How to Start a Pharma Franchise Business in India?

Starting a pharma franchise business in India is a structured process that consists of several steps. It involves compliance with several rules and regulations. Are you an aspiring entrepreneur who wants to make a name in the world of pharmacy? If yes, then starting a pharma franchise business is an ideal way to go about it.

Step-by-step process to start a pharma franchise business

Here are the essential steps to start a pharma franchise business in India.

Step 1: Creating a business plan

• One of the key steps towards starting a pharma franchise business in India is to have a sound business plan.
• Having a crystal clear business plan would serve as a roadmap, from inception to expansion.

Step 2: Planning the finances

• Strong financial planning is of utmost importance when it comes to long-term viability of a pharma franchise business in India.
• Solid financial planning minimizes the uncertainty associated with the rapidly changing market trends.
• Finances should include the cost for the licences and permits, infrastructure and buildings, branding, property, and much more.

Step 3: Choosing a reliable name for the company

• For the pharma franchise business to be successful, choosing a perfect business name is crucial.
• The name of the company directly influences the promotion and branding.
• The name of a company is the initial contact point for customers, business rivals, and staff.
• The selected name should be appealing and at the same time easy to remember.

Step 4: Licensing and registration

For starting a pharma franchise business, registration and licence approvals from various pharmaceutical companies is a must. Some of these include:

• Company registration
• FSSAI registration
• Drug licence number
• Trademark
• GST registration

Some of these documents need to be obtained only once. However, some of them need to be renewed periodically.

Step 5: Selection a business location

• A pharma franchise business owner must ensure that the business location has sufficient space for performing various business activities.
• Also, the location selected for doing business must comply with government regulations.

Step 6: Choice of the products

• Selection of products is vital for a pharma franchise business. Hence, it must be done with care.
• The product selection must be done keeping in mind the ever changing requirements of your customers.

Step 7: Marketing

• Promoting pharmaceutical products through advertising is an effective way of increasing awareness amongst prospective customers.
• Marketing through advertising and promotional materials (visual aids) such as pamphlets, brochures, free samples and others increases market exposure of the pharma franchise company.

A pharma franchise business has all the chances of being a successful business venture, especially when the pharmaceutical field has got tremendous scope and potential at present and in the future. For a pharma franchise business, the main thing that matters is choosing a reliable and trusted pharma franchise company which is profitable. Are you planning to start a lucrative pharma franchise business in India? Kamron Group is one of the best PCD pharma franchise companies in India offering a range of pharmaceutical products, from antibiotics to anti-inflammatory medications.