Pharmaceutical sector in India has performed excellently in the past few years. Therefore, it has opened many new opportunities for career and earning.
India is a huge marketplace as well as a manufacturing hub for a wide range of generic medicines and vaccines.
Therefore, many business options have emerged in the pharmaceutical sector. Among various business models, pcd pharma franchise is the foremost choice.
First, let’s understand what a PCD Pharma Franchise is.
PCD pharma is a business model in which medicines are distributed based on a franchise agreement between the parent company and its distributor.
The full form of PCD is Propaganda Cum Distribution. In the business model, the distribution happened without the involvement of the field team of the parent company.
This business model is different from the generic and ethical chain of pharmaceutics.
In the ethical model, business promotion is handled by the parent company.
In generic models, there is no brand name linked to it. So, they don’t require promotion.
PCD Pharma Franchise Model – Functionality
In a PCD pharma franchise model, there is a monopoly agreement between the buyer and the seller. A geographic area is allotted to distributor where promotion and distribution are carried out. If any violation happens, then there may be a cancellation of their franchise by the parent company.
The best pcd pharma company promotes the products to the designated area. Doctors and retail counters in that area recommend the products to buyers and ensure a long-term profit. The work structure makes PCD a safe model. Also, it has a higher revenue generation ability.
Requirements to launch a PCD Franchise model
First, you need proper documentation to set up a pharma franchise model. You need a drug license issued by authorities.
Since the medical sector is very sensitive and it has a direct impact on the health and well-being of a person, licensing and regulation are very important.
Another document is a GST certificate, which is required for PCD business. It ensures that the company is paying tax as per the law of the land.
How to pick the right PCD company?
The Pharmaceutical sector opens a long list of choices for launching a PCD franchise business. What is important is that the entrepreneur has to be aware of the details of the PCD business. You can pick the right company according to your requirements. You should check for companies that have the best products and services.
One critical aspect is to pick the right range of the product. The right filter will give you the best product catalog. According to market experts, a company with more than a thousand products is the right choice to be a PCD franchise.
And finally, you should not forget about the product quality. Since a PCD pharma franchise business is product-based, the overall revenue will depend on the quality of the product. Before signing the contract, you should ensure that the company has products approved by agencies like WHO, GMP, GLP, ISO, and so on.
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