Life is difficult nowadays. Same goes for pharmacist life with coming liberalization of PRPs as the number of fresh pharmacy graduates is increasing lots year after year and things get expensive from time to time! Well, just take a simple example. If you want to buy a house, you sure have to spend lots of money every month for the installment. It won’t be a small figure nowadays as the housing price can be as expensive as RM 500 k in city area. You will probably need 20-25 years to finish the payment if your current income is between RM 4000-RM 5000 per month. How about if you have to spend your monthly income for other stuffs such as car petrol, food and shopping expenses, insurance, traveling and many more. You might just end up saving RM 1000-RM 1500 k if you are a big spender or perhaps around RM 1500-RM 2000 if you are a great saver! With higher interest bank loan rate nowadays, your accumulated monthly saving is hardly able to cover your monthly bank installment! It will be just even harder if you plan to buy a car as well! But of course everything mentioned above is not applied to those from rich family. :)
I believe everyone here doesn’t want to be an employee. I believe everyone knows the true life of an employee and I believe nobody in this world wants to be employed forever! For what purpose having been employed if employees have to work harder and the gain almost all flowed to the employers themselves! Not only that, an employee doesn’t have the freedom that employer had. Employee has to follow employer’s order and meet their demand at most time. If you are not able to meet, you might just end up being scolded and the worst case being sacked. Yeah, perhaps not to include those want to spend a normal life forever in which they don’t really care at all. Decision is on our hand whether to live normal or to live better life? :)
As for me, I wouldn’t want to live a restricted life. Where I don’t have freedom to do whatever I want. I like travelling lots but I found out that I don’t get a chance to travel that often due to limited time and income. This is the main disadvantage of earning active income. And this is when I thought of earning passive income because I believe only a passive income can offer me a great life!
This was when I came across Cosway Pharmacy. To be honest, I can never accept this business concept initially and I believe everyone did as well. Because Cosway Pharmacy is something too new and the risk is there. But no business has no risk right. No risk no gain. Gradually, I came to accept the concept after listening to various sources from different business owners (BOs). But of course not all BOs are honest. They will just try every method to sign you up like offering free RM 100 for signing up as BOs. Some will just offer higher pay through their own network which is not legal and cosway has rights to terminate their membership if found guilty. I would like to advice those pharmacists out there not to be attracted to such a lucrative but dangerous offer. It will never harm in the beginning but it will do as time passes. So think wisely before you signing up as BOs.
I believe many pharmacists out there have still had bad perception on Cosway Pharmacy. Is good to have that negative perception in the beginning because it actually triggers us to think and find out more whether what people and Cosway HQ said is true o not. But being negative till not willing to listen is not good at all. Listening is caring but not harming. After all, nobody can force you to make a decision. So, why don’t open up your mind and listen thoroughly. I did listen again and again till I clear all my doubts. This was when I came to accept Cosway Pharmacy. I had met two BOs who were willing to travel 300-400 km to meet me and spent lots of time explaining till I understood. Not every BO will be willing to do the same. They don’t say something out of their understanding and don’t simply tell something untrue in order to get you sign under them. They will just say they don’t know and will find out the answer later. These are the honest BOs that I want and I have decided to sign under them. Both BOs have a five figures income already and even stepped a step of this business in overseas. Their “mother” (not to mention as upline because not that good to say in such way) had a six figures income monthly and financially free now. We had a chance to meet her and she shared lots with us. She said, “I want you all to be as successful as me”. :)
Well, some might think how a pharmacist has a chance to earn such a high income? It depends on our determination to do better and better. It might sound like direct sales but bear in mind we are not doing something what salesperson do. We don’t need to push cosway products after all. However, we can give advice on cosway products such as supplement for instance. Furthermore, we are not allowed to recruit VIP members during working hour as recruitment itself will be done by the store operator. After all, we still retain our professionalism as a pharmacist at the end. Even if you are not satisfied with Cosway Pharmacy in the future, you can resign and still be a pharmacist. :)
Lets me continue with advantages and disadvantages of Cosway Pharmacy:
1. Being a business pharmacy owner yourself - It wouldn’t be easy to own a pharmacy shop without a great sum of money unless you are from a wealthy family. Cosway lets your dream come true as they are the ones investing the money (rental and down payment, maintenance fee, electricity bills, internet and phone bills, drug purchasing, shop renovation, security and computerized system, etc) and risk (losses from poor business especially those newly opened independent pharmacy) for opening the pharmacy store.
2. Being able to choose preferred location - You can choose any place to open a pharmacy shop provided it’s 0.5 km from any Caring Pharmacy outlet and cosway store. It can be 5-10 minutes from your house if you want. A great advantage to those stay in frequent jam area. Not only save petrol but your time as well.
3. Being able to get two sources of income – Basically two types of income in Cosway Pharmacy which are active and passive income. Active income is your guaranteed monthly income plus 50% drug and OTC profits sharing. On the other hand, your passive income will come from your network profits that are grouped into four types (I will explain to you how). This network profits is passable to the next generation so it give you an assurance for your children. The network profits value is high as it will be calculated in USD.
4. Being able to get a guaranteed income – You are entitled to a guaranteed monthly income of RM 5000 (minimum) up to RM 8000 (maximum) which is based on your previous last drawn monthly income which includes other fix allowances (at the discretion of the company). There will be an additional 12% (basic > RM 5000) or 13% (basic < RM 5000) provided.
5. Working time flexibility - In fact, you can have more freedom for working hours since you are the business owner. Although the official working hours is 12 hours per day, you are allowed to adjust it according to yours and customer needs. Furthermore, when liberalization of Provisionally Registered Pharmacist (PRP) begins, Cosway HQ will allocate and pay 2 PRPs to work under the Fully Registered Pharmacist (FRP) for a period of 1 year and these PRPs will be automatically signed under the FRP as downlines. These PRPs will then be entitled to open their own Cosway Pharmacy store after completing and passing their PRP year. Thus, working time will be much flexible when there were three pharmacists in Cosway Pharmacy store.
6. No recruitment for any new Cosway members or BOs signups – Pharmacists are not allowed to recruit VIP members during working hours as this is important to keep our professionalism. There is an exception in the case of suggesting the cosway healthcare products. However, they are allowed to do actively after working hours. As for member recruitment during office hours, it will be done by the store operator and half of all new member signups will be counted under the pharmacist in the order of 1,3, 5, 7, 9, 11 and so on.
7. Convenience inventory system – Unlike independent pharmacy, you don’t have to spend your time to deal with drug sales representatives. You don’t have to worry about who offer better price and thus who to deal with. You don’t have to call the suppliers many times in case they cannot provide you the drugs that you have ordered due to insufficiency or other problems. In Cosway Pharmacy, you just need to spend some time ordering through the pharmacy stock ordering system. All ordering data will be saved in the computer system and thus you can monitor anytime you inventory, top-ups stocks, expiration date and so on
8. Dispensing separation – Having more pharmacists to start up retail pharmacies is a good thing in such a way it will help to prompt the government to implement Dispensing Separation which means all qualified pharmacists will have the legal rights to dispense.
9. Team work – In Cosway Pharmacy, you don’t run the pharmacy alone. Your group of pharmacists will be available at all times to help, discuss and sharing opinions whenever you need it. The reason is because you all will get the benefits through one family. For instance, if your pharmacy is running out of stock that you may need it urgent for your customer, you can just borrow from your group pharmacist while waiting for the delivery and vice versa. You can ask either one of your group pharmacists to sell the slow moving or nearly expiry medication in their pharmacy store it’s fast moving there.
1. No annual leave - Many will be curious why there are no annual leave entitled in Cosway Pharmacy and I believe this could be one of the main reasons why most pharmacists out there tend to neglect to join Cosway Pharmacy. The reason is simple. You are a business owner or business partner in operating Cosway Pharmacy and hence you don’t entitled to have annual leave. Only an employee has the rights to get annual leave in accordance to Employment Act 1955. But I have a solution for this. You can still apply to take few days leave provided you do inform earlier to Cosway HQ prior to leave taking. Cosway HQ will send back-up pharmacists to your pharmacy store or to employ a locum pharmacist.
2. No Employees Provident Fund (EPF) - Cosway HQ do not register with EPF because Cosway Pharmacist is their business partner instead of their employee. However, Cosway HQ will pay 12% direct contribution (if Basic < RM 5000) or 13% direct contribution (if Basic > RM 5000) into monthly wage.
3. Long working hours – Working 12 hours per day for 6 days per week is rather long. However, do think in a positive way that you do have to work for such a long hour if you are to open your own independent pharmacy. Because this is your own business! But if you think back what Cosway had invested for you to become a business owner and the benefits listed above, it do be worthwhile even if you have to work extra hours. After all, this working hour is adjustable. You will have to punch card/thumb print in government or private pharmacy but you don’t need to in Cosway Pharmacy.
4. Indemnity – Cosway do not compensate for thieves, loss, injury or fire of the Cosway Pharmacy store. Because we need to be able to take responsibility ourselves since we are the business owner. We can choose to buy the insurance or not. It depends on us. But I believe you would not want to save a small amount of money to compensate for possible loss of huge amount of money. However, there will be CCTV fixed and the maintenance cost will be borne by Cosway.
5. PRPs - PRPs will only be allocated to train under a Cosway Pharmacist who possesses four years of experience in related field. However, Cosway HQ was in process of negotiating with the Lembaga Farmasi Malaysia and awaiting finalised result and guidelines. Chances to get approved are high as the number of fresh pharmacy graduates is increasing largely from year to year.
6. Cosway Pharmacy is new and not yet well established – I believe many pharmacists do not ever think to join Cosway Pharmacy because of this reason. Mostly will not think of joining of Cosway Pharmacy but rather join the established private retail pharmacies such as Caring, Watsons and Guardian. They prefer to see the progression of Cosway Pharmacy first perhaps in the first few years before deciding to join. I would say such perception is wrong especially for those who never think to work with government forever. Because it is just beneficial to gain retail pharmacy experience first than continuing learning the same thing in the government. After all, you can still quit after a year in Cosway Pharmacy and working at other private pharmacies. By that time, I believe the employer would rather employ a pharmacist with both government and retail experience. Other than that, being the earlier batch of Cosway Pharmacist is better than later because it is much easier to build up your own network since the demand is higher, and the network will keep on expanding from time to time.
Well, what I have written on the above is honestly and truthfully from me through my experience and what I had learnt through all the while till I made a decision to join Cosway Pharmacy. I hope those have read this will at least give yourself a chance to understand more and then deciding for your own future. It’s totally up to you how you wanna decide your own future. Remember, you have got nothing to lose!
If you are interested to know more about the Cosway Pharmacy partnership as well as how you can be one of the cosway pharmacists, please feel free to email me at firstname.lastname@example.org . I will send you all the Cosway Pharmacy related slides as well as the application form. In addition, I will answer all your questions if you have any. Sharing is caring! :)
I will be looking forward to your email. ^^
I will be looking forward to your email. ^^
‘’ There is only one success--to be able to spend your life in your own way”
The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack in will.
The secret of success in life is for a man to be ready for his opportunity when it comes.
Earl of Beaconsfield
Earl of Beaconsfield
Success is the good fortune that comes from aspiration, desperation, perspiration and inspiration.
Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude.
Keep steadily before you the fact that all true success depends at last upon yourself.
Theodore T. Hunger
Theodore T. Hunger
They can because they think they can.
If at first you don't succeed, try, try again. Then quit. There's no use being a damn fool about it.