Nowadays we could get extravagant things at a moderate price, but why not life-saving medicines? There are brands selling reasonable medicines in the market however most of them center around benefits. So in this period, we needed to focus on a pioneering company that looks far beyond producing incomes and targets giving an advantage to the common people. The world saw many pandemics and keeping in mind that medicine is viewed as perhaps the main necessities for us all.
It is worried about keeping up and reestablishing human wellbeing, and the part of a drug specialist is indispensable to serve the patients. With the quick development of the medicine business, the market players need to give these lifesaving drugs at a reasonable average worth that is of the best quality also.
StayHappi is a mobile-based platform that deals with all problems into an only server. Stayhappi’s headquarter is situated in Bengaluru, Karnataka, India. StayHappi produces around $180.2K in income per representative. Their items are sold mostly at real prices and offer high value to patients since costs are considerably lower when contrasted with the marked medications.
StayHappi Company Profile
|Legal Name||StayHappi Pvt Ltd|
|Parent Company||StayHappi Pvt Ltd|
|Headquarter||New Delhi, Delhi, India|
|Headquater Region||Asia-Pacific (APAC)|
|Founded Date||January 1, 2017|
|Brank Ambassador||Sourav Ganguly, Vidya Balan|
|Monthly Visitors||40,860 (SemRush)|
StayHappi was founded by Arushi Jain in January 2018. Now she runs the company as an Executive Director.
Arushi Jain was 23 years of age when she recognized the hole in the medicine industry. Arushi was working at Ernst & Young as an internal auditor and keeping in mind that inspecting the reports of different drug organizations she asked why meds are not sold at more practical costs on the lookout. She has a family foundation in the medicine business, with experience in making, retail, and suppling. Thus, she comprehends the business hole and the requirement for moderate medicines in the nation. So she established StayHappi in the month of January 2018 in New Delhi with an expectation to guarantee that everybody in India gets quality medicines at a reasonable cost.
Dr. Sujit Paul is Managing Director of StayHappi. He is a demonstrated pioneer and part of top management with board-level insight. Dr. Sujit Paul, 44 years old, has broad openness to worldwide just as huge and medium-sized associations in different corporate cultures and persists 21 years of involvement. Dr. Sujit likewise got an honor as a World’s Greatest Leader 2018-2019 Asia and GCC Business excellence award in Dubai.
StayHappi Products & Services
StayHappi is not only an online medicine store however the name of unrest, making quality prescriptions open to each and every citizen of India at a reasonable price. To offer the most extreme benefit at the least costs to its users, StayHappi Pharmacy has joined hands with India’s driving drug fabricating firms that bargain in a wide scope of medications and clinical items (allopathic, Ayurvedic, cosmetics, dermatology, wellness products, and more).
They offer a total scope of great allopathic meds across all significant helpful sections at reasonable costs. The interest for Nutraceuticals is on a surge and StayHappi gives these items also.
Along with that, clinical consumables and beauty care products are also accessible at StayHappi stores. It is an all-inclusive resource for clients’ medical care and health needs. The wide scope of items obliges a wide range of users’ necessities. It offers an assortment of value ensured and low-evaluated conventional options in contrast to all your fundamental medical services and preparing items.
HEALTH BHI HAPPY, POCKET BHI HAPPY!
The slogan was announced by the company in 2018.
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StayHappi Business Model
India is the biggest supplier of generic medications worldwide. Indian medicine industry supplies more than half of worldwide interest for different antibodies, 40% of conventional interest in the United States, and 25% of all medication in the UK. India appreciates a significant situation in the worldwide pharmaceutical industry.
Understanding the necessity of the medicines, StayHappi Pharmacy is expanding its viewpoint to connect with the customers by means of the multitude of platforms. Accordingly, it is a mix of online businesses and offline businesses, covering the wide market. Being accessible at all stages assists the brand with understanding the example and how to shape its procedures to oblige the patients or clients. StayHappi’s business model follows a moral exchanging medium with a significant beginning on retail outlets.
It additionally follows an establishment and store-in-store plan where a stand is set up in a current outlet acquainting users with the pharmaceuticals product. By requesting prescriptions in mass, the general expense of the item is low. With StayHappi Pharmacy, patients/customers can buy top-notch generic medicines at costs that are 25% to 80% not exactly the normally retailed cost of similar medication in India.
If we discuss the margins, the net revenue changes from 20% (brand) to 3000% (generic) or more on Maximum Retail Price (MRP). It relies upon which drugs the company sells the most and how much.
StayHappi Revenue Model
StayHappi’s revenue model revolves around an online platform for customers. The company income is certainly there, as far as getting increasingly more retail locations and along these lines when the drugs are given over to the end purchasers unquestionably income pivots on its own viewpoint. The comparative revenue system additionally pivots when from the online platforms a medication is delivered to the family.
According to the official reports, Stayhappi generates around $4.5 Million in revenue.
If we talk about the whole pharmaceutical market, it is assessed at Rs. 1,15,000 crore, of which the coordinated drug retail market size in India is assessed to be Rs. 2,600 crore.
StayHappi Pharmacy is doing bunches of advertising efforts all over online (Social media, Television, Radio, Billboards, etc.), and offline (Direct mail campaigns, Trade shows, Catalogs, banners, etc.) to make buyers more mindful of purchasing great medicines at average costs.
Consumers began accepting that indeed, StayHappi really offers great excellent meds. Thus, it is the brand’s consistent undertaking to plant in the standards to the end shoppers by saying that you have a choice to really and successfully set aside cash in your bills which you can do by purchasing decent quality marked generic medicines. This approach is as yet working.
StayHappi opened its first store in May 2018 and in only 1 year, the company has had the option to open its stores in 279 areas across 67 urban areas in 12 states including Indian Metro cities (Delhi/NCR, Bangalore, Kolkata, Mumbai), Kerala, Tamil Nadu, Noida, Tiruchirappalli, Bhakal, Punjab, Uttar Pradesh, Bihar, Karnataka, Puducherry, Erode and Chennai and more.
“The company’s ultimate objective is that to reach 100 crore people. To do that we need to make our web of 15,000 stores. They ought to be in more modest urban areas, towns, and towns. At that point, through online doctor meetings, even little towns get clinical assistance and direction. I firmly and enthusiastically feel that it’s the privilege of each Indian to get affordable medicine. We would likewise need to venture into health care, which implies food nutrition, herbal supplements, and online doctor consultations,” said Arushi in an interview.
StayHappi is using both advanced innovation and digital marketing in a Pharmacy business venture. Their ERP-cum-retail billing software is profoundly advanced and helps clients information storing, the board, and mining in the most coordinated way.
It assists them with giving altered offers, limits, and bundles dependent on the demography, area, client preferences, and different standards. It additionally assists with supporting their colleagues in their everyday activities, like warehousing, stock, deals reports, buy reports, accounts for the executives, and so on.
Sourav Ganguly, the previous Indian cricketer, and captain of the Indian national team are also associated with the company as a brand ambassador of StayHappi Pharmacy. Sourav Ganguly will highlight cross-country advertising campaigns for StayHappi Pharmacy.
“Sourav Ganguly (also known as Dada) has risen like the Phoenix from the cinders. He represents every one of the qualities with which we expect to fabricate StayHappi. This whole mission of StayHappi is cored around the topic of Nation First” Said Arushi Jain, Project Head and founder of StayHappi.
- TV100 – Industrial Excellence Awards 2018
- StayHappi also won the “Debutant Franchise Award for the year 2018” in North India Franchise Awards 2018.
- StayHappi founder Arushi Jain also won the Young Entrepreneur Award at the National CSR Summit and Awards for her startup StayHappi.
Apollo Clinic, Lifecare Clinics, Netmeds, Pharmeasy, and more.
There are a large number of startup thoughts for pharma companies or medicine stores for students. You simply need to set one objective at that point go through that way or you can imaginative drug store administrations. The pharma store is a beneficial and fascinating business. The vast majority of the pharmaceutical industry is led and claimed by non-pharma individuals in India. That is the reason the climate of the drug store is changed to an ordinary store.
Assuming you need to begin a facility, you can start with the most minimal investment by partnering with companies like StayHappi and more.
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