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Franchising has made the world look really small. The well known flavors are now not just restricted to a single town or city but can be enjoyed world wide. Otherwise it would only be a dream

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

for somebody in Asia to wear the fashion of Europe, for the West to have delectable food of the East etc. Globally as well as domestically the system of franchising has something good for ever

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

Examples of combination products may in

one.

Franchising basically is the taking of franchisee- the authority or rights to sell the products of some company. Most often it is only those companies who have an outstanding name in the

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

market that go for franchisee outlets. Like a tree expands and grows through its branches that also bear fruits, so do the renowned companies enhance their business (sales) through franchisin

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

. Franchising gives them a good opportunity to explore every small town along with overseas markets.

The process to take a franchisee is simple. All one needs to have is the required security

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

Combination pro

amount to purchase the particular franchisee and a good place with an adequate business plan. The amount so taken by the company is for a fixed tenure after which it needs to be revived in or

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

er to continue to sale the company’s product. This security amount varies with the kind (food, clothes, electronics…) and the market value or the goodwill of the company. is for a fixed tenure

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

after which it needs to be revived. Escalating goodwill of a company entails a surge in the figures to purchase its franchisee. The companies besides the amount are also very particular and c

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

utious about the area and size of the workplace to open their franchisee outlet. While handing over their franchisee to someone nationally or internationally the franchisors (parent company) e

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

ducate him of their product, terms and conditions, policies and style of working. Most often these companies also give certain crucial tips to prop up the sales of their product. Weekly or bi-

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

eekly advertisements, hoardings and the like are some of the widely adopted measures for it. Once a company sells it franchisee to someone then it is solely the onus and freewill of the entrep

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

Following aspects would a

eneur regarding the methods he takes to promote his sales. However the prices of all articles are set by the parent company are not subject to modification by the franchisee.

Franchisee busin

dd to the challenges in developing combination products:

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

ess has more or less covered all areas of human needs. Be it food (restaurants etc.), clothes, jewellery, footwear, bags, makeup kits, electronics…franchising is meant for all. It is at indivi

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

ual’s discretion to decide which franchisee he wants to go for. This can be fairly decided by a vigilant market survey and an assessment of the standard and tastes of people in that area. For

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

instance it will not be judicious to open a top brand’s outlet of expensive clothes in a suburb region where people want to spend bare minimum on their attire. So the kind of outlet to open, i

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

other words franchisee to take is directly proportional to the needs and status of the consumers.

All the franchisees have their suppliers fixed. The suppliers have to arrange to get the mat

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

Professional from academic institutions, pharmaceutical industries, health care indust

erial from the parent company and pass it on to every franchisee store that is linked to it.

The ‘sale’ season is at volition of the franchisee. But the supplier as well as the parent company

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

should be informed before. The prices during the sales season are reduced to half or less than that in order to clear the stock which gets accumulated and is without any serial no.(like there

.

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

might be just one size or color left of a shirt, trouser etc.). Usually the franchisees do this in order to recover their money and make place for the new stock.

Thus all in all franchising i

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

Companies that provide selfless information through particip

a good business that is beneficial not just for the one who has taken the franchisee but also for the consumers who get to enjoy the best of everything in their respective town, city or state

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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