Pharma franchise business is one of the successful businesses to start with. The business has a number of benefits that one can enjoy. The most amazing thing with this business is that you start the business on the name of a well-established company and become the sole owner of your business. Being a franchise partner your franchisor supports & assists you as and when you get into trouble. There is nothing to lose and much to gain in this venture.
Pharma franchise is a lifetime and a swooning business opportunity. If an individual or entity has interest in Pharma sector and earned a little experience as a marketing representative (MR), distributor, seller or supplier of medical products. If he has gained basic knowledge about drugs and wishes to start his own business then Pharma franchise is the best career choice for him. He can explore a number of opportunities in this business.
Pharma franchise business model works like other franchise business models where the master franchisor make franchise agreement with the prospective franchise buyer and authorizes the franchise partner to start his own business using the name of franchisor’s company, brand image, products & services, standard operating procedures, logos, signage etc and in return charges a fixed royalty fee and other variable marketing expenses.
Benefits of Pharma franchise business
- Nominal investment: Pharma franchise business can be started with nominal investment. The price of every Pharma franchise company is different. The initial franchise price could be between Rs. 25,000 to Rs.50, 000. This amount can be paid at once or in instalments depending on company’s policies.
- Credit facilities & assistance: Most of the Pharma companies extend credit facilities and provide assistance in taking loan from the bank to start the business.
- Negligible risk of business collapse: The fear of failure of business always haunts us, what if the business failed and investment gone into vain. But in Pharma franchise business there is no as such risk of failure of business.
- High returns: Pharma franchise business is a fruitful business as the success rate is always high and returns are great.
- Monopoly rights: The Pharma franchise company offers the monopoly rights to the franchise partner to sell and distribute their products in the territory as per his convenience and company’s policies.
- You are the boss: After buying the franchise company from the master franchisor you become the sole owner of your Company & business. It means, you are the boss of your company and there is no immediate authority rule over your head.
Conclusion
Pharma franchise business is full of opportunities and sky is the limit for the wilful man. Nowadays, almost all Pharma companies are offering franchise business online and you can have business with any company after doing your basic research work. It’s a low investment and higher return business venture. The risk factor is almost negligible. The franchisor offers you the monopoly rights to conduct your business and you become the owner and boss of your business without interference of any superior authority. So, this is one of the best career option to choose and lead a great life ahead.