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Last week's question from Anthony R. on how to choose the franchise that would best fulfill his life-long dream of owning his own business sparked a number of emails from other readers wanting to offer their two cents on the subject.

Some folks offered helpful insights and su

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

ggestions on how to pick a franchise and a few things to watch out for, while other emails came from current franchise owners asking me to help them sell their operations to Anthony R.

Hmm, sounds like it's time to update the old business card once again. Tim Knox: Franchise

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

Examples of combination products may in

Broker At Large… Who knows, maybe I can franchise the concept.

Last week I promised we'd take a closer look at a few of the things you should look for when considering a franchise opportunity. Keep in mind that there are thousands of franchise opportunities that range from th

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

low end opportunities available for a few thousand dollars to the high end franchises that cost hundreds of thousands of dollars.

The difference in price is reflected in many ways: the viability of the opportunity, the level of training and support offered to the franchisee,

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

the track record and financial stability of the franchisor, the success rate of the franchisees, and a dozen other factors.

All a lower end franchisor might offer is a training manual and the right to use their company name. Many also have very little interest in weeding out

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

Combination pro

potential franchisees. The truth is many are in business just to collect franchise fees. They have little interest in whether or not a franchisee actually succeeds. If you have a pulse and a checkbook, you can become their franchisee. And your pulse does not have to be that st

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

rong.

The higher end franchisors have very strict franchisee requirements and will not allow just anyone to become a part of their franchise system. They also go to much greater lengths to ensure the success of their franchisees. They offer complete hand holding from start to

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

finish and remain heavily involved in the business even after the doors open. Yes, you do pay dearly for their assistance, but as the old saying goes, you get what you pay for.

Here are a few things to look for in a franchise opportunity:

Turnkey operation

This is the most

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

appealing feature of many franchise systems. Many of the top franchisors will scout the best location for the business, build and equip the facility, hire and train employees, put you through an extensive management training system, then toss you the keys. Furthermore, they wi

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

ll work closely with you for the first few months to help make certain that you know what to do with the keys once they've been tossed to you.

The majority of franchises don't offer such complete turnkey packages, so be prepared to do much of the upfront work yourself. Often

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

t is up to you to find a location, negotiate the lease, build out the space or erect a building, install the equipment, hire and train a staff etc.

Proven track record and management system

As mentioned earlier, many of the lesser-known franchise systems offer you a training

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

Following aspects would a

manual, maybe a training video, and a few hours of telephone support. Not the best way to learn how to run a business. A good franchisor will provide you with thorough management training, either at their facility or onsite at yours. Since one of the reasons for buying into a

dd to the challenges in developing combination products:

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

franchise system is to tap into their expertise and know-how, thorough training should be a foremost consideration.

Customers waiting for the door to open

I don't have the statistics in my pocket to back this up, of course, but I'd bet the farm that every time a new McDonal

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

's opens its door, it's a mere matter of minutes before the first Happy Meal is sold. Many franchisors spend hundreds of millions of dollars on national ad campaigns to promote brand awareness. This works great for the franchisee who can literally have customers waiting for th

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

e doors to open on the first day of business.

Always consider the downsides

There are downsides to franchising. Foremost is the high cost of entry. The top franchise opportunities require considerable investment on the front end, usually more of an investment than if the ent

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

epreneur started a similar venture on his own. You could open an independent hamburger fast food restaurant for a fraction of the McDonald's franchise fee, but you probably won't sell as many hamburgers. What you're buying from McDonald's is not just a fast food restaurant tha

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

Professional from academic institutions, pharmaceutical industries, health care indust

t sells hamburgers. What you're buying is a brand, a reputation, and a proven business system with ready to eat customers. Be prepared to pay a premium for it.

Another downside is that when you buy into a franchise system you often have to pay a percentage of your revenues ba

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

ck to the franchisor. You might also be required to buy supplies from the franchisor, including inventory, paperwork, software, computer systems, and anything else the franchisor decides that they should supply to you.

And there in lies the biggest downside of all. When you b

.

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

y into a franchise system you don't control your business, the franchisor does. You have very little say-so in running the business. You must follow their processes and procedures without variation. And should you decide to get out of the business you may not even be allowed t

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

Companies that provide selfless information through particip

o sell the franchise to just anyone. The new owner would have to be approved by the franchisor before a deal could be made final.

The bottomline, Anthony, is to do your homework and make sure the franchise you choose fits your personality, your lifestyle, and your pocket book

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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Electricity is composed of wide interconnecting networks of electrical line, power plants and diverse equipments such as transformers, electrical power distribution systems, and substations. Transmission System Operators (TSO) are part of the network and play a key role. Indeed they are the operators in charge of transmitting electrical power from generation plants to the regional or local electricity distribution operators. Transmission system operators are working on electrical lines with very high voltage, above 100,000 Volts, and they use transformers to reduce the voltage, below 66,000 Volt, for electrical power distribution. If you work for a transmission system operator company, safety and reliability will be the core of your work since any failure in power generation may possibly result in a large number of personal and property damages.

Over the last few years, the insurance industry has seen a substantial increase in applications for Therapists' Professional Liability Insurance from applicants who are trained Nurses.

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