1What is a Pharma Franchise Venture?
A Pharma Franchise Venture is one in which a company gives full authority to another person or company and then starts to sell the products under the latter’s brand name. The new company then possesses the products of the original company, although the original company remains the legal owner of the products. The work of the new company that possesses the products now acts as a third party as well as the direct sellers. The pharma business has many scopes like a distributor, chemists, wholesalers, retailers, etc.
2What is the full form of PCD? What do you mean by a PCD Pharma franchise?
PCD is an abbreviation for Propaganda-Cum-Distribution. Franchise means the authority of the company is distributed between two companies, and the right to market is given to a pharma distributor by the pharma company. The distributor uses that companies name/ brand name on behalf of the whole company.
3What is the difference between PCD Pharma and Pharma Franchise?
Both PCD Pharma and pharma franchise are the same. A Pharma franchise enjoys the larger direct business dealings along with the credit facilities. Many PCD franchise come under this umbrella term.
4Is CD (Cash Discount) better or scheme better for the customer?
5What is meant by GR/LR/ BILITY?
GR means goods receipt, and LR means lorry Receipt. These are synonyms for ABILITY, wherein the transporter provides it after the goods have been loaded successfully.
6What is A Draft on delivery (DOD)?
One of the most prominent features that is famous in this field is the Draft on delivery. A customer can pay at the time of delivery by demand draft, which is generated in the name of the company in the bank equal to the number of goods handed over to the particular transporter, for his goods. This facilitates the transfer of goods over to the customer.
7What are the different types of Pharma franchise marketing?
There are two main categories- a single party and a multi-party distributor that works at a much larger level.
8What investment is required to start a pharma company?
The type of investment you should go for depends upon various factors. These include the number of products, type of products, molecule, batch size, etc. The minimum that you must have is around fifty thousand.
9What do you mean by a Third-party manufacturer?
This service refers to the outsourcing of product manufacturing under one’s name or brand. It is the outsourcing of products under the name of another manufacturing unit.
10List of requirements for a third-party manufacturing company
Things that are important to start a manufacturing company are- Company profile, Address Proof, company, address, company Drug license number, Brand name non-resemblance, GST identification number, Agreement for manufacturing, and Packing material printer.
11Who is eligible to get pharma products manufactured at their own brand name?
The holder must tell hold a wholesale drug license number.
12What is the sales tax?
It is the tax that is levied by the government on the act of sale of goods and services. This tax is imposed on the selling of goods and services that are produced or imported.
13What is a monopoly right?
When the holder enjoys the freedom to rule over the market when it comes to a particular product commodity which no other company does, it means a monopoly right. You enjoy all the profits as there is no competition.
14What are the required documents to apply for a franchise?
The following are the mandatory documents to get a pharma franchise. • Drug License copy (of the wholesaler or the retailer), • GST receipt issued by govt • Transport Road Permit (if applicable).
15Who can apply for the pharma franchise?
Doctors, medical representatives, Chemists, retailers, wholesalers, or any individual in this field.
16Why is the pharma franchise better than doing a job?
You become your own boss, high Profitability factor, greater opportunity for Growth, and one is his own Responsible for decision making.