How to Start Pharmaceutical Marketing Company?
Five Steps to Start Pharmaceutical Marketing Company
Starting pharmaceutical marketing company could be a good choice if you have experience in the niche. In the backdrop of encouragement given by the Government of India to startup businesses, it becomes relatively easy.
Healthcare and pharmaceutical sectors are showing a good growth, and it seems that the future is pretty bright. Therefore, the early you start the business, the better it is.
The process involves various steps. You need to gather these things from recognized and valid sources. The Internet makes the task pretty simple.
You should browse through the web pages, and you can find every bit of information at clicks. Experts say that primarily there are five steps to start a pharmaceutical marketing company.
- Register the company
- Obtain Drug License Number
- Get registered for GST
- Get the trademark registered
- Get FSSAI registration
Out of the five steps, the first three are mandatory to start.
Write a Business Plan
You are supposed to get training and experience to start the marketing company for pharmaceutical products. You need to prepare a detailed business plan as well.
Choose a good premise for your office. Whether it is rented or bought, you should have enough space as per the norms issued by the government.
Invest money from your pocket or borrow from financial institutions.
Make sure you choose the right name for your company and brands. The brand name, company name and logo should not resemble any existing entity. You should do a thorough research for this because any similarity (intentional or unintentional) may drag you in troublesome situation.
Register your company under the company act
It is very important to register your company as per the norms and guidelines. Wholesale drug license number is needed. You need to look for third-party manufacturers if any.
It is better to seek a consultant instead of reinventing the wheel. A professional consultant has thorough experience in the niche. Hence, it can help well.
Get the drug license number
To obtain the complete details about the process of obtaining the drug license number, you should meet the local drug inspector and drug selling authority. Get complete details from the authorities and proceed further.
There are some basic guidelines such as one of the partners should be a registered pharmacist or an experienced person with a registration under local authorities.
If none of the partners qualifies this condition, then you should hire a registered pharmacist, and he has to be authorized to manage the things on your behalf.
You are supposed to submit a few documents such as affidavits, the blueprint of the premises, electricity bill, and ownership agreement or rent agreement, partnership deed, etc. It is just an indicative list, not all-inclusive.
Get the GST Number
GST is the latest introduction in our country. Yes, it is essential to have the GST number within three months if the turnover is more than 2.5 Million.
The turnover is not the only criterion, though. There are several facets of GST rules and regulations. Better you avail services of an expert.
These are the steps of launching a pharmaceutical marketing business.
If you want to set up pharma business in any part of the India, just give us a call, and we will explain all the details regarding our pharma franchise in India. To know more about our PCD pharma franchise companies, you can call us at 98259 65521. You can also write down to us at firstname.lastname@example.org.
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