the process of acquiring the Franchise would move further. The official website of the brand is as follows, 
www.lalpathlabs.com