Are you planning to start a Pharma franchise or Pharma PCD business in India? As we all know it is not a new concept or a new business model. Pharma Franchise or PCD business is a profitable business model, which earn you high revenue and provides a stable and lasting business.
Here are a few things we can do before starting a PCD Pharma franchise business.
Small planning and few steps to success;
As the name itself suggest, its a franchise business. Pharma industry in India continues to grow at a steady pace and this has happened because the reach of access to modern health care services has increased. From metros to small towns to villages, medicines and healthcare services are available, almost everywhere.
Few factors to be considered before entering into PCD Pharma franchise business;
1. Expose to Pharma sales – Although it’s not mandatory however person entering into Pharma franchise pcd business should have some basic understanding of the nature of the business. If you are new to Pharma sales, we recommend you to do a survey with medical stores, stockist, medical representatives of your area and Pharma franchise companies or Pharma Pcd Companies.
2. Market survey– It’s better to plan then to be sorry later. Like any other business, different products have a different market share in a particular area. Hence it’s important to understand your target area, doctors so that you may choose the right products to promote and sell. Doctors must be prescribing products that you are planning to promote.
3. Company selection– This is one of the most important and decisive aspects of Pharma franchise or Pharma pcd business. Obviously, we would like to choose the best Pharma franchise company in India but this is a myth. There is nothing like best company. A company which has a product you are searching might be best for you. What is important is to look at the product range, stability of the company, client base, management of a pharma franchise company, location, rates and last but not least QUALITY of all pharma franchise companies selected, from which you will finalise one or even more to work with.
4. How to judge quality product– From pharma franchise company set up or packaging, you will not be able to judge the quality, safety and efficacy of a product. Ask for the certificate of authentication i.e COA of a product, also known as test report from the company along with a product at the time of purchase. We also suggest random testing of products from NABL authorised labs. This will grow your confidence and you will be assured that you are working with the right pharma franchise company and dealing in quality products.
5. The range of products– Choose your range wisely so that you may not end up take franchise of those products for whom demand is less.
6. Terms and Conditions– Read terms and conditions properly before finalizing the deal. Do consider monopoly rights, payment terms, promotional material, technical support and near expiry goods.
7. The authenticity of Company– Fakes are everywhere. Choose your company after a thorough survey. Check company website, ask for drug license copy, visit company if possible, check whether its a manufacturing or a trading company.
8. Agreement– Once everything goes fine, sign an agreement before starting a deal.
Hope these details will help you finalizing the business deal and choosing a best pharma franchise company in India.
If you are looking forward to start a Pharma franchise or Pharma PCD business, do share your requirements with us and we will share with you details of Pharma franchise companies offering franchise. We believe in nurturing opportunities and success for all.