There is no doubt that the pharma franchise business has gone up to the highest level of popularity. This particular industry is all set to earn a stable profit no matter what the economic condition. The reason is with time, the demand for quality medicines and healthcare services is increasing rapidly. So, most young people are now looking forward to starting their careers in this particular sector.
But when it comes to the process of starting a PCD Pharma Franchise Company in India, they face a lot of confusion. Well, there is nothing to get confused about it. The entire process is quite easy. Even though it may take time to get final approval, understanding all the requirements can make it comfortable for you. In this useful article, you will get to know about who can start a PCD pharma franchise and what are the requirements for this.
However, before diving deep into that, let’s know the difference between the pharma franchise and PCD pharma franchise.
Pharma Franchise Vs. PCD pharma franchise
- Talking about the pharma franchise, the allotted areas will be much bigger. Besides, there can be a high level of sales target and initial order. Such business requires a higher level of eligibility as well as investment. For example, to start a pharma franchise, you must have a good designation such as a pharma marketing manager with more than ten years of experience. Besides, you must have the capability to invest around Rs. 5 lacs.
- Coming to the PCD Pharma, here you will get lower initial order, lower sale target, and the investment is also quite low. This type of business segment is quite suitable for pharma retailers, wholesalers, distributors, medical reps, and more. If you are one of them, then go on and apply to start for a PCD pharma Franchise in India now.
Experience and qualification requirement for PCD Pharma Franchise
Well, all the business needs a person with years of experience. But the PCD franchise structure follows a business venture that attracts those having not much of experience or qualification but have a determination to enjoy success. A PCD pharma franchise firm generally considers two crucial things. These are:
- To start a PCD pharma franchise company, you need to have at least 3 to 4 years of experience in marketing and sales of pharmaceutical products. It will be good if you are working with a reputed pharma company.
- In general, PCD companies don’t ask for a higher qualification. But some PCD pharma companies to offer to the franchise may ask for a 12th or SSC certificate from a reputed institute
Registration documents for PCD pharma franchise
PCD pharma industry is considered as a strict industry. After all, it consists of people’s lives through medication and drugs. Before starting a franchise unit, it is mandatory to obtain all the required licenses and registration. So, those who don’t have much knowledge about all these may face a lot of issues in this. However, here is some information about the documents that you have to obtain to start a PCD Franchise Company. So, here are the documents:
- You need to obtain the drug license number. For this, you may need to spend around Rs. 5000. However, the cost of getting a license can vary from one state to another.
- Furthermore, you need to get your TIN- Tax Identification Number. This may cost you around Rs. 4500.
- To run a PCD Pharma Franchise, it is mandatory to get an FSSAI registration certificate. For this, you need to pay Rs. 100 every year.
- You need to pay for the product trademark, and that is one type of govt fee. The cost to get the certification trademark is Rs. 4500.
- Don’t forget to the GST- Good and Sale tax. Without this, you can encounter with legal issues.
Mandatory requirements to become an authorized PCD Franchise dealer
There are two important things that are mandatory and quite crucial for you to get. One is a drug license, and another one is GST, as mentioned above. You need to register on these networks to make your franchise unit functioning. The government of India has laid down some strict guidelines to get these licenses. You can obtain the licenses from:
- State Drug Standard Control Organization.
- Central Drug Standard Control Organization.
Get to know about the investment required to start your PCD Pharma business
Even though the PCD pharma franchise business model requires a lower amount of investment, you should ensure that you have sufficient capital to keep the unit running smoothly. Talking about the minimum capital requirement to start a PCD franchise can vary based on the pharma company you choose. However, you can start at Rs. 10,000, and it can go up to Rs. 4 lakhs.
PCD is a small model of pharma franchise that offers small batches of drugs and medicines. So, here the investment is quite low and can be offered by various pharma companies throughout India. However, it will be good for you to have around Rs. 11 lacs as an initial investment.
There are some PCD Pharma Companies that offer loans or credit facilities. So, if you are a little short in your budget, then choose a company that can provide your support during the bad times.
Let’s have a look at the procedures to start a PCD pharma franchise
From the above-mentioned information, you must now have a clear idea of who can start such a business. Now, let’s discuss what the steps that you need to follow to get started with it are.
- Choose the location for your franchise unit.
- Choose the PCD Pharma Company where you to obtain your franchise.
- After that, ask the selected companies whether they accept any franchising.
- If they are vacant, then go on and finalize the deal with the best pharma company.
- Now, obtain all the required documents and licenses.
- That’s it; you are now all set to run your PCD pharma franchise company.
So, now you have a clear idea about who can start and how to start a PCD Pharma Franchise. Go on and get ready to enjoy the benefits of doing business in a developing industry.