Pharmacy is a rising industry in the current crisis. Health care is gaining more attention than ever before. Pharma Franchise Companies or the Propaganda cum Distribution (PCD) companies constitute the backbone of the pharmaceutical industry in India. There are reasons why people opt for it.
It’s tremendous scope for new entrepreneurs who want to set their foot in a rewarding business and play a vital role in the health care sector. So if you are one of them, here are some tips for choosing on how to choose a PCD Pharma Franchise Company In India to gain maximum profits.
Reputation Of The Company
It is important to know about the goodwill the company has earned through the years. The safest way to choose a company is to check how many franchise partners they already have. A higher number would indicate that more people are trusting the company.
Financial Management and Assessment
An elaborate business plan is required to start any company. Decisions that help you make most of the profit should be the ultimate goal. So choose a company that gives greater scope for that. A good PCD Pharma Franchise Company In India will be transparent about all the costs involved before making a deal.
A lot of things need to be verified before making that big investment.
- Product quality – Is it better than the other companies in the same niche? It is better to choose a company that has established expertise in the field.
- Certifications and Licensing – Is it WHO GMP certified? ISO is also a certification that gives assurance of standard quality. If it’s a medicine and drug developer, then a GLP certificate would be a plus point. For Food supplements, an FSSAI license would be required
Stock Availability – Are they consistent in their supply? Compare the manufacturing capacity between 2-3 companies. Also, consider the delivery/dispatch time.
Customer Support – A responsive and strong support system from PCD Franchise Company will help you go a long way in establishing your business.
Pharma products branch to different categories like drugs, surgical equipment, medical devices, food, dietary supplements, ayurvedic products, medical cosmetics, etc. As a beginner in the field, one can choose a profitable niche, requiring less investment, fewer regulations, and closest to their values. Thorough market research would be needed to analyze the demand and also ROI on each product.
Terms and Conditions
It is crucial to go through all the terms and conditions of the PCD Pharma Franchise Company before making agreements.
- Minimum order quantity?
- Do they give 100% monopoly rights on a specific area?
they give their new products for trial before taking a bulk order?
- What about the unsold products or the ones that crossed their expiry date?
- What promotional products do they give?
Hope these points helped you. PCD pharma’s business model is gaining popularity as it turns out to be convenient for both the supplier and the distributor. If you choose the right Pharma Franchise Company, it will take your success to great heights. For the above information, all credit goes to the Best Pcd Pharma franchise company In India | Lezaa Biotech.