Updated on August 6th, 2018
Life-care Pharma products have a lot to offer to the business groups and also to the mankind. They are considered as one of the most lucrative, profit-generating and engaging business.
However, before stepping into this business one must be well-off with the ways to kick-off this business the right way. Knowing in advance help one to pick the track the correct way.
Let’s develop an insight into the Pharma franchise company business in India.
Know What Is A Franchise?
First of all, what a franchise is? It is basically an authorization or guarantee given by the main company, organization and also government wherein an individual or group are enabled or authorized to carry out certain commercial activities such as marketing of pharma products, supplying of pharma products and selling of pharma product of these companies.
Knowing Pharma Franchise Company And PCD Pharma Business-
Such authorization allowed the individual or the group of distributors to carry out the trademark, brand names, product/ proprietary knowledge and also other commercial activities at some terms and conditions mutually decided by both the parties. Moreover, Pharma franchise companies in India are also offered monopoly rights to carry on their business.
For instance, an array of services like- marketing, advertisement, supplying of medicines, doctor’s authorization, the appointment of the personnel of the distributorship and for other services related to offering the product and services of the pharma franchise business in India. The above type of dealership or partnership is termed popularly as PCD Marketing. That stands for Propaganda Cum Distributors.
In PCD type of Pharma Franchise business the pharma manufactures/ suppliers or professionals or any group serving in the pharma sector are given the monopoly rights based on the authorization given to it by the parent pharmaceutical company on its behalf wherein the former can use the brand identity, name, logo, slogans etc. of the latter company.
The Procedure To Be The Franchise Or PCD Pharma Franchise Of A Pharmaceutical Company In India-
In fact, the terms and conditions differ from company to company. The parent company can offer the PCD pharma franchise on the basis of area, or district, or state-wise.
Even offering such business does occur on the Zonal basis as well. In order to know more about the procedure of any particular company of your choice, you need to read out the plans and policy guidelines of the respective pharma company in detail.
Meanwhile, you must be prepared and clear with some of the basic questions from your own side before actually going to look for the Pharma franchise business in India.
This List Has Some Options For You-
1. Define Your Requirement
You must know about the molecule you want to operate with. Extending the same you should be clear on the type, variety or version you can excel upon and proceed with the same pharma franchise business. It is actually about doing SWOT analysis- Identifying the Strengths, Weakness of oneself and learning about the Opportunities and prevailing Threats at the same time.
2. Finalising The Company Whose Franchise You Want To Take
Well, it’s a pretty challenging task. For this, you will have to list out the names of the companies providing the best offer in the pharma industry. However, the more difficult is to choose one that suits your needs. After the careful analysis one can opt to go for a company they find the most suitable.
3. Fixing The Query Or Doubt
After you finalize the company you wish to go for, the next step would be reading out the policy documents and knowing the terms and condition of the main pharma company. You choose to communicate in case something you are apprehensive about or you are not much clear about.
The communication can be made through e-mail or SMS or maybe on the contact information given on the website of the parent pharma company.
4. Asking For The Product List And Price List
Once your query related to the terms & condition or seat vacancy on the desired area is settled for, you can go on to ask for the product list along with the price list from their side and take it on ahead.
5. Making Agreements And Start Working
Going through with the things will help you be confident enough to join hands with the best pharma franchiser, making the deal done and start working with your new associates.
It is always profitable and sensible to know more and more prior to finalizing the pharma franchise deal so as to reduce the risk to the lowest. Then will not only help you make a good decision in the beginning but also help you sustain success in the market for the long run. Additionally, it is equally important to maintain a long-term strong relationship with the right understanding, transparency, and strong-hold.