What is Pharma Franchise? How to Get Pharma Franchise?
Over the last few decades, the Pharmaceutical Industry has gradually emerged as one of the booming fields in the healthcare sector. It is undoubtedly a booming field with unlimited career opportunities and business prospects. However, being one of the most lucrative industries, it is dominated by established pharmaceutical companies that have become market leaders and tough competition for start-ups.
Here is when the article starts getting relevant!
Under the current circumstances, if you are a Pharma start-up or a small-scale business owner planning to branch out into the pharmaceutical business, the most viable option for you would be to get a pharma franchise.
The pharma franchise business is a lucrative and extremely promising career for aspiring business entrepreneurs. However, this also makes it a highly competitive field with constantly emerging new competitors every moment. Thus, it is certainly not a walk in the park for most.
To mark a successful debut and survive in this business, apart from a standard business knowledge: time, patience, efforts and dedication are the paramount factors.
If you are interested in taking a Pharma franchise, you must understand the essential requisites and steps involved in getting a pharma franchise.
First and foremost, let’s have a quick glance over the points covered in this blog. Check whichever is relevant to your search!
- What does it mean?
- What is a Pharma franchise?
- PCD pharma in a nutshell
- Pharma franchise and PCD pharma, the main difference
- Why should you take a pharma franchise?
- How to get a pharma franchise? (that is probably why you came here!)
- How Texas Pharmaceuticals Pvt. Ltd.is a suitable contender?
Franchise. What does it mean?
Franchise literally means liberty to act upon a given role. In business, a franchise is an authority given by the main organization to an individual or group to facilitate certain activities that come under commercialization.
For instance, if you have a franchise of a business, that means you are in charge of its development, marketing and sales.
Franchise: Liberty (Anglo-french word)
Franchise business of the Pharma niche can be divided into two types:
- Pharma Franchise
- PCD franchise
Often used interchangeably, these two are not entirely the same. No need to get confused by the two terms; here is a quick guide to the basic differences between the two types:
| Pharma Franchise | PCD Franchise |
| Allows a person or a team to be a representative of the main company. | Grants authorization via pharma franchise to increase the brand’s reach in the market. |
| For business owners with rich experience in pharma. | For wholesalers, distributors, retailers, and Medical representatives with no specific experience. |
| High investment and finances. | Lower investments. |
| The covered area is broader. | The allotted area is smaller. |
| Bulk orders. | Lower initial orders. |
| High sales targets. | Lower sales targets. |
| Also called a Monopoly franchise. |
What is a Pharma franchise?
A pharma franchise is basically a business idea in whichthe core Pharmaceutical manufacturing company grants marketing and selling rights of its products to a business owner.
Pharma franchise: A business agreement between the supplier and seller.
| Supplier | Seller |
|
|
PCD Pharma in a nutshell
PCD Pharma is an authorization granted by a Pharmaceutical manufacturing company to distributors who manage the company’s commercial activities through marketing its products and services.
PCD stands for Propaganda cum Distribution.
The assigned professionals or distributors are allowed to act on behalf of the company and use the brand name and propriety rights.
PCD pharma franchise operateswith unspecific targets, less investment and small scale.
Still unsure? Here is the bottom line for the main difference between the two:
Pharma franchise and PCD pharma, the main difference
Pharma franchise and PCD Pharma franchise are interrelated, which is probably why most people don’t understand the difference. The main difference lies in the fact that both terms have different properties in terms of the following areas:
| Pharma Franchise | PCD Pharma Franchise | |
| Business scale and allotted area | Large scale and area | Small area to cover |
| Qualification and experience | Generally, high school graduates with rich experience in the industry. | No specific qualification and experience in the field, but a keen interest in sales. |
| Sales target | Small targets on a monthly or quarterly basis. | No specified sales targets, but benefits are given upon better performance. |
| Investments | Significant investment, starting at Rs.50K | Small investment, starting from Rs. 10K |
| Promotional aid | A large-scale of the promotional tool is utilized | Smaller promotional tools |
Why should you take a Pharma franchise?
It has already been established that the Pharma franchise is a booming business that has gained popularity over the last three decades. Here is why it keeps on thriving:
- Boosted demand for pharma products
- High availability of franchise companies and distributors
- Small investment
- Low administration cost with less workforce
- Low marketing cost
- Great profit and ROI rate
- Easy to manage distribution channel
- Shared responsibility with multiple partners
- Ideal for starting up a business owned by you
How to get a pharma franchise?
Now that you have got all the essential concepts covered, here is what you need to get a pharma franchise:
- Documents: get a wholesale drug license number and a GST registration number.
- Choose a particular marketing area.
- Choose a suitable pharma company for the franchise. Carefully check its legitimacy, product availability, payment terms, business targets, etc.
- Check the availability of a franchise at your chosen pharma company. For the sake of success, send your query to more than five companies.
- If you get a response from all of them, select the best one.
- Finalize the business agreement with mutual agreement.
- Get ready to start your pharma franchise!
How Texas Pharmaceuticals Pvt. Ltd.is a suitable contender?
Texas Pharmaceuticals is a leading pharmaceutical manufacturer and distributor of third-party Pharma Products. We hold robust expertise as the best PCD Pharma Franchise Company in North India.
We are an ISO 9001:2015 and WHO-GMP-certified company with a vast range of pharmaceutical products.
We have authentic pharma certifications and high product quality that makes us the best contender as the best pharma company for third party pharma manufacturing and PCD Pharma Franchise business.
Connect with us if you are looking to take a Franchise of a certified Pharmaceutical company.
