Common Mistakes to Avoid While Choosing a PCD Pharma Franchise
The pharma business of PCD has emerged as one of the most trending entry points into the pharmaceutical business. Being comparatively inexpensive to invest in and having a high growth potential, lots of potential entrepreneurs are currently seeking opportunities with a PCD pharma company in India. But as it appears to be a basic model many distributors get stuck or fail due to bad decision-making initially.
Selecting a wrong PCD pharma franchise may result in failure to sell the stock, absence of trust with the doctors, and eventual losses. This blog identifies the most frequent errors made by individuals during the choice of a PCD pharma franchise and the ways to eliminate them.
Among the largest errors that beginners can make is to start the business without any idea about the functioning of the PCD model.
PCD (Propaganda Cum Distribution) implies that it is your duty to market and distribute the products of the company in your assigned region. The company delivers products and help-sales on your own actions.
The company has acquired several new distributors who think that it will create sales on their behalf. In real life, success is pegged on frequent doctor visits, building relationships and follow-ups. This is the mistake that the people who have just begun with a PCD pharma franchise in Karnataka or other competitive areas make.
Quality is all in the pharmaceutical industry. Overlooking this is a sure way of harming your business forever.
Doctors will only prescribe brands that they are familiar with. A single bad batch can result in a loss of credibility among the doctors and chemists.
Prior to entering into an alliance with a company, verify:
GMP and WHO certifications
DCGI-approved product lists
Massive quality testing and report.
Poor quality products will only be sold once; they will hardly be re-prescribed.
Franchises that offer a very low investment or unusually large margins tempt many distributors.
Very low prices often mean:
Poor raw materials
Weak packaging
Inconsistent supply
A more expensive and dependable product instills long-term trust and business in the doctor and repeat business. It is often too late before many failed distributors realize that cheap products are costly mistakes.
Almost all pharma companies nowadays use third party manufacturing pharma, this is quite alright. However, when done right.
It is not that the pharma company manufactures medicines but rather outsources it to certified manufacturing facilities.
Distributors do not even bother to verify the manufacturer of the products.
The certifications of manufacturing units.
Audit reports
Batches of consistent quality.
The third-party manufacturing system is strong which guarantees scalability and reliability.
The other pitfall is selecting an outdated or unfocused product portfolio in a company.
Physicians like products that will address a variety of therapeutic needs. The poor or insignificant range lowers repeat orders.
Diseases that are chronic such as heart disease and diabetes demand long-term medication. Distributorships have a stable potential of repeat prescriptions as compared to one-time sales as a result of partnering with a cardiac diabetic franchise company.
These are the rights of monopoly, which the PCD model is so tempted to enjoy misunderstood.
The monopoly PCD franchise offers you exclusive rights to do marketing within a specific territory.
Oral contracts without a written contract.
The same company having several distributors within one area.
Is the medicine produced by third parties predictable?
Yes, provided it is manufactured in certified GMP-compliant plants.
Does PCD pharma have enough monopoly to succeed?
No. More important are the quality of products, effort and doctor relationships.
What is the most appropriate segment of new distributors?
Chronic care, antibiotics, cardiac-diabetic segments all do well.
What is the time to realize returns?
Normally 6-12 months of fieldwork.
The decisions that are made initially determine the success of a PCD pharma business. Rushing quality, making price instead of value, bypassing manufacturing inspections, or relying on the word-of-mouth promises of a monopoly; all of these will result in possibly years wasted.
To the entrepreneurs seeking a reliable partner that provides clear third party manufacturing pharma, a concentrated product portfolio, chronic-care knowledge, and viable monopoly possibilities. Iscon Life Sciences Pvt. Ltd. is known in terms of its ethical approach, quality-based products, and distributor support over a long period.
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