What is PCD Pharma Franchise Business ?

“PCD“ means Propaganda Cum Distribution where ‘Propaganda’ means to promote or promotion of any product through marketing or advertising and ‘Distribution’ means supplying that product in the market.

So, Pharma PCD business is about marketing and distribution of pharmaceutical products through franchise distributor. It is a great time to be in the pharma industry. With the growing population, demand for healthcare medicines will only continue to grow.

As a result, more pharmacists are transitioning from working at drug stores to owning their own pharma franchises as PCD pharma franchise.

If you’re looking for information or FAQs about pharma franchise business ownership as an investment opportunity, you have come to the right place. When it comes to starting your own business, there are plenty of Frequently Asked Questions out there.

Many people dream of launching their own business one day, and becoming an entrepreneur is certainly a fulfilling career option. However, that doesn’t mean starting your own business is easy!

When you narrow down your ideas, you need to conduct some serious research about the various types of businesses on offer as well as their pros and cons.

There are many different ways that you can get involved with this business, but one of the most accessible entry points is through a PCD pharma franchise.

Why? Because it combines all the benefits of being your own boss with an established business model and low initial capital outlay. Let’s dive deeper about what makes a pharma franchise the best.

Want PCD Pharma Franchise?

Q1. How can I Start Pharma franchise?

To start Pharma PCD Franchise business, you ought to have sufficient knowledge about various requirements for PCD franchise that you wanted for marketing.

You mainly require two documents for purchase of medicines.

One main document that you require to enter into this business is wholesale drug license and the other document is Goods and Services Tax registration number.

These both documents can be arranged from local authority of your state or the other option available is to appoint local wholesale drug license holder stockiest.

Q2. How Do I Select Best Pharma Franchise Company?

Tips for selecting Best PCD Pharma Company

1. Name of the Company

The name of the company should be catchy. Try to select unique and professional company name. It should be easily pronounceable and remind able too. Company name is an important aspect that you should consider while selecting franchise company as it will be your brand recognition.

2. Product Range

Product portfolio is equally important as the company name. Firstly, choose your product range according to your targeted market need. Range of products should be such that suits your market or the specialty you will be working.

Choose company which has product range of your interest whether having 60 products or more than 600 products.

3. Brand Names

Brand names of the products should be easily pronounceable and remind able likewise company name. Doctors shouldn’t face any difficulty while reminding or prescribing your products. Moreover, short and technical name build strong impression.

4. Packaging

While selecting franchise company, you should consider good packaging of products. Products packaging quality leaves good impact on patients, doctors and chemists.

Packaging leaves the first impression of the product and company on the buyer and that should be very attractive.

5. Availability of Stock

Before starting PCD franchise with any company, be clear about your stock availability terms. The nature of the company’s supply chain has a significant effect on its success or failure. This is the major problem that is faced by most of the companies.

Other factors can be neglected but you can’t compromise with stock unavailability. Supply of medicines needs to be managed efficiently.

Once doctor has started prescribing your brand, he can’t wait for you if you can’t supply product on time. You can loose your business.

Clarify all things about stock availability to company and take proper assurance about their regular supply.

6. Business Promotion Support

Through promotional inputs you will be actually introducing your company to the potential consumers. They are the main part of your working in doctor’s chamber.

Promotional inputs has a strong effect on prescribing and medicinal use decisions. Choose company which can provide you timely and regular supply of them.

For example, visual aids, detailing bag, catch covers, reminder cards, dairies, pen, key chains are few inputs that are provided by companies.

7. Monopoly Rights and Marketing Agreements

Monopoly rights are the back bone of any pharma franchise business. So, marketing and monopoly rights are taken on legal agreement indicating you are the sole distributor and marketing person at monopoly rights for a particular area.

Initially, you may not know its importance but in future you can face major problems like infiltration of products from other areas or change of distributorship to other person by company itself. Be straight in this matter.

8. Net Rates

Net rates are the cost of drug. Net rates can vary widely depending on the type of drug and how much it costs to manufacture.

Compare the rates of around 5 to 6 PCD pharma franchise companies having products list of your interest. After comparison if you find rate of products are higher for the company you want to select. You can negotiate with the company authorities about rates.

If they agree on your rates, you can start with them.

9. Payment Terms

Clarify all your doubts about the payment terms and conditions. In the beginning, you can start with advance payment but you can also ask for credit terms after some time. Otherwise companies may not agree on your conditions.

10. Company Management

Good management of any organization is always beneficial for all of the associated members of organization.

Therefore, management having pharma based education and experience can easily understand your basic products problems or practical field force problems.

So, before finalizing, go through the management qualification and experience definitely.

Conclusion

Franchising involves the relationship between an existing business and a new one. In a franchise, an existing business provides the resources, expertise and/or products that a new business needs to get started.

The new business then takes ownership of these assets and runs them as its own independent business.

There are many benefits to franchising.

First, it can be an easier way to start a business. All you need is an idea and some capital to get started.

Second, franchising can be more profitable than starting your own business because you have access to the experience and resources of an already successful company.

And third, franchising can help you grow your business if you become part of a large network of other businesses with similar models.

So, if you are ready to start your own business or looking for a way to expand your existing one, consider franchising as an alternative option.

Related: Is PCD Pharma a Good Business to Make