Investment for Pharma Franchise Company
When it comes to investments pertaining to Pharma franchise then things are more or less at a level where you actually have to spend a good amount. It may seem simple and easy at first but there are lot of complexities along with rules and regulations that you need to follow. There are certain steps involved in getting the license after which you need to spend on the infrastructure and many other things. So we will understand all the expenses that needed are to be done and what are the mandatory requirements that you need to fulfill while starting a Pharma Franchise.
Types of Pharma Franchise
There are basically two types of franchise depending upon the nature of your business enterprise. The first type of franchise is when you take legal rights to produce a particular type of drug in a whole manufacturing unit. The second type of franchise is where you own a wholesale or a retail shop where you primarily sell the products of a particular pharmaceutical company in your outlet. Both these types of franchises are good and need a good amount of money as being a seller of a particular product is one thing and owning a franchise is a different thing.
How to get in touch with Pharmaceutical companies?
This is something that is very easy but yes you need to be very confident and planned when you are approaching corporates for business. The first place where you can get the contact details of pharmaceutical companies is from their official sites. There is always a corporate office address through which you need to contact them and arrange for a meeting and then go ahead with the business. Each and every official website will have a corporate office address for sure as its mandatory.
How much do you spend when you want to get a Pharma Franchise?
As there are two different kinds of pharmacy franchise depending upon the level of production or the need of the product so the rates and costs involved are also different. So let’s understand it differently as a manufacturing franchise unit and a wholesale Pharma franchise.
Manufacturing unit Franchise
This is a large scale long term investment and needs lots of legal formalities and you need to abide by the company law as well. To start with the cost of the land, building and machinery are the first ones where you can expect an investment of around 25, 00,000 maximum. After which your production cost and manpower needs to be included where you have to spend around 5,00,000 per month.
This is not as huge as a manufacturing unit but yes there is expense involved in this as well. In order to become a Pharma franchise owner you need to first get a license wherein you will be allowed by the Pharma Company to store and distribute the Pharma products in a designated area.
The average cost of the license is around 75,000-1, 30,000 Rs which is for duration f say 5 years or even more depending upon the contract. Then the land building and manpower cost is also there which comes to around 1, 20,000 per month.