Pharma Franchise – A New Way to Rise In The Pharmaceutical Industry
Propaganda cum distributorship or PCD in short, has been a buzzword in the pharmaceutical segment in India for quite some time.
In the past few years, India has seen a tremendous growth in every sector; the pharmaceutical sector is also not an exception.
At the same time, the cost pressure has been driving entrepreneurs up to the wall. In such situation, PCD or pharma franchise emerges as the ideal business module.
The rights for marketing and distribution are given to a business group or a distributor or a professional by the pharmaceutical manufacturer in the PCD model.
Thus, the franchise owner is responsible for marketing and selling the products.
PCD model is facilitated by the pharma company
Once the PCD agreement is signed, the pharmaceutical company provides a variety of marketing and promotional inputs. It makes the things simple for the franchise owner.
Visual aids, product cards, brochures and details, working bags, reminder cards, catch covers and a variety of other stuff is provided in ample quantity.
Visiting cards, diaries and writing pads marked with the company name and logo are provided to increase the visibility of the product and brand.
Who can reap big business benefits from this model?
Anybody who has the in-depth experience of pharmaceutical market is the right candidate for PCD model.
Typically, a medical representative who is working in the field for a few decades and has established an excellent network of doctors can step into entrepreneurship through PCD.
He can leverage the network for generating revenues.
Choosing the right company is the only critical aspect of the whole business. Approach a sound company and negotiate the monopoly rights.
Once the formalities are over, the sole distributorship is granted by the company. It is up to the PCD owner how enthusiastically he works and grabs the profits.
How to choose the right company?
Yes, it is a critical factor indeed. Before you sign off the PCD agreement, look into these vital aspects first:
- Check the existing market presence of the company.
- What is the quality of the promotional material? Is there enough variety?
- Is the company carries accreditation?
- Is the quality of the product(s) satisfactory?
- Is the product availability up to the mark?
- Is the company known for good customer care?
If you are satisfied with all these aspects, then there is no issue in entering the business of pharmaceuticals through the PCD route.
Is it a profitable proposition?
Well, signing a PCD pharma franchise could be a grand proposition from the profitability perspective. Since it is like owning a personal business, the more efforts one puts in, the more benefits achieved.
Depending on the capability, capacity and network; one can earn huge money. If the average turnover is 100,000 in a month, then the profits can be 35000 or so. These are ballpark figures. Actual figures may vary depending on external parameters.
By using the modern technology, pharmaceutical companies provide innovative PCD opportunities today. PCD brings a total transformation in the pharma business in India.
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