How to start a Pharma Franchise or PCD Pharma in India?June 19, 2017
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
- Your investment in the pharma PCD company will involve you to invest your money in the products, marketing and the doctors.
- 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.
- Your money will also be invested in promotional aspects that include the company logo, catch covers, internet advertisements, visual aids, etc.
- 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.
- Set up your margin before investing upon your employees as well as your business requirements. After all, profit is the main goal.
- Invest only if you feel that the quality of the products is high enough to provide to your potential customers.
- 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.
- 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.
- Besides these investments, you are also likely to invest on documentations and licensing.
- 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.