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There are many theories about the right size for your first dollar store. If you are openin

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

g a dollar store I recommend that you open the largest store possible. However, I also caut

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

Examples of combination products may in

ion that it is critical to have adequate funding to properly operate a larger store.

Openi

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

ng a dollar store requires more money than one would think. While the total investment in i

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

nventory will likely be smaller than opening a retail store in another product line, replen

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

Combination pro

ishment is a much bigger investment than would be expected. Not having backup cash availabl

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

e for replenishment merchandise can doom your store to failure.

The presence that a larger

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

store makes can create a buzz in the community. The larger size allows the store to carry

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

a much wider assortment of products. It is also possible to carry a wider range of items in

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

both brands and features within a product category. This creates the opportunity for more

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

sales.

Opening a dollar store with a larger retail sales floor positions the small entrepr

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

Following aspects would a

eneur to more successfully compete head-on with major national chains. Larger stores almos

dd to the challenges in developing combination products:

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

t eliminate the competition associated with smaller locally owned dollar stores.

Opening a

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

dollar store that is larger also opens the opportunity for complementary business operatio

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

ns. Case lot sales and wholesale distribution are both very possible.

With the higher volu

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

me that a large store must sell lower cost of goods sold is much easier to achieve. Lower c

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

Professional from academic institutions, pharmaceutical industries, health care indust

ost of goods sold can mean more profits for the owner who is opening a dollar store.

If yo

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

u are opening a dollar store consider opening the biggest store possible. Be prepared for t

.

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

he added work and the added investment. Know that with successful marketing and cash manage

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

Companies that provide selfless information through particip

ment a larger store can create lower costs and more profits.

To Your Dollar Store Success!

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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