Be an entrepreneur; start your own pharma business now! Be a PCD Pharma Franchise partner!
Indian pharmaceutical business ranks third in terms of volume and fourteenth in terms of value in all over the world. According to India Brand Equity Foundation (IBEF), the revenue of Indian Pharmaceutical sector in the financial year 2017 was the US 29.61 billion dollars and is expected to reach US 55 billion dollars by the year 2020.
In India, when it comes to PCD Pharma Companies things become challenging and a little bit different to find out a reputed company, so that you can easily make the right decision while selecting a PCD pharma franchise.
Let’s go ahead in brief about what is PCD Pharma Companies? So you will better understand about PCD pharma franchise.
PCD Pharma Companies are those companies, which provides pharmaceutical products, support, brand names, and monopoly of marketing and distributorship rights for the given location to its franchise partners.
What is PCD Pharma Franchise?
PCD pharma franchise is a franchise business, a new and rapidly growing concept. PCD Pharma means (Propaganda cum Distribution). In the pharma industry, it is promptly used for marketing and distribution right.
PCD pharma franchise is defined as the authorization of marketing, sales, and distribution rights provided by the pharmaceutical company to the pharma professionals and drug distributor at monopoly basis.
The reason behind the growth of PCD Pharma Franchise is that Pharma industries are one of the leading business that has no ends, i.e., future-focused. Currently, PCD business facilitates an opportunity for thousands of people in India to start their own business.
Points to be remembered before starting PCD Pharma Franchise:
Before beginning the PCD pharma franchise, the most crucial step is the selection of PCD pharma company, and it requires much attention because your carrier, money, and future is dependent on your decision.
These are some points, and one should keep in mind before selecting PCD pharma companies to start PCD pharma franchise:
Availability of pharmaceutical products: For pharma company, it is prevalent to show fake product list online so before making the payment for your PCD pharma franchise check whether all products which they mention are available to them or not.
Go through monopoly right agreements: Monopoly rights are termed as the rights given by the pharma franchise company to the pharma professionals for marketing, sale, and distribution of their products in a particular area. The monopoly rights are distributed region-wise either state level, district level or town level, and it depends on the investment by personnel. Hence, it is essential to go through with all the terms and condition of monopoly rights. It should be very clear about the area where you want to sell and market the products and take the written agreements of monopoly right.
Promotional inputs: if anyone wants their PCD pharma franchise regarding promotional inputs such as visual aid, visiting card, small gift articles, writing pads, reminder card, technical literature, brochures, and product cards, etc. Go for the company which provides all promotional inputs on time.
Net rates: check the current market presence and reputation of pharmaceutical companies before investing money in it. Compare net prices with other available pharma franchise companies.
In the last but not the least, to start PCD pharma franchise and set up your business, you will be relying on your work, your network and good relationship with pharma professionals and doctors.
Benefits of PCD pharma franchise: PCD pharma franchise is proven beneficial for both the business owner as well as pharma companies. It serves numerous benefits, such as:
Good carrier option: It is an excellent carrier option for pharma professionals, distributors, and wholesalers. Anyone can be an entrepreneur and work on their terms. No time bound sales and profit goes directly into their pockets.
Low investment capital: anyone can start their own business and become an entrepreneur at a very low investment of just Rs. 20000-25000.
Good profit: the PCD pharma franchise business is profitable for both business owner as well as a pharma company.
Distribution channel simple: the product distribution channel is simple; the owner can quickly get the product from pharma companies and sale directly into the market by company name and brand value.
Requirements to start the Pharma Franchise business:
Drug license: it is the essential document required to start a PCD Pharma Franchise business. Drug licenses authorize the pharma professionals for marketing and sale of pharmaceutical products. The State PCI (Pharmacy Council of India) issues this certificate to pharma professionals.
Premises: An outlet/store of minimum 15 sq meters with a refrigerator and air conditioning facility is required for PCD pharma franchise.
Experience: A fair amount of experience in sales and marketing can help pharma professionals to grow faster in the PCD Pharma Franchise business. It is not necessary for particular but can encourage you and have a positive impact on business.
Difference between Pharma Franchise and PCD Pharma Franchise:
Pharma Franchise and PCD (Propaganda cum Distribution) Pharma Franchise are the two terms of pharma business, and both of them work in a similar pattern. The concept behind these two terms is not new; still, most of us are confused in between them.
Let us enlighten you,
The term PCD or Propaganda Cum Distribution Pharma Franchise and Pharma Franchise are co-related words. They mean the same and has no considerable difference!.
The scale of business, investment, and qualification are the key points that can differentiate between these two terms.
The major differences are:
Sales target Planning
Concluding, the growth opportunities in both the PCD Pharma Franchise and Pharma Franchise are equal. If one is planning to start their own business, then pharma business is a better option. It will be a small step towards a more prominent future.
Securing Favorable Terms
In economics, competition is the rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix: price, product, distribution, and promotion. Merriam-Webster defines competition in business as “the effort of two or more parties acting independently to secure business by offering the most favorable terms.”
In his 1776 The Wealth of Nations, Adam Smith described it as the exercise of allocating productive resources to their most highly valued uses and encouraging efficiency, an explanation that quickly found support among liberal economists opposing the monopolistic practices of mercantilism, the dominant economic philosophy of the time. Smith and other classical economists before Cournot were referring to price rivalry.
Key Benefits of the Service
Customer-centric businesses build a virtuous cycle we call the customer wheel. We help companies at every stage of growth, developing custom solutions and collaborating with all levels of your business.
- We help you understand customer behaviors
- We help break down barriers to innovation
- We help resolve the pricing paradox
- We help align brand strategy with key objectives
- We help companies nurture loyal customers who are more profitable
We help companies identify quick, targeted, customized solutions as well as strategic and operational improvements to boost underperforming sales organizations.
We help clients define the target customer or sweet spot — the area of distinct advantage over competitors—to inform business decisions and investment allocation.
We ensure marketing investments are generating highest returns and reinforcing the brand positioning; and build a loyal customer base through branding that cultivates a strong, trusted image.
We work with companies to develop a series of positive interactions with the customer to earn their advocacy and inform consistent delivery of experiences to drive top-line growth.