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How to grow your Pharma Business?

  Growing a pharma business requires a strategic approach considering the specific context of your company and the pharmaceutical industry as a whole. Here are some general pointers to get you started: Market and Customer: Identify your target customer: Deeply understand the specific needs and challenges of your target audience, whether it's doctors, patients, hospitals, or other healthcare providers. This helps tailor your products, services, and marketing efforts. Focus on unmet needs: Look for gaps in the market where existing solutions are inadequate or unavailable. Addressing unmet needs can give you a competitive edge and drive innovation. Track market trends: Stay updated on regulatory changes, technological advancements, and emerging diseases to adapt your approach and anticipate future opportunities. Products and Services: Invest in R&D: Develop innovative products or differentiate existing ones through unique formulations, delivery methods, or combinations. Remember

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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