- Joined
- Jan 6, 2013
- Messages
- 339
Rep Bank
$830
$830
User Power: 88%
My mom is a creative woman, and she has created two nifty products that I think would do quite well in the childrens toy industry and baby accessory market. She has sold them at her church and sold 5 in a day. I cant get too much into the product, but the childrens toy is cool, colorful, fun, popular, easy to store, and solves a basic need with the activity it involves. The baby accessory solves lots of small issues that one might have with their baby in a car seat in the car or in a shopping cart for example.
They both are cheap to make, around $5 from the craft store in materials, and manufacturers would cost even less.
They both sell from $25-$40.
My questions are:
1) What is the best way to test the market? Is Facebook a good way, asking friends and other parents if they would buy the product? Or, make a webpage and when the customer clicks purchase, it leads them to a page saying the product is not available, but sign up to be notified when it is?
2) Would this product need to be licensed? How?
3) After testing the market, and making the company name, how can this process be done? Link to a thread thats already covered this?
4) We have the finished product or 'prototype' so would that save on a manufacturers prototype development cost? What are some good companies for crafty things, they are made of cloth, not plastic.
5) After manufacturing, would huge crates be shipped to our house, and then we start selling with low inventory at first, shipping ourself, and then expanding? Would a pre-order be a better idea?
These are the questions I hve right now, any feedback would be appreciated, mainly constructive advice on what to do.
I want to take action, I think these would do pretty good in the market.
Thank you. Tyrel
They both are cheap to make, around $5 from the craft store in materials, and manufacturers would cost even less.
They both sell from $25-$40.
My questions are:
1) What is the best way to test the market? Is Facebook a good way, asking friends and other parents if they would buy the product? Or, make a webpage and when the customer clicks purchase, it leads them to a page saying the product is not available, but sign up to be notified when it is?
2) Would this product need to be licensed? How?
3) After testing the market, and making the company name, how can this process be done? Link to a thread thats already covered this?
4) We have the finished product or 'prototype' so would that save on a manufacturers prototype development cost? What are some good companies for crafty things, they are made of cloth, not plastic.
5) After manufacturing, would huge crates be shipped to our house, and then we start selling with low inventory at first, shipping ourself, and then expanding? Would a pre-order be a better idea?
These are the questions I hve right now, any feedback would be appreciated, mainly constructive advice on what to do.
I want to take action, I think these would do pretty good in the market.
Thank you. Tyrel
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
