The Indian pharmaceutical industry makes tremendous contributions to the global healthcare sector. Indian pharmaceutical companies are known for producing high-quality and low-cost drugs not only for use in India but globally as well. About 40% of the income from generic pharmaceuticals comes from India, and 25% of all medicines are exported to the UK. The industry has experienced 6-7% growth over the past five years. For pharma professionals, several opportunities are created so they can transform the landscape and emerge stronger. One of these is the PCD Pharma Franchise.
Zenkins Pharmaceuticals has outgrown as the best pharma franchise company in India. We are striving to improve healthcare with new innovative solutions and providing them at a reasonable cost so that everybody can benefit from them.
Procedure to start a PCD pharma franchise
There is a well-established procedure that you should take into account when opting for a PCD pharma franchise business. The basic concept of a pharma franchise business is that there will be a mutual working agreement between the PCD pharma company and the pharma franchise.
As per the pre-decided agreements, the pharma company allows the franchises to use its brand name. Also, the pharma company provides pharmaceutical products to the pharma franchise at a pre-decided rate. Then it is the responsibility of the pharma franchise to sell those products in the market and earn a handsome marginal profit. This model of business is a great opportunity. Go through the below-mentioned step-wise procedure to start your own pharma franchise business.
It is wise to plan before beginning. Make a proper business plan with all the necessary steps. Do research the segment-wise product range, marketing strategies, and targeted channel partners. Financial and investment planning should always be on your priority list. Finalize how you see the future of your business. Decide on your business mission and targets.
Registration and license
Before starting a pharma franchise, it is compulsory to register your company to obtain a drug license and GST number. It is to be noted that you may use your distributor’s license number but still it is always safer to have your license.
Select the area
Selecting the area for your business can be tricky. You can sample survey your competitors, their product range, their price range, and people review. This will provide you with a deep insight into the pharma business. Also, make a list of the doctors and chemists in the area and plan your product distribution process.
Decide the product list
It is worth investing your time into deciding your product list. You can choose it as per your expertise. Moreover, it is always beneficial to have a wide range of products such as pediatric, derma, gynec, etc.
Do your complete homework in researching the best pharma franchise company in India. Make a list of at least 5 PCD pharma companies and compare them. Along with the product range and pricing, also take other factors such as promotional support, communication, and delivery into consideration. Then finalize the best pharma franchise company in Indiathat suits your needs.
Terms and conditions
Prepare a list of clear terms and conditions as per the mutual understanding between both parties. They must be in writing as it will be helpful for any future dispute.
Make your final order
After all the above-stated steps, it’s time to make your final order with the best pharma franchise company in India chosen. The pharma company will send you the proforma of products and the amount to be paid. Do the payment and begin your new business journey