At first I’d like to thank you all for your valuable information on ‘how to start a own pharmaceutical company in India‘. It was quite informative. But I want information as per my own profile and need. I’m having a experience of eight years in pharmaceutical sales and marketing with the companies like ————————— and currently working with ————————-.
Sir/Ma’m I wanna be a pharma entrepreneur and which mode would be the best for me to start with it- by registering own company or through franchises? I want to operate it in north Bihar. The Kosi region and the Tirhut region at first. Please give your valuable guidance on it. Looking forward for your kind support.
Your decision depend at your financial situation. Franchise marketing will need less investment while marketing company will require huge amount. Both has own advantage and disadvantage. We will discuss here so you can decide which one is better option for you.
- Franchise marketing requires less investment and can be started instantly while own pharma marketing company requires more investment and take time period to start in starting.
- In Franchise marketing, you can launch a good number of products at once without fear of much loss & expiry due to minimum quantity (i.e. 200 tab/ 500 tab etc.) as per need while in pharma marketing company, you have to get manufactured product at batch size basis. Minimum of twenty to thirty thousand tablet will be required to place order.
- In Franchise Marketing, Franchise company brand names and company name will be promoted while in own marketing company, your own company name and brand name will be promoted.
- In Franchise Marketing, you will not have to invest at promotional and marketing material because that’s the responsibility of company whereas in own company you will also have to invest at promotional and marketing material.
- In franchise marketing, you can invest your whole time at promotion and marketing only, you don’t need to concentrate at procurement of products whereas in own company, you have to divest your time at procurement along with marketing.
- In Franchise marketing, any time company can stop to supply its products or can supply to another distributor in your area whereas in marketing company, if one manufacturer refuse to manufacture, you can get manufactured your brand names from other one.
- In Franchise marketing, you have to depend at company strategy for launching new molecules in market whereas in own company, you can launch new products depend at market demand.
- In both cases, you will be requirement of Wholesale Drug License and GST Number
Depend at above factors, you can decide which will be better for you. We recommend you to start with franchise marketing with minimum invest. After achieving a particular stage, you start to launch your company by getting manufactured latest molecules one by one according to market demand.
Hope this information will be helpful to you…
For any query and suggestion, mail us at firstname.lastname@example.org
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