Starting a PCD pharma franchise in India is one thing but making sure that your business is making profits as soon as you enter the market can be difficult. However, it is not impossible.
You need to strategize a few things to attract customers right away. This includes choosing the right PCD company for your franchise such as Vivaceutical to ensure that you tie up with reputable names.
There is no doubt that the sales you make in the very first month are going to be far less than what you can expect after six months. However, maintaining or increasing the sales in these six months will also require dedication, strategic work, and consistent improvement. Here are a few strategies that we believe can help you in attracting and sustaining an audience for your PCD pharma franchise business.
Strategies to Increase the Sales of Your Franchise PCD Pharma Companies
The following are some of the best strategies to follow that’ll help you increase the sales of your PCD pharma franchise company.
Get Monopoly Rights
Getting monopoly rights in your area can be your first strategy for getting the most customers. A PCD company that provides you with complete monopolistic control over a region is a good company to invest in. These monopoly rights only allow you to sell an exclusive range of pharmaceutical products in a particular region. This means that for a brand that you’re representing, customers can only access the brand’s products at your site of sale. This reduces competition by a lot and gives you an edge over other pharma businesses that may have similar products to some other brands.
Choose Products That Are in Demand
Choosing a wide range of products that are in demand, and covering a wide range of audiences can help you attract more customers than having a limited product range that targets a very specific audience. However, more products require more investments. As a beginner, you might not have the resources required to handle such a wide variety. Instead, opt for all those products that not only have a huge demand in the area of your choice but also lack quality supply. This will definitely help your business skyrocket in the initial stages and help you accumulate enough resources to grow your business eventually. To become a leading pharmaceutical company, you’ll have to deeply analyze the region you’ll be setting up your business in and the people that will be your potential customers.
The best PCD pharma companies have products ranging from regular pharmaceuticals for pain and relief to very specific nutraceutical and derma products. Working with such companies can help you in targeting a much bigger audience. And since the products are specific as well, it will get easier for you to target a specific audience as well.
Get Promotional Aid From the PCD Company
Usually, the companies offer promotional goodies like visiting cards, pens, notepads, bags, and more with their logo on them. Use these promotional products in your favor by giving them to your customers. This will not only improve your image in their minds but also act as a way of indirect marketing. Your customers can actually help make your brand name much more reliable in the market with these marketing and promotional aids.
This is a marketing strategy that will sustain your customers and attract more customers to your franchise by using the marketing support from the parent company.
Maintain Good Relationship With Existing Customers
Maintaining relations with your existing customers is extremely important. Be it any business or industry, having persuasive communication skills can help you significantly in making your image as a good seller. Your image matters when you are in a business that directly deals with people. Giving discounts, certain advantages, promotional goodies, or sharing information in a positive way with your regular customers will give them this sense of comfort and warm your relationship with them and we all know how much of a difference having a good relationship with a customer can benefit a business.
Finding the Best PCD Pharma Company for Your Franchise Company in India
To become the best PCD pharma franchise company in India, you must find the best PCD company.
In the end, it all comes down to the type of PCD company aka, the parent company, that you’re collaborating with. If the company provides high quality pharma products, helps in marketing affordable pharmaceutical products, provides third party manufacturing facilities, and more; it can help you grow in the industry.
Look for the following while finalizing the best PCD pharma for your franchise:
Companies that come out with an entire range of multitude pharmaceuticals, ranging from allopathic medicines to herbal medicines, ayurvedic products to psychiatric products, and more bring a wider range of quality products to the market. The more therapeutic segments that the manufacturing company covers, the more choices you will have.
A company that gives you the sole marketing rights over its products can be very supportive in your endeavor to become a successful PCD pharma franchise. Monopoly and distribution rights of a PCD can help you establish a name in the local market for bringing a broad range of high quality healthcare products that no other competitor can bring.
The PCD you choose must be one that provides promotional support and promotional inputs, along with ISO certified pharma products. Also, ensure that the pharma company you’re partnering with is always stocked with the products that you need and provides timely delivery. As a pharma franchise company, the last thing you should be is out of stock.
Apart from these, always find a company that has a well-established name, has a good reputation in the market, and has very clear terms and conditions. Only a company that is completely transparent with its associates can help you improve the sales of your PCD pharma franchise company.