The Indian Pharmaceutical Industry – 2022

                                                                                                                  Written By : Srividya.

The Indian pharmaceutical sector has developed over time into a robust industry, rising at a CAGR of 9.43% over the past nine years, and is currently ranked third in pharmaceutical output by volume. Some of the key sectors of the Indian pharmaceutical business include generic drugs, over-the-counter medicines, bulk meds, vaccines, contract research & manufacturing, biosimilars, and biologics. India is home to the most US Food and Drug Administration (USFDA)-compliant pharmaceutical production facilities, with 500 API companies accounting for around 8% of the global API market.

Over 50% of the world's demand for various vaccines is met by the Indian pharmaceutical industry, as is 40% of the US market for generic drugs and 25% of the UK market for all medicines. The domestic pharmaceutical sector includes 3,000 drug companies and 10,000 production facilities. India occupies a key position in the global pharmaceutical market. The country also has a big pool of scientists and engineers who could advance the industry to new heights. Currently, Indian pharmaceutical companies provide more than 80% of the antiretroviral medications needed to treat AIDS (Acquired Immune Deficiency Syndrome) throughout the world. India has earned the title of "pharmacy of the world" thanks to the affordable prices and superior quality of its pharmaceutical products.

Market Size

Source: IBEF

 India is the biggest producer of generic drugs in the world, contributing 20% of the total volume supply and 60% of the demand for vaccines worldwide. Worldwide, the pharmaceutical industry in India is valued at $42 billion. The Indian pharmaceutical market grew by 17.7% yearly in August 2021, up from 13.7% in July 2020. India Ratings & Research predicts that the Indian pharmaceutical market would generate over 12% Y-o-Y growth in sales in FY22.

 

India is the world's No. 12 exporter of medical supplies. More than 200 nations throughout the world receive Indian medications for export, with the US serving as the largest market. The country is the world's leading supplier of generic medicines with 20% of global exports made up of generic drugs. In June 2022, Indian pharmaceutical and medicine exports totalled $2,119.08 million USD.

 

With a cumulative outlay of Rs. 6,940 crores (US$ 951.27 million) from FY21 to FY30, the Department of Pharmaceuticals introduced the PLI scheme to boost domestic manufacturing by establishing greenfield facilities with minimal domestic value addition in four discrete "Target Segments." This was done to achieve self-reliance and reduce import dependency on the nation's essential bulk drugs.

India's pharmaceutical sector contributes significantly to the country's exports and has attractive prospects for investment. India also runs a sizable number of facilities that adhere to Good Manufacturing Practices (GMP) standards set by the World Health Organization (WHO) and the United States Food and Drug Administration. Millions of people around the world receive affordable and low-cost generic medications from India (USFDA). India has traditionally retained the top position among countries that make pharmaceuticals. Over the next five years, India's medical spending is expected to increase by 9–12%, making it one of the top 10 countries in the world. Future domestic sales growth will also be influenced by companies' capacity to focus their product portfolios on chronic therapies for diseases including cardiovascular, anti-diabetes, anti-depressants, and anti-cancers, which are on the rise. The Indian government has taken numerous measures to cut costs and lower healthcare costs. The opening of pharmacies that provide low-cost generic medications as well as other government initiatives, such as the National Health Protection Scheme, which aims to provide universal healthcare, the aging population, the rise in chronic diseases, and other factors should all help to strengthen the Indian pharmaceutical industry. The quick entry of generic medications into the market has remained a priority and is anticipated to help Indian pharmaceutical companies. Additionally, the focus on preventive immunizations, life-saving medications, and rural health programs bode well for the pharmaceutical industry.

It’s “the time” for Pharmaceutical business owners to focus on their franchise business expansion and attract Investments, and business partners by franchising their pharmaceutical business. Connect with Sparkleminds today for all your franchise-related queries. Sparkleminds have 500+ franchise successful & satisfied clients, now it’s your turn! Join the successful community to achieve great heights in business. Act now!

How to choose the best business in Chennai?

Starting a business in Chennai

Selecting the appropriate franchise in any city, leave alone Chennai, is a very crucial step.  Before taking a decision, a few elements should be considered which will help you categorize the best business in Chennai. Depending on your investment and the industry you wish to invest in, there are many factors which govern your decision.

Cost

How much you would be investing into the franchise, is a crucial part.  If you are seeking to invest a modest amount, you should research the possible options that fall under your investment bracket, which will be beneficial and give you good returns on your investment.

 Brand

Another crucial aspect of operating a franchise is selecting the right brand.  You should only select brands that are well-known in the marketplace.  This will help you get a good customer base as you will be known and noticed by the brand you are dealing with.

 Location

To attract more clients, it is necessary to have a franchise in an area having good footfall, like high traffic marketplace, near bus stands, close to malls or any good location which can cater for the need of your business.

 

We at Franchisebazar, help entrepreneurs in getting their choice of franchise business in their desired city as per their desired investment.  Now that you are choosing to franchise business in Chennai, and we have considered some elements before taking up a franchise business in India, let us talk about Chennai and its opportunities. 

 

Chennai is the sixth most popular metropolitan city in India, and also the capital of Tamil Nadu, thus making it an economic powerhouse where there is a huge scope for new business opportunities.  Chennai has done extremely well and has grown across sectors in the past few decades, which has further resulted in many business opportunities for people wanting to start their businesses.

 

Chennai is famous for a lot of things, from its Chettinad Cuisine to art and culture and travel, the state is always bustling with people.  It is also known as the leading industrial hub.  The strong infrastructure has been able to position the city amongst the best industrial hubs in India. Let us look at some of the best business ideas in Chennai.

Franchise Model

One of the best businesses is to sell different products or brands' services in the form of a franchise business model.  Approaching a big brand which has multiple chains, you can buy their franchise to open it as one of your outlets.  Nevertheless, you can also start a FranchiseBazar and be the first in your city which helps entrepreneurs looking to get into the franchise business in India.  Even though this is a competitive industry, the returns are very good.  So if you are looking to start a FranchiseBazar and be the first in your city to own one, you can call and speak to our consultants who can guide you across this journey.

Café

Being a metropolitan city, the people of Chennai are always on the lookout for good cafes where they can hang out and spend some leisure time with some good food and beverages.  Today café chains are booming in India, so taking a café chain franchise is a growing opportunity in Chennai, as food and beverage are not season based, and they never fail.  Choose a nice location, pick a nice franchise brand and your work is done.

Travel and Tourism

There is a lot to explore around Chennai, from visiting some of the popular heritage places to having a great time shopping or even the beaches, Chennai has it all.  You can shop for traditional fabrics or even feast on authentic local food, people come to Chennai for many reasons.  You can have a taxi and travels business which will run successfully. Or a tourist guide who sells well-curated tours based on various interest of people or have a travel agency and manage hotel and travel bookings.  This is a growing opportunity as there is a lot to see in and around Chennai.

Local Food Business

Opening a local food stall, or a restaurant franchise is one of the most popular business ideas in India.  Especially in the south, this is food heaven.  Tourists are always on the lookout to try and find out places which cater to the local food, providing it hygienically and also at an affordable price.

Tea Franchise Business 

One of the most profitable businesses in India is the tea stalls which you can locate at almost every corner in most cities in India.  Nevertheless, it also requires a moderate amount of investment.  Setting up a tea stall at a prime location and gain you huge profits as Indians love their tea, no matter what time of the day it may be.  You can also take up a tea franchise of a well-known brand, and grow tremendous profits. 

To Conclude, 

Starting a business in Chennai is a very profitable idea.  Just remember to choose the right one with the amount of investment you have and you can expect good returns in a short period.  Nevertheless, we have our consultants at FranchiseBazar who can also guide you on which business is best for you in Chennai, what are the latest franchise opportunities in Chennai, best business opportunities in Chennai.  So call us today to keep yourself updated.

Best Business Franchise to Start in India

A wise decision which many entrepreneurs are opting for is the franchising business in India.  This is witnessing huge growth and is thriving.  Every business comes with a certain number of risks, but overcoming these challenges is easy if a proper strategy is in place.

 

India has become a hot target for many multinational companies who are looking to foray into the country’s domestic market.  Entrepreneurs have utilized this opportunity to make their profits by taking franchises.  The franchising sector contributes nearly 4% of the Indian GDP.

 

India is one of the fastest growing economies in the world and there is a lot of potential in the franchising business, and with the exponentially growing young population, the franchise space in India will continue to witness to rise in the coming years.

 

Why Entrepreneurs Choose Franchising Business

 

As franchisers are already well-known and have their brand of products and an existing business model, it makes it easier for entrepreneurs to operate and function as their franchisees.  Companies want to expand their businesses at an optimal cost. 

 

To acquire a franchise, one should be sure about their reasonings and research about which franchise they want to own.  One such Franchise Business Opportunity you can start with is to be the first one in your cityto sign up for a FranchiseBazar franchise.

 

More about FranchiseBazar

 

Franchisebazar is a one-stop solution company, operating out of India since 1998.  Over the years, they have helped entrepreneurs acquire their business goals.

 

What makes FranchiseBazar stand out from the rest, is the 20+ years of franchising experience, where they have extensively covered over 100+ cities and towns in India.  So if you are looking to franchise your business, or looking for new business ideas on board, this is the one-stop-shop where you have it all. 

 

What comes with our Franchise?

 

Depending on the model type you choose to invest in, it comes with its own set of investment charges, roles, and responsibilities.    Read below, to know more about the franchise models.

 

Exclusive BranchOffice Model

 

You would receive the exclusive right to operate a FranchiseBazar consultancy office, from your city.  With an investment of less than INR 10 lakhs, this is one of the most sought franchise business opportunities in India, for budding entrepreneurs who are looking to start their own consulting firms.

Once the deal is locked in, your primary role would be to generate leads around your locality.  You would need to keep the dashboard updated with the leads and adhere to the TAT consciously.  For more about this business model, speak to our consultant who will guide you into more details.

 

Independent Franchise Consultant

 

This is a perfect business opportunity with a budget investment of around INR 25,000, for real estate agents, financial services consultants, consulting firms, and aspiring entrepreneurs seeking new business ideas.

This is a high-return franchise business opportunity where your primary role would be to generate local leads helping to buy franchise opportunities in India which match their profile.  For more about this business model, speak to our consultant who will guide you into more details.

 

So, come and be part of the nation’s #1 franchise consultant network, a pioneer for connecting clients to their areas of interest, and the best franchise business in India. 

    

Franchise Consultancy in India-Sparkleminds

If you franchise your business with the help of the best Franchise Consultancy in India, you will savor many profits. Such as:

1 . Achieve Earnings: Of course, without filling our bag. Why else would we be franchising in the first place? Yielding profit is one of the prime motives of franchising. Numerous promising earnings include:
·        Primary franchise fee
·        Service fees or Royalties procuring weekly or monthly
·        Agreement for Area Development
·        Sales to franchisees like products, equipment, services, or other items.
·        International franchise rights sale
·        Real estate curriculums
·        Financing agenda

2. Superior Management: Choosing the legitimate Franchisees in your locations will obtain the most motivated and effective managers available. Those people have to lend their cash and valuable time for their futures.

3. Swift Growth: Growth is one of the valid reasons why a company even begins in the place. Growth is a sure shot in this concept if you hire one of the best Franchise Consulting Firms. Very low companies out there attain the resources which are needed to rapidly penetrate the new markets. If you franchise your business, you will definitely advance with agile, with the help of the money and the energy stacked in your Franchisees. On an extra note Franchisees often do have a very rigid knot to their community. Through which they will help you in launching new markets.

4. Investment is less: The cost of elongating a business can be humungous. That’s where it helps in eliminating almost all your expenditure generally linked with installing new locations if your business is franchised.

5. Dwindling off Operating Expenses: If your business is franchised, you’re hooked and variable operating expenditures are rather much lower than running an equal count of company-owned facilities

6. Advantages of Marketing: When your business advances as you franchise. Units can bring along all their marketing funds, which in turn enables them to sustain regional, local and national campaigns too. The increment in the wider exposure aids all your localities which include those which are company-owned.

7. Scaling the Economy: If the locations owned by the company increase, then it commands increased buying power.

8. Improvised Sites: If your business is franchised, you will automatically apprehend your market presence. Attaining a high-rank profile, it is very easy to protect prime sites.

Consultancy Franchise in India

Consultancy services mean consulting services, expertise, or strategic advice offered person or firm that are of technical and advisory nature. Consultancy Services play a very important role in providing crucial advice and solutions. Consultancy Services can be provided irrespective of any field but these are mostly business solutions with a large network of innovative and assisting ideas that are granted with the help of various delivery centers.

When it comes to opening a franchise in consultancy, a consultancy franchise includes fields like business consultancy, management consultancy, marketing or sales consultancy, etc. or depending upon the type of solution required. If you are the type of individual, who has the potential in you, of solving problems and wants to make a difference with your intellectual skills and experience, you can think of opening a consultancy franchise in Hyderabad.

Setting up a consultancy franchise can be a lucrative option. If you are interested in being a consultant, you can give it a shot! You can either buy an existing consulting franchise or you can launch a new consultancy business.

Advantages of taking help from franchising consultancy for business expansion

Reduced risk: The franchisee will acquire the right of running an already established business, thus eliminating the risk of starting a new business.
Business expansion: Franchising provides an opportunity to expand business at regional, national and global levels without incurring additional expenditure. Thus rapid growth of the franchisor’s business is facilitated.
Cost of advertising: The cost of advertising for the franchisor will be reduced since this cost will be shared by the franchisee. Moreover, it enables the franchisor to reap the benefits of increased visibility across regional and national boundaries.
 
 Operational support: The franchisee is provided assistance in not only obtaining finance, but also in deciding the business location, decor /design, staff training, and handling day-to-day operations.

Top Franchise Consultancy in India

The top franchise consultancy provides you with the best of services regarding business growth and franchising your business. The services they provide are as such:-

1. Access to important service equipment-
When you start a new consultancy business, you will be required to invest in marketing, sales, and advertising services. However, this might not be the case, when you buy an existing consultancy franchise as you will benefit from all the already present business services of that particular consultancy franchise.

2. Saves overhead expenses -
Mostly, a consultancy franchise can be run from home, which assists you in eliminating the real estate cost which you would have had to deal with if you were operating from your office space.

3. Support guaranteed-
 Consultancy franchises play the role of both the mentor and the franchisor, thereby providing their customers with their support services in every prospective field.

Franchise Consultants Mantra:

Starting a business, becoming a consultant could be a good option for you, depending on your experience level

India's Best Digital Marketing Owned Franchise Company and Two Decades of experience in this franchise and franchiser business extended in India With Brand Extensions Everywhere In India.

Conclusion

Franchising enables a franchisor to expand the existing business to wider geographical regions within the country and abroad. Franchisees, especially those who are new entrants to business, do not have to “start from the scratch”, but work with an established business model getting the necessary operational support and guidance. In international business, franchising is the best option to enter other countries markets.

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Visit Here: Sparkleminds

Franchising in India -Sparkleminds

Frnchising in India-Sparkleminds

Franchising your business is the process of expanding your business as part of a franchise model. In a franchised business, the business owner (the franchisor) grants their franchisees permission to use their established brand, and work under it to run their branch of the business. Franchisees will then pay the franchisor to use their brand and run their franchise unit largely independently. 

Franchisors offer support, branding, marketing, and operations guidance to franchisees, who then oversee the day-to-day running of the business.

Franchising can be an incredibly profitable form of growth, as it doesn’t require the same level of capital as company-owned expansion, and so can be a much quicker process

How to Find  Franchise Your Business

When evaluating the cost to franchise your business, it’s important to understand that, generally, there are two stages to the franchise development process:

Stage 1 – The Franchise Development Stage is the franchise development stage where you take the legal and business steps necessary to call yourself a franchisor and start selling franchises. 

During the franchise development stage, major milestones include developing and issuing your FDD, preparing your operations manual, and competitively benchmarking your franchise offering relative to your competitors.

Stage 2 – The Franchise Sales Stage is the initial franchise sales process over the next 12 months following the issuance of your FDD. 

During the initial franchise sales stage, you’ll be taking steps to sell franchises through different marketing channels including organic attraction, paid advertising, social media marketing, public relations, and franchise brokers.

What you’ll learn is that the franchise development process is an ever-evolving process that takes place over years as you continuously grow and improve your franchise system.

The Franchisee is also the one who executes leases for equipment, autos, and the physical location, and has the liability for what happens within the unit itself, so you're largely out from under any liability for employee litigation, consumer litigation, or accidents that occur in your franchise.

By its very nature, franchising also reduces the risk for the franchisor. Unless you choose to structure it differently (and few do), the franchisee has all the responsibility for the investment in the franchise operation, paying for any build-out, purchasing any inventory, hiring any employees, and taking responsibility for any working capital needed to establish the business.

Cost to Franchise Your Business

When we talk about the cost to franchise your business, right now we’re talking about the franchise development process (Stage 1) and this includes: 

(a) competitively positioning your franchise offerings and the underlying rights and obligations between you and your franchisees, (b) preparing your FDD and the entire legal infrastructure needed to become a franchisor and start selling franchises legally and the right way, and (c) the development of your operations manual. 

To get this done and, depending on whom you work with and if you prepare your operations manual, we’ve seen the cost range from $18,500 to $84,500.

Steps to Franchise Your Business

The following are the steps to franchise your business:

1. Determine if Franchising is Right for Your Business

Your business, business systems, and personal goals need to align with franchising. When you franchise you’ll be responsible for recruiting, training, and supporting franchisees as your brand grows.

2. Franchise Disclosure Document

Your FDD should be prepared to comply with federal and state-specific franchise laws and should be specific to your business and the franchise that you are offering.

3. Operations Manual

You will be providing a confidential operations manual to your franchisees. Your operations manual must document and inform you franchisees about all system requirements and information needed to develop, open, and operate the franchised business.

4. Register Your Trademarks

You must register your trademarks with the United States Patent and Trademark Office. More about trademarks here and what could happen if your trademarks are not registered.

5. Establish Your Franchise Company

You will need to establish a new franchise entity, typically a corporation or limited liability company. Your new franchise company will be in the business of selling franchises, supporting franchisees, and building systems to grow.

6. Register and File Your FDD

Before you can sell franchises in franchise registration states franchise filing states. You must file the appropriate applications and notices. Check out our interactive franchise registration map to learn more about state-specific laws, registration, and filing requirements.

7. Create Your Franchise Sales Strategy and Set a Budget

Even after your legal documents are complete, determining your initial franchise sales strategy and setting a budget is critical. Evaluate your target franchisees, target markets, interest in your franchise, and a realistic budget for attracting, training, and supporting franchisees.

The franchise development process typically takes between 90- to 120-days to go from where you are today to being a franchisor legally able to offer and sell franchises. However, once you “franchise your business” you’re just getting started.

Why Franchise Your Business

Franchising, as an alternative form of capital acquisition, offers some advantages. The primary reason most entrepreneurs turn to the franchise is that it allows them to expand without the risk of debt or the cost of equity. 

First, since the franchisee provides all the capital required to open and operate a unit, it allows companies to grow using the resources of others. By using other people’s money, the franchisor can grow largely unfettered by debt.

Moreover, since the franchisee -- not the franchisor -- signs the lease and commits to various contracts, franchising allows for expansion with virtually no contingent liability, thus greatly reducing the risk to the franchisor. This means that as a franchisor, not only do you need far less capital with which to expand but your risk is largely limited to the capital you invest in developing your franchise company -- an amount that is often less than the cost of opening one additional company-owned location.

Moreover, your attorney and other advisors will likely suggest you create a new legal entity to act as the franchisor.

This will further limit your exposure. And since the cost of becoming a franchisor is often less than the cost of opening one more location (or entering one more market), your startup risk is greatly reduced.

Franchise Consultants Mantra:

Starting a business, becoming a consultant could be a good option for you, depending on your experience level.

You can call us :9844443365,9844441300

You can visit us at: Sparkleminds 

 

   Franchise Proposal Sample-Sparkleminds

 Now, if you want to start a Franchise business or expand your current one, you need a business plan. The following Franchise business plan template gives you the key elements to include in a winning Franchise business plan.

 I. Executive Summary

II. Company Overview

III. Industry Analysis

IV. Customer Analysis

V. Competitive Analysis

VI. Marketing Plan

VII. Operations Plan

VIII. Management Team

IX. Financial Plan

 How to Create A Franchise Business Plan for Entrepreneur 

 Entrepreneurs who want to buy a franchise and are seeking to create a business plan often do so, to raise capital. It's relatively easy to make one from the information that the franchisor provides. could start with an introduction to the business. Cover the key members & their profiles that will be part of the business, marketing, financials and end it with the exit strategy. 

     In fact, all good franchisors help their franchises in writing their business plans. You can take help from them. For franchisors, here is how you go about building an effective franchise business plan:     sample pdf, ppt, or in a word format. A very nice Franchise                Business Plan presentation can be vital in getting leads in different markets.

 

 Franchise Business Model PDF for Franchisor 

A life-changing decision such as franchising your business cannot and should not be taken without a clear blueprint in place. If you have business plan ideas, consult an expert who can assist you with the franchise business plan format. 

Therefore, this blueprint is what we refer to as a franchise business plan. The entire franchise process involves a substantial amount of planning and paperwork. This will only be natural for everyone involved to face some amount of confusion as they go 

Tips for Creating a Franchise Business Plan

As you develop a franchise business plan, these tips should help you stay organized and realistic.

 Making goals: Make sure you have both short-term and long-term goals, and make sure you know how you will measure success with key performance indicators (KPIs). Break large goals down into micro-goals so you can more easily track progress. Finally, put your goals on a projected timeline

 Keeping it current: Carefully review your business plan quarterly (and whenever a change occurs) to ensure that everything is still accurate.

 Communicating value: When you write about the great qualities of your company in the franchise business plan, make sure you’re keeping a record of your plans.

Preparing for hard times: Rather than only listing your strategy for success, make sure you record your plan for dealing with business hardships

 Getting real about funds: Account for a margin of error in your financial projections. It’s a good idea to work with a trusted financial advisor when reviewing assets and building a financial plan for your business. Research franchising financing, as it can differ from sole proprietorship financing.

Checking your sources: When performing research, rely on credible sources only, such as economic journals, scientifically formulated studies, and census data. Even if you find the same statistic in three different sources, it may not be true.

Franchise Business Plan Example Outline

 Executive Summary 

Business name, founder name, location

Purpose (mission statement)

Overview of products and services

Overview of the target market

Credentials and experience

Short- and long-term goals

Overview of success factor

Business Overview

Legal structure

Staff organizational chart

Company history/milestones (if applicable 

 Industry Description

National industry revenue

Industry growth rate and projected growth

Seasonal trends

Other influencing factors (technology, economy, etc.)

 Customer Description

Customer personas based on local/regional demographics

Customer journey maps (experience of the sales funnel)

Competitive Analysis

Demographic data for territory (population, income, real estate, etc.)

List of direct and indirect competitors

Services under- and over-served in the territory

Key differentiators

 Marketing & Sales Plan

Marketing channels used

Technologies required

Seasonality strategy

Sales process overview 

Customer retention strategy

 Financial Plan

Revenue and cost drivers

Initial funding requirements (franchise fee, royalties, etc.)

Itemized necessary expenditures 

5-year financial projections 

Appendix

Additional documents to support the business plan and present to lenders (credit histories, resumes, licenses, contracts, professional references)

For a franchisee who is interested in your business. This business plan is required to understand what your profile is. What types of franchisees would be suitable? What is your net worth, and how much you could afford, and what is the risk you could take? However, the main point to be noted here is that this plan is primarily created as a blueprint for your internal use.  

It is to be shared with franchisees only in cases where both parties deem it necessary. What is generally shared with the franchises is a Franchise Proposal PPT or a Franchise Package Template that is built specifically for prospecting franchisees.

Guidance as You Develop a Franchise Business Plan

If you’re going to be running a business under an existing franchisor, the bulk of the franchise business plan outline will likely be taken care of for you. 

Additionally, the franchise disclosure document (FDD) provided by the franchisor is like a massive franchise business plan; you just need to make sure your plan is individualized with information for your location.

Check with your franchise’s home office to see how your franchisor will support you through the planning process. Take advantage of all the guidance you can get, as a solid franchise business plan will increase your chances of receiving a business loan. Plus, a solid plan can make you feel more confident about operating your business.

Franchise Consultants Mantra:

Starting a business, becoming a consultant could be a good option for you, depending on your experience level.

1. Best Consulting Franchise Businesses in India

2. Digital Marketing Methods

3. Social Media Campaign

4. Website Ranking

5. Google ads 

India's Best Digital Marketing Owned Franchise Company and Two Decades of experience in this franchise and franchisor business extended in India

Contact Details:9844441300,9844443365

More Details: Franchise Proposal In India