What Are the Points to Keep in Mind before Selecting the PCD Pharma Franchise?
The pharma companies are targeting to increase their market reach up to different parts of the country and world. For this, they are employing business strategies like propaganda cum distribution (PCD) franchise in order to attain business expansion. The result of PCD franchise proves beneficial at certain levels. It not only helps in the growth of the business but also helps the unemployed individuals to set up their own business.
Pharma companies are leading sector in employing PCD franchise. The pharma products need to be distributed amongst various consumers on-time and to reach more consumers.
The choice of the right pharma franchise is very important. You would not like to invest your money into a company that is in its declining phase. Large-scale pharma companies are in search of individuals to provide them monopoly rights over distributions and sales. The returns and expenses are borne by the franchise holder and thus, it is important to review some essential aspects of the PCD pharma franchise.
What are the points that need to be taken care of while choosing the pharma franchise?
The first and foremost points that need to be taken care of are –
- The products’ quality. It is necessary to keep a record of the products that are being offered for marketing and distribution by the company. Selling a product that is not liked by the consumers is absurd. Thus, it is highly recommended to authenticate the richness of the product quality. The endorsement of the DCGI (Drug Controller General of India) can also provide sufficient information about the realness of the products.
- The need of consumers. While setting up your franchise in a target area, research becomes an essential tool to understand the needs of the consumers. Selling a product that is not used by the people in that area will cause you greater loss and would not even generate enough sales.
- Rights of distribution. The monopoly or distribution rights provided to you by the company authorizes to sell their products at your store. One should also ensure that the target location is free from other competitors.
- The stocks are refilled within time. It is the responsibility of the pharma company to ensure that the stock doesn’t run out. Easy availability of the products by the pharma company would be helpful in managing the stocks in no time. These points need to be cleared out by the company beforehand. The business gets hampered when the stocks are not available. Keep it as a clear point at first place.
- The assortment of products available in the company.The range of products holds a greater value in the market. The individuals opting for the pharma franchise must check for the range of products available in the company and whether it suits well with your expectations. Select a company that provides you the expected range of products.
There are other factors that must be considered as well. Like, –
- The selection of vendors for the PCD pharma franchise and their expectations.
- Certification and approval by DCGI and government bodies.
- Conditions laid by the pharma company for providing PCD franchise
- Customer feedback forms
- Marketing aid along with the desirable conditions.
Checking upon all of these points would surely help you out in choosing the best PCD pharma franchise.