There are challenges in every business and the company that faces these challenges and
overcomes them becomes a successful company. PCD Pharma Franchise Companies are
developing rapidly but no company can run in a better way without any challenges. Although PCD franchise companies provide complete support to their franchise and provide proper services to the clients, there are some challenges which have to be faced through PCD companies. It has been explained in detail below what challenges a PCD franchise company faces to run its business smoothly and to become a well-reputed company and how to overcome them–
Highly Competitive in Market
There is a baddi district in Himachal Pradesh, India which is considered the pharmaceutical hub of whole Asia, where many Best PCD pharma Franchise company in General Range are established. Not only this but I don’t know how many well-reputed companies there are in the whole of India, due to which the competition is increasing. New companies have to face a lot of difficulties in front of well reputed branded pharmaceutical companies
Solution: whom you should follow
1. Choose a well established company whose brand name is strong and famous.
2. Apply consumer-related strategies and marketing techniques.
3. Supply products at affordable prices and offer attractive distribution and promotional
schemes.
Problems regarding Monopoly Rights
Monopoly rights are only available when a company promises a franchise the monopoly right and fails to implement it, due to which competition increases within the same brand in a given sector.
Solutions
1. Define all the terms of monopoly right clearly and in detail in the written agreement.
2. Choose such companies that fulfill their commitments.
3. Do research before doing the deal with the company.
Availability of Inventory and Accuracy in Delivery
Some franchise owners are not able to supply the product on time, which has a huge
impact on their business and the growth of their company.
Solution: Necessary for growth
1. Partnership with a PCD pharma company whose supply chain is strong and robust.
2. Maintain proper stock to avoid product storage.
Regulatory Compliance & Licensing
Every pharmaceutical company needs some type of license to run its business, which
includes drug license and GST license. If a company does not follow its rules and
regulations properly then it can get into legal troubles.
Solution
1. Obtain all the required licenses which are necessary to run a pharmaceutical company.
2. Government rules and regulations should be followed properly.
Distribution Network
To build up a strong distribution network, a PCD company has to establish its reach to
medical stores, hospitals and clinics.
Solution
1. For a good sale, focus on medical representatives and also on doctors.
2. Offer new and attractive opportunities to distributors.
3. Use digital marketing to advance your brand name.
Collection issues in payment
Due to delay in receipt of payment from retailers and distributors, the company may
face cash flow problems.
Solutions
1. Explain the terms of payment clearly.
2. Provide a discount scheme on timely payment.
Conclusion
Well, we have discussed many types of problems and found solutions for them, but a
pharmaceutical franchise company faces all these problems and it solves them with the
help of better marketing strategies or techniques and a better reliable PCD Pharma in General Range
