As they say, it’s never too late! If you want to own a self-operated business, the best time to start is now! With the number of nuclear families exponentially increasing in India, many people are thinking of being their own boss so that they can manage their work and family in their own style. However, the thought of lacking in resources, having insufficient financial support and lack of experience makes many of them step back.
For all those who are thinking this way, there is some good news! The market offers numerous options to those who want to own a home based business. One such option is the PCD pharma business. A pharma franchise company is the one that owns rights of a pharmaceuticals manufacturing company to distribute and sell its products in a particular area. It is just like a drug manufacturing company is giving you the responsibility to market their products (of your choice!) in your own way.
Here are a few reasons why a PCD pharma franchise business is a lucrative option for new entrepreneurs:
It is a low-cost franchise business. You don’t need a huge financial backup for the startup.
You don’t require a degree in the pharmaceuticals or biotechnology field for this business.
You neither need a corporate office space nor high-tech infrastructure for your staff.
All that you need is a team with good marketing skills. With time, you will get better at it.
Read on to know more about where to start from:
One of the prime factors on which the success of your pharma franchise business depends is exploring the markets. This will provide you vital information like
- which pharma company is a trusted brand among the consumers
- which products are in great demand in markets
- which markets have great demand and less supply for a particular class of medicinal products
- which markets offer less competition and more opportunities
It is very important to choose the right brand, products, and market.
For a good start up, you need a team of skillful and enthusiastic marketers who are ready to give their best shot. They would need to look for the government hospitals, private clinics, and distributors in the market that they are targeting. While some companies provide promotional materials and gifts to franchises if not, the franchise company will have to get their own.
Another important thing to obtain is a license for a supplier. Based on the rules set by the state government of the region, a license is obtained for supply and distribution of drugs. As a franchise company, you must only follow the ethical ways of marketing as the government has an eye on the unethical drugs suppliers in the market.
Besides, a pharma franchise company should also possess a warehouse with controlled temperature and humidity and efficient space for the storage of drugs before they are supplied to the seller or the medical organization.
If you are ready with all this, contact us at Orange Biotech today!