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Advice You - Becoming a Franchisor or Selling Biz-Ops
The rules in franchising are said to be helping the consumers, but that is not factual. The rules in franchising are to put up barriers
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
to entry and help the status quo and allow franchise attorneys to siphon money from the very lucrative industry sector. Of course gene
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
rally no one wishes to admit these issues, it is so as sure as my opinion and 20 years of observation in the industry accounts for some
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
thing.
The hardships for start-up franchisors are intensive and relatively stacked against them. Still some make it despite the trips
The hardships for start-up franchisors are intensive and relatively stacked against them. Still some make it despite the trips
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
and traps. To start a franchising company today and become a franchisor will require a million dollars liquid and the availability to g
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
t more or borrow as it grows. It is often less expensive to start a Business Opportunities selling company.
Of course if you choose to
Of course if you choose to
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
run with that Biz-Op Crowd there will be an inherent level of mistrust going in from the buyers, so you must know that. Still last lia
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
r wins, and there are plenty of Biz-Ops blowing smoke out there, it is pretty sickening.
My thinking is that unless the business that
My thinking is that unless the business that
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
is to be franchised is a totally emerging trend, technology or service that a franchisor ought to have been in business in multiple loc
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
ations for 10-years prior to franchising. Or at least have some serious team members on the board who have been thru it all and know th
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
industry back-wards and forwards.
You know it is kind of like that book "E-Myth" by Michael Gerber; until you have your current busin
You know it is kind of like that book "E-Myth" by Michael Gerber; until you have your current busin
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ess running perfectly; well you really have no business selling businesses to others. This of course is my mindset. But we live with Fr
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ee-Markets (or the illusion of) and that means the right to free-contract and thus there will be people proving the Peter Principle who
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
come and go. Indeed, there is no easy way to franchise. There is no easy way to sell Biz Ops either.
If you are considering either se
If you are considering either se
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
lling franchises or the problems with Biz Ops, then you should know of the issues out there. Especially with Biz Ops as there is so muc
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
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
h Fraud there; it makes you want to question the entire idea of commerse. Read this:
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
affrpt/OL-100001.pdf" target="_blank">http://www.ftc.gov/os/comments/franrulestaffrpt/OL-100001.pdf
I think there is good informat
I think there is good informat
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ion out there for those considering selling businesses and would recommend if you are considering entering the business selling busines
.
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
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
s that you get a Robert Bond's "Franchise Guide" and check out the listings available to see how they are offering their systems, then
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
pick up an Entrepreneur Magazine and a couple of others and sit in Barnes and Noble Coffee shop and take notes, if you have not already
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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