Contrast between Being a Sales Rep and Owning Pharma Franchise Company

In these times of economic uncertainty, everyone wants monopoly and stability in the market. However, for budding entrepreneurs, deciding on investing into a new business has become all the more chancy. However, there is an industry that is still flourishing which is the pharmaceuticals industry. This sector has shown immense growth and demand in the last few decades. Due to this growth, the sector has come up with huge job opportunities for qualified and trained personnel and up-and-coming entrepreneurs.

In addition to owning a pharmaceuticals manufacturing company, the sector also offers opportunities to marketing professionals to work as a marketing rep for a firm or have their own Pharma Franchise Company. In fact, the latter option is considered as a better one with better business prospects. Let us see how:

• Be your own boss – The whole business is under your control. While it brings responsibility, it also brings flexibility of working. You can decide on your work strategies, your workforce and of course your business partner for whom you want to franchise with. Depending on the business performance, you can decide on how much more to invest, how much employees to have, how many hours to work and many other basic things that make you the boss of your business.

• Decide your own targets – As a sales rep, you will be given set targets to meet. This creates a lot of work pressure that might have a negative effect on your performance or force you to use unethical methods of selling drugs. As a Pharma Franchise owner, you are free to set the targets for your company so that consistent revenue and sales can be obtained.

• Choose your resources smartly – You can decide what you need to set up the facility and where you want to locate your office. Make the best use of the resources available. 

• Absolutely no restrictions – When you are responsible for each small and big decision, sky is the limit. You decide what is good or bad for your organization. 

• You earn for yourself – When you are a sales rep, your income might not necessarily increase with your performance. With experience, you will certainly perform better. 

However, it totally depends on the company what part of their success they would want to share with you. And if you own the franchise company, you get whatever you make out of your business. The more effort you put into your work, the more return you get.

If you think that you lack experience in this area, you may choose to work as a sales rep for a company for some time to know the do’s and don’ts of the industry. In addition to experience, you should also try to explore what other things you would require such as licenses, budget, registration, etc. Just keep in mind that initially you may have to work hard to set up a position in the market but once you establish a client base, you are going to get consistent revenue from your franchise business.