In a flourishing economy like India, the pharma franchise sector is witnessing remarkable growth all across the world. It is not just the recent pandemic but the general trend shows an increasing demand for healthcare services. And with the medicines segment showing a constant upward trend, the pharma franchise business looks lucrative, stable and secure for the next few years.
With the increasing number of pharma professionals, the scope of pharma franchisees is also increasing. Therefore, an effective marketing approach and business strategy are crucial if you’re planning to start your pharma franchise business in India.
The reasons behind the growth of pharma franchises in India
You can think of starting a pharma franchise business with low investment.
With the ever-increasing demand for pharmaceutical products, there is always a greater scope for higher profit in this business.
As the need for medicines is always there across the globe, the chances of stock not getting sold are very low. In a nutshell, the risk of loss in a pharma franchise is low.
The monopoly rights agreement allows to start pharma franchise in an individual’s preferred location and also gives the liberty to choose which segment to follow.
The marketing and distributing rights given by the pharma company to its franchise partners help the franchise owners to get a stronghold over the marketing and distribution sectors.
The existing pharma companies are all well-established platforms. They provide exposure to the franchise partners to market their products in the national and international markets.
Most importantly, the franchise owners have complete control over the business and the decision-making process. This guarantees better profitability for the business.
Research shows that the Indian pharmaceutical industry is expected to reach INR 410 crore in 2026. Considering this scenario, investing in the pharma franchise business hold a lucrative opportunity for those who are looking forward to taking up pharma franchise in any part of the country.