Steps to Join a Pharma Franchise Company in India

The need for quality medicine in both urban and rural areas is on the rise. Individuals who wish to start their own bussiness but do not want to take the high risks of starting from zero can opt for a franchise. The best thing about the pharma franchise business is that it requires minimum spending, supports an established company and offers high returns.

Everything from product to marketing materials and even monopoly rights is provided. This type of franchise is perfect for small business owners, medical professionals or new entrepreneurs who are looking to expand their business scope.

In this blog we will look at the various steps which are to be followed to partner with a pharma franchise company.

Why Choose a Pharma Franchise Business?

Before discussing the steps, let’s understand the reasons behind the popularity of this business model.

• Very Low Risk and Huge Opportunity
• Exclusive Rights Granted
• Additional Help with Marketing and Advertising
• Selling Opportunity of Numerous Products
• There is no pressure of a sales deadline

Now that you know the benefits, let’s look at how to join a pharma franchise company.

How to Get Started with a Pharma Franchise?

Conduct Thorough Research
Research the various pharma franchise companies and look into their reputation, product quality and available certifications as well as customer reviews. A responsible firm will help you with everything, including support, timely delivery and proper communication. Never forget to compare a few alternatives before committing to one.

Choose Your Products Wisely
Identify the category of health or medical goods you want to sell and market. If you live in an area with high demand for tablets or Ayurvedic products, it is better that you sell those too. A properly structured product range will permit your business to grow at increased rates.

Check for Monopoly Rights
Check with the company if they have the option of monopoly rights assigned to your region. This grants you the privilege of being the sole distributor of their goods in that locality. This means minimum or no competition.

Legal Documentation
To commence the business legally, you will need some basic documents, these are your drug licence, GST number, PAN and identity card. Most of the companies are ready to take the scanned copies and this is great because the process becomes faster and easier.

Sign the Franchise Agreement
The company will provide you with a franchise agreement after all discussions have been had. That is a legal document containing all of the business specifics, including the product pricing and rights. Make sure to review the document before signing it. This step makes your partnership official and secure.

Place Your First Order
You can place your first order after signing the agreement. It is recommended that you start with a low quantity. The company will also provide you with promotional tools such as MR bags, product samples and brochures that will allow you to start selling right away.

Market and Grow
This is the final step. After adequate preparation, it is time to promote your products. Pay visits to doctors, clinics and pharmacies and inform them about your products. With adequate work, your franchise business will surely expand over time.

Final Thoughts

If you are looking for the best Pharma franchise company in India then Granmed Pharma is the best choice. We provide quality and extensive services, as well as the incomparable support provided to our partners, speaks for itself. Contact us so we can assist you further with your pharma journey.