The difference between pharma franchise and PCD Franchise– By the end of 2020 Indian pharmaceutical industry is expected to become the third largest global market of pharmaceuticals. With the huge growth aspects, many pharma companies are coming into the play creating many business opportunities for the pharma professionals to start their own business. One among them is franchise and PCD business. If you are new in this sector then you might be confused about the difference between pharma franchise and PCD Pharma actually many are.
We at SwisscheM Healthcare, with the help of this post, will tell you about ‘What is the difference between pharma franchise and PCD Pharma Franchise’. Since Pharma Franchise and PCD Pharma is becoming lucrative business it is very important to understand the business properly to invest in the right company and in right form of business. To understand the difference between both these terms you firstly need to overview the pharma franchise and PCD Pharma.
The franchise is the authorization which is granted either by the government or by the company or an organization to an individual or group of people to start or allowing them to use their brand name and trademark for commercial activities by their own. The individual or group of people do the marketing, sale or act as an agent by selling the products of the Company.
Pharma Franchise and PCD Pharma Franchise both are same. There is no major difference between them they just vary on the scale on which both of them work. PCD Pharma which stands for ‘Propaganda cum distribution’ work on the smaller level as compared to the pharma franchise business but the basic working process for both is same.
Pharma Franchise or PCD Pharma is a term that is used for the marketing rights of the pharma company. The Pharma Company provide the authorization to the investors to use their name, trademark, and products to carry our commercial activities with the help of monopoly rights to sell the products provided by the company. Parties in this get the business opportunity an individual, group or distributors buy a product from the pharma company and then further sell it in the market with the profit margin.
Both PCD Pharma and Pharma Franchise don’t vary completely. The PCD Pharma and Pharma Franchise are same with the minor difference of the scale on which they work. Here are the few areas on which Pharma Franchise and PCD Pharma differ from each other:
Allotment of Area- Pharma Franchise require the larger area then the PCD PharmaSince the size of the pharma franchise business is bigger than the PCD Pharma, the wide area is given for the pharma franchise. On the other hand, PCD Pharma doesn’t cover the wide area thus, the premises is small as well.
Experience– PCD Pharma Franchise does not require much experience as compare to Pharma Franchise. For Pharma Franchise business you must at least have experience of 2-3 years of working in the industry.
Investment Requirements- Pharma Franchise surely requires more investment than the PCD Pharma as it works on the wide scale. For PCD Business you do not need to take credits and pay in the installments like pharma franchise.
The scope for the PCD Pharma Franchise business is huge in the country. This business provides the best opportunity for growth and good revenue to the pharma professionals, thus, many are investing their money in this sector. The growth aspects in future are also high which because with the increasing populations and growing economy healthcare sector is improving and this will lead to the requirements for the quality formulations.