To understand the meaning of a pharma franchise company, let us first understand what a franchise is and how the concept is applied to pharma.
The term “franchise” refers to the authority given by a company to another company or person for the sole aim of carrying out predefined commercial activities. The other company is expected to follow the parent company’s principles and ethics when running a franchise business. Franchise when used in the context of pharma, becomes “pharma franchise” or “pharma PCD franchise”.
The term PCD stands for Propaganda cum Distribution and is a highly popular business model among the pharma franchise companies in India.
How does a Pharma PCD Franchise Model work?
The term Pharma PCD franchise refers to a system wherein a pharma franchise company gives authorization or permission to an individual or another pharma company- also known as pharma franchise owners/pharma distributors- to use the company’s proprietary information about its brand and products for the purpose of marketing, distribution and sale of the company’s pharma products and services. The pharma franchise company uses the PCD pharma franchise model to expand its business presence and product reach.
The commercial activities related to pharma product promotion and distribution is carried out on behalf of the PCD pharma franchise company in keeping with the pharma company’s business policies. In most cases, the medicine franchise company gives out monopoly rights for pharma distribution in the franchise’s target territory.
The model is based on a well-connected network of pharma distributors, stockists, chemists, doctors, etc. The foundation of the PCD success is a pharma franchise agreement which is duly signed by both- the medicine franchise company and the pharma franchise owner.
The Growth Scope of Starting a PCD Pharma Franchise Company
The economy of India has grown at a surprising speed over the last few years. Though the growth has been due to several industries, the pharma industry has its fair share of contribution in elevating the Indian economy to its present status. The pharma industry of India has a set an ambitious goal of passing the USD 55 million figure by 2020. This is an indication that the industry is moving rapidly and offers good business opportunities for both new and existing investors. One such business opportunity is to start a pharma franchise company in India which is a lucrative proposition offering good returns. Industry experts indicate that this is the right time to invest in a medicine franchise company in India if individuals want to enjoy the fruits of a growing industry.
A pharma franchise company buys pharma products from pharma manufacturers and then use the network of pharma distributors to sell, promote and distribute those products in the market for sale to the end customer. Thus, a medicine franchise company can easily attain a nationwide presence through its well-connected network of pharma distributors, stockists, and logistics partners.
Steps Involved in Setting Up a Pharma Franchise Company in India
Follow the steps below to start a pharma franchise company.
- Prepare a business proposal outlining the objective, mission, vision, the investment required, etc.
- Get the pharma company registered under the Company Act
- Obtain a wholesale drug license from your local licensing authority.
- Get a GST number
- Select the pharma products
Product Range offered by the Pharma Franchise Companies in India
The top medicine franchise company in India understands the requirements of its customers that enables them to provide highest-quality pharma products at reasonable prices. The top pharma franchise company deals in several hundred pharma products that can be categorized into several specialty and therapeutic divisions. The various specialty segments across which the pharma products are used are cardiac, diabetic, neurology, respiratory, dermatology, gastroenterology, gynecology, ophthalmology, dental, orthopedic, psychiatry, nephrology, urology, etc. The therapeutic pharma products offered by the pharma franchise companies in India are a blend of ayurvedic products, antibiotics, nutraceuticals, and much more.
The pharma products catered by the leading pharma companies in India are technologically advance and cover an entire range of dosage forms of various shapes, sizes, and colors. These dosage forms include tablets, injectables, capsules, protein powders, ENT drops, oral liquids, syrups, creams, ointments, gels, lotions, probiotics, prebiotics, sachet, etc.
The best pharma franchise company offers a diverse, comprehensive portfolio of specialty and general products that cater to a wide spectrum of acute and chronic treatments. These pharma products are prepared by WHO, GMP, ISO, GLP certified pharma manufacturers operating their state-of-art manufacturing facilities over large areas. The pharma products fulfill all quality standards and are DCGI approved that further adds to their credibility.
Growth Scope of Starting a Pharma PCD Franchise in India
For investors who cannot afford to make a substantial investment towards starting a PCD pharma franchise company, can still reap the benefits of the pharma industry by taking a franchise from the top pharma franchise company in India. Through a partnership with one of the leading pharma franchise companies in India, professionals can start their very own pharma PCD franchise business and carry out marketing and distribution of pharma products for the pharma franchise company on its behalf.
We shall discuss the benefits of taking a franchise from a top pharma franchise company in India in the following paragraph.
Benefits of Taking Pharma PCD Franchise from a Top Pharma Franchise Company in India
Here we discuss the advantages of running a pharma franchise for a top pharma franchise company.
- Pharma PCD franchise is an ideal business proposition that can be started with a little investment and is thus a low-risk model.
- Even small-scale and medium-scale pharma franchise companies in India can enjoy a broader growth scope through the pharma PCD franchise
- The business promises good returns.
- The top PCD pharma franchise company gives out monopoly based PCD rights to pharma franchise owners.
- The pharma franchise owner gets to be the boss of his own enterprise that allows room for flexible working hours.
- There is no sales target induced stress.
- The pharma franchise company provides assistance in form of promotional material and marketing inputs such as visual aids, letterheads, diaries, incentives, monthly promotion schemes, etc.
- The top pharma franchise company offers a vast array of pharma products and medicines to the pharma distributors to choose from.
- The pharma distributor enjoys the privilege of making his/her own marketing-related decisions.
How to Choose the Best Pharma Franchise Company in India?
The following tips will help you choose the right pharma franchise company for starting your own pharma franchise.
- Brand Reputation
Begin your search by determining what kind of reputation your prospective pharma company holds in the market. Assess how well the people identify with the brand, if the brand has performed well in the last few years and if there are plans for expansion in the future.
The best way to gain an idea about the company’s popularity is by talking to its past and present clients, read online reviews about the company and check if the company is involved with projects related to the upliftment of the society.
- Company Name
Choose a pharma company with a known brand name. Association with a well-known brand will help you grow your pharma franchise business at amazing speed.
- Pharma Products
A good PCD pharma franchise company will offer a wide range of pharma products of a superior quality. Choose a company that has products catering to a variety of specialty and therapeutic segments so you can easily make changes to your product line later on.
- Pharma Franchise Companies List
The pharma franchise companies list contains the top 10 pharma franchise companies in India. These are some of the best pharma companies in India in terms of products, prices, reputation, and much more. Thus, you could choose any of the pharma franchise companies found on the pharma franchise companies list.
- Certifications, Awards & Accreditations
Select a pharma company that is either certified by ISO, WHO, GMP, GLP, etc. or deal in products made by certified pharma manufacturers. Ensure that your prospective medicine franchise company has a valid pharma drug license to run the business.
- Product Pricing
A pharma franchise company that offers competitive rates to its clients is a potentially good company. Compare price lists of several pharma companies before making a choice.
- Monopoly Rights for Promotion & Distribution
Most leading pharma franchise companies in India give out monopoly rights for the promotion, distribution, and sale of pharma products in the franchise’s area of interest. This allows the pharma franchise owner to take his/her own marketing-related decisions and reduces the possibility of competition with the same brand products.
- Promotional & Advertising Assistance
The top pharma franchise company is good about taking care of its clients and that includes providing them with promotional and marketing assistance. The promotional support takes the form of bags, pens, visual aids, product samples, letterheads. The companies also offer promotional deals, monthly schemes, and incentives to increase the productivity of the distributors.
Why should you Choose Rednirus Mart for Choosing the Top Pharma Franchise Company in India?
Rednirus Mart has gained popularity for being one of the leading pharma marketplaces in India. The portal is an ideal place to look up pharma franchise companies and get in touch with them. The portal gives you a glimpse of the products, services and price lists offered by some of the best pharma franchise companies in India.
Additionally, Rednirus Mart lists WHO, GMP certified PCD pharma companies or companies that get their products from certified third party manufacturers. We provide a comprehensive product range spread across various therapy and specialty areas. Our clients are reliable pharma companies with a good track record and the best customer service.
Therefore, if you are looking to start a pharma PCD franchise for a top pharma franchise company, then get in touch with Rednirus Mart now. We will assure you the best products, the best prices, and the best services from our pharma companies. For more information, call +91 9876542225.