Hey guys,
A bit of background, I’ve read The Fastlane, Unscripted and finishing The Great Rat Race Escape . I also have the audibles and listen when I drive to reinforce the information. I’ve perused this forum for years although I haven’t really posted. My apologies if that bothers you.
I have a business I started over 8 years ago, I have a patent on a product new to the marketplace. My original goal was always to secure a patent and sell to big box stores. Life showed me that’s much easier said than done. After many mistakes and learning experiences, I decided to show proof of concept and began selling online. I have our sales on personal domain, Amazon and Walmart.com. We have been doing very well, for the last few years we have doubled our sales annually and grossed almost a million last year. We are also currently in negotiations with two huge national retailers and always searching for more.
The issue is starting late last year some Chinese copycats learned of our success and zero competition. They copied our design, made a few minor tweaks and began selling online, primarily on Amazon and have cut our prices by 50%. This has been very frustrating as it has started to affect our sales a couple months ago. My goal is STILL to sell in store and scale nationally and then possibly to central and South America but for the time being these infringing companies are really hurting us and we are just trying to stay profitable. By the way, we have a patent issued by the uspto and I spent a great amount of time battling with attorneys and Amazon’s legal team to no avail in regards to these infringing companies.
If anyone with experience in dealing with the matter of knock off competitors or China can share any advice I would greatly appreciate it. Thank you so much for reading through this!
Regards,
Salim
A bit of background, I’ve read The Fastlane, Unscripted and finishing The Great Rat Race Escape . I also have the audibles and listen when I drive to reinforce the information. I’ve perused this forum for years although I haven’t really posted. My apologies if that bothers you.
I have a business I started over 8 years ago, I have a patent on a product new to the marketplace. My original goal was always to secure a patent and sell to big box stores. Life showed me that’s much easier said than done. After many mistakes and learning experiences, I decided to show proof of concept and began selling online. I have our sales on personal domain, Amazon and Walmart.com. We have been doing very well, for the last few years we have doubled our sales annually and grossed almost a million last year. We are also currently in negotiations with two huge national retailers and always searching for more.
The issue is starting late last year some Chinese copycats learned of our success and zero competition. They copied our design, made a few minor tweaks and began selling online, primarily on Amazon and have cut our prices by 50%. This has been very frustrating as it has started to affect our sales a couple months ago. My goal is STILL to sell in store and scale nationally and then possibly to central and South America but for the time being these infringing companies are really hurting us and we are just trying to stay profitable. By the way, we have a patent issued by the uspto and I spent a great amount of time battling with attorneys and Amazon’s legal team to no avail in regards to these infringing companies.
If anyone with experience in dealing with the matter of knock off competitors or China can share any advice I would greatly appreciate it. Thank you so much for reading through this!
Regards,
Salim
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