How to get a license for starting a PCD pharma company in India
PCD stands for Propaganda cum Distribution. It is used in the pharma industry for ensuring marketing and circulation rights. It is a franchise business. A pharma franchise business is one where the company allows other companies or people to sell their products. A PCD pharma franchise company grants permission to individuals, other companies, distributors, etc. The very first thing that you need to keep in mind before starting a PCD pharma franchise is that you need to have a good network of doctors and other professionals in the field, this will help in providing an initial boost to the business.
Benefits of PCD medicine franchise companies:
There are a lot of benefits attached to it which have helped companies and individuals make a lot of gains. These are as follows:
- Low risk and better profits: The investment that needs to be put in is less, but the return on investment is high. The profits are certain, provided the franchise is taken care of, the right way. Many have jumped on the bandwagon to make profits. The chances of which are rather high.
- Makes your business scalable: Since you are a part of the franchise, it becomes easier to scale your business. In a situation where the demand for a particular drug goes up, it becomes a lot easier to meet the demands. You already have a base for your business. So, you need not worry about the business model or the foundation of the business.
- Monopoly and business freedom: When you are a part of a PCD pharma franchise company, you have the right to open its branch and maintain a monopoly in the market, which translates into earning better profits.
How to get a license for PCD pharma company in India:
Licensing and pharmaceutical industry moves hand in hand. The medicine franchise companies deliver medicines globally. Hence, they are very significant and need to be kept in check. The quality of drugs is a very important factor and must not be compromised.
Here are a few licenses that need to be issued before starting a PCD pharma company.
- GST (Goods and Service Tax): This is issued by the Direct Sale Tax Department.
- Drug License Number: This is issued by District Drug Inspector Officer
These licenses are utterly essential before starting a pharmaceutical business. Once these are approved with some nominal fees, then the license will be granted by the govt.
List of documents that need to be submitted:
For getting the franchise of a reputed pharmaceutical company certain documents are non-negotiable. These are as follows: follow
- Date of Birth Certificate.
- Qualification Certificate
- Proof of ownership.
- Address proof along with the purchase bill of the refrigerator.
- Affidavit of a competent person or experienced person is required.
- Address proof of partners in case of the partnership agreement.
- Application form number 19 for approval, renewal of the license to sell or become a PCD distributor.
Make a list of all reputed pharma companies that you want to work with. Do thorough research, both online and offline. Try to search about the demand for a particular drug.
Next, contact them and ask them about their terms and conditions. Read it thoroughly and if you agree to the terms and conditions, only then you can go ahead with the offer and seal the deal. Make sure to check the monopoly rights too.
Place your order according to the demands. Submit the required documents and the payment as discussed. If everything goes well, the first order will be received soon.
Pharma franchise is a good option if you are a newbie in the business. The risk is low and the chances of making profits are higher. You will enjoy an edge over others in the market. There is no need to worry about the business model when you are a part of a reputed franchise.
Hope this article was helpful. If you are someone who needs help with starting as a PCD pharma franchise company, get in touch with the support members of Albia Biocare. It is one of the best PCD franchise pharma company in India. If you want to become the best franchise company, get in touch with us. Contact the support group +91 9988289049 for skyrocketing your business today.
Leave a Reply