Did you know that the global Pharma Industry was worth 1.27 trillion USD in 2020? The Indian pharma industry is the third-largest in the world in terms of volume, meaning that it is also one of the biggest business sectors in the country. So, you can imagine the scope of this industry in India.
If you are considering whether you should invest in a PCD pharma franchise, the short answer is yes. You see, the pharma sector is responsible for creating numerous career opportunities in India. In this blog, we will talk about the benefits of setting up a pharma business in detail, so keep reading.
Benefits of a Pharma Business in India
As we mentioned above, the Indian pharma sector has a lot to offer. As one of the top pharmaceutical companies in India, Vivaceutical is here to help you understand how to get started with a few easy steps.
Now, let’s look at how you can benefit from a PCD pharma franchise business.
The major risk factor people experience while starting a new business is an investment. While you may have the impression that all businesses require hefty investments, that is not the case with a PCD pharma franchise. You can start a pharma business with minimal investments. Let’s take a brief look at where you will have to invest to get started.
- You need the government’s approval before starting a pharma business, which means that you will have to pay for a few documents. The wholesale drug license will cost around Rs. 5000, Income tax registration will cost around Rs. 4500, you will also have to rent out an outlet for selling. Of course, you will have to source the products, which would cost Rs. 10-15,000 when you work with an efficient company like Vivaceutical. So, we can say that it would require an initial investment of Rs. 30-50,000 when you factor everything.
- It is also advisable to have some extra money in case of an emergency. This is not a part of the initial investment, just something everyone starting a business should keep in mind. Even if you can stash away Rs. 10,000, it may prove to be quite helpful in the future.
When you make relatively smaller investments, the risk is automatically reduced. As India is one of the biggest suppliers of high-quality pharma products, you do not have to incur the cost of importing goods. Other reasons that makes pharma a low risk business in India is the high population, presence of viral infection, rising pollution etc., which keeps medicine in an all-time high demand.
Therefore, pharma businesses always have customers in India, and the likelihood of them not turning a profit is almost negligible. Moreover, as you make more investments along the way, the chances of growing your business and increasing profits are very high. You can easily grow a pharma business and avail maximum benefits in every aspect.
If your biggest concern regarding investing in a PCD franchise is the competition in your area, worry not, we provide you access to monopoly rights of Vivaceutical products!
This means that you get to choose the area in which you want to set up one of our franchises. For instance, you may set up a shop in your sector, so another business will not be allowed to open our PCD franchise in that sector.
Moreover, you will have the right to decide which products are sold in your area. Basically, you will attract more customers as only you will be carrying the products they need.
Ability to Profit More in Less Time
As you already know, the demand for pharmaceutical products is ever-increasing. In fact, the Indian pharma industry had the best growth till date in the past year. Thus, it is a highly profitable sector, especially when you source the products from a reputable company with quality ingredients. You should also keep in mind that the products you choose are in regulation with the GMP and WHO guidelines.
Furthermore, you can enjoy the following advantages in the pharma sector when working with a company that cares about its partners, such as we do.
- Choose from a wide array of products – we offer several types of products, as tablets, dry syrups, liquids, capsules, soft gel capsules, soaps, injectables, energy drinks, creams, ointments, gels, powders, etc.
- Affordable prices – As mentioned above, you will only require a small amount for the initial investment when sourcing products from us. We believe in making quality healthcare accessible to all, so we have priced our products accordingly.
- Timely delivery – when you place an order with us, you do not have to worry about constantly waiting for the products to show up. We pride ourselves in timely deliveries, all over in India, however, the estimated delivery date may vary depending upon your location.
- Quality assured – we assure that you receive products with only high-quality ingredients. All our products comply with the DCGI and FSSAI standards and each batch goes through all the quality tests.
- Customer support – whether you have a question regarding investing in a PCD franchise or wish to inquire about something related to the products, our executives are here to help you 24/7.
- Monopoly rights – as mentioned above, having monopoly rights is a massive advantage. So, we will help you make sure that nobody sells our products in the same area as you.
- Promotional input – if you are completely new and don’t know how to acquire customers, worry not, we’ve got you covered! We will help you market your franchise and maintain constant communication for when you have any questions throughout the process.
If you were skeptical about starting a pharma business, hopefully this blog has helped you gain clarity. We would suggest that you go ahead and profit from this amazing business opportunity.
For a comprehensive, step-by-step guide on starting a PCD pharma franchise, click here.