HOW CAN A MEDICAL REPRESENTATIVE START HIS OWN FRANCHISE ?
Being a medical representative has never been so fruitful to people like you. The people who work as a medical representative for others can now run their own business or PCD pharma franchise with the expertise they have in the field of pharma. This is advantageous to the medical representative as the investment is comparatively lower than the ones who employ medical representatives for their pharma company. When you can work for yourself then what is the need of going for a job in any other PCD Pharma Company.
Starting a Pharma Franchise in India for the medical representatives is not so much of a hectic task as they are already related to the pharmaceutical and medical field and they can get the support of the doctors and pharmacists very easily for their pharma company in India .
Pharma franchise in India and monopoly rights are the best ways that you can expand you business and marketing sector of your company. Starting the franchise of your own PCD pharma company in India will not be much of a difficult situation for the medical representatives as they have the similar experience in the related field.
There is a lot of confusion related to opening of a newly launched franchise unit that it may or may not grow rapidly, or the investment made in the franchise is having longer payback period, or the job as a medical representative will be at stake and you have to give your hundred percent time to the franchise unit. But this is not the case, the investment capital in any of the franchise unit can be less and you can also work in the franchise unit along with your job as the medical representative. But the efforts that are required for the growth of the franchise unit should be high and the quality of the products should be of higher quality and standardised to maintain the brand name of the company and to gain maximum net profit over the sale of those products.
Starting your own business in the marketing and franchise can be beneficial to you as you can earn more in this sector than working in a job as a medical representative for other company. Before beginning the journey as an entrepreneur you must be mentally and financially prepared until the franchise business takes a leap and start gaining profits.
You can choose amongst the best PCD pharma companies in India and can invest into them to obtain the franchise of these companies. After that you can establish the units of these companies wherever you want and can start the distribution of the products under the brand name of the company.
Steps that can be followed:-
- Arrange Drug License number and TIN number
- Preparation of list of pharma products for marketing
- Search for the pharma company and compare their rates and range of pharma products
- Ask for the vacant franchise distribution location
- Choose the company that is best suited for you
- Prepare an invoice for the products and send them to the company to provide sample for promotion
This is just the basic steps that you have to follow but the research is all up to you and how much you are willing to invest into it.