Creating a strong franchise network is very crucial to the success of our business: Siddharth Singhal
Vibcare Pharma Pvt. Ltd is a growing PCD Pharma company in India, committed to increase access to high-quality healthcare by developing, producing and marketing affordable drugs in Domestic as well as African, CIS and South Asian Markets. It is known for its outstanding PCD model and tremendous support to the franchisees. We spoke to the talented Director Duo of the brand- Siddharth and Sudhanshu Singhal on their plans for the brand and how are the franchisees getting benefits from their PCD model.
Firstly, tell us about the PCD model you follow.
Pharma Franchise or PCD (Propaganda Cum Distribution) refers to the authorisation granted by pharmaceutical companies to an individual Pharma Professional or Distributor that allows them to carry out pharmaceutical companies’ proprietary knowledge, products, trademarks, brand names and other commercial activities with monopoly rights in a particular area. We at Vibcare Pharma follow a similar model of Pharma Franchise / PCD wherein we give a Pharma Professional the rights to use our products, brand names, technical knowhow and tools of marketing for a minimum goods order. Our Franchise is given on a monopoly basis in a defined territory (district) for a defined tenure (1year).
Tell us about your presence in India.
We have over 1000 customers in the country. Our Franchisees range from Jammu & Kashmir to Kerala and from Gujarat to North East. Some of our biggest customers are from Central and South India.
How are the franchisees getting benefits from Vibcare Pharma in terms of its PCD model?
- 1.Business Opportunity
- 2.Growth opportunity
- 3.Flexible Work Hours
- 4.Monopoly Rights Agreement – Low Competition
- 5.Quick Start
- 7.Wide Product Portfolio
- 8.Low Risk Involved
- 9.Marketing Tools
Tell us about your franchise programs.
We offer a portfolio of more than 250 high quality products ranging from Antibiotics, PPI’s, Pain Killers (NSAIDS), Anti Allergic, Multivitamins, Cardio Diabetic, Neuro Psychiatry (CNS), and Dermatology to our Franchisees. All our products come in latest attractive packaging. Our franchise program allows Pharma Professionals to start a franchise instantly. All we require is:
- 1.Valid Drug License
- 2.Valid TIN (Tax Identification Number)
- 3.List of molecules or products he / she is interested in working with.
- 4.Professional Career Information
Our company provides Pharma Franchise at a minimum value of Rs 40,000 (Depending on the District). The Pharma Franchise is allocated on a Territory Basis (usually District Wise) to the Franchisee. The Franchisee works on the principle of Monopoly Rights which are awarded to him / her through a Valid Agreement. The tenure of this agreement is One Year (renewable).
Along with the Monopoly Franchise, the Franchisee is also given free marketing tools like Bag, Visulate, Literatures, Sample Catch Covers, Reminder Cards, Pens, Key Chains, Prescription Pads, etc, on a continuous basis.
According to you, what are the challenges in franchising model with Pharma industry?
- False Expectations of Franchisees
- Lack of Business Operations experience in Franchisees
- Low Risk Capacity in Franchisees
- Lack of Patience in Franchisees
- Lack of Capital availability in Franchisees
- False value propositions offered by Franchisors
- Compromise on product quality and ethics by the Franchisors
You do contract manufacturing too. How is it beneficial?
Yes we do contract manufacturing too. Our value proposition is simple – high quality products at the most affordable rates. Contract Manufacturing is a natural progression phenomenon in Pharma industry. All our Franchisee Partners eventually one day or the other would want to get their own products manufactured. Thus, we believe that if natural progression has to happen, then why not be of service to them.
What precautions you take in terms of trademark professionalism?
We have more than 100 Trademark Brands. Trademark of our brand names is very crucial to our business. We ensure that all the products that we launch in the market have been applied for trademark prior to their launch. Getting the products trademark not only gives our Franchisees the psychological security, but also helps them to distinguish the products when compared with competitors. We have hired a professional trademark filing agency for all our trademark needs.
What kind of top most technologies you are using to develop your franchise network overall?
Creating a strong franchise network is very crucial to the success of our business. To achieve this goal we have an In-House IT team to take care of all our technology related needs. All our marketing efforts are emphasised on digital platforms like Facebook, Google, Twitter and Google Plus. We follow CRM and ERP systems to achieve greater results both, outside and inside the organisation.
Apart from a strong focus on customer acquisition, we also stress on providing our existing Franchisees with the latest technologies available in the market. We will soon be launching a CRM tool for our Franchisees where they would be able to manage their doctors and orders.