Query:
I am D.pharm passed out in —–.I want to start my own business. What is the difference between pcd pharma and franchise pharma? I read your posts but I am not clear about the difference. And what about selling products through my company name through third party manufacturing?
My budget is 50 thousand only. And how to establish my company name into big brand name like cipla/mankind? I have no experience about marketing.
Response:
In reality both pcd pharma and franchise pharma are co-related word. You can use both of words for same thing. Both terms is used for own marketing with pharma company at monopoly rights at mutually agreed term. They have only minor difference is that pcd is used for small scale own pharma marketing and Franchise term is used at large scale own pharma marketing. For most of companies and distributors or marketing persons, these terms doesn’t matter. They consider both as same. No one go in deep to find the meaning of these terms. They use one term in place of other. In other words, don’t confuse with these term, consider both terms same.
You can start your own marketing company with name as you want and get manufactured your products at third party manufacturing basis from pharmaceutical manufacturing companies. Read whole third party manufacturing process here.
Budget for starting own marketing company doesn’t matter if you have enough knowledge and relationship to sell your own products. Few person start with minimum amount and become successful entrepreneur but few couldn’t be successful even after investing few crore in his company.
Its good to start own business but without any prior knowledge of marketing and sale, we will not suggest you to start any type of business. Starting and establishing business is not as simple and easy as it feels. It is toughest thing that is done by anyone in his career.
Before starting your own company, you should work with other companies and learn all aspects of business, administration, sales and marketing. We don’t mean you should be master in all segments but at least you should have clear and good knowledge of all things. Work for at least 3-4 years or as you find satisfactory and when you feel, you can sell your own products in this competitive market then think to start your own company. Otherwise you will have lost your time and money.
Hope this article was helpful for you…. For any query and suggestion, please mail us at pharmafranchiseehelp@gmail.com