Last updated on January 2nd, 2018 at 05:00 am
The word franchise is come from the Anglo-French word means “Liberty”. If we go through history of franchise – that goes before eighteenth century. In modern time new era of franchise begins in late 19th century. In every sector like auto, soft drink, food etc franchise concept is so popular. Before 1950, in USA only less than 100 companies provide the franchise. In today business it will be difficult to count the numbers.
Pharma Franchise Business Concept:
First we need to understand the Pharma Franchise Business Concept. Pharma Franchise Business Concept is worked at business agreement between two parties. Supplier and Seller. Supplier may include Pharmaceutical Marketing Company and/or Manufacturing Company, carry and forwarding agent, distributor/wholesaler etc. Supplier may includes CNF, Distributors/Sales Professionals/Agencies, retailers etc.
Supplier procure and/or produce the product where as seller promote and sell the product. Profit margin, promotional and advertisement material, expenses etc is as per mutual agreement.
Generally product investment at stock & new products, promotional inputs and advertisement etc is taken care by supplier end whereas doctor’s expenses, market investment, sales persons expenses etc is taken care at seller’s end. Read in detail about Pharma Franchise Business and How it Works by Clicking here
Future of Pharma franchise:
If we talk about future of franchise in pharmaceutical sector, franchise business is growing – if we roughly say, one pharma franchise company has launched daily. But with growing pharmaceutical sector it will be not so easy for PCD’s companies to maintain their growth. Increasing strictness with new policies, DPCO, and amendments of law makes life for Franchise companies (PCD) more miserable as compared to before 2010 era.
Defaming of Pharma Franchise companies (PCD) in recent years, cut throat competition, decrease in margin, awareness about branded and generic products, awareness about manufacturing cost of drugs in public and professionals, unprofessional approach and poor services are few factors that are being faced by PCD companies.
In recent time, pharmaceutical sector are at changing state. In which side camel seat, no one knows. Pharma Franchise (PCD) business has its own pro and cons. But one thing is sure, pharma franchise is only option for small pharmaceutical companies and enterprises to compete with multi nation companies.
It’s necessity at current time to save the future of small and medium scale Indian Pharma Companies. What policy govt. make, they have to take care of small manufacturers and marketers.
Hope for a brighter and best future for Indian Pharmaceutical and Herbal Sector.
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