How to Start Pharmaceutical Business

Start taking Orders (Step 15 of our how to set-up new business guide) You have completed all steps for setting up new business . You have promoted and marketed your business, you have recruited sales staff or working as a salesperson by own self. Now it’s time to do work in field and collect order. Why we have placed taking order at fifteenth step because without complete preparations, you shouldn't go to collect orders. Without preparation, there may be possibility that you can’t fulfill their orders or may get unexpected huge order and you aren’t in position to complete it. If you don’t fulfill any order timely, you may lose a good customer for lifetime. So, once you have completed all your set-up and in position to fulfill it, you should start taking orders. Order processing part should be easy and free flowing, and don’t include any unnecessary barriers. You should take care of certain factors while taking orders: Reputation of your customer: Whether they payment schedule is g...

Recruit Sales Staff  (Step 14 of our how to set-up new business guide) For starting a new business, you need to be multi-tasking and must handle more than one department. Sales is one of them. You or your partner need to handle it. If you decide to handle sales part for your business then you aren’t alone, most of small business start-ups and owners handle their sales part by themselves. When you reach a certain level, you can add salesperson in your business.  Requirement of sales staff depend at your business type and scale. If you are starting with small level and want to work by own then you can skip to appoint sales team but if you are going to set-up at good level, you may need to recruit sales team for your business. In some cases, even you are starting with small scale but if you don’t have sales knowledge or experience then you may need to recruit sales staff. A good sales team can do extra ordinary for boosting your business whereas a wrong selection will only incre...

Question: Please help us with the following information We are getting prepared sanitizer third party manufacturing basis, Manufacturing will be  by other party and marketed by our company. Please let us know the following information (Our area of operation will be Delhi and want to sell all over India) 1. Can we sell the product? only with the incorporation documents in hand  2. Is any license required for selling hand sanitizer? 3. What is the label required.. mfg licence no of the third party and marketed by our name... is our license required to mention? 4. what are the other requirements? to start selling (we are planning sanitizer, hand rub, surface cleaner etc...) Please give information so that we can take proper decision Answer: Licenses and Documents required for sanitizer depend at its nature of manufacturing. If it is manufactured as Pharmaceutical product then you will require to take license to sell it but if it is manufactured as ayurvedic medicine or cosmeti...

Question: My name is ------- from Kolkata. I just want to start an e pharmacy. Could you please be inform somewhat sales margin offline and online in local area? Answer: Check out detail of starting e pharmacy business here Profit margin in e pharmacy is also almost the same as of offline pharmacy. Offline pharmacy store have approx. 18-20% margin with few other benefits like free goods and other offers. Margin of pharmacies also vary based upon marketing of products like generic drugs, branded drugs, otc drugs etc. Check out in detail: Profit margin in pharmaceutical industry

Question:  I would like to startup a pharmaceutical distributorship/Stockist in Kerala, preferably in Alappuzha. I am looking forward to starting a wholesale business for an ethical pharma company . Can I take agency for multiple companies under one distributorship?.. Answer:  Yes Sir, You can take as number of companies agencies as you want at your wholesale drug licensed firm.. There is no restriction at number of companies distribution ship you can take if you have wholesale drug licensed firm/company. Check related links: Top start-up and Business Ideas in pharmaceutical industry How to apply and renewal for Drug license (Wholesale/Retail)? What is profit margin of Pharmaceutical Retailer (Chemist and pharmacies)? Prescription Drugs list in India How to start medicine business? Retail Drug License Wholesale Drug License

Question:   I am from ----- healthcare, I always read your blog about pharma world and it’s amazing, it also gives me so help. Now, sir, I have query related to pcd franchise business . I want to start own pcd franchise company so I want to know, how much minimum product should be required to launch and what the investment needed in this project? I already have drug licence, trademark, GST number and all legal aspect and I have also experience in pharma world but I have query related to product range and investment. Answer:   How many number of product’s you need to start a pharma franchise company is difficult to say. Some pharma companies start their franchise distribution because with less than ten products and some pharma companies start with more than 100 products. Whether person or distributors will take your pharma company’s franchise or not, depend at their need. If you have product range that they have requirement then they will take franchise of your pharma compa...

Download: PTR/PTS Calculator Download by clicking here You have fixed Maximum Retail price for your product. You have also fixed profit margin, you want to give to retailers, stockists and other distribution channel business partners. But you don’t have knowledge how you can calculate at what price you will bill to stockist and stockist will be to retailers. Then this article is going to be very useful for you...  In this article, we will calculate price to stockist (PTS) and Price to Retailers (PTR) with any given MRP and margin percentage. Also we will provide a PTR/PTS calculator along with how you can make your own PTR/PTS calculator in excel format and we will also provide link to download PTR/PTS calculator in excel. Check related article: profit margin in pharmaceutical industry (Manufacturer to retailers) Have a look at important definitions related to this topic: Distribution Channel: Distribution channel is a group of businesses involved in process of delivery a produ...

Supply Chain: Set-up a Distribution Channel (Step 13 of our how to set-up new business quide) You have set-up your business and conducting marketing & promotion so consumer starts to purchase them. But if your products/services are not available at location or portal where your proposed customer is going to purchase it then your marketing & promotional strategy and activities are waste. So you need to set-up your business channel/supply chain that helps to add value to your business and helps to deliver product/service to customer at accurate time on desired place. At business plan, we have write-up about our proposed distribution channel. Here we will discuss about distribution channel/supply chain in detail. What is Distribution Channel/Supply Chain? Distribution Channel is a way to deliver a product/service at location where its end consumer is going to buy it. Distribution channel is chain of businesses that handle product/services. Distribution channel is also known as s...

Promotion and Marketing of Business  (Step 12 of our how to set-up new business guide)   A complete guide for marketing and promotion of your business:  Prime purpose of promotion and marketing is to reach to proposed customer and encourage them to purchase your products/services, and to establish a long term relationship that will make them repeated customer. Factors affecting: Promotional and marketing activities are based upon many factors. Few are as below: Nature of your Business:  Which type of business you have, affects your marketing strategy. Manufacturing business may have different business aspects as compared to marketing company. Manufacturing business has more business opportunities than marketing business. They can do contract manufacturing, private labeling for marketing companies and much more that marketing companies can’t do. In addition, they can do all activities that can be done by marketers. Hence manufacturing business may have some...