Advice You - Business

With franchisees the opportunity needs to be taken to maintain strong lines of communication between them and the franchisor's business. Finding good franchisees is d

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

ifficult; keeping them is a lot easier.

The best franchisees need special nurturing so that a strong relationship can be cultivated with the franchisor. If 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

isor follows basic & simple rules, it will be fairly easy to maintain the franchise relationship and keep lines of communication open.

The key qualities that we look

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

for when recruiting franchisees are:

1) Strong people skills - this is the number one quality to look for. All franchisees will be dealing with staff, customers and

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

suppliers. There are many standard questionnaires that the franchisor can use to analyse potential franchisees.

2) Ability to work hard - this is the second most imp

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

Combination pro

rtant business quality that any franchisee needs. If they are prepared to work hard almost any problem can be overcome.

3) Basic computer skills - if the franchisee

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

understands and knows how to use basic software programmes, they are far easier to integrate with your own technology and systems.

4) Planning and Goal setting skill

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

- basic skills in analysing and creating realistic goals are required. The worst franchisees are the ones who are far too ambitious for their own good.

5) Ability t

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

o work under set guidelines - the best franchisees will work within set guidelines. If a franchisee likes to do things his own way then he is unlikely to be able to w

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

rk within structured and proven formulae.

The best ways to cultivate and maintain the relationship between franchisee & franchisor are:

1) Keeping lines of communic

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

tion open - The franchisee should know who to call when any aspect of his business franchise is struggling. A structured and well defined plan which handles all aspec

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

Following aspects would a

ts of communication between franchisee and franchisor is vital. This aspect is absolutely critical for any relationship to work.

2) Meeting on a regular basis - noth

dd to the challenges in developing combination products:

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

ng achieves more than face to face meetings. This helps to build relationships and often you can deal with problems early on before they become serious.

3) Cultivati

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

ng relationships between one franchisee and another - this creates a mastermind team where the franchisees can discuss and debate the skills and ideas for improving t

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

eir business franchise.

4) Continuously improve the companies products - this will help to motivate the franchises as they realise that you are fully committed to th

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

ir success.

5) Become a friend to the franchisee - I can not stress this too highly. The franchisee should be able to discuss all their problems with the franchisor.

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

Professional from academic institutions, pharmaceutical industries, health care indust

In many cases the franchisee fails in his business due to personal problems if you can advice them and assist them with their personal problems not only will they be

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

grateful but are far more likely to succeed in their business.

6) Be consistent with your dealings with all franchisees - This is very important. You should try and

.

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

have equal relationships with all franchisees. This is often not possible due to the fact that you will have successful franchisees that will need special treatment t

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

Companies that provide selfless information through particip

take the opportunity to expand their territories.

To sum up - find the right franchisee and cultivate and maintain the relationships to build your franchise network

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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Models of organizations design are used in order to help businesses improve their products and services and enlarge profits.

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