Prerequisites to Start PCD Pharma Franchise Company

Starting a business has become a lot easier in today’s scenario but yet it becomes unsustainable when the product doesn’t work or just because of some internal issues. Due to this, business people think twice before getting into big business ventures. Franchising although has become a lot more popular these days due to its low-risk factor, in terms of products as well as investment. In these times where the Pharma industry has grown rampantly, with approximately more than $ 1 trillion capital worth of market, it’s no wonder that it had to jump on the franchise field as well. To strengthen the marketing strategy and the sales of their products Pharma Companies have now started to provide multiple business opportunities to individuals as well as businesses through Franchise business. Now let us talk about how you can get into this trending business that is creating a lot of hype worldwide.

Concept of PCD Pharma Franchise:

PCD which means Propaganda Cum Distribution is a brand-new concept used specifically by the Pharma companies. Through this marketing concept, individuals and businesses are granted authorization by the pharmaceutical companies in India. These individuals get direct access to the proprietary knowledge, products, trademarks, monopoly rights and are also liable for mutually agreed terms and conditions between the two parties. This concept is a refined version of the Pharma Franchise that used to prevail previously. But although PCD is for small scale business, this is the only difference the previous and new concept.
But what are the prerequisites so that you are on the safer side at all times?

Monopoly Right Vacancy & Expansion:

Because you are starting a franchise business, it is immensely important that you get a vacant place at the desired location where resources you need are accessible and where there is a huge demand for the products. This plays a big role as you also have to forecast the expansion you can make in the near future. And always have your monopoly rights in a written agreement with clear terms and conditions agreed by both parties. This monopoly right will save you from the competition and also escalate your growth in a massive way.  

Qualification & Experience Needed:

To get into PCD Pharma Franchise business in India is not a big deal because you don’t require to be a professional pharmacist Although you do need some years of experience in selling and promoting of pharmaceutical drugs. Check to mark the list below and you are good to go with this requirement.

• At Least 2-3 years of experience in selling and marketing of pharma products
• There is no minimum qualification for this business, although a bachelor’s degree would be great for the business.

Investment Needed to start a PCD Franchise business:

In any Business, investment plays a major role in starting and running the business on a regular basis. Even if you are thinking of starting a PCD franchise, it does have an investment requirement. Because PCD is the miniature form of Pharma franchise, you don’t have to worry about huge investments. You can start from as low as Rs.10,000 to as high as Rs.3-4 Lakhs according to your affordability. This makes PCD franchise business much affordable for many pharma entrepreneurs and we can say that this is one business model with the least risk factor. Although we advise you to keep at least Rs.1 lac in your bank as an emergency fund so that your business can bear those shocks and as well pay its bills regularly.

Registration Documents Required for PCD Franchise Business:

Documentation and registration is a process you shouldn’t miss out while you are dreaming of building your business. Pharma companies and the government is quite strict in this case because millions of lives will be affected by your business. So, you shouldn’t play with the health and lives of the people, it might put you in big trouble. So, to become a certified dealer and get approval to do business with the top Pharma companies, you must have the following requirement of registrations and documentation:

1. Drug License Number.
2. Pharmacist registered under State Pharmacy Council
3. GST Registration
4. Private Limited Company Registration, if required.
5. PAN Number.
6. TIN Number (Tax Identification Number)

How to find the Best PCD Pharma Franchise in India?

After knowing everything about PCD pharma franchise business, now you feel like you are ready to start the business right away. But wait, because you are left with one deciding factor which depicts the success of your business. You won’t get the success you dreamt of if you stand by the wrong Pharma company. You must be critical while selecting and choosing the company, whose products you want to promote and sell. Here are some tips you can use while you go through different Pharma Companies:

1. First of all, your research needs to be strong. So, search for the Pharma companies on the internet as well as do physical research on the ground by asking people who are aware of this business or who have done it for a while.
2. Once you have different companies in your hand, start learning about them. Look at their registrations and documentation as well as. See if they are ISO certified or not and all other things which make a company legit.
3. Then see what is it that they are offering you, the benefits you will get and also other rewards and perks you get if you start their franchise.
4. One of the most important things you must look out for is monopoly rights. You should only start a PCD pharma franchise business if the pharma company provides you monopoly rights. This will let you capture the market around your allotted zone and you will not face competition.
5. See if the company can meet the demand when the order comes because sometimes it’s shown just on the catalog and this will delay your delivery.
6. Watch out for quality issues because it can have a major impact on your business.
7. See if they have GMP certified units, and are self-owned.
8. Their drugs list must meet the DCGI drug list.
9. Quick delivery assistance is a must.
10. Must have genuine quotation prices.

Conclusion

It is forecasted that the Indian Pharma Industry will reach a mark of US$ 55 Billion by 2020. An industry which didn’t get affected a bit with the introduction of GST (Goods & Services Tax) is one hell of an industry. Pharmaceutical drugs never go out of demand and they are here to stay till the next apocalypse. With undying demand and industry which serves straight to the masses, getting into Pharma Business wouldn’t be a bad choice for starters. To deal with PCD Pharma franchise company in India and start your own business in our perspective is a great way of earning good money with less of an investment.

Are you having a tough time in choosing the right PCD Pharma Company in India with the right benefits?
If yes, then you’ve come up in the right place.
Selecting a right PCD Pharma Company is quite a task, and if done the right way it can fetch you benefits that are literally beyond your imagination. A professional company gives you more benefits than the other ones, so choosing wisely and systematically is a very crucial task. Selecting a good pharma organization is vital else all your efforts and time get wasted and of course your money too. With the rising competition these days in the Pharmaceutical Industry it has become very difficult to choose the right PCD Pharma Company. Let’s discuss the steps to be followed for selecting a good PCD Pharma Organization in India.

1. Complete Background Check:

This is the first and the foremost step when you step into this Industry to start your new venture. A complete historical survey of the organization should be done along with all the products it deals in. A list should be prepared of all the pharma companies that interest you to invest in them and followed by that you can do a comparison between the listed companies depending on the priority level of the factors that are important to you in the decision making process. Always assure that a company should possess all the legal documents and certificates for trust factors.

2. Authorization:

After you’ve done a complete background check of the PCD Pharma Company you are keen to invest in, the next step comes is legitimate authorization. Before signing an agreement with the company make sure every law that might interest you in the future too has been written and duly signed in the agreement.

3. Certification and Approvals:

A decent and competent PCD pharma company will have all the certifications and approvals from the high authorities. Certifications are certainly the legitimate faith factor that binds the customers to the company.
Some of them are mentioned below in the list.

• ISO certified.
• Good Manufacturing Practices (GMP).
• DCGI i.e. Drug controller general of India.
• Food Safety And Standard Authority Of India (FSSAI)

4. Total Costs and Investments:

Before you think to put your assets in a Pharma organization it is vital to ascertain the entire speculations. To keep this circumstance you can likewise make a legitimate spending plan and after that contact the organizations as indicated by your demands and necessities. This is imperative to take your business to great heights.

5. Profits:

Reaping good profits from your investments in the business is of major concern. Every investor aims to earn huge profits, so look for a company that has a good reputation in the market and also along with the high market value it has good quality products. Choosing any such company will give you higher returns on the investments even if the investments were low.

6. Quality and Availability of Medicines:

This is yet another important factor to be considered while selecting a good Pharma Company. Your investment in a
company is a waste if the Pharma Company is not able to provide you with the right products at the right time. Make sure that the products have gone through a complete quality check because you would not want to risk someone else’s life.

7. Benefits and other facilities:

It would be a dull step in the event that you put resources into an organization which does not offer exciting benefits, services, and facilities. Ventures ought to be made preceding the advantages given. An expert pharma organization offers help to the clients and furthermore offer franchise services to eager clients.

Conclusion:

It is not only about picking the right organization, but it is also dependent on you as to how you make your own particular name in the market and expand your client base. It is likewise your duty to inspire individuals to focus on your organization, by boosting it in the best ways possible. All you need is to settle on the correct decisions and a full-time commitment to making your organization effective. Above mentioned are the top tips that need to be implemented while selecting a good pharma company in India. So go ahead and follow these steps to choose the
best from the rest.

In the past few years, along with other sectors, India has seen a humongous growth in the Pharmaceutical Industry. With the increasing scope of Pharma Franchise and PCD Pharma in India, it is certainly not wrong to say that PCD Pharma Franchise acts as a spine for Pharmaceutical companies in India. The pharmaceutical companies give rights for marketing and distribution to the PCD Franchise holder in the PCD (Propaganda-cum-distribution) model. Hence, the franchise holder is responsible for further marketing and selling of products of that very pharmaceutical company.

Benefits the Pharmaceutical Industry is reaping through PCD Pharma Franchise

1. Availability of all drugs every time
2. Prompt delivery of medicine range
3. Employment opportunity to huge masses
4. Chance to be a leading industry

Choosing a Good Pharma Company

Choosing a good and right pharma company is very essential to earn huge profits. It is a very critical aspect of the whole business. There are various points that are to be kept in mind while you are planning to take a PCD Pharma Franchise. They are:

1. The products offered by the company should be of good quality.
2. You should also check if the products that the company is offering, have gone through strict quality check parameters or not.
3. Existing profitability of the organization.
4. The company which has been shortlisted by you should have at least 5-6 years of experience in this domain.
5. Make certain that the Pharmaceutical Company with which you are wishing to sign the agreement has a reputable market value and goodwill in the market.
6. Dedicated customer service is of great value these days. If you want a quick redressal of your complaints and issues then you need to opt for a company that has tremendous customer support and service.
7. Before signing the agreement make sure that the company has proper legal documentation.

Promotional Inputs you will be given if you choose a good Pharma Company

Almost all the pharmaceutical organizations offer you a wide range of items like:

1. Working Bags
2. Visual Aid
3. Reminder Cards
4. Product Card and Brochures
5. Writing Pads and Diaries
6. Catch Covers
7. Business visiting cards.

The promotional inputs provided to you should have variety and good quality. All these products are made available to the PCD Pharma Franchise owner in ample amount to increase the visibility of the product and certainly the brand.

Conclusion

Well, signing a PCD Pharma Franchise could be of superb proposition from a profitability point of view. The amount of payback you can make from this business definitely depends on your strong network, capability, and sincerity towards your work. The more will be the sales, higher will be the revenues and hence would yield you better profits. One needs to put on their tremendous efforts in this industry to achieve much more benefits. We hope that this article helped you understand how the franchise business has been changing the pharmaceutical industry in India.