Pharma Franchise Business may be strange word for common people but pharma franchise is well known word for persons that are related to medicines and pharmaceutical sectors. In old days when India started its new era, Pharmaceutical sector showed tremendous change in India.
Pharma Franchise Business concept totally changed the direction of field and provided the opportunities to small Pharmaceutical companies and pharmaceutical professionals to grow and start their own work.
The word franchise is an Anglo-French word which means “Liberty”. Its an contract between two parties, the Supplier and the Seller. Supplier may include Pharma Marketing Company and/or Pharmaceutical Manufacturing Company, carry and forwarding agent, distributor/wholesaler etc. Supplier may includes CNF, Distributors/Sales Professionals/Agencies, retailers etc.
Generally product investment at stock & new products, promotional inputs and advertisement etc is taken care by supplier end whereas doctor’s expenses, market investment, sales persons expenses etc is taken care at seller’s end. It’s a better opportunity for all the Medical Representatives or pharma marketing experienced persons to take pharma franchise from a reputed company and become a franchise owner.
If we talk about future of franchise in pharmaceutical sector, franchise business is growing – if we roughly say, one pharma franchise company has launched daily. But with growing pharmaceutical sector it will be not so easy for PCD’s companies to maintain their growth. Increasing strictness with new policies, DPCO,and amendments of law makes life for Franchise companies (PCD) more miserable as compared to before 2010 era.
In recent time, pharmaceutical sector are at changing state. In which side camel seat, no one knows. Pharma Franchise (PCD) business has its own pro and cons. But one thing is sure, pharma franchise is only option for small pharmaceutical companies and enterprises to compete with multi nation companies.
Being a franchise owner a person will enjoys the benefits of :
Low Marketing Cost
Low Administration Cost
Own work at small investment
Low risk and More Profitability
Sharing of Responsibilities
Simple Distribution Channel
Easy Availability of services
It’s necessity at current time to save the future of small and medium scale Indian Pharma Companies.