PCD Pharma Franchise

What is the Difference between Pharma Franchise and PCD Pharma?

Most of the pharma professionals don’t know what is the difference between pharma franchise and pcd pharma ? Hope after going through this blog, one will understand the difference.

In India pharma sector is progressing at a very high rate. India has been always at prime focus in pharmaceutical organizations for  last many years due to its low labor and production costs. There are two types of business models that are adopted by the pharma companies in India.

  1. Pharma Franchise
  2. PCD Pharma Franchise

WHAT IS PHARMA FRANCHISE??

It is a business model that is ideally designed for individuals with pharma experience who wish to do their business with monopoly rights. An individual works on the behalf of pharma company with their authorization. The aim taking franchise is to make a brand image of company’s products in their area. The person is responsible for marketing, sales and distribution of pharma products of company in a particular area. Monopoly rights helps an individual in better market penetration as there is less competition and high business opportunities.

WHAT IS PCD PHARMA??

PCD full form is Propaganda cum Distribution. The term PCD in Pharma is used in the same sense as a PCD Pharma Franchise with just some minor differences. Pharma PCD is a marketing technique used by the Pharmaceutical companies to retailers to promote their business on a smaller scale. It is suitable for individuals who have less knowledge in pharma field and can generally invest small amount at the initial stage.

 

People often mix up the two concepts however there is a little difference in both the concepts:

  • INVESTMENT:

In pharma franchise there is huge investment as it has a large scale of operations as compared to PCD Pharma business which is usually running in a smaller area.

  • AREA:

Pharma franchise covers a larger area in business aspects whereas PCD Pharma covers a limited area.

  • EXPERIENCE/ QUALIFICATION:

For franchise an individual requires experience of  working as well as proper knowledge of pharma field with documentations whereas there is no requirement of such degrees in the second case.

  • PRODUCT LINE:

In PCD Pharma there are limited products where as in the second one the product list is quite extensive.

 

PCD Pharma and Pharma Franchise are the two different sides of the same coin. It depends upon the experience, knowledge, and interest of an individual to start a pharmaceutical industry.

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How to Start Pharmaceutical Marketing Company?

In franchise business pharma marketing is a very broad term in terms of wide range of products that are spread worldwide.  how to start Pharmaceutical Marketing Company? the first and foremost important step for every pharma professional is to decide which segment you want to cover such as generic medicines, Over The Counter (OTC) products, Ethical marketing etc.

To start a pharma marketing company the basic question that comes to the individual’s mind is

How to open  a Pharma company??

the process to Start Pharmaceutical marketing company is not as complex as people usually thinks. You just need pharma knowledge and the documents to start a pharma  franchise company.

The first step is Pharma marketing company registration and after that you apply for Drug License number. In short the basic documents you would required is Drug License Number and GST Number. After getting these documents you can start you own pharma franchise company.

You would be proud to know that the Indian pharmaceutical market is the third largest in terms of volume per year as per a report by Equity Master, a leading equity research initiative. India leads to 20% total volume in the generic market which is a huge amount.

 

FIVE IMPORTANT TIPS YOU MUST KNOW BEFORE STARTING A PHARMA FRANCHISE COMPANY:

  1. Market Research : Before starting any business it is important to study the current market which includes the best location, products, know your customers and market. It is easy to start and gain profits in a pharma franchise company when we have done a proper market research.
  2. Hard Hitting Business Plan: A business plan not only helps us to start a pharma business but will provide a roadmap on which it will be easier to chalk the plans. It includes various decisions about location, customers, product line, competitors etc.
  3. Regulations and Registration: Getting your pharma franchise company registered includes a lot of things to do. You require registration from Drug Department which ensures quality standard of the organization. You also need to apply for Goods & Service Tax (GST) for the same.
  4. Marketing and Distribution: It is necessary to market your products effectively whether it is to the chemists, doctors or to the end customer.
  5. Customer Satisfaction: There is no business that can flourish without its customers. So a proper marketing team of professionals should be there who can especially work on that.

 

STEPS WHICH HELPS IN STARTING A PHARMA FRANCHISE COMPANY

  • Make a suitable business plan
  • Select a  company name and logo
  • Apply for drug license registration
  • Apply for Goods and Service Tax ( GST ) Registration
  • Finalize your premises for business
  • Arrange required funds
  • Finalize the top pharma company whose franchise you want to take
  • Decide your plan and associate with the pharma company
  • Appoint a team of individuals
  • Finalize marketing tactics and give final touch to the market

On the completion of the above points , now you have your own pharma franchise company ,your own market  and you have one plan to give wings to your dream. So, it’s the time take charge and grab the market opportunities and touch the skies of success in the pharmacy marketing company.

 

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What is the difference between Pharma Franchise & PCD Pharma?

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