India’s pharmaceutical industry employs more than 1 million people and is worth about $20 billion annually. In terms of production, India is the second-largest producer of pharmaceutical products in the world after China. With the Veterinary Drugs Control Act being implemented from September 2016, the scope for setting up a business as a veterinary pharma company in Maharashtra has opened up substantially. If you are thinking about starting a veterinary pharma franchise in Maharashtra, you are making an excellent choice. This sector is growing at a fast pace and is also on the lookout for better opportunities to expand its operations further. The demand for veterinary medicines among livestock and other animals has increased manifold in the last few years. Many people own small farms or keep pets. So, there is scope for opening more veterinary PCD pharma franchise company in Maharashtra.

We will give you 5 tips to help you establish a successful veterinary pharma business in Maharashtra. Doing so requires careful planning of each step along the way, but if you keep these tips in mind, it should be easy.

Research the Market Before Launching

Before you even think about setting up a veterinary pharma franchise in Maharashtra, it is important to research the veterinary drugs market to understand the potential for growth. By conducting a SWOT analysis, you can understand the key opportunities and threats in this business sector. Although India is a major producer of pharmaceutical products, the country still imports a large quantity of veterinary antibiotics. This is because a lot of the businesses producing veterinary antibiotics are relatively small. A high proportion of them are small businesses and have no more than five employees. If you look at the market as a whole, there is a massive potential for growth.

Ensure Product Quality

If your veterinary drugs are not of a high quality, you are not going to get a lot of business. This is particularly important in the veterinary sector because the products have to be extremely safe. Since the Indian government is monitoring the safety of these drugs very closely, you have to make sure they are above standard.

Set Up a Reputable and Responsible Supply Chain

A successful veterinary pharma company in Maharashtra depends on having a reliable and reputable supply chain. Your customers will want to know exactly where the products are coming from and how they are being handled during the transportation process. To maintain a reputed supply chain, you can rely on a Third-party Inspection (TPI) provider. Since the Veterinary Drugs Control Act 2016 has been implemented, a lot of people in the supply chain have become cautious. If you can maintain a reputable supply chain, it will help build your reputation as well as expand your business.

Hiring is Very Important

If you are looking to set up a successful veterinary pharma company in Maharashtra, it is important for you to hire the right people for your business. This is particularly important if you are looking to develop your own products. When you are producing your own products, you ideally want to have full control over the production process. In this way, you can ensure that your products are safe and of high quality. If you are hiring people to work in your production unit, you should ensure that they are qualified and experienced. It is also important for you to hire people who are honest and trustworthy. You can do a background check on the people you are hiring to find out their reputation and experience.

Be Careful with Advertising and Marketing

When you are looking to set up a veterinary PCD company in Maharashtra, it is important to be careful with your advertising and marketing strategies. You definitely do not want to create any misleading or false impressions about your product. This will only do you harm in the long run. One way to do this is to get in touch with the advertising authorities in your country. Find out what needs to be done to advertise legally. In addition to that, you mustn’t mislead your customers, either intentionally or unintentionally.

Conclusion

If you want to set up a veterinary pharma franchise in Maharashtra, it is important for you to keep the above tips in mind. Doing so will help you produce high-quality products and successfully market them to customers. In addition to that, you can also ensure that your business has a reliable supply chain and hire the right people for your organization. Lastly, you should also be careful with your advertising and marketing strategies.