How to Start Pharmaceutical Business

Question:   I have read some of your articles and I must say your team is doing a great job in providing needy ones with  complete knowledge and details of Pharmaceutical Industry  of India. I had a small doubt and I would be grateful to you if you help me out of this. I am doing graduation from an open university (Delhi University, School of Open Learning (SOL)) and side by side doing a job in a  registered Pharma Company . The company recruited me on 10+2 basis. I just wanted to ask you whether I will be eligible to take the  drug wholesale license  in my name after graduation if I show the experience of 3 years in a registered pharma company alongside a B.A. degree. or I will have to show the experience in pharma industry after graduation ? Advice: For taking  wholesale drug license , a person should have one from the following eligibilities: Either  Registered pharmacist  under state pharmacy council or Person having minimum of one y...

 Elzac Herbal India V.P.O. Gheer, Karnal-132001 (Haryana) Contact: 8930765982 Visit: www.elzac.in

Important point in Pharma Franchise Marketing You should have price list with products that are available with you at regular basis. Don’t add products that aren’t available at you or you can’t fulfill at short span. You should also remove all products that you have discontinued or going to discontinue due to less demand or repeated expiry of stock. You can get party order based upon manipulated price list but can’t keep distributor for long time as they will easily understand your trick. Pharma Franchise business is based upon long term partnership with customer. A pharma Franchise Company only get benefited if a pharma franchise distributor remains associated with them for long time period.  Prices should be reasonable and same for a particular location for all distributors.  Keep your term and conditions simple and easy to understand. Don’t hide any point to associate with prospect. This make ruin your relationship with your party in future. Make clear all term and condit...

Video Language is Hindi Chapter 6: Sales Lead follow-up in Pharma Franchise Marketing In previous chapter, we have discussed about different ways of generating leads and prospect’s contact details, promote and advertise pharmaceutical company for generating franchise queries. We will discuss about follow-up here in pharma franchise marketing . You need to learn about follow-up because good follow-up may lead to convert a lead into business and spammy follow-up may damage your and your company reputation. Follow-up is must to do for pharma franchise marketing. You need to take regular follow-up with prospect periodically but you should make sure not to spam and irritate others with your follow-up. You can send reminder mails or massages or make calls etc.  How to follow-up? First you need to make a list of all leads in excel or any other ways that you receive This list should contain Firm name, contact person name, address if you have, phone number, e-mail address and follow-up dat...

Video Language is Hindi Chapter 7: Close a Sale In previous chapter, we have discussed about follow-up of franchise queries. In this chapter, we will discuss about finalizing your pharma franchise distributor and close a sale. You have made regular contact with prospect during follow-up. As we have discussed in previous chapter, there are generally four types of queries you will receive. During follow-up, some queries will convert into your distributors and some will not. That’s the part of game. You can’t convert all queries into sale. In Pharma franchise marketing, we generally consider that parties that come through your promotion and advertisement will associate with you at your term and condition and parties to whom you approach and try to give you distribution, will try to impose their own term and conditions. So, you should try to promote your business so prospects come to you and work with you at your term and conditions. You need to make regular follow-up with leads you recei...

Video language is Hindi Chapter 4: Identify Would be Customers (Prospects) in Pharma Franchise Marketing First rule of sales is to identify prospect. A prospect is an individual or business whom have possibility of becoming your customer in near future. You can’t waste your time to call or approach every person/business in pharmaceutical sector to introduce your product or ask for becoming your franchise. This is frustrating and useless way of spamming. You call fifty of persons daily and e-mail to hundreds of e-mail Id’s but get back hardly any. Problem is not in your efforts but problem is that you are approaching to wrong persons. Like other businesses, in pharma franchise marketing , you need to know who could be your future customers and to whom you need to reach to ask for becoming your franchise distributor. In this chapter, we will try to identify who can be your prospect or future customer. For completing a sale, a business needs a product/service, a salesperson and a customer...

Video Language is Hindi Chapter 5: Lead Generation and Approaching the Prospect (would be customers) We have identified that who could be our targeted prospects in our last chapter. In this chapter, we will try to reach to prospects, lead generation and approach them for taking our pharma franchise distribution. This will refine our prospect reach as we will concentrate only on those prospects that could be our customers, not every doctor, retailer, distributor or sales professional. There are generally two ways to generate new leads and business. Reach to prospect Advertisement and Promotion Both of cases have own advantage and disadvantages. We can find prospect through either we reach to proposed customer or we advertise and promote our business so prospect react to us.  Reach to prospect: Reaching to prospect includes travel to prospect destination, cold calls, promotional massages and e-mails, social media contacts etc. In this way, we collect information about prospects throu...