The Pharma industry is a vast business sector that consists of the manufacturing of medicines, surgical goods, and other medical devices, etc., distribution and marketing of a similar product. As this sector has a vast work parameter every company focus on a particular area. Thus the pharma companies can be segregated on the basis of their focus area such as Pharma Manufacturing, Pharma Marketing, Pharma Distribution, Pharma Retail, etc.
Pharma Manufacturing business focuses on the research and development of the product, production of the medical products, packaging, labeling. They need to have a good expert team for production and also for making new products. Pharma Marketing deals with the launching and digital marketing of the product. Pharma distribution helps the product to be available in the local market. Pharma Retail is the pharma franchise that deals with the sale of the product to the citizen of that region. As the pharma companies focus on a particular area they can concentrate more on the growth of that particular area.
There is a long list of pharma companies in Panchkula and a few other nearby places where the pharmaceutical sector is growing is very fast speed. Pharma companies look into certain criteria to set up their business in a certain location. The cost of land is the most essential factor that is to be taken into consideration. For example, the reason for the long list of pharma companies in Panchkula and few other nearby places is for its low cost of land and also the availability of an adequate place for setting up a big warehouse. The transportation is also kept in consideration before choosing the location.
The availability of skilled and unskilled labor in a particular location or nearby is always a big problem. So before choosing the location the human resource factor is to be kept in mind. Climate also places a very vital role in the selection of a particular location for setting up a pharma company. In the selection of location, the ready availability of raw materials is very important so that there is a steady flow of raw material in the company.
Before selecting and pharma company for taking franchise a detailed study should be done. The first and the foremost thing to be checked is the certificates of authorization and its monopoly rights. Pharma franchise business is the most perfect business for the fresher pharma professionals, instead of seeking jobs they can start up a new business by investing a small amount of money and become an entrepreneur. Pharma franchise companies enjoy monopoly rights so they can have better control of their business. They can carry out many promotional activities to increase their profit margin.
There are many growing opportunities as the pharma franchise is the boss of its own. They can apply many creative ideas to make the product acceptable by the local customers. Working in a pharma company limits the growth rate whereas working as a pharma franchise company has no limit of earning and growth.