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As with any other business, franchising has a number of advantages and disadvantages. Keeping these in view, an investor can decide whether

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

they want to open an independent business or a franchise.

One of the major advantages of franchising is that the company would deal with

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ost of the financial aspect of the business. Even though the applicant needs to provide the franchising fee and other fees later on, the ma

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

or part of the assets would be taken care of by the company. Also, the company would provide trained employers either initially or on a lon

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

g-term basis. Even if this were not the case, the company would train all the new employees, saving the training costs for the franchisers.

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

Franchisees need to provide an initial franchise fee as well as some amount of capital as a security deposit. This will definitely ensure

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

he franchise will be run with dedication, as no franchiser would wish to lose a lump sum in capital to the company.

Franchising indicates

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

the company already has a good standing and wishes to expand. So the customer base is already built and the franchising should have no prob

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ems even during the initial stages. This will ensure good business right from the start and ensure that the franchiser feels motivated by t

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

e response.

Also, franchises can attain growth fairly quickly compared to the regular businesses. This is because there is no limit to the

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

number of franchises that can rise under a particular company. There is no way a company can open branches at the same rate as franchises.

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

Also, the companies get franchise fee, franchise royalty, discount from vendors, better lease options, and better discounts on equipment an

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

raw materials. This indicates that the companies get money from a number of sources when compared to individually owned companies.

Franch

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

sing could be a bad option for the franchisee if the business is already successful and has a good standing in the market. Also, the compan

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

y gets to control the franchise and not the owner. So, even though a franchisee runs the business, the company pulls all the strings. The c

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

mpany would make all the major decisions and the franchisee usually does not get any say in the matter except when it does not really affec

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

the company’s policies.

Even though penetrating the market is easier with franchisees, it might involve a lot more legalities when compar

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ed to that of an individually owned business. This might ensure taking up more time before the franchise being able to attain a strong foot

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ng in the market.

The company must be able to deal with the rapid growth of the franchisees as such situations might, at all times, requir

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

excess staffing, and excess training materials. Also, they must take care to avoid any kind of litigations with respect to the franchisees

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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For those individuals who are interested in joining the construction management field must have a strong background in building science, business and management, in addition to related work experience in the construction industry.

Customer Service is important in all businesses especially service businesses, because that is what you are selling services. If you come to a person's house or business to do a remodel or retrofit or merely some easy tenant improvements then you must give good customer service.

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