Pharma franchise also called PCD – Propaganda cum distributors act like permission or authority that is specifically given to an individual or a group of people by a pharmaceutical company to sell their brand name and their products under them. Commercial activities of that pharmaceutical are also taken care of by this individual or the group of people.
The permission that is given to these people is to sell the name of the pharmaceutical company under them as well as market their product.
Pharma franchise is currently a booming business as many people are taking the responsibility of a big pharmaceutical company and selling their products. Since this business has taken over the market, here are a few things you need to know about it.
The procedure you need to follow while getting a Pharma Franchise
The procedure of getting a Pharma franchise differs from one company to another. But there are some basic steps that you can follow:
- Choose the company and the product that you want to market and sell.
- Send an email or call the company and ask for the availability of the franchise. Calls are always preferable because you will get a quicker response.
- Enquire about the vacancy of a pharma franchise in your area. If yes, then apply for it and get the details for the same.
- Select the franchise you wish to sell for yourself
- Agree with the company and sign all the desired documents
- Start your work for the pharmaceutical company.
Please note that the steps that are mentioned above are some basic ones and do not apply to all pharmaceutical companies. Every company has different steps, rules, and regulations, to select the franchise.
Here are some easier steps you can follow to get the Pharma franchise from 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.
This should be noted that this procedure might take some time as the pharmaceutical company has to reach back to you and your requirements might reach late to the desired company.
If you belong to Chandigarh, then you can look for a pcd pharma franchise in chandigarh and get your franchise for a pharmaceutical company.
Documents necessary for pharma franchise
The two major documents required to get a Pharma Franchise are:
- Drug license number
- GST registration number
The working of the Pharma Franchise system
The system of getting a Pharma franchise is not at all complex. It might take some time for you to understand every process, but it is very easy and you will get a hold of it very quickly. The overall process involves a pharmaceutical company looking for an area to sell its products. Therefore, they hand this job over to a wholesaler and give them legal authority to sell their products and the brand name. This legal authority is called a pharma franchise.
The cost of manufacturing is a bearable expense for the pharmaceutical company. The only difference is that when the company sells ethical drugs, i.e., without franchising it, then they have to bear the manufacturing as well as the marketing cost. But when they franchise the drug, the marketing cost is the wholesaler’s duty.
This is the whole process of pharma franchising and this is how it works. This was the overall process, there are a lot of other small technicalities that an individual or a group has to look into before getting the franchise of a pharmaceutical company.
Important points to remember and precautions you need to take before getting the franchise.
Getting a pharma franchise is a process that involves business and business agreements, therefore, make sure you take certain precautions while getting a Pharma franchise.
Make sure you study about the company before investing your time, money, and your reputation in it. This is because if you buy the franchise of a company, you are the one bearing the marketing cost and selling the product, therefore, make sure you check several times and be sure before getting a pharma franchise.
You should be assured about the franchise you are looking to work for and check whether the documents are in place or not. It is always advisable to take a second opinion so that it helps you in a better way.
Look out for the products that are sent to you. Make sure they are in the right condition because if the products are not in the selling situation, your reputation will be at stake first and then the company.
Pharma franchise is a business that has been booming recently and people who have the knowledge about the market and the way of advertising the product can certainly find their way into this.
The franchise that will be given to you has all the terms and conditions written down and should be strictly followed by the franchisee, i.e. you.
This field is growing at a very fast pace and will become a major business very soon!