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Women’s entrepreneurship isn’t an alien concept in India

Women’s entrepreneurship isn’t an alien concept in India. But much of this enterprise has tended to be small-scale, and in areas in which women are expected to have ‘natural’ expertise. For instance, food-related businesses like baking and catering, clothing-related like tailoring or boutiques, handicrafts, lifestyle sector businesses, and so on. After years, there has come a time when women are doing everything they want and are going all-out to pursue their aspirations.

Arushi Jain, 25, Founder, of StayHappi Pharmacy, a Delhi based generic medicine start-up focused on the prime Value of Business “Smile and a sigh of relief”. She incepted the start-up after seeing the Pain of the Poor patients and their unaffordability especially in smaller cities of India to buy Drugs been written by Doctors”, and truly the Pain of seeing, that by every passing day the cost of medicines is rocketing high. She also believed that maybe return on investment could be at a slower pace, but she is not really concerned about the returns, but more concerned about laying the seed of StayHappi Retail store in every part of the Country so that we are able to benefit the patients in every nook and corner.

Arushi is one of the Women entrepreneur at a Young age who is bringing a change in Healthcare policy of Tier 2 and Tier 3 Cities

Please explain your venture to us in brief. When did you join the business? What have you brought to the table?

StayHappi Pharmacy is an entrepreneurial venture that looks way beyond generating revenues, and aims at benefitting the society in the earnest. It is a noble initiative, effectively marrying business acumen with human compassion.

It is directed at one of the most pressing concerns of the society today, i.e. availability of affordable, quality medication to all those are in need; a true societal cause to it very core. Driven by the cause of taking high and approved quality, affordable medicines to every corner and every needy household of the country.

I am the founder of the brand and associated since the identification of the industry gap, inception of the idea to now building the team and sowing seeds for achieving this mission across the country.

What makes this particular concept different? Are there competitors? If yes, how do you stand out?

A Mint analysis of data from the last National Sample Survey Office health survey conducted in 2013-14 shows that 36 million households incurred health expenses that exceeded the annual per capita consumption of those households. Rural India accounted for 25 million of the 36 million households, which faced catastrophic health shocks, while urban India accounted for the remaining 11 million. I think these data points are enough to get this Unique and Different Concept to roll in the Country with the objective to offer High Quality Generic Medicines at Real Value than continuing with Branded drugs that’s prevalent in the Indian market since ages.

The broad meaning of Competitor if I have to define would be, “any person or entity which is a rival against another” – going by such, the Competitors are the

Current prevalent practice of writing Brand by Clinicians in the prescriptions

The Habits and Practices of the Buying pattern of Drugs by patients , and most important

The Mindset of the end consumer towards Brand consumption that’s been created over ages

Changing Habits, Consumption Patterns and Mindsets are a huge task by itself, especially when it have to do with serious subject like Health, however our Grit and Belief in this

“Transitional Healthcare Retail Pharmacy “ concept and laying the Bricks one above the other from May 2018 , when we have started our first store, have been really standing out and reflecting its strength across the Country.

Who are the consumers that you are targeting with the innovation? How is this going to affect them?

Poor patients who cannot afford to buy Drugs been written by Doctors”, Clinicians mostly write Branded drugs, the bottom strata skipping medicines doses for the Heavy MRP of Branded drugs, and similar have been the catalyst and capital for the innovation.

In reality, that we have to invest heavily in our back end processes, getting the right drugs from the Best Manufacturers and so on, Marketing etc., the returns of our line of Business would definitely be at slower pace, which we are well aware, thereby at this point of time we are not really concerned about the returns, but more concerned about laying the seed of Stayhappi Retail store in every part of the Country so that we are able to benefit the patients in every nook and corner.

Where did the initial capital for the innovation come? What returns does it have?

It was Self funded, however for sure the initial capital for innovation came from visualizing the “Pain of the Poor patients and their unaffordability to buy Drugs been written by Doctors”, and truly the Pain of seeing, that by every passing days the cost of medicines are rocketing high, Clinicians writing mostly Branded drugs, the bottom strata skipping medicines doses for the Heavy MRP of Branded drugs, and similar have been the catalyst and capital for the innovation.

In reality, that we have to invest heavily in our back end processes, getting the right drugs from the Best Manufacturers and so on, Marketing etc., the returns of our line of Business would definitely be at slower pace, which we are well aware, thereby at this point of time we are not really concerned about the returns, but more concerned about laying the seed of Stayhappi Retail store in every part of the Country so that we are able to benefit the patients in every nook and corner.

What is the strength of the organization and the scale of operations?

Definitely as most organization, our strength as well, is our “People”, its People, Ethics, Integrity, Values and Virtues that makes an organization, and we are committed to lay a strong focus and foundation for the same towards strengthening. We have a strong Management and Leadership Team who are like sharp shooter and similar rungs below the line, making it a robust team, which is continuously scaling up.

Another strength which we have is definitely our “Product” and we believe that if the patient has once purchased our medicine and is convinced of the results, it will build trust gradually and later lead to word of mouth awareness.

We have rolled out our first store in May 2018, and currently have close to 145 Operational stores and another 148 stores been signed and in pipeline to be operationalized soon.

Future plans

StayHappi plans to set its foot across the country – both Urban and Rural, with plans to touch 1000 pharmacies in 2019 – 2020.

Also, we plan to increase our medicine molecule base across various therapeutic segments to cater to more and more increasing demand.

What challenges did you face when you were starting out?

Though this concept is disruptive for the industry and for the common man, the main challenge which was also anticipated has been the slow adaptability of consumers to this upcoming concept.

Healthcare being a sensitive aspect takes time to transition, however, we are confident that this revolution is coming.

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