Also plans to open 10 clinics outside India
Dr BatraÃ¢â‚¬â„¢s, a leading homeopathy chain in India, plans to open 25 company-owned clinics within the country and 10 such clinics abroad. It also plans to add 28 franchisee-owned clinics this year in India. At the moment, there are 119 company-owned clinics (including three abroad) and 22 franchisee-run clinics across the country, said founder and chairman Mukesh Batra. Through the franchisee model, the company plans to penetrate Tier-III and Tier-IV towns. Ã¢â‚¬Å“It is important to have a local partner who can understand the local sentiment. Besides, the company cannot penetrate at that level,Ã¢â‚¬Â said Batra. He added that 11 franchisees had completed one year and theyÃ¢â‚¬â„¢ve recovered their investments in nine to 10 months. Over the next two-to-three years, the company plans to open 10 clinics in West Asia and one in London. Each of these clinics would cost Rs 1 crore, said Sandeep Saxena, chief executive, Dr BatraÃ¢â‚¬â„¢s Group.
Saxena added that the company would invest about Rs 10 crore this year in new clinics in India in building manufacturing facility as well as adding other infrastructure. "The investments will be funded through debt and internal accruals. We have not thought about roping in an investor so far," said Batra.
Commenting on the company's performance, he said last year was the year of consolidation and the firm is ready to grow from this year onwards.
Last year, the group had started new verticals including media (to publish a magazine), hospital for pets, academy, and added a second clinic in Dubai. Today, the company's products are available across 600 outlets and the target is to take it to 4,000 outlets by 2015, said Batra.
The group has set a target to grow 40-50% in 2014-15. It had reported a turnover of Rs 152 crore in 2013-14 and Rs 135 crore in the previous year.