How to start Pharma Franchise Company

How to Start Pharma Franchise  Company – The Pharmaceutical industry is blooming at a good rate. With the development of the pharmaceutical industry in India, people are getting aware of the quality medicines and accepting the branded pharma products. This has resulted in the huge demand for the pharmaceutical products both globally and in India. The pharmaceutical industry is growing at a very fast rate. Many new pharma companies are joining the list every year. If you want to start your products to each pan India then good distribution network is must and that be obtained by Pharma Franchise business. Many pharma professionals who are new to this industry are not aware of how to start pharma franchise company.

In this post by SwisscheM Healthcare, you will get the right way to start pharma franchise business in India. India is going to be the 3rd largest market for the pharmaceutical drugs. The demand for the pharma products in India itself is huge and this has created a good business opportunity for the pharma professionals across the country. The scope is great thus many are interested in this sector. What is the thing that will make you stand out then the rest? Well, it’s how you start your business, this ensures the good growth and smooth running of your Company in the long term. Here is the best way to start your pharma franchise business.

How to start Pharma Franchise Company

Important Things to be kept in Mind while starting Pharma Franchise Company

Here are some important things that you should keep in mind while starting your business. These things will help you to start your business in many ways and avoid all the troubles that you might further face in the whole process of starting your business.

  • Research the molecules and drugs that you want to launch in the market under your brand name. Make sure the molecules that you select is in demand.
  • The company of the company and your brand name should be unique that means it should not be taken by any other company.
  • Look for the shop, building, premises for office, licenses, and stock. It can either be rented or owned. the area should be adequate space as per government norm.
  • Appoint experienced person or registered pharmacist as per norms.

Best Procedure to get a great start for Pharma Franchise Company

  1. Find the name of your Company
  2. Select the molecule that you want to offer along with the brand name
  3.  Finalize the logo for your company and printing material
  4. Select the good premises for starting company
  5. Apply for all the necessary documents for your pharma company
  6. Get your company registered
  7. Get in touch with the vendors for manufacturing and finalize the one that you want.
  8. Place an order to the manufacturer
  9. Prepare the agreement and contract
  10.  Packaging and Packing, Design Material are important things to work on
  11. Clear your payments with your vendors and others (Generally 25% Advance and 75% against proforma invoice)
  12. Manufacturer will provide you with the products
  13. Once the products will be done, manufacturer will contact you by invoice
  14. Give order for new products in approximately 30 to 45 days
  15. You will get the products from the manufacturer at the billing address
  16. Transportation should also be done in a good way
  17. Receive

Documents Required for Starting Pharma Franchise Business

For starting a pharma franchise business there are some legal formalities that you must need to complete. For selling or any kind of drug in India is very important you have the registration nd license authorized by the government of India. Without these documents, you won’t be able to start any pharma business or company. Here is the list of documents that you must have:

  1. Drug Licence number (D.L. No.)
  2. Tax identification number (TIN)/CST/VAT
  3. Company Registration
  4. Trade Mark registration
  5. FSSAI Registration

 

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