Are you planning to start your own Diabetic PCD Franchise Company? - PowerPoint PPT Presentation

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Are you planning to start your own Diabetic PCD Franchise Company?

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If you are starting fresh, initially take the product on franchise support from a company with their manufacturing unit. The size, shape, color, quality, and different output parameters would be the same and it would not be a difficulty for all of your doctors. – PowerPoint PPT presentation

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Title: Are you planning to start your own Diabetic PCD Franchise Company?


1
Key Points to Remember Before Initiating a
Diabetic PCD Franchise
2
  • Pharma Franchise is an authorization or right
    given by a Pharma company to an individual or a
    group eligible to carry out all the commercial
    activities related to their products in the
    market by allowing them to carry out the
    company's knowledge products, trademarks, brands
    on a monopoly basis for a specific area of their
    choice with some agreed terms and conditions.

3
Who Can Start a Diabetic PCD Franchise Business,
And What Is The Maximum Investment Required?
  • This business provides high profit and growth
    opportunities with minimum investment. You can
    start a business by placing small orders of
    Rupees ten to fifteen thousand also. Still, you
    have to keep the reserve money rupees to approx
    with you for the smooth functioning of your
    business at the initial stages for investing in
    doctors, products, market, and branding or
    promotions. 
  • Experts suggest that you start a diabetic PCD
    franchise company by taking full monopoly rights
    in your area to avoid any disputes in the future.
    By this, you can completely concentrate on your
    sales.

4
Which Products Should You Buy Initially?
  • You must do Market Research first in your area
    and try to find out what your doctors are looking
    for and start your business by taking care of
    those products only. Never start with one or two
    products as it will be difficult for you to
    generate good sales and earn profit margins. To
    generate maximum sales, you have to keep all the
    product range. 
  • What are the documents required to start the
    process?
  • Not Much Documentation is required. You have to
    provide a GST Number and your retail or wholesale
    Drug License number. 
  • What profit margin would you get out of this
    Pharma Business?
  • Your profits and your margins all depend on the
    product to product. Some products will give you a
    high margin, and some will give you less margin.
    To get maximum profit, you have to keep a wide
    range of products with you. Once you start this
    business, you will get new contacts plus good
    business relations with your doctors and an
    established market of your products.

5
Are You Planning To Start Your Own Diabetic PCD
Franchise Company?
  • But confused about getting your products
    manufactured or taking the products on a
    franchise or PCD basis, this article is for you!
  • If you are starting fresh, initially take the
    products on a franchise basis from a company with
    their manufacturing unit. So, the advantage would
    be that you are not bound with the investment.
    You can take any of the products from a basket
    depending on the requirements of your doctor. As
    soon as the sales start increasing, you can get
    the particular brand manufactured in your brand
    name from the same manufacturer. 
  • The size, shape, color, quality, and other
    product parameters would be the same, and it
    would not be a problem for any of your doctors.
    So switch over from that brand to your brand.

6
  • 1. The first difference is the ownership of the
    brands.
  • The first and foremost difference between the two
    systems is the ownership of the brands. If you
    get your brands manufactured, the ownership is
    with you, and you can market it anywhere in the
    country, and you can export it. 
  •  
  • On the contrary, if you get the products on a
    Franchise basis, then the brand name doesn't
    belong to you, and you can market it only in a
    limited committed area.
  • 2. The second difference is that you have your
    own choice.
  • The next difference is that if you take the
    products on a franchise or PCD basis, you have
    the entire product basket to choose from, which
    means you can have different doctors prescribing
    your product or different doctors ready to
    prescribe your product. Still, a doctor might
    have their requirements for different medicines,
    which is impossible for a starting company to get
    all the medicines manufactured. 
  • So in the franchise portfolio, there is a large
    basket where you choose your product depending on
    your requirements. But if you get your products
    manufactured initially, it is not convenient or
    feasible to get all the 200 and 300 products
    manufactured unless you have a huge budget.

7
  • 3. The investment in the designing and packing
    cost of the product.
  • The third difference is the investment in the
    designing and packing cost of the product. If you
    plan to get your products manufactured, you have
    to invest in the products' entire packing and
    development cost because the brand belongs to
    you. Still, if you are taking a product on a
    franchise basis, you don't have to invest in all
    these things. 
  • 4. The fourth difference is the price of the
    product.
  • Another significant difference is the cost of the
    product. The cost of the product on franchise
    business is higher than the cost of the product
    when you manufacture it in your brand name. On
    franchise, there is no quantity boundation you
    can take products according to your needs. 
  • But if you go manufacturing your product, there
    is a minimum order quantity. So, the price of
    manufacturing products in huge quantities is
    lower than the price of franchise products. 
  • 5. The fifth difference is the total investment
    in the business.
  • Another significant difference is the total
    investment in the business. If you bring your
    products, you have to spend a lot of money on the
    products depending on how many products you want
    to get manufactured. But in a franchise system,
    you can provide the medicines in very, very low
    quantities depending on your exact requirements
    without having to block your lot of capital.
  • So if you are planning to initiate your
    own diabetic PCD franchise company, you have to
    consider all these factors before deciding
    whether you need to get your products
    manufactured or take them on a franchise
    business.

8
Conclusion
  • The career of 'Business for all Medical Sales
    Representatives' like people in India is that
    people should get tremendous career growth
    and diabetic PCD franchise offers enormous
    profit.

9
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