Forums: Discussions for entrepreneurs and small business.

Has anyone had success licensing to a major retailer?  I am very early on in the product development stage, but ultimately I think that I am going to try to license my product to a major retailer. 

How much ammo do I need to approach a major retailer?  My plan at this point is to sell directly to the consumer, use this sales data to approach small independent retailers, and then use that data to approach a major retailer.  Is this a decent strategy?  I have heard that independent inventors struggle to be taken seriously sometimes. 

Any advice on the subject would be greatly appreciated

Thanks,

Clay

http://www.inventright.com/links/directory.htm 

Will do.  Thanks.

Clay

Phil,

The first question I have for you is, how do you plan to sell directly to the end consumer?

The reason I ask this question is that you need to first develop a product that you know consumers will purchase.  If you are in the begining process of developing your process I hope you are in fact developing a product that you know consumers need and it is unique.  Then you need to develop a marketing plan how you are going to position the product to the consumers.  You can create a product, get it in to a large retailer like walmart and still have lousy sales because you do not have a good sales and marketing plan.  I have seen this happen first hand.  Focus on making sure you have a product consumers need, then build the marketing plan and finally complete the product.  Do not get analysis paralysis and never get the product done like thousands of other inventors because you are unsure of how to get your product picked up by a major retailer.

Visit my site for more info about selling your product to major retailers.

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URL]http://www.Boostmyproduct.com[/URL]

Hello BigPhil,

There is nothing wrong with your approach, however it not necessary to venture and sell an ideas before you license it.

My business partner (Stephen Key)is a very successful inventor. He teaches our students to sell the benefits of their ideas. If you have a hammer that hit's a nail straight every time, we'll that's the benefit. That's what you are really selling. You don't even have to have a prototype quite often. Stephen teaches people how to sell using a sell sheet instead.

He's licensed over 30 products this way!

You don't have to sell your product before you license it.

Andrew Krauss - http://www.inventRight.com Co-founder