A Pharma franchise is a firm that has a right to sell the products of a pharmaceutical company in the market by offering them a charge in return. The business of Pharma is rapidly increasing in India there are some Best PCD Pharma franchise companies in India with an annual turnover of more than 10 cr INR. Here both companies get the opportunity to grow their business. And also the products become available for Pharmaceutical retailers because they smoothly get all the stock from Top Pharma franchise companies in India. Pharma Franchise has trademark rights to sell the products of the pharmaceutical company in the region for which they have the license to sell the products.
What is PCD?
PCD means Propaganda Cum Distribution. PCD is a distribution of Pharma products by the Pharma Franchise; it can be an individual, group, or company. They work as a middle person between Drug Manufacturers and Medicine retailers. They take orders from the market and give them to the manufacturing company. The quality and assembling of the item are controlled by the Pharmaceutical company. Only the rights of distribution are given to the PCD Pharma Franchise.
How to open a PCD Pharma Franchise Company?
Licenses & Documentation
Drugs & medicines are hazardous items. Consent from the legal authority and government is required for beginning a Pharma franchise in India. The qualification of the person should be at least a 12th pass, Minimum experience of 2-4 years in the Pharma industry is a plus point. If you are a newbie and want to explore more about the Pharma industry then you can work in top Pharma franchise companies in India for more market understanding. Here is the list of licenses you need before setting up a Pharma Franchise.
Drug license Number:
A drug Licence number issued by CDSCO (Central Drugs Standard Control Organisation). A must thing if you want to start your PCD Pharma Franchise. It costs around Rs 5000 (Price may differ from state to state)
Wholesale Drug License:
Wholesale Drug License is required for storing & selling a product of a Pharmaceutical company, without the wholesale drug license all the activities are considered illegal.
Tax Identification Number
(TIN) Tax Registration: A mandatory document issued by the state government. Pharma Franchise companies can only sell any kind of Drug/Medicine in the market after getting this Licence.
Things included in the tax registration:
- VAT (Value Added Tax)
- CST (Central Sales Tax)
- TIN (Tax Identification Number)
- GST No
- PAN No
- Aadhaar No
Scope of PCD Pharma Franchise
Starting a PCD Pharma Franchise is an excellent option and growth in this sector is inimitable. The graph of PCD Pharma franchise companies in India is rapidly growing. If you are a fresher in the Pharma industry then there will be some challenges for you, but if you have 3-4 years of experience then it is a plus point.
Key points you keep in mind before setting up A PCD Pharma Franchise
- Proper Product Choice
- Brand Name
- Full Business Strategy
- Right Business Location
- Proper promotion & Marketing