How To Start A PCD Pharma Franchise Business

 

In the world of Pharma, there is a popular jargon ‘PCD’ that refers to Propaganda cum Distribution. It revolves around rights of marketing and distribution. PCD Pharma works as a franchise business.

 

What Do We Mean By PCD Pharma Franchise?

 

A company creates a business franchise when it authorizes another company or individual to sell their products/services on their behalf. In the case of the pharmaceutical industry, there are pharma companies that permit individuals or groups of distributors to control their products, services, and trademarks. This is a PCD Pharma franchise business model.

 

In India, the pharmaceutical industry is one of the major contributors to the GDP of the country and has been growing every year owing to the awareness of health and hygiene amongst the population. The possible reason behind the rapid growth is there is no end to business in the pharma industry. All the companies focus on the future and the business is globally spread across.

 

Low capital investment and administrative expenses make this business reap huge profit. It is quite a win-win situation for both, the pharma company as well as the franchise holder. This has led to the popularity of franchise businesses among pharma companies.

 

Let us look at a couple of things you need to know that can help set up your PCD Pharma franchise business.

 

·         To establish a PCD Pharma business, you need to build networking skills. Relying on public relations with medical professionals and doctors can also help.

·         The next step involves setting business goals as sales targets and achieving those. This comes with an experience of sales and marketing with any reputed pharma company. Having knowledge of products is going to work in your favor.

·         It is well-established that pharma companies are responsible for the health of consumers. This is why licenses, regulations, and record keeping are mandatory.

·         The capital investment required for PCD business model is low. Even then, industry experts say INR 100,000 is essential to start with.

·         When you look at companies to work with, it is very important to get to the depth of the matter. This will help extract possible information about their services. You will also get to know of benefits, besides assurance and measures of quality control.

·         The right to monopoly is a deciding factor of whether you have control over sales in your business zone. All advertised products must be available round-the-clock for a business to flourish. A company should be able to provide them without creating a fuss.

Top Five Tips To Find The Best Pharma Franchise Company

 

You have the experience, necessary documents, and money but you cannot proceed without a good pharma company. Here are some tips to choose a PCD company for your PCD franchise business:

1.      Do a thorough research both online and offline. Your search will be on the different PCD companies

2.      Find out as much information possible about their offerings. Make a study on the advantages they offer like gifts, marketing inputs, etc.

3.      Are they offering monopoly rights? Monopoly helps you rule the zone you are allotted with sales under your control.

4.      See the quality assurance and quality control measurements followed by the company.

5.      Are all your products going to be readily available? It would be embarrassing if you run out of medicines and your company cannot provide despite mentioning those on their list of offerings.

Advantages Of Investing In Pharma Franchise Business

The pharmaceutical sector is growing. Investing in this sector is a wiser decision. Follow the guidelines of risks factors carefully to achieve success in the business venture. Once you eliminate the risks factors, you can enjoy major benefits like the following:

·         A huge network of worldwide business associates

·         Shared business rights

·         Low investment with great returns

·         Incentives and gift vouchers

·         Timely delivery of all stock

·         100% customer satisfaction

 

We hope this will be of help in your quest to venture into the PCD Pharma franchise business and make it a huge success. For specific queries, please feel free to write back to us.