The pharma industry has been very lucrative and profitable in India. There has been phenomenal growth in the market capital because of increasing awareness of healthcare and better medical facilities.
It makes various business models successful and financially beneficial. One such model is opening a pharma franchise.
In this model, the PCD pharma company permits the franchise to distribute the products and also gives them the product merchandise license.
It is assured that the partnership becomes successful by following strict quality assurance throughout the contract period.
The pharma company also gives promotional material to the franchise partner. This is in accordance with the interest, vision, and imagination of the consumer. The give-and-take relationship creates a powerful bond.
Reputed pharma companies like Fossil Remedies are running the model successfully and adding their business worth along with their franchise partners.
Why is PCD pharma one of the fastest-growing sectors in India? Here are some reasons that are making this model popular.
It is a high-margin business
PCD Pharma’s model is different from the conventional business models. It doesn’t need broad market coverage.
The franchise partner can remain focused on the exact therapeutic area. This specialization increases loyalty and a higher probability of repeat prescriptions and customer retention.
This business model gets benefited by government policies
The government of India is keen to support and promote domestic production of medicines. It wants to make healthcare more affordable. Hence, it is making policies that are helping PCD businesses to grow at a faster pace.
Also, there has been a surge in preventive medical care in recent years. People are more cautious about health and fitness.
Thus, the level of spending Indians on food supplements, multivitamins, herbal medications and preventive treatment is increasing every year.
This is a pathbreaking change that has helped the pcd pharma greatly.
PCD franchise partner gets support in branding and advertising
PCD pharma franchise partners get promotional support from the pharma company. This support is comprehensive, e.g., marketing promotional material, sample kits, gifts, digital marketing support, and so on.
This is especially helpful for new franchisees who are not in a position to spend too much on advertising and brand promotion.
Sustained product demand
Big pharma companies make established products that do not have seasonal or trend-based demand. Rather, these products have a consistent demand throughout the year.
Thus, becoming a PCD Pharma franchise partner is beneficial. It brings a steady business flow and higher profitability regardless of the current market situation.
Scope to extend business in the rural market
The rural market in India still has a lot of scope for expansion. PCD Pharma business in India has better prospects because they will have minimal competition and an opportunity to build unparalleled customer retention.
Becoming a PCD pharma partner doesn’t need big infrastructure or large working capital. It is possible to launch the business with limited resources and operational expenses. This is the reason, more and more pharma graduates are entering the business by getting a pharma franchise license.
Also Read:
PCD Pharma Franchise for Doctors: A Growing Business Trend in India
How To Find WHO GMP Certified PCD Pharma Companies In India?
