Looking to start a pharma franchise? Check the requirements

Are you one of those looking for an ideal franchise pharmaceutical business in India? If, yes, this article will help you out, don’t worry. Seeking the right medicine franchise firm is like looking for an ocean Pearl.

Today, the pharmaceutical industry is growing fast in India as the demand for medicines increases in the market among pharma products. This change in the demand and supply of pharmaceutical products has led many businesses to show interest in the pharma franchise industries.

To set up a strong business, one needs an apt knowledge of its procedure, working style, the procedure to be followed, investment, etc of the company. Many of us may have a question on how to start a Pharma Franchise business, so don’t worry we will direct you in the right direction and will help you to achieve your goals. For this, we need to do in-depth research in this sector and try to know the details about the top pharma franchise companies in India and what does pharma franchise in India is.

What is a Pharma Franchise?

Pharma Franchise engages in the promotion of pharmaceutical medicines or products of successful pharma franchise companies. Here both companies get the business opportunity. Pharma Franchise companies sell their products or medicines with the monopoly trademark, rights, and brand name in their region. And, the pharma franchise associate sells those products to their customers in the market with their mark-up.

What is PCD Pharma

In Pharma Industry, the extended form of PCD is Propaganda cum Distribution. PCD is mainly used for distribution and marketing rights. In simpler terms, the franchise business is known as PCD. The PCD Business is growing at a rapid pace in India, and the reason behind the same is the growth in Pharma Industries.

Pharma companies give businesses franchising distribution rights to professionals, individuals, groups, or distributors. These entities own their business, but the control over the products and trademarks is still in the Pharma company’s hands. So the company that has been given this permission is called a Pharma Franchise or a PCD Pharma Franchise.

So if you are planning to start PCD Pharma Franchise, you have to find the best PCD Pharma Franchise company in India in the pharmaceutical industry and then plan to set up your business.

How to get the license for Pharma Franchise?

There are certain rules and regulations to be followed for setting up a legal business. Today, the demand for PCD Pharma Franchise is increasing. With the rise in demand for medicines, this business has become much more profitable and popular too. However, there are certain requirements to be fulfilled to have a Pharma Franchise License.

There are three types of drug licenses for PCD Pharma Franchise: a retail drug license, A wholesale drug license, and a restricted license for general stores.

Requirements for Pharma Franchise License (List of Documents)

The below-mentioned documents are mandatory to be submitted to the government authority for license application:

• Challan INR 3000;
• Form No. 19;
• Self-attested Educational certificate copies of the owner;
• Self-attested photo ID card of Proprietor (Driving License/ Voter ID card);
• Competent person Documents- Affidavit, Self-attested Educational certificate copies of the competent, Self-attested Photo ID card of Competent (Driving License/ Voter ID card), Experience certificate of competent;
• Blueprint of the structural layout of selected premises;
• Electricity bill of the office place;
• Refrigerator bill copy;
• Covering letter;
• Photos of the proprietor and competent;
• Rent agreement on INR 50 stamp paper;

Steps to be part of Pharma Franchise

To start your own Pharma Business there are some basic steps we need to follow, let’s check them below:

1. 1. Search for the top Pharma Franchise companies in India and write a letter for a franchise proposal asking them about any vacancies for PCD Business;
   2. Once any companies respond, shortlist the best pharma franchise companies;
   3. Ask for free sample PCD pharma products and the price list of the products;
   4. Make a final decision to choose the most suitable pharma franchise as per your needs;
   5. Both the parties need to sign a common market agreement by mutually agreeing to all the terms and conditions;
   6. And, you are ready to start your own PCD Pharma company;

Benefits of Having a Pharma Franchise

Because of different factors, the franchise model is so popular today in the pharmaceutical sector. Let’s go through the Advantages of Owning a Pharma Franchise listed below:

1. High Profit:

   You can earn a good amount of income with lots of hard work and minimum investment;

2. Chance to become your boss:

   If you have a decent relationship with the doctors and dealers around you, these pharmaceutical franchise providers can allow you to become your own boss;

3. Low Investment Cost:

   Unlike other businesses, the Pharma Franchise is less risky and doesn’t require a huge amount to be invested. It is one of the best businesses to be started with a lower capital;

4. Low Marketing Cost:

   The Pharma Franchise companies help in promoting the business by distributing free products such as product cards, visiting cards, prescription pads, and so on;

Finding the right pharma franchise to fulfill all your needs is always a difficult but not impossible task. You just have to keep your eyes and ears open when choosing the one for your company, because, after all, it’s your career and money that counts. For any further assistance, you are free to contact our representative.