Generika Drugstore named most promising Filipino franchise
Generika Drugstore was named the Most Promising Filipino Franchise by the Philippine Franchise Association (PFA) during the 11th Franchise Excellence Awards Night held last 22 September 2011 at the SMX Convention Center, Pasay City.
Since it started franchising operations three years ago, Generika has successfully expanded nationwide with over 200 outlets offering quality generic medicines. It plans to add at least 180 stores annually. According to Mr. Teodoro Ferrer, president of Erikagen Inc., the company behind the Generika Drugstore trademark: “Being recognized as the Most Promising Filipino Franchise is an affirmation of our mission to bring affordable yet quality medicines to Filipino consumers. I believe that our strong sense of social purpose gives Generika that extra edge over competition, resulting in a successful business model.”
Earlier this year, Generika announced plans to expand its franchising operations nationwide, particularly to key cities in Visayas and Mindanao, as well as untapped areas of Luzon to augment its strong presence in Metro Manila and nearby provinces. By joining the Generika family, budding entrepreneurs can have their own business—minus the trial and error of most start-ups—for an overall initial investment of around P1.2-million, inclusive of the P150,000 franchise fee. This makes it an ideal venture for overseas Filipinos, retirees, and young professionals looking for a secure income stream.
Generika Drugstore outlets stand out in the generics industry as all stores are air-conditioned to preserve the therapeutic value of medicines while offering customer comfort and convenience. Store personnel are carefully selected during recruitment and well-trained to offer value-added services such as patient counseling, free blood pressure monitoring and affordable blood sugar testing.
Community services are part and parcel of a Generika Drugstore’s operation. An excellent example was the well-atttended medical mission conducted on 24 September 2011, to celebrate its 8th anniversary. A total of 2,841 adults and chilcren were given free medical consultations and medicines at the Benigno S. Aquino Jr. Elementary School at Commonwealth Avenue, Quezon City.
The Franchise Excellence Awards (FEA) is a joint partnership of the Philippine Franchise Association (PFA), the Department of Trade & Industry (DTI), the Philippine Chamber of Commerce & Industry (PCCI), and the Philippine Retailers Association (PRA). Franchise Excellence awardees are judged on a set of carefully-crafted criteria, including: the franchise concept’s franchise program, sales and marketing program, franchise operating system, corporate social responsibility, ethical pracices and reputation, growth and financial performance, and profitability.
Mr. Teodoro Ferrer (center), president of Erikagen Inc., receives the Most Promising Filipino Franchise Award given to Generika Drugstore at the 11th Franchise Excellence Awards Night held last 22
The Most Promising Filipino Franchise awarded to Generika Drugstore is the latest recognition for this very dynamic company. In 2010, its president Teodoro Ferrer, was acclaimed as a Finalist for the Ernst & Young Entrepreneur of the Year Award administered by SGV Foundation. In 2009, Generika was named by Entrepreneur Magazine for the Best in Franchise Support and Most Promising Franchise awards. In 2008, Generika Drugstore was proclaimed the national winner in the drugstore chain category by the Drugstore Association of the Philippines (DSAP).