Starting an own business can become on of the biggest tasks one can endure but can also be turned as the simplest decision if one can already decide which way to go. Starting a business taking PCD Pharma Franchise can make you arise different questions in mind and those can come out to be:
- Being new to this world?
- Is sales experience required?
- What can be the risk and outcomes?
- What procedure is to be followed?
- What company or brand to go for?
What is required for growth in Pharma in India?
Indian Pharmaceutical Industry being more than US $ 36.7 billion according to sources in 2016 and still expanding at its extent of growth rate (CAGR) of 15.92%.The industry is expected to be blooming up to the mark of US $ 55 Billion by 2020.
The Pharmaceutical industrial sector is one of the least affected from the GST and sales tax implementations and therefore stands out to be one of the best companies for establishing a business opportunity. Catering to the needs of masses and fulfilling it with serving medicines. Drugs and several other related products that stay in demand on a rotation basis.
Some of the Points to be taken no consideration before stepping into such business opportunity are as follows:
Qualification and experience required:
- Businesses always ask for experienced head. PCD Pharma format does not adhere to any particular format but depends upon the willingness to create the market for sale of penetrate the existing for better opportunities. Still as per verification some of things are taken into account.
- Minimum 3 or more year experience is preferred in sales and marketing in Pharmaceutical industry with a reputed firm or an organization.
- Any particular qualification is not asked for but he Secondary education as well the graduation might be a question to be asked for in rare cases.
Documentation and Registration required:
Due to involvement of drugs and medicines and other related products there are several restrictions in the industry which are to be verified with licenses and registrations. The same is mandatory in order to achieve a PCD franchise business in association with a reputed Pharmaceutical firm.
Cost of licenses is as follows:
- Drug License number: Rs. 5000/- (varying to state boundaries)
- Tax Identification no. : Rs 4500/-
- (Introduction of GST is subject to changes in tax rate)
Investment requirements:
The investment is always one of the main determinant in any of the business activity and likewise is also one of the main key factor in PCD Pharma business as it’s a regular flow and can be merely started from 10,000 to as much as 4 lakhs and even more if in case. PCD being a lower form of Pharma franchise deals in small segments to package’s targets and investments. The most suggested investment is a starting up with a least value Rs. 1 lakh in order to get the operations going on a regular and smooth basis.
Finding suitable Pharma Company:
After fulfilling all the requirements and the startup money along with the documentation needed. It’s right time to select a good and prospering Pharmaceutical company.
Following are some key noted for finding one:
- Digging deep into R&D of the suitable and growing Pharmaceutical Company along with the competition prevailing in the market
- Taking proper notes of the available facilities, benefits and the marketing support provided from the company end.
- Getting a clear view of knowledge about the monopoly rights to avoid any kind of infiltration inside the working territory.
- Verifying the quality control of the products that are to be sold to the end consumer.
- Checking the availability of the products against the competition in order to achieve the maximum outreach and attain sales targets.
Synopsis:
Getting associated with PCD Pharma business is a very profitable and growing decision . keeping apart all the operational costs such as working expenses, labor, electricity etc. it’s a fruitful decision one can make to practice the efforts and attaining growth in the sector with remarkable profit sharing. Rest depends on the working criteria followed by the firm.
