JOHOR-BASED My Pharmacy Services Sdn Bhd aims to have 50 outlets nationwide within the next five years.
Managing director Fung Lee Jean said this target would be made possible under the company's franchising programme for which it had recently received approval from the Entrepreneur Development Ministry.
She said under its expansion plan, My Pharmacy would target the central and northern regions of the peninsula, as well as Sabah and Sarawak.
In Johor, the company could either own the outlet or establish a joint venture with another party, where it would hold 51% stake and its partner, the balance 49%.
She said under the joint venture scheme, an individual who wished to set up an outlet would have to work with the company for a certain period of time before becoming a partner.
“Prospects are good in the retail pharmacy sector as more consumers are becoming health conscious and going for self-medication,” Fung said in an interview with StarBiz.
My Pharmacy started in 1991 with the first outlet in Taman Sentosa, Johor Baru. It now has seven outlets within the Johor Baru district and one in Kuala Lumpur.
Executive director Chua Soon Gin said there would be two types of outlets - a lot with a floor area of 500 sq ft in a shopping complex and a 20 ft x 70 ft outlet along the high street.
Pharmaceutical products would comprise 50% of the stocks in these outlets, health-related items 30% and personal care and beauty products 20%.
Chua, who is also chairman of the Malaysian Pharmaceutical Society, Johor Area, said the number of retail pharmacy outlets in the country was still small.
“The only way to increase the number of outlets is to have more trained and qualified pharmacists,” he added.
Chua said trained and qualified pharmacists would usually set up their own retail pharmacies after serving with government or private hospitals.
He said the company would embark on a membership drive, aimed at doubling the number of members to 30,000 by year-end.
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