Starting your own business in the pharmaceutical sector can be both rewarding and sustainable, especially when it comes to the PCD pharma franchise business in India. As awareness of healthcare expands and the need for essential medicines outpaces supply, many entrepreneurs are viewing this opportunity through the lens of a low-investment high return business model. But how do you go about setting one up and even more, how do you ensure profitability?
This blog will guide you through the steps, tips and insights of launching and sustaining a profitable PCD pharma franchise business in India.
What is a PCD Pharma Franchise Business?
This pcd pharma franchise business in India model allows you to market and distribute pharmaceutical products under the brand name of established pharma companies. Under this model, you don’t have to invest in manufacturing, rather spend resources on advertising, selling and distributing the products.
It’s designed for sales and marketing, medical representatives, distributors or other people and even entrepreneurs who want to step into the pharma world without too much capital.
Step by Step Guide On To Start Pcd Pharma Franchise Business in India
1. Analyze Market Demand And Identify Your Area Of Focus
Before venturing, determine the supply and demand of your area:
• Which medicines have a demand?
• What is being supplied by the competitors?
• Is there a market for generic medicines vs brand name medicines?
Tip: It is always fruitful to start off with a single focused niche until the business takes off.
2. Choose a PCD Pharma Company With A Good Reputation
It is very important to consider the right partner for your franchise needs. Ensure the companies give you:
• WHO-GMP certified products
• Monopoly rights
• Attractive promotional materials
• Transparent pricing
• On-time product delivery
Things to check:
• Product list and samples
• ISO and GMP certifications.
• Details of Franchise Agreement.
3. Licenses and Registrations Required
The following need to be done:
• Drug License Number
• GST Registration.
• PAN Card and Aadhaar Card
Documentations must be in place before the very first order.
4. Obtain Monopoly Rights for Your Area
Numerous PCD firms grant exclusive monopoly rights. That is why only you can market their products in a specific region (district, city, or state). This eliminates competition from other franchise holders of the same brand in your area.
5. Spend Resources on Advertising and Marketing
Most companies provide:
• Visual aids
• Product cards
• Doctor samples
• Reminder cards
• MR bags and gift articles
Make use of these materials to reach out to doctors, clinics and other healthcare professionals.
Extra suggestions:
• Establish good networks with physicians and pharmacists
• Participate in regional medical gatherings
• Advertise on the internet and through WhatsApp groups
6. Control Costs and Manage Inventory and Distribution Efficiently
Don’t stock items which don’t sell as much and pay more attention to fast-selling items. With good relationships with locals within the distribution and wholesaling businesses, ensure smooth flow and timely deliveries.
7. Offer Exceptional Customer Service
• Fix order-related issues with expediency
• Deliver products on time
• Gather opinions from the doctors and distributors
• Regularly update your product list with the latest medicines
Tips to Maximize Profitability
• Focus on the products with highest demand and lowest investment.
• Target underdeveloped or semi-urban areas that already have low industry competition.
• Work with companies that have more SKUs.
• Restrict yourself to offering free promotional gifts and schemes in order to gain value-added services.
• Start with the most basic campaigns that involve mitigating expenses, averting unneeded storage costs.
Conclusion
If you are interested in starting a Pcd Pharma Franchise Business in India, then Indizen Pharmaceutical is a leading pharmaceutical company, distributor and manufacturer in India. The company started its journey two decades ago with the aim of transforming the pharmaceutical sector in India. Today, the company has state-of-the-art manufacturing units that develop 2500+ products with several brands and have 1000+ happy customers.
