How Much Investment Is Required To Start PCD Franchise Business?

How much investment is required to start Pharma Franchise Business -: With the regular increase of population and due to the changing lifestyle of people they are getting infected with the chronic disease so the demand of Pharma products has increased gradually. The industry has become profitable as it can start a venture due to multiple benefits like genuine investment, monopoly rights, attractive profit margins etc.

With the huge growth in the Pharmaceutical sector, it has opened the door of opportunities for Pharma professionals and is estimated that India will become the third global market for Pharmaceuticals. If you are willing to start the Pharma Franchise business then you must be knowing about the investment required to start Pharma  Franchise Business in India.

If you really want to initialize your own Pharma business then it is important for you to know your capital requirement, financial security and savings as it is one of the most profitable businesses in the world. Due to the drastic  increase of diseases in people there is more demand of quality medicines every fortnight. Although the pharmaceutical industries has gone through the ups and downs in the business but there is attractive profit in sales margin.  In this article we will understand how much investment is required to start a Pharma Franchise Business.

STEPS  FOR  STARTING  PHARMA  FRANCHISE  BUSINESS

Good market research should be done if you are deciding to start a business in the Pharma Sector as there is high competition in this sector not only with the big brands but at the local levels also. Good understanding of the industry should be there through the websites of various Pharma industries.

Following are a few steps which must be taken into consideration before starting Pharma Franchise Business :

• Research about the industry and the product should be done and the list should be prepared that you want to launch in the industry.
• The name of the brand should be unique that do not exist in the industry.
• The area which is searched should be according to the norms of the government and according to the reach of the people.
• The pharmacist appointed should be experienced and should be appointed as per norms.
• All the necessary required documents should be prepared.
•  The vendors should be finalized that are required for business such as manufacturer, printer etc.
• After going through the above points the license should be applied.

REQUIRED  DOCUMENTS  AND  LICENSES  FOR  PHARMA  FRANCHISE  BUSINESS

The foremost thing that is required to start any business is the drugs license and other registrations which are according to the norms and regulations of the government because if the drugs is sold without the license then it can hold a huge problem for the industry in the future. The license for drugs can be used of stocklist or your wholeseller if you don’t have the document or the license, so it’s the basic requirement before you are planning to start a business.

Important documents required for Pharma Franchise Business

 Tax Registration : To start a new business in the Pharma sector the registration with the state government is must so that the tax is payed time to time. The registered document received from the government is must for selling and purchase of Pharma products or drugs. Things included in the tax registration are :

1. VAT (Value Added Tax)
2. CST (Centre Sales Tax)
3. TIN (Tax Identification Number)

Pharma  Drug License : To start a new business in the Pharma sector it is essential and mandatory to have the license issued by the state government. You can use the license of wholesaler or your stocklist but it is better if you have the license of your own. The Pharma Drug license can be applied here :

1. Central Drug Standard Control Organisation
2. State Drug Standard Control Organisation

INVESTMENT  REQUIRED  FOR  PHARMA  FRANCHISE  BUSINESS

If you are planning to start a new Pharma Franchise Business then it is important to have the financial status good because if you have good financial status then you can invest in a good manner and can help the business to grow. Although it is difficult to provide you the exact amount of investment as it varies from companies to companies, so it is important to divide your investment requirement ;

1. Initial Investment
2. Secondary Investment
3. Emergency

By dividing the investment in the above three points you can run your business smoothly as initially you will be needed to invest the money and then get a good return when your business is established. While investing the money you should be known about the expenses like rent of the premises, electricity etc. The documents which are required for investment are :

The investment for drug license number will be Rs. 5000/- but it may vary from state to state

For VAT/CST investment required will be 4500/-

For Pharma Company if there are two partners then the investment required will be 9000/-

The fee of government is required and every product for trademark registration is 4500

Registration required for FSSAI is 100 per year.

 

REQUIRED  QUALIFICATION  AND  EXPERIENCE  FOR  PHARMA  FRANCHISE  BUSINESS

To understand the business terms of the Pharma Franchise the person should be at least SSC or Graduate, as the person of this qualification will be able to calculate net margin, profit margin and other financial things by their own. Even though the person goes through through the qualification required but still he should have the experience of minimum 3 years in the pharmaceutical industry which will benefit the business. The people who can apply for the Pharma Franchise Business are :

• Wholesalers
• Retailers
• Pharma Distributors
• Medical Representatives
• Pharmacist registered under state pharmacy council

CONCLUSION :

Even though the company provides you with marketing tools, still you have cut down your unexpected expenses and try to save for the promotional benefits. You should be prepared from the start so that if you face any difficulty then you can handle accordingly. Anyone can succeed in the Pharma market if they have good networking and professional relationship with doctors. If you are looking for the best Pharma then SKG Internationals is the best Pharma company for PCD Pharma Franchise in India.