How To Start A Medicine franchise In India From Any Pharma company for franchise

If you are planning for a medicine franchise in India, please remember that this is a very good opportunity for business. There are a lot of opportunities available to approach a pharma company for franchise in India. There are certain rules and regulations that need to be followed in order to setup a pharma franchise business and with a proper business plan and a systematic approach, any person or agency can start a pharma franchise business in any specific region of the country.

Certain pre-requisites to start a medicine franchise:

Once you set your mind to start a career with pharma franchise business, here is a short list of pre-requisites that are almost mandatory for availing any franchise options.

1. A wholesale drug license

2. A Certified pharmacist or a degree in Pharmacy

3. A premises of minimum 10 square meters (own or rented, both are acceptable)

4. Rent agreement in case you have a rented building

5. Some office furniture, accessories, refrigerator (for those perishable drugs), etc.

6. Some general certificates like, date of birth, address proof, ID proof, partnership deed, company registration certificate, etc.

Let’s break this list down with further simplifications:

For franchise option from any PCD companies in India, first of all your eligibility is a must. This eligibility is ascertained through the wholesale drug license from your state government. To obtain this drug license, you need to follow certain procedures that are described at your respective state drugs control organizations/ boards.

There are a lot of scopes under wholesale drug license, which can be re-focused as per your business plan and target area. You can obtain license for OTD (Over the counter drugs), medicine franchise, hospital supply, PCD franchise, generic medicine distribution, branded medicine distribution, medical/ surgical distributor, health supplement distributor, Ayurvedic/ Unani/ Homeopathic medicine distribution, etc. Depending upon the type of business you plan, you can apply for the drug license under the specific acts. Once you obtain your wholesale drug license, you can apply to any pharma company for franchise and start your business operations.

What would be the investments?

This is one of the major questions that come in the minds of new business setups. Well, it all depends on how much you would prefer to cover in terms of range of pharmaceuticals and the fees from PCD companies in India for allowing you their PCD rights. For any medicine franchise, here is a rough break-up of expenditures:

1. Licensing: Around Rs.25000 – Rs.30000

2. Office furniture: Around Rs.20000 – Rs.50000 (if you include Computers)

3. Medical Refrigerator/ common refrigerator

4. Rent of the premises (if you are starting from a rented premises)

5. Cost of Medicines (as per your preference and capabilities for investment)

Qualifications/ Educational Eligibility:

For obtaining your wholesale drug license you need to have the following qualification as a mandatory requirement. You must be:

1. A registered pharmacist (duly registered under the state pharmacy council)

2. A graduate in any discipline with at least 1 year experience as a salesperson in a registered drug licensed firm

3. A Senior Secondary certificate holder with at least 4 years of experience as a salesperson in a registered drug licensed firm

These are only a brief idea to start a medicine franchise from any PCD companies in India. You can search more about how to approach a pharma company for franchise with a little more research and consultation.

Danil Vieat is an experienced pharmaceutical sales professional. He shares tips on starting a franchise pharma company list.