Things that should be considered before starting pharma franchise business

While promoting franchising business, I always concentrate to convert marketing professionals into franchisee partner for my company. It is fact that Marketing professionals become faithful and loyal franchise if they are starting with you as a first timer in franchise marketing but doing work with them and make them successful is also difficult task. Mostly franchise companies don’t have such a patience to wait for some period to get adequate business from them but few companies only try to find pure and first timer marketing professionals to start with them. (As we do in Our Herbal Product Company)

Associating with Franchise Company is a profitable and valuable business but should be careful in many sections for establishing franchisee business as a career choice.

From our experience we are listing few problems Marketing Professionals face while starting with their first franchise company…

Selection of Wrong Company:

Choosing a best pharma franchise company is difficult task. You will be totally depending upon them with products procurement and marketing inputs. Your money and career will be based on how you and they work. Be careful while choosing your franchise partner. If Good choice can establish you, poor choice can ruin your future.

Shortage of Fund:
Not matter how much money you have to start or paying your bills but you have to struggle with money after start. In start it will be difficult for company to provide you credit, so you have to invest in all sections of marketing. How strong your relationship in market will not count but you to give credit to chemists and distributors.

Return will be slow in start but will increase as you create good market presence. So, start with 25 out of 100 where you can sell. Go slow, Go steady philosophy will work here. Once you have started getting return, you can increase your circle gradually.

Misconception about market relationships:

Relationships are based upon time and circumstances, and it also true in regard to pharmaceutical franchise business. Your market relationship may be based on your present company status, your position or your own personality. When you will go in market with your own brand without any presence of these brands in market, yours very close relationships will show their empty hands.

Be patience at that time and convince them to just only start with you without much profit. If they ready to start with you, you can get more business after sometime.

Wrong Product Selection:
Which product or salt line you are selling in your current company, not necessarily you should sell with your own franchise products. You can choose product’s line for those you can easily get prescriptions. Making wrong selection can put you at difficulty. If something is not working, you can change it instantly with other more running product.

Dependency on Others:
Once me and my two friends think to start own marketing with a PCD company. We had purchased and setup all things. We had all qualities that are necessary to sell products. But we were failed in our first attempt, not because we didn’t try, but because we were dependent on each other. We were good in our department but not good in team.

If you want to start alone, be confident and self-dependent. If you want to start in partnership or in team, you all should know your own work and responsibility in team. Every person should independent in his work and part of your team.

Related Links: Want to start your Pharmaceutical Company! Read Requirements here

Hope above information is useful to you…

For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com