PCD stands for Propaganda Cum Distribution. PCD is used for granting marketing and distribution rights. Basically, it's a franchise business i.e a business in which a company authorizes another individual, professional, distributor to sell or resell on their name. This process is called Franchising. The individual or the professional that gets this right is called Pharma Franchise or PCD Franchise. PCD Pharma Business is growing at a very fast pace in recent years. That is why many people are looking forward to either starting this kind of business or shifting to it.
In general, the franchise will work according to the idea and concept of the parent company under which it is working.
Because of the rapid growth of the Pharma business, the pharma companies tend to allow other professionals, distributors to have control over their marketing and promotions. This allows the parent company to have complete control over its production aspect which further helps them in many ways. Plus it opens many ways for the Pharma company by which they can focus upon their research aspect also.
If we talk in the context of our country India, it's witnessing decent growth over recent years and is likely to rank among the top 10 global pharma markets by 2022. There are many reasons for it like an increase in economic growth, the burden of disease is also increasing because of why there's a rapid growth in Pharma Franchise Business.
One of the most important reasons that have increased the scope of Pharm Franchise Business is the number of opportunities available in it. Like :
1 Online Pharmacy: This is a business type where there's a vendor who sells pharmaceutical compositions by an online medium and delivers the same via mails.
2 Stockists: It's a distributor who stores stock related to many pharma companies and delivers the same as per the need to retailers.
3 Veterinary pharmacy: This basically involves those medical practitioners who look after the safe production and usage of drugs.
4 Standalone pharmacy: This basically involves those individuals who are certified to work as a Standalone pharmacist. They are commonly known as chemists.
5 Distributing health supplements: One may also enter into the pharma industry by selling basic health supplements. As we all know more and more people have started to look after their health in a very conscious manner, especially during the pandemic so it creates a potential way for those who want to engage in manufacturing or distributing health supplements. Many individuals make use of these health supplements on regular basis,
6 OTC Medicine Distributors: One can also become an OTC medicine distributor. OTC basically stands for Over the counter which includes those drugs which don't require a prior prescription and can be sold by a Pharmacist.
1. A Low number of funds required: An individual doesn't require a humongous amount of money in order to open a PCD Franchise. He/She can easily start this process easily by investing a low amount of capital and can go a long way in it.
2. Low amount of risk: As compared to other forms of businesses, Pharma Franchise has a significantly low amount of risk. The prime reason being the low amount of capital required to start it.
3. Low managerial cost: Running a PCD Franchise Business doesn't need much effort, You just need to have the proper knowledge and the know-how about it.
Plus being your own boss will enable you to enjoy the whole of the profits on your own.
4. Huge profits: The PCD Pharma Franchise business runs on a simple idea i.e the more you sell the more you will earn. Because of this many individuals or groups of individuals tend to enter this business seeing a potential opportunity to earn more money.
5. Right of Monopoly: In most cases, the parent company allows the Franchise company to have a complete right over many things. Because of this the PCD Pharma Franchise can easily tackle the situation of high competition and reach more consumers.
6. Own Boss: In PCD Pharma Franchise Business you can easily work on your own. You can work as a sole proprietor and accordingly won't be answerable to anyone. You can enjoy the profit that you will be making without sharing it with anyone. Plus you won't have any kind of headache of achieving monthly targets or something like that.