Pharma sector: List of things to avoid at all costs

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What Not to Do as a Franchisee of
Pharma Companies?
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• Congratulations on becoming a franchisee of a
  pharma company! While you have a list of things
  that you would do as a franchisee and there are a
  lot of people with tips on how to be a good
  franchisee, there are a lot of things that you
  should not do. Here is a list of things that you
  should avoid doing at any cost because this can
  cost you big time.

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Loss of Licenses

• When you become a franchise for a pharma company,
  you are required to have a certain type of
  licenses to distribute or market a particular
  product. You need to make sure that your license
  does not get expired during your tenure. This can
  result in termination of

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Misuse Benefits

• Some pharma companies offer a lot of benefits
  like promotional material, continuous stock and
  supply, etc. It is unethical to misuse these
  items which are meant for promoting the company.
  It is best to not mix personal and professional
  interests.

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Misrepresent Revenues

• You might have franchise of pharma companies
  which are big and would not have micromanagement
  to keep stock of the situation at the grass root
  level. But, the fact is that misrepresenting
  information breaches the contract that a
  franchisee and a franchisor enter.

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Conflicting Vested Interest

• Each company big or small has some interest,
  opinions, standards, etc. and a franchise is
  required to abide by the franchisors interest.
  If as a franchisee, your interests conflict with
  that of the franchisor then you are in trouble.
  It is best to do a thorough research before
  entering into a contract.

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Violate the Explicitly Stated Terms

• When you become a pharma franchise company, you
  have to adhere to some terms and conditions.
  These include having some kind of an arrangement
  to market the product or something along these
  lines. Try to keep up to the terms and conditions
  that you have mutually agreed upon.

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Overlook Ethics

• This point does not only apply to pharma
  franchise but every professional dealing. If you
  think that the product can be harmful for any
  person then do not market or promote that product
  for petty profit. Human life is more valuable
  than a margin of a few bucks.

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• As a pharma franchise, you have to aim at
  maximizing your profit and you might want to make
  use of a variety of strategies like building
  rapport with the doctor, using multiple brands at
  the same time and focus on some for increasing
  your profit. While each of these strategies works
  well in a respective territory, you have to be
  sure that the strategy you follow does not
  coincide with your interest. At the same time, be
  mindful of your competition. If possible, opt for
  monopoly type of franchise that will reap you
  great benefits with considerably less efforts. At
  the end, all businesses have ups and downs.
  Remember to learn from your mistakes and take
  feedback. Evolve to be a better business partner
  and a better franchise.

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Phone [phone]Cell 91 9033028080,
8469228080Fax [phone]
106,Scarlet Gateway,Corporate Road,Opp.Rivera
Antilia,Prahlad Nagar,Ahmedabad-380015Gujarat,
India
www.fitwelpharma.com