Benefits of starting your own Pharma Franchise Business

 1. Work for your own Business:-

The first important benefit is owning your own business. You can set up everything according to your choice whether its your office, working timings, locations, targets, expenses, rules & regulations, etc.  You will be working as an entrepreneur and can full fill your dreams.

2.  Ready Available Product:-

These days the competition is very high in the Pharmaceutical market and it is not an easy task to introduce new product in the market with new brand name. It also takes lot of expenses in research and development of the products to make it effective. Even it also involves lot of paperwork if you want to get your product manufactured from some other sources. So you need not to take all such types of burdens if you are starting business as a Franchise associate as all these jobs are done already. The brand is already established and known to the customers, you only have to focus on product sale.  

3. Support by Parent Company:-

As a franchise your company is responsible for the parent company’s brand name and the reputation of their product. In this way a franchise company is not working independently. The parent company regularly watches the performance and returns of Franchise companies and where ever they need any help or support, parent company provide backups in the form of training and other technical support.

4. Monopoly Benefits:-

When you take pharma franchise from a company, you get monopoly rights also which means that the division you are doing for a particular location will not be assigned to any other person. This will help you to get long term returns from your business in your selected location.

5. Excellent Return on Investments:-

This is the most important factor as far as Pharma Franchise business is concerned. Franchise of a Pharma company represents best return on investments. The amount you invest for taking pharma franchise, in return of that you will get Complete company support, training, Product Know how, years of Researches (which will costs a huge amount if you consider it on your own) and an established brand name.    `

Finally I would like to say that there is no doubt that there are high chances of returns on pharma franchise business with backup support and growing market but on the other hand you also have to survive in highly competitive market and cope up with pharmaceutical strict rules and regulations.  

Fun at Solace Biotech Limited

This is a beautiful Bhangra Dance by our Two Solcrat at the Birthday Celebrations on 06.09.17 at our office. Must Watch this Video.

Review of Solace Biotech Limited-By Mr. Sudhir Prashar from Amritsar, Pu...

This is a video review of Mr. Sudhir Prashar from Amritsar, Punjab. He is associated with our company from last few years and one of our happy and satisfied customers.

Review of Solace Biotech Limited-By Mr. Yogender Singh

One of our Happiest Solmate from Uttar Pradesh giving his views about Solace Biotech Limited.

Review of Solace Biotech Limited-By Mr. Rajesh Malik

This is a video review by Mr. Rajesh Malik Ji from Shamli Uttar Pradesh. He is one of our happy and satisfied customer and associated with us from a very long time.

The Importance of Quality over Price/Quantity

From our childhood, we taught about the concept of Quality over Price but it's one that fits like a square peg in a round hole in today's corporate environment. The reason that it's so hard to emphasize quality over quantity is simple - businesses are established to make money as quickly as possible and at the highest possible margins. According to me, both Quality and Price are opposite words, when we go for a Best Quality then we have to bear high price and if you go for Low price then its automatically understood that the Quality will also be low. People do business for earning profits, which will occur only if they will get good margin on their .products. For achieving high margins, they search low price products and ready to compromise with the Quality of the products. Now What will be the results?

There is also another fact that business will run and grow only if they get regular Sales and the sales can be achieved only if the Quality of the products will be good. Only if the customers are satisfied with the results of your products. According to me, Goods Things never come from Comfort Zone. If you go for Quality products, one thing is clear that it involves greater investments but this will also results in high Rates of Return with potential customers and they will be associated with your business for long life.

A Quality satisfied customer will understand the value and care of your products which will also increase mouth to mouth publicity and provide referrals to your business. This is also true that doing investment in Quality Products may seen to be risky at initial stages but having a product that stands out means that your business get noticed and remembered for the right reasons. Customers do judge your products by their Packing, Attractive Designing, the quality of information provided, the presentations etc.

Pricing is a strong psychological component which can manipulate customer’s decision making. Keep the pricing high, and the customer will think that the quality must be high too. This expectation of the customer is because he wants to receive value for his money. So when he is paying more money, he is expecting more value.

These are the few things which is to be kept in mind.

1. The customers want only the "value for their money".

2. There must be some unique features in your product if the price is high.

3.  At higher price, the first purchase is most important and will require higher

     investments from the company in terms of advertising and communications.

Quality means Brand and it gives satisfaction. Remember one thing that there should always be a cheaper option available but at what cost? it is usually at the cost of Quality.

So Overall summary is that never go for low price product business because as we compare it with Quality products, it can give you high margins but also will take no time to end up your business entity from the market when customers fail to come back. Favoring quality over quantity will increase your company's reputation and increase product loyalty, which will keep your business sustainable in the long run.

Visit us at Solace Biotech Limited

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