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Top Reasons Why Pharmacist reject Cosway Pharmacy Plan

1.No EPF

Cosway Pharmacist is Cosway company business partner instead of their employee, thus EPF is not provided. However, Cosway  will pay 12% direct contribution (if Basic < RM 5000) or 13% direct contribution (if Basic > RM 5000) into monthly wage.

2. No Annual Leave

This is one of the top reason why lot of pharmacists not joining.  Actually, Cosway Company is partnering with us and we are not employees, thus no annual leave is given. Only an employee has the rights to get annual leave in accordance to Employment Act 1955. However, we can inform Cosway Company earlier to apply for few days leave and company may send back-up pharmacists to your pharmacy store or to employ a locum pharmacist.

3. Long Working Hour

For pharmacist under employment, working hour is generally 9 hours per day, however in Cosway Pharmacy where pharmacist is business owner, working time is more than 10 hours. Working for more than 10 hours is rather long , but the time is flexible where we can arrange our time according to peak hours. Working long hour for own business with commission up to 50% is worthwhile, income from the power of network is also tremendous. (Click Here)  Besides, if we are opening a new own independent pharmacy, we also tend to work extra hour to earn more.   One more point is that, starting from this year, Cosway Pharmacy will assign 1 - 2 PRP (Provisional Register Pharmacist) into outlet, the salary will be paid by company, thus pharmacist in charge will have free trainees as assistant.

4. Cosway Pharmacy is still new and may keep changing Terms & Condition

Currently Cosway Pharmacy Outlets just over 100, this number already surpasses Caring Pharmacy total outlets which is still less than 100 ( just for comparison). Anywhere, room to grow is still there as Cosway Company is targeting to open 1000 outlets by 2016.  Being a pioneer will be an advantage for us as market is rather new and demand is higher, thus it is easier to build our network. Besides, with guarantee income from RM5k- RM8K, nothing to lose as we still can learn ways of operating community pharmacy. It is same as we work in Independent Pharmacy and get same salary, however, as business owner, we able to earn more income through networking and commission up to 50%.  For sharing, let said we work in private Independent Pharmacy for 3 years, can we expect our salary to increase by 100%, i think it is very hard to achieve.  Even your salary increase to double, we still need to work again and again ( work for money). If we become Cosway Pharmacy owner, in 3 years time, our network may increase and we got potential to earn 5 figures income. Interesting part is we can earn passive income where money will still flow even if we stop working, this is the power of networking business.

5. Waiting for better opportunity

If we look into current statistic, Malaysia is producing more than 1000 new pharmacists each year, and this number is keep increasing,  in which causing pharmacist 's hospital compulsory service reduce from 4 years to 2 years. Besides, under liberalisation of pharmacist training programme (click here), the new pharmacist can choose to undergo their training in community pharmacy instead of hospital. From this scenario, we can foresee that the market is getting saturated, salary for current community pharmacist has also started to shrink. The number of Community Pharmacy outlets have also increase nationwide and competition is become stronger. However, with the unique concept of win & win strategy offered by Cosway Pharmacy, we can work together in group  and become our own boss with  minimal risk.  We will not only able to try out and learn about business, we also able to earn guarantee income from Rm5k-Rm8k.  



 


Appointment can be made nationwide for  meet up session, kindly click here

Profit Sharing Plan for Cosway Business Owner

Whenever you or anyone in your network makes an eCosway sale or purchase from any of our stores, it generates “eVolume” (eV). eV is the sales volume value assigned to each product. 

Every month, eCosway calculates the eV generated by your network and pays you four types of profits:

    

1.     Retail Profi

2.     Branch Override

3.     Branch Performance Incentive

4.     Extra Incentive (EI)

Note: For the calculation of monthly profits, 1 eV = 1 eDollar =RM3.50(SGD/BND1.50). Your profits will be paid to you on a monthly basis.



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Below are example for Monthly Income calculation

 

In RM, 11519 Dollar = 3.5 X 11519 

                               = RM 40316 per month

  

Note: Example above assume that you have at least 15 eV.

Is it Achievable, RM 40K Passive Income/ Month ???

EV depends on product, for example, Cosway Duo Water Filtration System is price at RM450 with 50 EV, thay equal to RM9 for 1 EV. For above example, total EV is 68500 and total sale is around RM620K ( 68500 X 9 ). 

This amount is achievable as we are not working alone, the amount is derived from a group of consumer through power of networking.  Some may say it is hard to achieve Rm600K sale,  even if our group able to achieve RM300K sale, we still can earn half or RM20K per month.  

Wont U think this is attractive Plan, kindly email us your details to email below, our team of pharmacist/ leader will contact you for appointment pharmacistsharing@yahoo.com

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Tables below can be used for above income calculation

1. Retail Profit:  When you sell the products to your customers at the suggested retail price, you will earn the difference between the retail price and your discounted price. On top of that, up to 23% retail profit will be paid on the monthly eVolume (eV) generated by your Personal Sales (comprised of your own purchases plus the purchases of your VIP Shoppers).  ...............................................................  2. Branch Overrides:  You will earn an overriding percentage on the eV generated by each of your BO branches, based on the difference between your eligibility percentage and theirs.The Retail Profit & Branch Overrides chart (beside) is used to determine this eligibility.

Retail Profit & Branch Overrides eVolume (eV) Profit (%) 50 2% 150 3% 300 4% 500 5% 1,000 6% 2,000 7% 3,000 8% 4,000 9% 6,000 10% 8,000 11% 10,000 12% 12,500 13% 15,000 14% 17,500 15% 20,000 16% 22,500 17% 25,000 18% 30,000 19% 35,000 20% 40,000 21% 45,000 22% 50,000 23%

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3. Branch Performance Incentive (BPI): 

You will receive a fixed amount based on the volume of each of your BO branches (including your Personal Sales) that exceeds 500 eV each month (except your highest eV Branch which serves as the qualifying branch for this incentive). Please refer to the chart for the amount you receive per branch. 

Each Branch eV BPI (eDollars) 500 $20 1,000 $40 1,500 $60 2,000 $80 2,500 $100 3,000 $125 3,500 $150 4,000 $200 4,500 $250 5,000 $300 5,500 $375 6,500 $450 8,000 $525 10,000 $600 12,500 $675 15,000 $750 17,500 $825 20,000 $900 22,500 $1,000 25,000 $1,100

Each Branch eV BPI (eDollars) 27,500 $1,200 30,000 $1,300 35,000 $1,400 40,000 $1,600 45,000 $1,800 50,000 $2,000 60,000 $2,500 70,000 $3,000 80,000 $3,500 90,000 $4,000 100,000 $5,000 125,000 $6,000 150,000 $7,000 200,000 $8,000 250,000 $9,000 300,000 $10,000 NO CAP! For each additional 100,000eV after 300,000 eV, you receive an additional $1,000 eDollars.

NO CAP!  For each additional 100,000eV after 300,000 eV, you receive an additional $1,000 eDollars.

...................................................................................................................................................................

4. Extra Incentive (EI):You will receive an Extra Incentive based on the volume of each of your BO branches (including your Personal Sales) that exceeds 500 eV each month (except your highest eV Branch which serves as the qualifying branch for this incentive). Please refer to the chart for the amount you receive per branch.

Minimum eV Level Extra Incentive (eDollars) 500 $25 1,000 $100 1,500 $200 2,000 $300 3,000 $350 4,000 $400 5,000 $450 6,000 $500 7,000 $550 8,000 $600 9,000 $650 10,000 $700 12,000 $750 14,000 $800 16,000 $850 18,000 $900 20,000 $1,000 25,000 $1,100 30,000 $1,200 35,000 $1,400 40,000 $1,600 45,000 $1,800 50,000 $2,000

Note: If you have branches with less than 500 eV, you can still earn an Extra Incentive by combining the volume to meet a qualifying eV level (as shown on the left side of the table). However, the eV of combined branches cannot exceed (and will be capped at) the eV level of your qualifying branch.

Appointment can be made nationwide to further understand the profit plan, kindly click here. 

Bucket Carrier Vs Pipeline Builder

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Cosway to have 1,000 pharmacies by 2016

From left: Berjaya Corp Bhd chairman Tan Sri Vincent Tan, Ismail Sabri and Chuah at the opening of Cosway's new pharmacy in Berjaya Times Square.

KUALA LUMPUR (Jan 19, 2012): Cosway (M) Sdn Bhd plans to have 1,000 "free-concept" pharmacy stores across the country in the next five years.

Other than selling Cosway products, a free-concept outlet also offers pharmaceutical products and services.

Cosway Corp Ltd chairman and CEO Al Chuah said it will convert 500 of its existing 800 Cosway stores to these free-concept stores as well as open 500 new such stores, which will cost RM500,000 each including inventory and renovations.

This year alone, it will spend RM10 million to put up 200 new pharmacies through both the conversion of existing stores and setting up new ones.

"Under the free-store concept, we pay the rental, utilities and also supply products on consignment. Pharmacists or members who operate these stores not only enjoy profits from store sales but also profit from their network sales," Chuah told reporters at the opening of its first free-concept pharmacy in Malaysia here today.

Cosway also plans to expand globally in the first quarter, to new markets such as China, Russia, Mexico and Colombia.

The company opened its first free-concept pharmacy in Japan last month and in China on Wednesday.

Chuah said Cosway aims to open pharmacies in all 30 provinces in China, as well as over 50 outlets each in Russia, Mexico and Colombia during the first year.

Cosway now has about 2,000 free-concept stores in 15 countries, including Australia, New Zealand, South Korea, Japan, the US and the UK.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob, who officiated the opening, said the direct-selling industry is expected to contribute RM10 billion to the country's gross national income this year, compared with RM8.9 billion last year.

His ministry had also renewed Cosway's direct selling licence for 10 years, from 2011.

He added that currently there are 556 licensed direct-selling companies in Malaysia, with some new applications in the pipeline.

"We will also introduce the code of ethics for direct selling this year. It is now in the final draft," Ismail Sabri said.

Source: http://www.thesundaily.my/news/271988

Expert Quotes On Network Marketing

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Running Cosway Pharmacy VS Opening Own Pharmacy

Opening own Pharmacy	Running a Free Cosway Pharmacy
High initial investment	No investment required
High cost like marketing/ advertisement	Marketing / advertisement done by company
Building lease or purchase cost	Cosway pays the lease
Branding may not strong	Good branding ( Established since 1979)
May work individually	Work in team ( Back up by Berjaya Corporation under Tan Sri Vincent tan)
Potential customer will be lesser	More potential customer through cosway network nationwide
Riskier	Very low risk
Price of product is less competitive	Price of product is more competitive
May work individually	Work in team ( Back up by Berjaya Corporation under Tan Sri Vincent tan)
No guarantee income	Guarantee income (Rm5k-Rm8K)
Single source of income	Multiple streams of income
Depend on active income	Achieve financial freedom through passive income

Table above is designed by our team of pharmacist, any comment is highly welcomed.