Mediday > Articles by: Mohit
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How PCD Pharma Franchises Changing the Pharmaceutical Industry in India by 2020

Indian pharmaceuticals industry is rising across the world, with the huge investments in it. India has an important position in global pharmaceuticals sector. The Indian government is providing full support to the pharmaceuticals sector by implementing various reforms and policies, in order to make the Indian pharma sector stand top in the global market.

Before knowing how PCD pharma franchise is changing Indian pharmaceuticals industry let us understand the concept of PCD Pharma.

Understanding the concept of PCD Pharma Franchise

Propaganda Cum Distribution in short called as PCD pharma is a type of franchisee agreement. It is a new concept in pharma franchisee. The franchisee holder is given the right to work on the behalf of the Pharma company such as Productions, marketing and promotions of the drugs. There is no pressure of high investment and targets in this business.

How is this Changing the Indian Pharmaceuticals sector?

There are a lot of new opportunities coming up in the pharmaceuticals industry with the emerging of newly developed and well settled Pharma franchisee company. The market competition is increasing rapidly. The newly developed franchisee company provides a lot of opportunities for the distribution, medical representatives etc. this is providing growth in the pharmaceuticals industry across the nation leading to the improvement in the economy of the country.

PCD Pharma franchisee is providing the following benefits:

  • Availability of medicines all time
  • Providing Employment opportunities to many people
  • On time delivery of medicines
  • Growth in the industry
  • Supply for products in every part of the nation
  • Availability of wide range of medicines.

Things to consider before choosing a Good Pharma company:

It is really important to know about the company before taking the franchise. Taking the right company franchise is essential. You have to be really alert choosing a company, the list of things that need to be considered before taking the franchise are:

  • Quality of the range of product offered.
  • The company is legally established with national and international standards such as,ISO, CGMP, GLP, DCGI, FSSAI, WHO.
  • The company should be profitable
  • Medicines at competitive and affordable rates
  • The company should possess a good market value
  • Company following strict quality measures.
  • On time delivery of medicines.

What are the Requirements to start a PCD Pharma Franchise?

  • Drug License
  • Sales tax Number
  • GST number
  • Tax Identification Number (TIN)
  • Pan Card of the company and the franchise holder
  • ID proofs of the Franchise Holder

We hope this article has given you some understanding about how PCD Pharma franchisee is changing the indian pharmaceuticals Industry. If you like to know more about the pharmaceuticals industry and PCD pharma franchise, then fell free to contact Mediday Healthcare Pvt Ltd. We are the leading PCD pharma company in India. If you would like to know more information about our company and the products offered by our company, feel free to contact us and visit our official website to know more details. We will be happy to help you set up your Franchise Business.

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Know the Pharma Franchisee – Important Role in Pharma Industry!

Pharma Franchise has gained a lot of success and fame in the past decades and its Popularisation has made it a backbone of the Pharma industry. There are multiple reasons for its Success. It attracts the number of customers due to its low investment and high revenue concept. It Provides high exposure in the market.

It plays an important role in the Pharma Company as it helps in bridging the gap between the customers and the medicines. Which in turn leads to the growth and success of the pharma company.

It is the best practice that the pharma company provides exposure in their domain in the most effective manner. They Focus on delivering all the drugs in almost every states and cities.

Some of the Factors why pharma franchise plays an important role in the Pharma Industry are listed below:

Monopoly Business: Pharma franchise is a monopoly business; they are the market leaders. The concept is very beneficial as it offers to expand their business by appointing area wise franchise. This strategy helps the company to reach everywhere and establish better relations with the partners.

Maintain Timely Supply: Sometimes Big pharma companies fail to supply the life-saving drugs on time or fail to supply in some parts of the country. During this time the Pharma franchise company play an important role by supplying important drugs in the market and keep life saving drugs available in the market.

New Alternatives: The more the pharma companies enter the market, there is always scope for the new products to enter the market. This provides the doctors with a lot of options in prescribing the medicines to its patients.

New Entrants: It is very difficult for the new companies to get into the health care sector. Many big companies prefer to provide the distributorship to only big and financially sound companies. But the Pharma franchise company provides the franchisee to the new entrants with less investments. New entrants will get the brand name, right products, marketing support from the company which will help them to establish their Business.

From all the points discussed above it is clear that the Pharma Franchisee plays an important role in the pharmaceuticals sector. It is now expanding the business day by day.

Mediday is a leading PCD company, if you wish to know more details about the Pharma Franchise; feel free to contact Us anytime. We will be happy to answer your queries.

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Popularization and future aspects of Pharma franchise Business in India

Popularization of Pharma Business
Before Knowing the reasons for popularization of Pharma Business, let’s first understand the Business.

Pharma franchise is an agreement in which a pharma company provides authority to run its business operations. The Franchise is responsible for all the activities starting from manufacturing to marketing.

What Made Pharma Business Popular?
Pharma Business have gained a lot of popularity these days some of the reason for the popularization of the Business are listed Below:

Low Marketing Cost:
There is no need to spend a huge sum on the marketing as it will be provided by the pharma company. Unlike other business where one must spend huge on the marketing, pharma Business involves less marketing cost.

Low Administration Cost:
As pharma franchise will be associate with the well-established company, there is no need to start a business with large team, it will reduce the administration costs of the Business. Thus, this also attracts the new entrepreneur to join the company.

Out of Box Thinking:
The Business structure in Pharma Business is open, it provides a broader scope for innovation, Making it a key Feature in the Business.

Less Work Pressure:
There is no one to rule you, so there will not be much work pressure. You can be your own Boss.

Excellent Career Growth:
Pharma Business has a wider scope for career growth, it provides unlimited career opportunities as it is virtually unlimited.

Guaranteed Results:
Pharma Business undoubtedly provides guaranteed results due to multiple reasons; it has gained a significant recognition and growth in the past few decades.

Future Growth Aspects in the field of Pharma Franchise Business.

Looking into the popularization of the pharma business, it is quite clear that future of the pharma Business is bright.

The increase in the healthcare sector in India, provides a lot of opportunities for the Pharma business.
As the investment is less in the business, it bears less risk in the market. If you choose a right Pharma company, the success is guaranteed.

Pharma Company will not only help in the growth of your business but also will help in individual’s growth by getting familiar with the healthcare sector and medicines.

Mediday is a leading pharma Franchise company, we focus on enhancing the quality in the health sector, we help in choosing the right products for both the distributors and franchise.

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What important role does ‘Having Pure Monopoly’ play while doing pharma franchise business?

Pure Monopoly is a situation where there is a single seller and no close substitutes for the products in the Market.
Having Pure Monopoly in PCD Pharma Franchise will have full control over the supply and possesses the market power to set the prices.

Having Monopoly is Pharma Franchisee business is important as it will have control over the Market and the distributors will have no threat of their business getting into Loss.

The Distributors will like to take franchise where there are no other sellers and no close substitute for the products in the Market.

Characteristics of Pure Monopoly In Pharma PCD Company:

Single Seller and huge Buyers: There will not be any other seller in the marker and the number of buyers will be huge as it is the only supplier in the Market.

Elimination of Close Substitutes: There will not be any close substitutes for the products in the market, as it is a Monopolistic Market. And there is no threat of substitutes in the Market.

Entry of New Sellers is Difficult: when the market is owned by a Monopolistic company it is difficult for the new sellers to enter the market.

Price Stabilisation: The demand and supply are controlled by the PCD company having Pure Monopoly, when the demand is controlled by the Monopoly Supplier, there will be a fixed price which all the buyers have to pay.

Benefits of having Pure Monopoly in PCD Pharma Franchise:

Having Monopoly in PCD company is important to both distributors and the manufactures, both get the benefits out of the monopoly market:

Distributors attraction: Distributors will like to take the Franchisee from a monopoly supplier as their will not be any threat for their sales from other sellers.

Distributors Commitments will be Safe: A distributor will commit the doctors to give a certain percentage of the sales made by doctor prescribing the product, if there is other seller who sells the same products then the distributor will end up in loss.

No Loss of Sales: If there are other seller in the same area and if they are offering the Chemist the same products with a lesser price the chemist will tend to buy from the other source and will impact on the sales of the distributor, But in case of Monopoly PCD pharma Franchise, there is no such possibilities of loss

Thus, having pure Monopoly in the PCD Pharma benefits the Distributors in every possible way to have a healthy business in the market. As the distributors are safe and have no risk of loss of sales, they will continue with the manufacturers and the manufacturer will also be safe without the threat of losing the distributors.

We at Mediday will provide the distributors with pure monopoly and eliminate the risk of other suppliers taking over the market. Mediday will eliminate the substitutes of the products in the market leading to healthy Business.PCD

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Why is it better to choose a company which has a good company profile and rich marketing history?

It is Important to for a PCD Pharma company to have a good company profile and History as it reflects the Company’s Quality by itself. Having a good Company Profile will attract the Doctors to Prescribe their products and in return gain a huge market share. The popularity in the market leads to a better growth. The brand name and Reputation of PCD pharma Franchise can help the company survive in the market.

As PCD Pharma companies deals with medicines, it is important to check their history in terms of the company name being involved in any legal cases and the reviews that are shared about the companies.

Benefits of Choosing a PCD Company with a good History:

History can sell: History about a company by itself tells a lot of meaning full stories about the company, when the stories are real people tend to believe in it and once the people believe, it attracts a huge sale.

Greater Scope in the Market: As the company is having good history there is a greater scope in the market, just by telling that the company is from many years will not attract the customers but by the stories of achievements in the past will attract a huge market share.

Greater Acceptance by the Doctors: Doctors before prescribing will analyse about the PCD Company and a good history can convince the doctors about the products, once the doctor is convinced, he will prescribe the products and can help in building the reputation.

Availability: The most demanded product will be known by a good company which is in the Market from a long time. The company will make sure to always have a stock available. The Doctors always prefer a company who will have the stocks readily available and never goes out of stock due to seasonal fluctuations.

New Product Acceptance: New products will be quickly accepted by the doctors once they gain the trust on the PCD pharma company, the good profile of a company plays a vital role in acceptance of the new products by the doctors. As the History will tell about the Successful products introduced in the past thus helps in the acceptance.

Trust Gain: As medicines are a delicate matter to deal with, the doctors will see the history about the company to know if they were pulled into any legal matter in the past and the past products to know about the real success of the company. If the company is having good history, it helps in gaining the trust by the doctors. It will be very easy to convince the doctors about the products of the company with a history.

Hence having a PCD company with a good history and niche marketing past will help to gain a good brand name and reputation in the market. The more real the history is the more it benefits the company.

Thus, choosing a PCD Pharma company which is having a good history will help the franchisers gain good market share and growth leading to the successful business.

We at Mediday have delivered high level standard products in the past leading to a greater success and promises to deliver the same in the Future. We are always working for better journey of the distributors with us.

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How to start a Pharma Franchise or PCD Pharma in India?

If you ask a pharma franchise owner, he may suggest you how profitable this business has been all over the world. And, the primary reason behind it is the booming market of the medicine and healthcare services that people of all ages require. But, setting up a capable PCD pharma in India is not that simple. Many people are confused about how the process works or how they should proceed with this business.

Process to start PCD pharma or Pharma Franchise business

The fundamental step to start a pharma company is by gathering enough information first. You will need to research properly as you are about to invest in the business – whether it is a PCD pharma company or a Pharma franchise.

Market Research
Market research is important in any business. It keeps you several steps ahead of where you are about to head in your business scheme. Research the pharmaceutical company that you are looking forward to invest in before starting your PCD pharma or pharma franchise.

Availability of the pharmaceutical products
To start a PCD pharma or pharma franchise you need to build up a list of products that you are about to sell to your customers. Do note that the list of products should be genuinely available with the pharmaceutical company. Many companies just create fake product lists, which later can be troublesome for your franchise business when you are looking to supply to your customers.

Be specific about the terms of payments
If you are low on investment and are looking for products on credit, then do make sure that you are choosing a pharmaceutical company that is ready to give you products on credit. It is always prudent to start affiliation with a company through an advance payment so that you can stay on the good books of the manufacturer letting you have access to the supply more often without any limitations.

Keep track of the terms and conditions as well
Your relationship with the company to start your pharma franchise or PCD pharma needs to be properly agreed with terms and conditions on paper. Do not rely simply on a verbal agreement as this could only make it harder for you to keep track of in the future.

No obligations related to targets is important
Some companies apply terms related to fulfilling of targets. Unless you are fully aware of such agreements and are willing to take the risks, do not agree to them. Try choosing companies that do not restrict you on fulfilling targets.

Getting PCD Pharma Franchise Procedure

After research and studying of the terms and conditions, your next step is to execute the second phase of your PCD pharma or pharma franchise business plan.
While there is no accurate procedure to setting up such a business as every pharmaceutical company has its own rules and regulations. However, in India district-based distribution is the most common one.

Following are the steps involved in the process of getting PCD Pharma or Pharma Franchise:

  1. Select the market area you would like to start your business at.
  2. Find the right pharmaceutical company from where you would like to acquire your pharma franchise.
  3. Send in all your pharma franchise-related queries to the company whether they are looking for dealers. Try sending to several companies and wait for their response.
  4. Ask for the price list and all information based on the products they sell.
  5. Compare all responses and choose the most appropriate one.
  6. Generate an agreement with your chosen company based on their terms and conditions.
  7. Finally, you can move on to start your PCD Pharma Franchise
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How much investment is required to start PCD pharma franchise in India?

Every business requires some investment. Whether you aim for a small or big business or look forward to start a franchise, there is a requirement for an initial amount of money as an investment to start with. The initial investment will take care of a number of requirements such promotional aspects, advertising, employee salary, and the goods to be purchased. Investment in a pharma franchise company also covers up similar steps.
A Pharma PCD company involves an affiliation with a third-party pharmaceutical products manufacturer from whom you will gain a franchise to sell their products to customers. The benefit of such a business is that you can start the business with your own brand name. So, all you have to do is market medicines produced by other manufacturers and gain profits. Indian pharma PCD companies have always focused on various pharma products that offer them a monopoly in the market. But, it all requires a huge investment. Moreover, you need to have proper certifications to start your franchise that covers up drug regulation policies as well.

Guide To Understand the Investment Needed For Starting PCD Pharma or Pharma Franchise

  1. Your investment in the pharma PCD company will involve you to invest your money in the products, marketing and the doctors.
  2. Your investment money should also be targeted towards the storage areas in your store where the purchased products are going to be kept. Medicines have to be located in safe places with big storage rooms. Be ready to pay in advance for the purchases related to the medicines as Indian pharma PCD companies that manufacture medicines are going to ask for an initial amount to start. This can be around Rs. 25,000 minimum.
  3. Your money will also be invested in promotional aspects that include the company logo, catch covers, internet advertisements, visual aids, etc.
  4. Investment in your chosen pharmaceutical company for your pharma franchise company should also be started only after gathering information related to the competition in the market. If you find it feasible to invest, then proceed with it.
  5. Set up your margin before investing upon your employees as well as your business requirements. After all, profit is the main goal.
  6. Invest only if you feel that the quality of the products is high enough to provide to your potential customers.
  7. Investment in product delivery services is also an important aspect of pharma PCD company. Many customers look forward to getting products delivered to their desired locations, so you should raise the quality of that sector.
  8. Many Indian pharma companies are willing to give discount on larger investments. This discounted money can be used in other departments of your business, so if you can invest more, then you can save more.
  9. Besides these investments, you are also likely to invest on documentations and licensing.
  10. Buying medicines in bulk will cost you less, so that is another way of lowering your investment.
    While setting up a pharma franchise company may sound easy, not all succeed in this business. To simplify your issues while running this business, you will need to research properly before acquiring franchise of a particular pharma company.
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