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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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First step need to take For Starting a Pharmaceutical Company

Query:
I am a veterinarian by profession. Have been going through your website from past 1 year and have planned now to give a start to my own pharma company. Please let me know what will be the first step I need to take. 

Answer:
First Step you need to prepare yourself for Pharmaceutical Company: 
Preparation means Choose marketing type, Choose molecules want to launch, Location where you want to launch product, Choose Company, Products Name, Budget available... 

Choose marketing type: As number of marketing and selling types present in pharmaceutical market. i.e. Branded Marketing, Generic Marketing, OTC Marketing, Franchise Marketing etc. You need to select any one from above. 

Choose Molecule: Once you have selected which marketing type is best suitable for you then you need to select at which segment and molecules you want to work. Check out: How to choose products/service for business?

Location: You can't launch your pharmaceutical company all over India or at broad area. You need to define which location you want to launch first your pharmaceutical company. Location and area covered will depend at marketing type you choose... 

Choose Company Name: If all above steps are completed then you can forward to finalize company name for your start-up. Name should be unique and not resemble to any existing names in pharma. You should get trademark your company name after finalizing. Check out: How to find unique name for your business?

Products Name: You will also need to fix product name for the molecules you have chosen above.

Budget Availability: After finalizing all above steps. You need to check how much investment you can investment at your pharmaceutical company. As next steps depend at your budget.

लेबल:

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