Pharma Franchise Business

You may have many questions in your mind, from how to choose the right company or to what exactly a pharma franchise business is. To understand about pharma franchise business can be complex for beginners, with so many different factors to consider before making any decisions. But don’t worry, here are the answers on some of the most frequently asked questions about pharma franchise business.

Pharma franchise business is a profitable business with many new products and new molecules in the pharmaceuticals. Thus, more and more entrepreneurs are trying pharma franchise opportunities to launch as their own franchise business. If you’re thinking of starting your own pharma franchise business, it’s important to understand what that means, who might be interested in investing and how you can start it. Here are the “Who”, “What”, “Why” and “How” of pharma franchise business.

Whether you’re an entrepreneur looking for pharma franchise business or a newcomer in the industry let’s know more about pharma franchise business together!

What is PCD Pharma Franchise?

PCD Pharma Franchise is a pharmaceutical franchise distribution-based business where a company gives rights to a franchise partner to market and distribute its products in their local district-wise or state-wise area.

Who can benefit from a pharma franchise business?

• New Entrepreneurs – If you’ve always dreamed of owning your own business but don’t have a lot of experience or money to do so, starting a franchise can be a great option. With established marketing plan, franchises are a great way for entrepreneurs to earn money and gain business experience quickly.
• Business Owners – If you already own a pharma business and might be able to franchise it. This could be great news for existing business owners who don’t want to sell their company but would like to expand and earn more money.
• Investors – If you’re looking for a great investment opportunity that lets you stay in the background, a franchise could be the right option.

How much investment is required in a pharma franchise business?

Investment required to start a pharma franchise business is approx. in between 3 to 10 lakhs. It differs depending on factors such as location, size of the business, product range, product segment you choose and the type of franchise you go with.

What are the different modes of transport used for pharma franchise business?

Different modes of transport used for pharma franchise business include airways, railways and roadways. Transporters that provide the Draft on Delivery (DOD) facility are also used.

What is GR/LR/Bilty?

GR/LR/Bilty is a document that is used to track the movement of goods from one place to another. It is a proof of delivery and is used to make payments.

What are the different licenses required for the pharma franchise business?

A drug license is a legal requirement for business dealing with pharmaceutical products. Different types of drug licenses that are required for the pharma franchise business are Wholesale License, Retail License and GST.

What is the Drugs GST rate?

The GST rate for allopathic medicines, ayurvedic, homeopathic is 12%,  whereas for life-saving drugs it is 5%.

Is pharma franchise better than pharma start up?

Pharma Franchise is better than pharma start up as it is an easiest way of starting a business for any beginner. Pharma franchise provides stability with a financial safety as well as the ability to scale up your business quickly and easily than pharma start up. Franchising can be a better option than starting a new business, provided that the franchise has the right licenses and product range.
Because of its advantages over start-up, pharma franchise is more preferable for entrepreneurs who are new to the industry or lack experience in running a business. However, it should not be confused with pharma start-up. Franchising involves just obtaining license and stock in order to open up franchise business.