Pharma franchise or Propaganda cum distributors is an authority that is given to an individual or a group of people by the manufacturer of a pharmaceutical company, giving a permit for selling the company’s brand name, product, and trademark. It also includes all the other commercial activities that a company takes out. This whole process is called PCD marketing.
These groups or an individual are allowed to sell the company’s name and products on behalf of that pharmaceutical company.
It is important to know about pharma franchises before planning to invest in them. Mentioned here are a few things you need to know.
What is the procedure to get a Pharma franchise?
The procedure differs from company to company. Some basic steps are mentioned below:
- Choose which product you wish to market on behalf
- select the brand or the company you want to sell
- Make a call to the company or send an email inquiring about the availability of the franchise. To get a quicker response, prefer phone calls.
- ask if they are vacant for the area you are selling in. If the answer is yes, follow them up and ask them to send the details of the product.
- Finalize the franchise for yourself
- Agree with the company and sign all the required documents.
- Start working for the pharmaceutical company and sell their product.
Please remember, the above-mentioned steps are just some basic steps, each company has a different process to give out their Pharma franchise.
There is one more simple and convenient way to get the franchise of a pharmaceutical company:
- Go to the website pharma franchise.club
- Post your requirements on this website like the area you are selling in and about your company.
- Once your requirements are verified, they will be sent to the right suppliers or the pharmaceutical company.
- Once the suppliers find you suitable, they will contact you directly.
Please note that this process might take a bit longer because your requirements need to first be verified and then you will be directed towards the right supplier. This might take some time but is still an easier way.
If you belong to Himachal, then you can look for a Pharma franchise in Baddi and check out the pharmaceutical companies that are providing the franchise. You need to follow the same procedure – fill in the form and reach out to a verified supplier.
What are the documents required for PCD?
For getting a franchise of a pharmaceutical company, you do need a lot of documents. The main 2 documents are:
- Drug license number
- GST registration number
How does the franchising system for pharmacy work?
The franchising system is not complex. It might seem to be one but is very easy to understand. There is a pharmaceutical company that has to sell its products in a particular area. Therefore, it finds the right wholesale seller and gives them the franchise to sell their products on their behalf.
When it comes to the cost – the manufacturing cost is the same for ethical as well as franchised drugs. If the pharmaceutical industry does not appoint a seller, they have to bear all the expenses – marketing, distribution, and employee expenses.
When it comes to pharma franchising, the company does not bear any cost including the marketing cost as they do not have to market their product. They have a seller appointed for that.
This is the process of Pharma franchising. It is a very simple process where two people are interdependent for the profits.
If you are looking for a Pharma franchise in Chandigarh, there are a lot of companies that are connecting individuals or groups to certain companies. You can find the best one and visit to get the pharma franchise.
What are the precautions that one should take before getting a pharma franchise?
Since getting a pharma franchise is a business-related process, there are a lot of precautions that one has to take and several things to consider before getting a Pharma franchise of a pharmaceutical company.
Study about the company you are investing in. Because it is not just you buying their franchise but also investing your time, reputation, and money.
Be very sure before you sign any document that is sent by the company. read the documents, take a second opinion on it, and then go ahead with it.
Make sure the products that you are selling are in a good condition. If not, complain to the company. Because it is you who is marketing and advertising the product and it will first impact your reputation.
Pharma Franchising is a business. It’s like two people who are dependent on each other for bringing in profits. PCD marketing aims for profitability and that should be a priority for everyone who is indulging in this.
The franchise that a company is giving has all the responsibilities that are mentioned and all the terms and conditions that should be followed by the franchisee.
This field is growing at a rapid pace and is emerging with new opportunities and will give a good return if invested into it.