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If you are thinking of applying for a franchise and did some initial research on this subject, you will notice that all franchisors will char

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

ge you an up front franchise fee. This may seem a bit unfair to you at first, but if you think about it deeply and put yourself on the franc

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

Examples of combination products may in

hisors shoes, you will get some insights on why a franchise fee is required.

Building a brand name is never easy. It entails years and year

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

s of hard work to make a name that customers remember and trust. It requires patience, diligence and endless hours of work to make sure that

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

quality is maintained, customer satisfaction kept at a good level and the logistical system kept running like a well oiled machine. A franc

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

Combination pro

hise fee then is the charge a franchisor expects of you for all the years and hard work he has invested in making his business a proven, prof

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

itable and duplicable enterprise that will lead to your success as well. As four out of five businesses fails within the first five years an

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

d nine out of ten fails within ten years, you can appreciate the odds he has to work against in order to have this successful business system

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

he has now. Think of the franchise fee as payment for the intellectual property of the franchisor.

Because of this, a franchise fee will g

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

ive you the right to use the franchisors business system, benefit from the popularity of his brand name, brand logo, slogans and more. It al

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

so make the invaluable operations manual available for you so that you can learn from the business experiences and mistakes of your franchiso

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

Following aspects would a

r and basically know how to operate the business from start to finish. The franchise fee will also open the gates of the franchise system’s

dd to the challenges in developing combination products:

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

suppliers to you so that you will also be eligible to receive the terrific discounts and much lower price bulk buying gets.

Moreover, a fran

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

chise fee also gives you the training you and your initial staff need to know the ins and outs of the business you will be handling in the ne

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

ar future. This ensures that when the time comes, you and your staff will know what to expect from each other and what to do. This results

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

in a more streamlined and stress free human resource management that will be very important to your business success.

A portion of your fran

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

Professional from academic institutions, pharmaceutical industries, health care indust

chise fee will go to the unified advertising and marketing efforts of your franchise system. The combination of the many advertising and mar

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

keting fees from many franchisees means that the franchise system can afford very powerful and effective advertising and marketing methods li

.

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

ke nationwide media advertising and nationwide promotion tours and gimmicks.

Of course, some portion of the franchise fee will go to researc

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

Companies that provide selfless information through particip

h. This will ensure that your franchise system will be able to cope with the changes in the marketplace and retain its competitive advantage

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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