How to Start Pharma Franchise Business in India?

India is not just the third-largest country that manufacturers pharmaceutical products worldwide, but also a vibrant, large market for pharma products as well.

And to add to it, India is also regarded as one of the leaders in the field of medical and pharma research also.

The Pharma sector is doing excellent business. Therefore, more entrepreneurs are entering the arena. There are many business models in the pharma field, but pharma franchise business has gained a lot of popularity.

Are you a budding entrepreneur who wants to do something differently? If yes, then this blog will be useful for you. Here, you will get an insight into how to get franchise of pharmaceutical company?

The Process to Start your Own Pharma Franchise Business

It is possible for a person to launch a pharma manufacturing business also if he has an in-depth knowledge of medicines and experience in the pharma field. And, of course, sufficient funds. Before launching the business, a few licenses and certifications have to be gathered. They are mandatorily required and can be obtained from government authorities.

But these hassles are not there with a pharma franchise company in India. It is the lightest, easiest, and more profitable business model.

Know About PCD Pharma Franchise Business

Pharma PCD (Propaganda cum Distribution) Franchise means authorizing the rights of distribution and marketing on at monopoly basis by a pharmaceutical company firm to a Pharma distributor to use the brand name on behalf of the pharma company.

The process begins with a lot of research and study. First, you need a list of the best pharma companies that want PCD franchise partners.
You should check the company history, list of products & services offered by it, the distribution network, and information of existing franchise partners.
You need to take an appointment with the approved authority and inform them that you are interested.
Discuss all terms & conditions at length.
If there is any FDD document, or franchise disclosure document, then ask for that.
You will need a good lawyer to understand the finer aspects of the terms and conditions.
Make a payment of franchise fees per the contract.

Documents needed

A GST No.
TIN
Drug License No.
Pharma drug Licence issuing authorities:
Central Drug Standard Control Organization
State Drug Standard Control Organization

Once you get the Pharma Franchise, you can open your own retail store. In your Pharma franchise company, you can make business independently. You can decide your growth path.

It takes time to be part of the top pcd pharma franchise in India, but once achieved that the sky is the limit.