How to Choose A Good PCD Company – Want to take PCD pharma franchise? Don’t know how to choose a good one for business? Looking for a good business opportunity? Want the best company? Want to know how to choose a good PCD company for yourself. Want to know the tips to choose pharma franchise company then you are on the right place in this content we are sharing some useful information about PCD pharma franchise company. The potential industry of pharmaceuticals is the great business destination of serious investors.
The pharmaceuticals industry is one of the fastest growing domains worldwide with an estimated cost of more than 1 trillion US Dollars. India is one makes up 20% when it comes to a volume which makes it the third largest worldwide. Now, the Indian domain targets 55 million US dollar by the end of the year 2020. Thus, investment here is surely a great deal. But the question arises how to choose a good PCD company for pharma franchise ? No need to be baffled, we give you straight answers to every of your query.
What Exactly is PCD in Pharmaceuticals Industry?
The abbreviation term, PCD means Propaganda Cum Distribution. This a new concept which allows a third party to promote the products of the franchising company. This is done when the pharma company does not appoint a medical representative or sales person on the pay role. Thus, the companies are able to propagate their presence in different regions of the nation through already presented individually to a group of persons.
What Are The Advantages of Joining PCD Pharma Business?
PCD Pharma franchise is a great way of availing greater benefits which make it one of the successful business models currently. It is ideal for small to medium pharma companies and especially the individuals who cannot afford large investment planning.
The following are the benefits of joining a PCD Pharma Franchise business:
- Genuine investment planning for 3 lakhs to 4 lakhs.
- No qualification compulsory! Your experience will be the basis.
- Registered pharmacist, dealers and medical representatives can also apply.
- The Minimal risk involved.
- Good Return on investment.
- Marketing inputs offers are the greatest benefits.
List Of Points To Consider For A Selecting Good PCD Pharma Company
So, you are in search of a potential company but do not know how to choose a good PCD company? Read the following points to make the best selection.
Legal Identity:
A good company will always be a reputed one and bound in legal terms which are a safe play for selection. When a company is legally certified and licensed by high authorities, then it is a sign that you are investing in the right place. Which certification and license are required to choose the best? Here we go!
- ISO 9001:2008 Certification for quality management system.
- World Health Organization (WHO) and Good Manufacturing Products (GMP) for the manufacturing units and plants.
- Drug License No. (D.L.) Number and Tax Identification Number (TIN) is compulsory.
Choose a company which owns its own warehousing and manufacturing units & plants for the smooth working of your business.
Search The Audits & Consider The Reviews:
Hundreds of companies already exist! The main thing you should know the right place to invest which can help you garner a good return on investment and profits in near future. The main motive behind the business is profit and growth which a company should offer. Here are points how to know it:
- Check the last 5 years Balance Sheet.
- It is best to know the past year’s profit capability & ROI of the company.
- Check the goodwill of the company which states the value of affect company in monetary value. A reputed PCD company will always have good goodwill.
- Never forget the reviews of the people who have worked with the company who are the true reflection of the service of the company.
Range of Products Being Offered
You are going to do the business of medicines. Thus, a good list of products is very important. Besides the number, always be confirmed about the demand within the area of your monopoly. It is good to take small statistic information about the demand to be aware of the demand.
The basic certification you should look for are:
- Food Safety & Standard Authority of India (FSSAI)
- Drug Controller General of India (DCGI)
- Food & Drug Administration (FDA)
See the availability of the products which are seen on the list but many times are not available. This can effect your business in the long run.
Differentiate on Offer Basis
Every company offers some or the other benefits which make them different from each other. The benefits can be in form of the following:
- Promotional inputs like bags, diaries etc.
- Bonus
- Gifts to doctors.
- Much more.
Conclusion:
PCD Pharma Franchise is good business but being a medicine business, always be conscious about the quality and durability of the products. These will help you in the long run. Secondly, see the investment planning and compare with your profit margin which you can expect out the venture. I hope the article was of use to you.