What Are The Requirements for Taking a PCD Pharma Franchise?

What Are The Requirements for Taking a PCD Pharma Franchise? – Want to start your own business of franchise? Are you new to the business world or the industry? Do you have sales experience and want to start a profitable venture? Want to start a PCD business? What are the requirements for taking a PCD pharma franchise in India? The Pharmaceuticals industry is rapidly growing with consumer, health and hygiene awareness. The Indian pharmaceuticals share a good hand in contributing towards GDP of the country with a share of 5%.

The Indian Pharmaceuticals industry is more than US $ 36.7 billion in 2016 which is growing at a rapid speed of a CAGR of 15.92 %. It is forecasted that the industry will reach a mark of US$ 55 billion by 2020. Investing in a sector which is said to get least affected by the Good and Sales Tax (GST) is the best place to establish a good business. The industry serves the masses with medicines, drug, and products which have good demand round the clock. In this article by Pax Healthcare, we will discuss the requirements for taking a PCD pharma franchise in India. So, here we go!

What Are The Requirements for Taking a PCD Pharma Franchise?

Qualification and Experience Requirement for Pharma Franchise

Every business needs an experienced head. PCD formats follow a business venture for those who do not have many qualifications but the determination to achieve well through their sales target. The success of a business if surely dependent on the currency flow but experience can take it to another level. A Pharma Franchise firm usually looks for two things:

  1. Minimum 3 to 4 years in sales and marketing field of pharma products. It is best if it is done in a reputed Pharma Company.
  2. PCD Companies usually does not ask for qualification but some may ask with a minimum SSC or 12th done from a recognized board or be a graduate which is rare in many cases.

Registration Document assigned For PCD Pharma Franchise

Pharma industry is quite a strict industry as it involves lives of people through drugs and medications. Various licenses and registration have been made mandatory in order to achieve a PCD franchise business from any pharma company. The documents which you will be requiring to submit to the company are as follows:

  • Drug License Number: Rs5000 which may vary from state to state.
  • Tax Identification Number (TIN): Rs4500.

The introduction of GST will make changes to tax which will affect your business. Know more about it as it has abolished a number of taxation series into one i.e. GST (Good and Sales tax).

Investment Requirements to Be Fulfilled By You

Investment is crucial and a regular flow is even more important. The minimum requirement to attain a PCD franchise varies from company to companies. You may start with mere Rs 10, 000 to as far as 3 to 4 lakhs. PCD is a miniature form of pharma franchise offers a small batch of medicines and drugs. Thus, investment is low and can be cheaply offered by different companies across pan India. It is still an advisor to have at least 1lakh as a start-up money to pay off the bills till the business gets smooth.

Tips To Find the Best Pharma Franchise Company for PCD

Now that you are ready with everything! You have experience, documents, and money but wait; you cannot go further without a good pharma company by your side. Here are some good tips to choose a good PCD company for PCD franchise business:

  1. Do deep online and offline research about different PCD companies.
  2. Learn about their offerings and benefits like the marketing inputs, gifts etc.
  3. Are they providing monopoly rights or not? Monopoly helps you rule over the zone you are allotted with sales under your control.
  4. See the quality assurance and quality control measurements followed by the company.
  5. Are all the products available? It would be embarrassing if you run out of demanding medicines and the company fail to provide though they have it in their list of offerings.

Conclusion:

PCD pharma business is a good way of earning handsome profit. Don’t forget your rent, electricity, labor etc cost which area requirement of every business. Pax Healthcare is a reputed GMP, WHO and ISO certified Pharma Franchise Company in India which offers a wide range of medicines and pharma drugs across India at genuine rates.