What are the Requirement to Start the Pharma Franchise Company?

Pharma franchise is a great business opportunity and many are moving forward to start it. The business offers you a great market, excellent profit margin, and great business opportunity. Many companies across India offers the pharma franchise business. It is the easiest way to do business in the pharma sector. There are various segments in which you can pursue the business.

Starting a franchise is a very systematic thing to do. You need to research the company, your region and other related things. There are some requirements to start a business. If you don't fulfil the requirements, you will not be authorised to do the business. These generally include documents. Other requirements which can be there are those which the company imposes. In this article, we will discuss in detail about these requirements.

Documents Required For Pharma Franchise

Legal registration is necessary. There are certain documents which are very important if you want to start the pharma franchise business. The documents are mentioned below.

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• You must have a registered company. Along with it, you also need a GST number.
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• Permanent Account Number (PAN): Income tax department is responsible for it. It can be applied online and you will get number within a month.
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• Food Safety & Standard Authority of India (FSSAI): FSSAI is a government body specific to do one job and that is to monitor the quality and safety of the food products.
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• Drug License Number: The Central Drugs Standard Control Organization is responsible for drug licences. You have to fill an application and apply for it. There are two different types of drug licenses available - Retail Drug License (RDL) and Wholesale Drug License (WDL). There is a fee which you have to pay.
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Qualification

It is generally imposed by the company. Some company requires experience from your side. You need to be from the pharma sector to start the franchise business with that company. Some may ask for experience of 5 years too. So if you are aiming for some company, make sure that you fulfil the minimum experience. Plus most companies only prefer people from pharma background.

Warehouse or Storage Facility

You need a warehouse to store the products. For franchise and also for obtaining the above documents, you need to show the rent agreement or legal papers. Also, you must have all the necessary tools and equipment to maintain the warehouse.

Procedure to Start the Pharma Franchise Company

Once you have fulfilled all of the above requirements, you are ready to start the franchise business. Now you have to check the vacancies of the company, and see whether your desired region have the vacancy or not. If the vacancy is a green light, then you can apply for the pharma franchise. If not, then you should move to the next prospective company. Below is a procedure to start your franchise

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• Choose the most suitable company for you. Suitability can be judged by your pharma requirements.
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• Ask them for the vacancy. If the vacancy is available, move on to the next step, if not search for another company.
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• Ask the company in detail about the products range, pricing and terms of condition.
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• Compare them with other companies.
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• Once made the decision, apply for the franchise, do the basic formality and you are good to go.
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Conclusion

We discussed the requirements before the franchise business. The company requires you to fulfil those requirements. For the smooth run of the business, it is good for you to get all the documents.