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What is Pharma Franchise Model? A blog about how franchising works in pharma.

In this article I will tell you about the Pharma Franchise Model and how it is different from other franchise models. Along with Pharma Franchise, I will drop you some basic knowledge about the entire franchise model. Franchise marketing meaning varies from industry to industry. A franchise is a model of distribution and represents the most common business structure that enables the franchisor to capture recurring business from their franchisees. The franchisees are then able to earn profits from the same set of rules, systems and standardized products sold by other franchises across the country. In today's world of marketing, franchising has emerged as a lucrative option for new ventures as it simplifies and streamline the process of starting a business. With so much advanced equipment, efficient manpower, trained professionals etc., many entrepreneurs find it financially rewarding to take up a franchise business. What is Franchising? Franchising is a business strategy that involv
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How many product should be in Pharma Franchise Company?

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 company irrespective of number of products available at your product’s list.
Generally a pharmaceutical franchise company having minimum of sixty products is considered as average. But with these sixty product’s range, a pharma company can fulfill demand of common running products.
Number of product that should be in a pharma franchise company also depends at specialty or product division. Some specialty and division requires less number of products, and some requires good number of products to compete with competitors.
But at starting level, you should start with products as number as you can easily procure or launch without much difficulty and advertise your company to find franchise partners for your pharma company.
You don’t need to much care about number of products in your product list but try to make your promotion strategy as strong that you reach to maximum number of distributors/franchisee so you can find franchisee partners that are interested in products available at you and could associate with you. Gradually you can increase products to attract more clients.
Investment will depend at selection of products and their cost. Products you are launching is of high cost or low will affect your investment.

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