WHAT IS PHARMA FRANCHISE AND HOW DOES IT WORK?
Pharma Franchise is an enterprise that is run as a franchise. Let’s start with a definition of a franchise company. When a company allows an individual or another company to market its goods under their own name. It’s referred to as franchising a company.
A franchise agreement is a contract between a franchisee and a franchisor. The franchisee is the businessperson who will purchase the franchise from the franchisor.
WHAT EXACTLY IS PCD PHARMA AND WHAT DOES IT MEAN?
Pharma PCD (Propaganda cum Distribution) Franchise, like Pharma Franchise, refers to a pharmaceutical firm’s exclusive distribution and Monopoly rights granted to a Pharma distributor to use their business name or big brand on behalf of a company.
WHAT IS THE DIFFERENCE BETWEEN PCD PHARMA AND PHARMA FRANCHISE?
No, the both concepts PCD and Pharma Franchise are equivalent.
WHICH IS BETTER FOR THE CUSTOMER: A CD (CASH DISCOUNT) OR A SCHEME?
For the consumer, a CD (Cash Discount) is preferable. The following is an example:
For example, suppose a person wants to buy a box of medication that costs $100.
Customers would benefit more from cash discounts than from schemes.
WHAT ARE THE DIFFERENT TYPES OF GOODS TRANSPORT?
Air, water, and land transport, which includes rail and road, are the various modes of transportation being used goods transportation. The client must determine which mode of transportation is best for him.
| Name of transport/ Courier | Rate/kg (Rupees) Approx. | Time (Days) Approx. |
| VRL | 8-12 | 10-12 |
| TCI EXPRESS | 8-12 | 10-12 |
| TCI Freight | 8-12 | 10-12 |
| Shree Azad Transport co. Pvt Ltd | 8-12 | 10-12 |
| Nav Bharat | 8-12 | 10-12 |
| Jaipur Golden | 8-12 | 10-12 |
| Khushdil Roadways | 8-12 | 10-12 |
| Gati | 8-12 | 10-12 |
| ATC Assam | 8-12 | 10-12 |
| DTDC (Surface) | 50 | 4-6 |
| DTDC (Air) | 100 | 1-2 |
| The Professional (Air) | 100 | 1-2 |
| The Professional (Surface) | 50 | 4-6 |
WHAT IS THE DIFFERENCE BETWEEN GR/LR/BILTY?
The abbreviation GR stands for Goods Receipt. Lorry Receipt is abbreviated as LR. These terms are Bilty’s synonyms. When the material is loaded into the truck for delivery, the Transporter issues this receipt.
WHAT IS DRAFT ON DELIVERY (DOD) AND HOW DOES IT WORK? WHAT ARE THE TRANSPORTATION OPTIONS FOR THIS FACILITY?
Draft on Delivery (DOD) is a service that allows a customer to pay for his products with a demand draught at the date of shipment. The customer creates a Cheque in the bank in the actual company equal to the amount of goods and gives it to the same transporter, who then releases the products to the buyer.
SOME OF THE TRANSPORTERS That Have DOD FACILITY ARE AS FOLLOWS:
- TCI EXPRESS
- TCI FREIGHT
- VRL
- GATI
- SAFE EXPRESS
HOW DO YOU RECEIVE PAYMENT FROM A CUSTOMER AND WHAT IS ACCOUNT LEDGER?
A general account ledger is an account or record that is used to sort, store, and summarise the transactions of a business. All of a customer’s payment and sale transactions are reported in sequential order in the Account Ledger.
THE METHODS BY WHICH Transactions CAN BE RECEIVED ARE AS FOLLOWS:
- IMPS
- RTGS
- NEFT
- CASH DEPOSIT
- DEMAND DRAFT (DOD)
WHAT ARE THE PERCENTAGES OF PTR, PTS (INCLUDING GST) AND WHAT IS PTR, PTS?
The price at which products are sold to a buyer is known as PTR (Price To Retailer).
The price at which products are sold to stockist Q10 is known as PTS (Price To Stockist). WHAT
EXACTLY IS GST?
GST (Goods and Services Tax) is an indirect tax in India that has largely replaced other indirect taxes. GST is a sales tax that is collected at any point of sale.
The GST is a value-added tax imposed on most products and services sold for domestic consumption. Consumers pay the GST, but companies providing the products and services must remit it to the government. In practice, GST provides revenue for the government.
WHAT IS A DRUG LICENSE AND HOW DO I GET ONE? WHAT ARE THE DIFFERENT TYPES OF DRUG LICENSES Essential FOR HOWER PHARMA?
A drug license is required to begin the Pharma business. In India, drug licenses are issued by the central drugs standard control organization and the state drugs standard control organization. Normally, the substance control agency offers two forms of DLs. The first is a Retail drug license, which is given to anyone who operates a retail store. One is a Retail drug licence, which is given to someone who operates a pharmacy, and the other is a Wholesale drug licence, which is given to someone who wants to sell drugs in bulk. In certain states, only those with a degree or diploma in pharmacy from a recognised university are eligible for a retail drug licence.
We bill on both Retail DL and wholesale DL accounts at Hower Pharma.
WHAT ARE THE DIFFERENCES BETWEEN NEFT, IMPS, CHEQUE, AND DEMAND DRAFT?
NEFT: National Electronic Funds Transfer (NEFT) is an acronym for National Electronic Funds Transfer. It is a national payment system that allows for one-to-one money transfers. Individuals can electronically transfer funds from any bank branch in the country to any other individual who has an account with any other bank branch in the country under this scheme.
RTGS: Real Time Gross Settlement (RTGS) is the abbreviation for Real Time Gross Settlement. It is an electronic method of funds transfer in which the transfer occurs in real time. In India, RTGS is used to move funds for high-value transactions with a minimum sum of Rs 2 lakh. The funds are distributed in real time to the beneficiary account.
Demand Draught: A demand draught is a pre-paid Negotiable Instrument in which the drawer bank agrees to make full payment when the instrument is submitted for payment by the payee. The demand draught is payable to a specific bank branch at a specific location. In such situations, a demand draught is approved as long as the money transfer is assured. The demand draught is valid for three months.
Cheque: It is a document that orders a bank to pay a specific amount of money from a person’s account to the person in whose name the cheque has been issued it is issued by an individual. Cheque may be written only by an account holder. Cheque can be dishonored due to insufficient balance. But it may take 3-4 days to transfer the amount by cheque.
WHERE DOES THIRD-PARTY MANUFACTURING COME IN?
Outsourcing pharmaceutical products or getting products imported from other manufacturing units under your own brand names is referred to as third party or contract manufacturing.
WHAT EXACTLY IS CREDIT? HOWER PHARMA’S CREDIT POLICY IS AS FOLLOWS:
Receiving something of value now and agreeing to pay for it later, usually with a finance fee added by the lender, is referred to as credit. The credit policy of Hower Pharma is that no credit is sold, and if credit is sold, the consumer must have a bank guarantee against the credit amount.
WHERE DOES PI COME FROM AND WHAT DOES IT MEAN? WHAT’S THE DISTINCTION BETWEEN PI AND TAX INVOICE?
PI – Pro forma Invoice is the complete form of PI. A pro forma invoice is a bill of sale that is submitted to customers prior to the shipment or distribution of products. The invoice will usually include a description of the products purchased as well as other pertinent details such as prices, MRP, Batch number, and expiration date. For Input Tax, PI is not true.
Invoice for taxes – An invoice is a commercial document sent to the customer that contains information about the seller’s goods or services. For Input Tax, the Tax Invoice is correct.
COMPILE A LIST OF ALL HOWER PHARMA PROMOTIONAL MATERIALS.
The following are some of the promotional materials given by Hower Pharma:
- MR Bag with Hower Logo
- Brochure
- Catch covers
- Key chains
- Visual Aid
- Prescription pads
- LBL
- Pens
- Paperweight
- Diary
- Trail Pack
- Visiting card
- Brochure
WHAT DO YOU MEAN BY MONOPOLY RIGHTS?
The term “monopoly” refers to a company that is the sole provider of a particular product in a given region. The market is controlled by a single individual or company in a monopoly. According to the agreement, a Pharma Franchise monopoly agreement implies one individual or business at one venue. If you want to get the monopoly right, you can search for a vacancy in the specific place you want.
WHERE DOES THE SALES TAX COME FROM?
A sales tax is a fee levied on the selling of such products and services that is charged to the government. Sales tax is imposed on the selling of manufactured or imported products and services. Sales tax is not charged again if the same goods and services are resold without any value addition. Both the federal and state governments have power to levy sales taxes.
WHAT IS THE DIFFERENCE BETWEEN WHO AND GMP?
The World Health Organization (WHO) is a United Nations specialist agency that deals with international public health. The WHO quality assurance framework ensures that goods are manufactured and regulated in accordance with WHO quality standards. The WHO manufacturing method is more stringent than GMP.
GMP stands for Good Manufacturing Practices, and it is a framework for ensuring that goods are continuously manufactured and regulated in accordance with quality standards. GMP encompasses every aspect of manufacturing, from raw materials, facilities, and equipment to employee training and personal hygiene. There must be processes in place that provide recorded evidence that proper protocols are followed continuously during the manufacturing process – every time a product is made.
The WHO-GMP certificates are extremely valuable. These certificates demonstrate that the company’s quality is upheld in each department (in the case of the GMP certificate) and that it is also manufacturing formulations that meet international quality requirements (in case of WHO GMP certificate).
WHAT’S THE DISTINCTION BETWEEN ETHICAL, PCD, AND GENERIC MEDICINE?
Generic drugs are identical to ethical medicines in every way, including power, dose, effectiveness, effects, and uses, but they are less expensive than branded or ethical products. The same is relevant with PCD franchise medicine; the same medication is used as in generic and ethical cases. The only difference is the delivery channel. We can’t tell which medicine is better because medicine is medicine, manufacturing is manufacturing, and raw material origin is the raw material origin. The marketing team is the one that makes the difference.