Pharmacy-connected distributors (PCD) are a fast-growing segment of the pharmacy industry, and these franchises offer a nice opportunity for pharmacists who want to own their own business. A PCD pharma franchise is an independent business that sells pharmaceutical products directly to other businesses and operations as a wholesaler.
A PCD pharma franchise differs from other types of franchises in that you operate as a wholesaler rather than as an outlet with customers directly. But, like any other franchise, operating a PCD pharma franchise comes with many pros and cons. Read on to learn more about whether this is the right business opportunity for you and what it takes to get started as a PCD pharma distributor.
1. PCD Pharma Franchise is a fast-growing business model
A PCD pharma franchise like Vivaceutical represents a business model that is growing quickly in the pharmaceutical industry. Because you operate as a wholesaler and sell directly to other businesses, you don’t have to deal directly with customers, and that helps to open the business up to a wider market.
The PCD pharma distribution business model helps to connect businesses that need pharmacies with pharmacies that carry the necessary products. PCD pharma distributors help to facilitate this process by carrying the products that pharmacies need at their warehouses and then shipping the goods directly to the businesses that need them.
2. It’s a highly profitable business
While profitability varies from one business model to another, PCD pharma distributors earn profit margins of around 25% to 30% on each product they sell. That means that even if you don’t sell a large number of products each month, you can still make a nice profit.
Because you operate as a wholesaler, you don’t have to carry a large amount of inventory, which means that you can minimize the amount of money you put into the business. And, because you’re selling to other businesses, you don’t have to worry about collecting payments directly from customers. All of these factors contribute to profitability.
You also have the potential to expand your business as you acquire more customers. This is particularly true if you focus on acquiring businesses as customers, since you can expect these customers to purchase products on a regular basis. As your business grows, so does your potential for profit.
3. It offers flexible payment options
A PCD pharma franchise has flexible payment options for both the businesses you sell to and the customers you sell product to. When you sell to businesses that purchase pharmaceutical products, you can offer customers a wide range of payment options, including credit terms.
This gives businesses flexibility when purchasing products from you, which can help to increase their purchases. As a PCD pharma distributor, you have the option to offer similar payment options to the customers you sell to directly.
This can help you acquire more customers and increase your sales. By offering flexible payment options to both parties, you help to increase sales and make the entire process easier for everyone involved.
4. It provides assistance with marketing and branding
When you operate a PCD pharma franchise, you have the potential to receive assistance with marketing and branding your business. Although you might need to put in some effort to develop your marketing strategy and branding, your franchisor might help you along the way.
Depending on the franchisor you choose, you might receive assistance with marketing and branding your business through printed materials, online guides, and in-person training. This can help you to develop a strong marketing strategy that increases sales and attracts new customers.
During your in-person training, you also might receive assistance with branding your business. This can include everything from logo design to website creation and can help you to make your business stand out from the rest.
5. It has instant recognition and credibility in the market
Since PCD pharma franchise owners sell products to businesses, you already have instant recognition and credibility among business owners. Business owners have a high level of trust in pharmacies and the products they carry.
As a PCD pharma distributor, you can build on this trust and earn a good reputation among businesses. Business owners may look to you for a variety of products, including medical supplies, first aid supplies, and even business supplies.
This gives you a wide opportunity to earn sales and increase your revenue. When you operate a Pharma PCD Franchise, you have instant recognition and credibility among business owners, which can help you to grow your business and increase your revenue.
6. With PCD, you have access to operational expertise and support
When you operate a PCD pharma franchise, you have access to operational expertise and support from your franchisor. By partnering with a franchisor that has experience in the industry and in franchising, you can count on receiving guidance and support as you build your business.
This can include help with assessing potential locations for your business, determining the best products to sell, and finding suppliers for those products. It can also include help with hiring employees, managing your finances, and marketing your business. By partnering with a PCD pharma franchise, you have access to operational expertise and support, which can help you to build your business quickly and efficiently.
If you’re a pharmacist looking to own your own business, a PCD pharma franchise is a great option. This business model is growing quickly, has high profit margins, and offers flexible payment options. It also has instant recognition and credibility in the market, and you have access to operational expertise and support.