When you buy the franchise rights to a particular pharmaceutical company, you handle the distribution of their products in a specific area. You have monopoly distribution rights of that brand in that area. Hence, there will be no competition for you from the same brand. Hence, you will be able to gain significant demand from the loyal customers and you will be able to build a new customer base of your own.
Brand names You need to consider the brand names used by a company. Check to see if they are related to the products; you sell as well as your company name. They should be easy for people to pronounce and unique to enhance memory. The rationale here is that a catchy brand name will always be preferred over complicated ones in the doctor’s cabin.
As mentioned earlier, the growth rate of Indian pharma industry is phenomenal and the expenditure on pharmaceuticals is all set to increase up to 40 percent of the total spending on health care. In addition to that, the production cost is lower than that of USA and Europe and availability of skilled work force is also a bonus. Hence, it makes sense to collaborate with a reputed PCD pharma company.