Query: Myself —— working in pharma R&D want to start PCD pharma company based at Jalgaon (maharastra) . my budget is about 5-7lakh , Guide me for about it
Response:
An average pcd pharma company has nearly 55-60 products at initial stage but Persons having experience in pcd pharma companies can start with two or three products also, if he/ she has good market coverage and relationship. Although budget depend at products selection and quantity of each products in stock but we approximately consider 20 to 25 lakh for general product list of 60 products. Product list should contain tablets, capsules, syrup, dry syrups along with one or two general ayurvedic product and few injections etc.
For starting pcd pharma company, you have to understand psychology of a pcd distributors. No one want to associate with company who don’t have full range of particular segment or products of his choice. Most of pcd distributors work with selected products of any company but before finalizing company, they prefer company having good number of molecules in products list.
With budget of five to seven lakh, you can get manufactured approximately 15-20 products. This range is not bad but at that time you should have few good market relationships those could be associated with you to market your company or you should have unique combinations that could generate interest in your company. In this budget, you have to do proper market research before product selection.
As we have discussed in previous articles also, Marketing and sales are life line for any business and this is applicable to all business, pcd pharma company is not exemption. You will also need to fulfill marketing and sales section of company along with your experience in R&D. If you could handle it at your own then no problem. But if it could not be taken care by your self, then you have to compensate it with by recruiting sales employee or partnered with sales person.
You can start within your budget by considering many factors i.e.
- What/which type of products should be in your Product List?
- How will you find or search for your Future Customers?
- How will you manage your company?
- How will you manage your fund?
- Future Plan.
- Number of staffs you need or You can handle it alone in starting or you will have need of staff. etc.
Hope above information was useful to you.