Do you also have the same question in your mind? This is the same with them who are planning to invest in pharma business. There are two terms which are more prevalent in this industry- PCD Pharma and Pharma Franchise. There is not much difference between them. Both are interlinked terms in a way. But, beginners often get confused in both the terms and do not understand which one is better for them. The following article is all about it. You will get clarity about both the concepts and confusion will go away.
What is the Meaning of PCD Pharma?
PCD is an often used term in the pharma industry. The pharma companies such as Vivaceutical sell their monopoly rights to the franchise holders which give them access to sell their products in particular areas. It is a technique to increase the selling of pharma products with the help of franchise holders. This creates a good business option for both the pharma company and franchise holder. The company shares its product information, trademark and brand with the franchise holder. There is some decided profit that the franchise holder has to pay to the company. There is no bar on earning profit and selling the products. The company fulfils their requirements if the demand increases.
What is the Meaning of a Pharma Franchise?
Pharma franchise is the concept of taking permission from the government to sell pharma products in the country. The company owning the rights promotes their business with the help of agents, marketers and retailers. They help in promoting their products in the targeted areas.
How to Choose a Better One for You?
After going through the basic idea about pharma franchise and PCD pharma, the below mentioned points will help you to choose the better one for you.
Investment Needed
The investment requirements for the both are very different from each other. The Pharma franchise needs a big amount to be invested for starting a business whereas a PCD franchise can be started with little investment. So, if you are a beginner to the business and want to invest less, you should opt for the PCD pharma franchise.
Experience in the field
Pharma franchise needs a good experience and expertise in the field of pharma. If you are new to the business, then this business is not for you. You should go for PCD pharma in this case as it does not require any prior experience in pharma.
Area of Operation
The both businesses give the right to enjoy monopoly rights of the company. The difference between the both is the area of operation over which the rights are valid. Pharma franchise members enjoy the right to operate in a wide area whereas PCD pharma has rights for the small region.
Target restrictions
PCD franchises do not have any particular targets to meet. If there are any, they are easily achievable. It gives you the freedom of working with your will. There will be no boss for instructing the task deadlines. On the other hand, the Pharma franchise set a target for the members working with it. They have to achieve that target for the company.