Abstract Book

ABSTRACT BOOK

How You Can Become a Part of India’s Pharma Success?

According to Business Today, the Indian pharmaceutical industry has grown at nearly 12-15%. This rate is much higher as opposed to that in the European and US markets. The Indian pharma market’s massive success is known and commended all over the world. 

It has become the third largest globally by volume, and it is safe to say that there is more success coming in the future. Many young entrepreneurs and business persons are actively joining this industry to take advantage of this great opportunity. 

However, you may feel lost as to how you can do that. Worry not, in this blog, we will tell you all about working with the best PCD pharma franchise company in India. So, keep reading to know about the PCD business model and how you can own a franchise of your own with minimal investment! 

So without any further ado, let’s dive into it!

How to Start a PCD Pharma Franchise in India 

Getting a PCD pharma franchise is easier than you would imagine. First, let us understand the model better. When you get a franchise, you get the rights to market and distribute the products of a company in a specific area. Nobody else would be allowed to do the same, thus making you the sole seller in that area. 

The most common example of a franchise is fast food restaurants. For instance, McDonald’s is available in many countries. Any local outlet near you would also be a franchise, and you may have noticed it is the only one in that area. 

Similarly, you can get a Vivaceutical franchise to become the sole seller of high-quality products from a WHO, GMP, and ISO certified brand. Wondering how? Just follow the steps mentioned below!

Understand the Requirements 

When starting a new business, it is important to understand the requirements. Fortunately, you do not need a professional or educational healthcare background to start a PCD franchise. All you need is a little investment – 10,000 INR to initially stock up on the products when you source them from the best PCD pharma franchise in Chandigarh.

Besides this, you would also require the following documents to get a pharma franchise:

  • Tax Identification Number 
  • Drug Licence Number
  • GST number

Once you get these documents, you can approach a PCD pharma company. It is important that you pick one with an active customer service line, so you can reach out to them in case you need it.  

Analyse the Product Range 

There is a high possibility that the company you choose to source your products from has a large number of products. You can choose to get them all, but it would be best to stock up on the ones with the highest demand in your area.

To find out which products will sell the most, you need to be patient and perform market research by:

  • Identify your target audience
  • Understand what they have demand for 
  • Do something that attracts customers to you- in the PCD model, monopoly helps you gain and retain them
  • Form a marketing strategy 
  • Study how each product performs

Now all this may sound complex, which is exactly why you must perform thorough research before you decide on the company to work with. PCD companies help their franchise partners with marketing and forming connections within the sector.

Apply for a Franchise 

After you have gained an understanding of how to find the products that should perform well, gathered the initial investment and chosen the PCD company, all that’s left is to approach them. 

The company should explain the whole process to you and come up with an agreement that works in favour of both parties.

Final Thoughts 

The PCD pharma model is the easiest and most convenient way to enter the pharma industry. So you can go ahead and start a highly profitable franchise with low risk and investment involved. 

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