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Why does one business open with a great deal of fanfare and another with very little excitement? Chances are customers will eventually find the business that doesn’t have a successful grand opening, or will they? Wouldn’t you want to ensu

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

re that your grand opening is wildly successful and that lots of new customers visit your business? It can happen if you take the time to put as much effort and thought into the “Grand Opening Plan” as you did into the business plan. Set

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

Examples of combination products may in

goals. You should have two primary goals - to increase traffic and to heighten awareness of your new business.

Here are seven tips that your new business can implement to create a successful grand opening:

l. Plan, plan, plan. You canno

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

t expect to open the doors and customers to follow. Choose a date that is good for your business. Do not find out that your potential customers are attending the local fair the same day that you opened, or worse, that your competitor has

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

ne-upped you and held a sale that day. Let the media tell the world that you are open for business. Let your neighbours and fellow business owners know that you have arrived. Give them an invitation to your grand opening. Ensure that yo

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

Combination pro

u have lots of parking that day, perhaps a parking attendant to smooth the way. Do you have a greeter? Will the invitations be mailed out in time? Do you have back-up if the computer goes down? Have you trained your staff? Have you use

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

d the caterer before? Will there be name tags for local dignitaries? Are your window displays exciting? Do not overlook any detail. Details count! Attention to detail reflects on your business.

2. No missteps! You only get one chanc

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

to impress your customers. Iron out all the missteps and problems before you open the doors. Think about holding your grand opening a few weeks after you have opened the doors for business. Customers are brutally frank and honest and the

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

y will NOT return if they are not impressed. If you do not remember anything else, remember this: Your business gets one opportunity only! Wow them!

3. Product and plenty of it! Ensure that your product is delivered and presented well.

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

Do not allow for empty shelves. Ensure that product is steamed, priced and hung and merchandised. Ensure that product has depth and breadth. An empty store does not give a good first impression. (If deliveries are slow, do not, I repea

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

, do not open yet. Wait until your store is well-stocked before you have a grand opening.) Do you have lots of signage? Remember that signage is a silent salesperson.

4. Is your staff trained and knowledgeable? Allow your employees to

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

Following aspects would a

have ample opportunity to handle the product and become familiar with your merchandise. Have you trained the staff on the cash register and computer? Are they efficient at handling debit and credit purchases? Are they familiar with the

dd to the challenges in developing combination products:

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

supplier manuals? Do your employees know the store’s policies? Can they handle store refunds with ease? Can they handle a complaint with confidence? Do you feel they are your “goodwill ambassadors?”

5. Capture customer information to c

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

reate a mailing list. Whether you have a computer or a guest registry on the counter, ensure that you are capturing the names and addresses of your customers. Because of privacy laws, ensure that there is a sign that says “Would you like

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

o join our mailing list?” You can also hold a draw for a grand prize or tickets to a concert (make the prize fit the business) and capture names and telephone numbers.

6. Invite the customer to return. Gift cards, loyalty cards, apprecia

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

tion cards, discount cards, birthday clubs, book clubs, and newsletters – they all work to entice the customer to return. Make it easy for the customer to join, and most importantly, make it fun.

7. Alert the media. Send out press releas

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

Professional from academic institutions, pharmaceutical industries, health care indust

es. Hang a banner outside your store, ribbons on the lamp posts, flashing signs around town, catchy tunes on the radio, or ads in the paper. Send out postcards – copy an image of your product (with permission, of course) on one side of th

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

card and on the other side, invite the customer to join your celebrations. Do not expect that customers will come unless they know you have opened for business. Just keep in mind that all of your advertising must reflect the image of you

.

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

r business.

A successful grand opening can make a huge impact on your business and not just for the short-term, but for the long-term as well. A successful grand opening can create a buzz in the business community, in the media, and with

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

Companies that provide selfless information through particip

your customers. A successful grand opening can reward your business with credibility and heighten awareness and, yes indeed, create sales. Don’t waste an important opportunity. Plan your grand opening and plan for success.

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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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There are several ways to go about writing a small note of appreciation to an interviewer. Try getting a business card from your interviewer. (Nowadays, it seems like everyone has a business card - including my hairdresser!) If you cannot, be sure to remember to write down the name of your interviewer before you go to the interview. Alternatively, attempt to remember his or her name as you introduce yourself at the beginning of the interview. Also, get the address of the establishment you visited. (If it is a branch office of a larger company, strive to use the branch address, NOT the corporate headquarters!)

How can franchisees maintain proper relations with their franchisor? A lot has been written about how franchisors can promote positive relations with their franchisees. Franchisors should maintain proper dialogue, reward the best performing franchisees and hold regular meetings. I believe that the duty also lies with the franchisee to help the franchisor achieve his goals of maintaining proper and profitable relationships both parties.

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