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Queries on starting Pharma Marketing company

Query: Sir, we are 4 friends willing to start a Pharma marketing company . We initially planned a budget of total 4 Lakh. We chosen 5 tablet items and 3 IV products which run on regular basis.  Following of the queries I wanted to share- 1) Is 4 Lakh budget is sufficient for initiating this project?(8 items). 2) How do we introduce general IV products into Private hospitals and nursing homes? 3) How long it will take a time to run this business smoothly and grow? Response: 1) Is 4 Lakh budget is sufficient for initiating this project?(8 items). Best way to know about this is that, you can take rates of your proposed products from manufacturers and calculate your costing. You would have better idea about your budget then. 2) How do we introduce general IV products into Pvt hospitals and nursing homes? We hope you have experience and knowledge in those molecules. You just conduct a market survey about prices at what these products are sold in market and you can sell those at what rates t
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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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