Advice You - Business

If you live in a small town of older retirees and want to start an oil change business one has to wonder will it make money? Should

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

you start a mobile oil change business or a fixed site oil change business? Recently this question came up and someone in New Hamp

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

Examples of combination products may in

hire states; I live in a small town with only 8,000 people and mostly retired folks and they have to drive 60 miles to get an oil c

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

ange. Would it be viable to start one here?

Well 8,000 at .7 cars per person is 6400 cars or so. Remember retired communities have

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

fewer cars and they drive a lot less due to age. But Upper End retirees from my experience with Sun City in Sacramento, Phoenix, Or

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

Combination pro

ange County, Palm Desert CA, etc. tell me that they are more apt to take care of their cars you see? Yet in those areas one would n

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

t have to drive 60 miles for an oil change. A small population may not provide the Return on Investment for the property and a buil

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

ing, however it might?

Mobile Auto Services in New Hampshire have regional weather issues for mobile services and under 20 degrees

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

or snow it is somewhat unfeasible without hardship of some kind. Since there are people there to will be other service businesses a

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

nd smaller fleets, 3-10 vehicles, heating and air, plumbing, you know the usual, they too make good customers.

If your town has so

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

e nice downtown area you might be able to get some Economic Redevelopment Loans, SBA assist and plus Oil Company Loans at no intere

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

Following aspects would a

t or 30K grants with personal pledge to buy X amount of oil and use their brand 5-7 years? You might make a location work, but go

dd to the challenges in developing combination products:

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

nexpensive and go modular if possible, retro fit an old building that way. Use your used oil to heat the place, you could save cost

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

s and make that work.

If you go mobile remember the smaller markets mean you need get in inexpensively, but with a couple of fleet

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

in nearby cities you could also have those every three months say 60 mile radius, think in terms of each weak going a different di

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

ection like a BMX Bicycle wheel?

In your scenario used oil is also an issue and your state might have cradle to grave used oil env

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

Professional from academic institutions, pharmaceutical industries, health care indust

ronmental policies but if not you could give your used motor oil to other shops for heating to save them money and you might find y

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

ourself with lower costs over all.

Inventory is an issue too, but as you probably have seen Lincoln Continental filters will be a

.

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

tandard filter you will need? So with older retirees often inventory is easier too and this is a good thing. Perhaps you will consi

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

Companies that provide selfless information through particip

er all this in 2006 if you are going to open an Oil Change Business in a Small Town with a small populations and Older Demographics

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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