Starting with a business is at a far distance, the thought of starting it only have the risk which you cannot ignore. I hope you are not getting me wrong here. I am not here to fear you at all. Many take the risk and starts their business successful and you can too do that. You can allay these risks by taking some of the precautions.
For instance, starting a PCD franchise is a profitable business opportunity and it is providing you to join hands with a decent pharmaceutical company. What’s the best part here is, it ensures the success in business because of an impressive product line and the convenient business terms.
However, here a question arises. Now, how will you find out whether you are associating with an encouraging company or not? This is a matter of trust. And without trust, no business stands out.
Now before cracking the deal off, you need to have this answer with you. Experts suggest that this is possible via background checking.
However, you totally rely on the success of your business, it’s worth spending some time on the research about the pharma company you are tieing up with. Remember, you must not get surprised later because of any lacking in research at present. You need to find the history very efficiently and effectively. Its better for you.
What is this PCD Franchise Business?
Firstly let’s start with the full form of PCD. PCD stands for Propaganda Cum Distributor. It is a business model where the pharmaceutical manufacturer signs up the agreement with the distributors.
Now, what is this agreement? It is based on some terms and conditions for promotions and marketing. The supply of products is done at the net rates and the distributors have the monopoly rights for the specific territory.
It is important to go through the agreement and check if there is minimal commitments or fixed rates. Checking out the history can help to determine which product to go for.
Are you going to manage the promotional stuff or the company will provide?
To answer all these questions you need to put efforts.
Wheres and Hows of Getting the Information…
You need to go through different resources to get a different type of information.
For instance, if you need the internal information of the company, you need to go behind the people who work there. Obviously, it is not an easy task until you don’t have a closer friend from that company.
Every company has some of the policies and there the people are bounded to tell you the internal information. As the company might have the confidentiality agreement and on the violation of it, the strict actions are taken. Therefore people might not open up with you taking the risk on the job.
However, you must try out every possible way to get the internal information of the company.
As far as the external information like annual sales figure, product list, turnover, and profitability. You can find this type of information on their website or the internet.
Finance magazines and periodicals are also great ways.
You can discuss the business terms and conditions with the company. It might be possible that you can get relevant information by probing further.
No matter what method you adopt for, but it is necessary that you get the information about the company, internal and external before you can crack the deal and shake hands.
If you don’t find out about the company you want to tie up with then there are chances that you would be getting surprises(the bad ones) in your further business career. And if that happens, I fear you might end up drastically and must say dramatically.
Before starting out the PCD franchise, check out the information of the pharmaceutical company with whom you are going to tie up. Check out all the pieces of information carefully and then decide whether to tie up or not. Many companies work on their own terms and conditions. So if you find suitable to work then go for it.
The agreement doesn’t mean to promote the pharmaceutical company only, you need to do your promotion and marketing too. Because every company and business needs marketing and promotion to become successful. I hope you get the information you want and get going with your startups.