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Thyrocare Franchise Cost, How to Setup, Profit Margin, Requirements, Investment

Thyrocare Franchise Cost, How to Setup, Profit Margin, Requirements, Investment

Thyrocare Franchise Cost: Established in the year 1996, Dr. A. Velumani, a BARC scientist turned entrepreneur, became the father of Thyrocare. Thyrocare Technologies Limited has emerged as one of the biggest leaders and a trendsetter in the Indian Diagnostic Industry. It is spread across India to over 1000 dedicated service providers that cater to the clinical needs of the end user and small laboratories that outsource high-end testing to Thyrocare. Thyrocare Technologies Limited is India’s first and most advanced fully automated laboratory with a strong presence in more than 2000 cities/towns in India and internationally. Thyrocare is India’s first fully automated diagnostic laboratory with a focus on providing quality at an affordable cost to laboratories and hospitals in India and other countries.

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About Thyrocare Brand

Having its headquarters in Mumbai, Maharashtra, Thyrocare brand is a chain of diagnostic services and automated laboratories that has a presence in more than 2000 + cities in India. The company had its foundations way back in the year 1996 and was started by one of the famous scientists from Bhabha Atomic Research Center (BARC) in Mumbai called as Dr. A. Velumani. Within a span of a few years, the brand developed a huge name for itself, a few of its milestones are many accreditations to its name, including ISO 9001:2008, CAP Certification, NABL, Grade A Crisil rating, etc. These accreditations are very difficult to be awarded and Thyrocare has earned the same.

The company has made various big-shot clients which even includes various top-notch hospitals in the country. Its presence is not just limited to India, in fact, it also has centers in countries like the Middle East, Nepal, Bangladesh, and so on. In the year 2014, Thyrocare became the first ever brand to facilitate and have the world’s largest lab automation track by Siemens Healthcare Diagnostic Division in Mumbai. The brand also raised its very first private equity funding from New Delhi-based CX partners worth Rs.188 crores for a 30% stake. The company then set up a subsidiary called Nuclear Healthcare Limited, which was used to detect and locate cancerous cells by using PET-CT.

Thyrocare Franchise Company Details:

TypePrivately Held
IndustryHealth, Wellness & Fitness
Company size1,001-5,000 employees
HeadquartersNavi Mumbai, Maharashtra
SpecialtiesPreventive Health care, Diagnostic Laboratory, Medical Health Care Services, and PET CT Scan
Thyrocare Franchise Company Details
Thyrocare Franchise Cost

Is Thyrocare Franchise Business Profitable?

Thyrocare Technologies Limited is the industry leader, pioneer, and innovator in the Indian Diagnostic Industry. A company with a network of over 11,000 service centers across the country, its laboratory operations are certified by ISO 9001-2000 and accredited by NABL (National Accreditation Board for Testing and Calibration Laboratories).

If you are an entrepreneur or a lab owner who wants to lean towards a single brand – you can join Thyrocare as a channel partner to earn better returns in the clinical chemistry business.

Thyrocare brings a lot of benefits to franchise partners.

  • Fast-growing diagnostic industry. promising future
  • Quick turnaround time in processing and reporting
  • Already supported by 1 lakh doctors and 40,000 hospitals and labs
  • Dedicated executives as a one-point contact for all queries
  • A thorough induction training by the company (optional)
  • Comprehensive Beginner’s Manual
  • Handholding till completion of first 1000 samples
  • Periodic e-mail broadcasts and announcements

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Why should you choose Thyrocare Franchise?

  • Fastest growing Diagnostics company with a legacy of 26 years
  • India’s leading covid testing lab.
  • World’s longest laboratory track automation – 5M track
  • Trusted by 5000 Partners, 1,00,000 Labs, 25,000 Doctors
  • 15 Regional Processing Labs, 4 Zonal Processing Labs, 1 Central Processing Lab
  • 3 RT PCR processing labs doing 20000 tests per day
  • Recognized, Barcoded, Software Operated
  • A total of 10,00,000 COVID RT-PCR tests have been conducted so far
  • NABL & ICMR approved lab
  • Increase quality collection centers across India
  • Contribute to the expansion of the Thyrocare network
  • Let us reach every taluk headquarter
  • Making testing affordable and accessible to the common man
  • Expand healthcare solutions in your area
  • Build someone in your area to become a healthcare entrepreneur

Requirements for GQC (Good Quality Center):

  • Must have a good quality collection center
  • First, pay 25,000/- to get the source code
  • (Option to pay the balance 75 lacs in installments by paying 10% additional billing)
  • Location 200 -400 Sq (Owned or Leased)
  • Clean and well-equipped infrastructure
  • Human resources including swab collection technicians
  • Internet connection
  • Computers and printers
  • Centrifuge
  • Refrigerator

GQC (Good Quality Center) Advantages:

  • Use Thyrocare Brand
  • 25K payment required to allocate the source code
  • Before telling the business, must order a starter kit worth #####/-
  • data management software
  • Online store for discounted promotional and operational materials
  • Sample pickup from home in all major cities (Rs.100 per pickup)
  • the company leads
  • 10,000/- training absolutely free
Thyrocare Franchise Cost

Documents required for Thyrocare Franchisee:

  • Duly filled Franchisee Application Form
  • Self-attested photocopy of PAN card
  • Aadhar card
  • Affidavit cum undertaking on 100 stamp paper (Direct Customer Business: DPS)
  • Address Proof of the Center (Copy of Rent/Ownership Agreement)
  • floor plan
  • Passport-size photographs of the code owner (4)
  • Photos of the Center (Entrance, Patient Waiting Area, Reception, Specimen Collection Area, Specimen Packaging Area, Washroom)
  • BMW Disposal Agreement / Proof of BMW Application (can be obtained from the local Municipal Corporation)
  • Code Owner Resume/CV
  • Proof of advance payment to the company for the code
  • Broom Collection Technician DMLT Certificate and Experience Certificate
  • Local Authority Permission Letter

Total Investment for Diagnostic Lab Thyrocare Franchise:

You will have to invest around 5 lakhs.

  • Franchisee Fee: 2 Lakh
  • Space 200 Sq.ft – 400 Sq.ft = 30,000 (Rent)
  • Basic Infrastructure :
  • Refrigerator, Interior Work: 70,000
  • Computer, Printer, Internet connectivity: 50,000
  • CCTV, Waiting Chair, Receptionist Table Chair, Bed: 70,000/-
  • Water facility: 10,000/-

Total Expenses of Thyrocare Franchise incurred in a month:

Particulars of ExpenditureAmount
Rent for 300 sqft space30,000
Salary for 10 nos. of employees (reception, technical, sample collector, Manager)80,000
Electricity and Internet expenses5000
Miscellaneous expenses10,000
Total Expenses of Thyrocare Franchise incurred in a month

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Company Guidelines for Thyrocare Franchise:

  • Honest and Transparent B2B Customer Data
  • Transparency in rent paid, outlet owner/tenant, and the salary of employees paid
  • Maintain cleanliness and hygiene in the center at all times
  • Online receipt generation for customers/consumers to maintain price sanitization
  • Complying with the requirements of the regulatory body, NABL at all times
  • Pay emoluments on time to your employees whether full-time or on a contract basis
  • Avoid Credit in the Vertical
  • Not linking to any other brand without the express approval of the company

How to apply for Thyrocare Franchise?

There are some steps you need to follow in order to apply for Thyrocare Franchise which are given below:

  • You need to visit the official website of the Thyrocare Franchise:
  • Fill in all the details properly, and submit the form successfully.
  • After submission, you will get a call from your local area manager within 2 working days.
  • Once you speak to the Area Manager, they arrange an online meeting for you.
  • After attending that meeting, you get all the information about Thyrocare Franchisee.

The process to become a Thyrocare Franchisee:

  • First, they receive your expression of interest.
  • Guide on documents required and procedure to be followed.
  • We get the documents.
  • They approve your center and documents – within 24 hours.
  • You will need to pay in advance for your business.
  • Code activation – 24 hours.
  • Branding and promotional materials within 1 week after the code.
  • Within 24 hours of receiving the training à material.
  • All the material will be sent to your permanent address.
Thyrocare Franchise Cost

FAQs on Thyrocare Franchise Cost

Is Thyrocare Franchise Profitable?
So, you can say that it is profitable. Thyrocare Technologies Limited is India’s first and most advanced fully automated laboratory with a strong presence in more than 2000 cities/towns in India and internationally.

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What is the Thyrocare Franchise Cost?
The approximate amount required as an investment for setting up the equipment in Thyrocare Franchise at your location is Rs. 1 Lac. Rupee. 25,000 is an additional amount that needs to be paid as a franchise fee to the parent company.

How to start a Thyrocare business?
The estimated investment to open a Thyrocare franchise outlet is around 1 lakh. Apart from this, you will have to pay Rs 25,000 as a franchise fee. The minimum area required to open a Thyrocare Lab Franchise is around 250 square feet.

How is Thyrocare so cheap?
Thyrocare focuses on B2B customers, ie it collects samples from hospitals and other diagnostic centers. This saves them the cost of infrastructure. Thus, Thyrocare prices are affordable.

Do franchise owners get paid?
Most franchise owners do not receive a salary. Instead, your earnings as an owner come from additional revenue after paying for overhead costs to support business operations.

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