Are you dreaming of opening a business but are scared of starting from zero? In this case, a franchise or chain is the best option for you.
When you open a franchise business, the brand is already known, you can exploit the main company’s expertise and suggestions, and you can find your first clients very quickly.
The Walgreen Franchise is often considered a valid option. But is it actually possible to open a Walgreens Franchise and get into business with them? Keep on reading to find out.
About Walgreens Franchise Opportunity
The Walgreens Franchise, technically Walgreen Company, is a chain of pharmacy stores active in the United States.
Their headquarters are in Chicago, but it runs hundreds of stores throughout North America.
It is specialized in selling prescription drugs, health and beauty products, and health information.
Initially, Walgreens outlets were always connected to grocery stores. Now, there are independent Walgreens pharmacies with their entrance directly on the road.
This can be an important change for you if you are interested in joining the Walgreens Franchise because you don’t need to find an available grocery store to team up with to open your store. But is it possible?
Also Ckeck Out MedPlus Franchise
Walgreens Franchise History
The Walgreens Franchise was founded in 1901 in Chicago, the town that still hosts Walgreens’ headquarters.
As we’ve mentioned, Walgreens used to always be associated with a food store, and the first-ever Walgreens pharmacy was just like that: it had a front food store and the drug store.
About 15 years after the foundation, Charles R. Walgreen – who owned the first store – opened 6 more locations, and they were all connected to a grocery store.
The prohibition helped the Walgreens business, and during those years, they grew exponentially.
From that on, the business just kept growing, with new locations opening every year. During its history, however, Walgreens underwent two major changes:
- During the ’20s, they started opening stores away from residential areas;
- In 2009 they started opening independent pharmacies that were no longer connected to grocery stores.
Walgreens Franchise Business Model
Walgreens isn’t technically a franchise specialized in the sale of drugs and medications, but it’s still possible, in some cases, to get into business with them.
Walgreens sells franchises to other companies, not to individuals. If you have a business and want to grow with the help of the Walgreens Franchise, you can certainly do it.
But if you are a pharmacist trying to open your first drugstore, Walgreens isn’t the option for you.
|Business Model||Pharmacy franchise|
|Franchise||Only sells to companies|
|Number of outlets||8290 in the U.S.|
How Much Does It Cost To Open A Walgreens Pharmacy?
The costs of opening a Walgreens pharmacy are very variable.
Because they only sell to companies, they discuss each deal singularly, so the only way to know what type of deal you’re going to obtain is to contact them.
Before you do so, make sure you prepare documentation about the characteristics and conditions of your current business and your ideas about the Walgreens Franchise: where would you like to locate your pharmacy?
Would it be independent or connected to other stores? Will it be located in a residential area? Are there any other Walgreens pharmacies in the area?
The franchise fees are also discussed case by case, so again, your best move is to prepare the documentation and contact them.
The costs, however, can be lower if you already have a company with some space, or a building, to dedicate to the pharmacy: you won’t have to buy a location, and you won’t have to pay additional rent.
Only companies can get into business with the Walgreens Franchise.
Even if you are an individual owner of some shop, you can’t purchase a Walgreen franchise business. You need to be the owner of a company.
Training & Support
Walgreens deals with every partner singularly, and that allows you to have a customized contract, deal, and of course, support.
Your deal, inventory, and all the different aspects are customized around your needs, characteristics, and possibilities.
Obligations & Restrictions
When you get into business with Walgreens, maybe opening a Walgreens retail in your company’s superstore, you don’t become the owner of Walgreens’ retail.
What you get with Walgreens is a partnership that can be extremely beneficial for your business, but you don’t become, technically, the owner of a Walgreens store.
Term Of Agreement & Renewal
Because each partnership is discussed separately, the terms of the agreement and renewals are also very variable.
You’ll obtain conditions that are customized around your possibilities and what you can offer.
Other than being open to deals and discussions, the Walgreen Company doesn’t provide any other financial assistance.
Comparison Franchise: Walgreens VS Health Mart
|Number of Outlets||8290||3,000 +|
|Franchise||Only sells to companies||Yes|
As we’ve seen, it isn’t possible for anybody to start a Walgreens business. Furthermore, it is impossible – to anybody – to become the owner of a Walgreens store.
However, if you run a company and want to start a partnership with the Walgreens franchise, they are open to discussion and deal.
Walgreens Franchise: FAQ
Is Walgreens a Franchise or a Chain?
Technically, Walgreens is a chain. It is still possible to get into business with them by opening a drug store within your already launched company, but you won’t become the owner of the drug store.
Who is the owner of Walgreens?
The President of Walgreens is Rosalind Brewer. The Walgreen Company is the owner of all Walgreens drug stores.
How many Walgreens Franchises are there?
Today, Walgreens has 8290 stores in the U.S.
Is Walgreens Franchise a good investment?
If you have a company, it is. It’s a well-known brand active in a sector that is growing exponentially, especially after the pandemic. It promises great deals.
Is the Walgreens Franchise worth it?
Even if you don’t become the owner of the new drugstore, getting into business with Walgreens can still be beneficial for your company.
You can discover what you can earn by collaborating with them by contacting them and discussing a deal since they are open to it.
Reference: Walgreens – Wikipedia; Walgreen’s Franchise Opportunity Executive Franchises – Franchise Opportunities & Franchises for SaleExecutive Franchises – Franchise Opportunities & Franchises for Sale
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.