+91 9824382041The cost of launching a PCD Pharma Franchise depends on various factors. Some of them are franchise brand, location of the business, the magnitude of the operation, and various market conditions.
Progressive Life Care is one of the well-known companies in India. If you ask such an expert, then you will get a general breakdown of potential expenses. Very roughly the cost ranges from 20K to One Million rupees. However, you shouldn’t forget that the estimated expense may vary significantly because they depend on different conditions.
Some important costs of launching PCD pharma franchise are given in the blog.
The pharmaceutical industry in India is very dynamic and expanding. It offers a limitless scope with high profit to entrepreneurs.
In the past ten years, the total revenue of companies in the pharmaceutical sector was more than 12 trillion.
Pharma Franchise Fee
A pharma Franchise Fee or initial fee is paid by the entrepreneurs to the parent company to get the marketing and distribution rights of the products included in the pharmaceutical product list.
The range of franchise fee ranges from INR 10,000 to INR 50,000 or more. This is needed to buy a PCD Pharma Franchise Business. This fee depends on the reputation of the company and the range of products offered.
Cost of purchasing stock
Entrepreneurs are supposed to buy an initial stock of pharmaceutical products to launch the pharma franchise business in the desired geographic location. This is one of the biggest costs, ranging from INR 50, 000 to INR 20,0000 or even more.
Cost of infrastructure and office Setup
When you want to launch the pharma franchise in india, you need a space to set up a small office or storage. This is the most necessary part of the business.
This cost includes general costs like rent, furnishing, electricity, security, and regulatory standards. It depends on the location of the business, and it is around INR 20,000 to INR 1,00,000.
Cost of marketing and promotional tools
Marketing and promotional tools by any pcd pharma company in india play a very critical role in creating brand awareness and increasing sales in the pharma market.
When we talk about marketing materials, they include
- Brochures
- Information templates
- Visiting cards
- Gifts items
- Sample products
- Cost of conventional marketing strategies
- Cost of digital marketing strategies
Usually, an initial budget is around INR 10,000 to INR 50,000.
Cost of legal and regulatory compliance
Since the products manufactured by your PCD Pharma Franchise business are related to the health and wellbeing of people, it is mandatory to obtain different licenses and registrations to operate the pharma business legally.
Some examples of legal and regulatory compliance are
- GST registration
- ISO certification
- FSSAI, and DCGI approval
The estimated cost of legal and regulatory compliance ranges between INR 5,000 to INR 20,000.
Cost of working capital investment
The cost of working capital investment includes salaries, the cost of obtaining utilities, hiring accountants and medical representatives, transportation, and other miscellaneous expenses. The estimated cost is around INR 50,000 to INR 1,00,000 or more. It depends on the scale of your operation business.
