I am super green and don't know if I am on the right track or not so hopefully you guys can help me out.
The idea: I recently had knee surgery. I was offered to rent an iceless cold therapy machine for after the surgery for $275 for two weeks. The first thing I did was come home and do some research to see if anyone made one for a reasonable price to purchase instead of renting. The only one I could find was on sale for $500 down from $700 and it did hot and cold.
After a little more research I found out that you can buy an ice maker that goes on your counter for just over $100 and an ice cold therapy machine for just over $100. So my uneducated guess is that I could produce this for between $100 to $200 and sell it for $300.
So what I've done so far is had a 3D model made. I was going to use this model on a landing page with a buy now button for product testing to see how many clicks I got, but it seems expensive to have someone build that. Maybe that was my first fail.
The problem: You may need to ice a lot longer than 2 weeks so renting the machine could get expensive.
The solution: Produce and sell a machine that is close to the same price as renting one then you can use it as long as you need.
The market: People that just had knee or shoulder surgery.
Business model: 1. Sell them off of a website possibly Amazon in the future.
2. Have a flyer for the doctor's office to hand out to their patients. That is what the other company does.
Fast lane model: Be a producer not a consumer.
Execution challenges: I don't think this is me to product ( please correct me if I'm wrong) just picking one off the internet and having someone produce it a different color is going to be a challenge.
Here are some questions I have. I am a very one-step-at-a-time type person.
1. What is the best way to product test this idea, or is it better to get a small batch produced and see if they sell?
2. How would you go about getting something like this produced. Do you need a prototype first or is there a company that can just create it off a description?
Any advice you have would be greatly appreciated. Even if it is dream crushing drop the idea and go back to the drawing board.
The idea: I recently had knee surgery. I was offered to rent an iceless cold therapy machine for after the surgery for $275 for two weeks. The first thing I did was come home and do some research to see if anyone made one for a reasonable price to purchase instead of renting. The only one I could find was on sale for $500 down from $700 and it did hot and cold.
After a little more research I found out that you can buy an ice maker that goes on your counter for just over $100 and an ice cold therapy machine for just over $100. So my uneducated guess is that I could produce this for between $100 to $200 and sell it for $300.
So what I've done so far is had a 3D model made. I was going to use this model on a landing page with a buy now button for product testing to see how many clicks I got, but it seems expensive to have someone build that. Maybe that was my first fail.
The problem: You may need to ice a lot longer than 2 weeks so renting the machine could get expensive.
The solution: Produce and sell a machine that is close to the same price as renting one then you can use it as long as you need.
The market: People that just had knee or shoulder surgery.
Business model: 1. Sell them off of a website possibly Amazon in the future.
2. Have a flyer for the doctor's office to hand out to their patients. That is what the other company does.
Fast lane model: Be a producer not a consumer.
Execution challenges: I don't think this is me to product ( please correct me if I'm wrong) just picking one off the internet and having someone produce it a different color is going to be a challenge.
Here are some questions I have. I am a very one-step-at-a-time type person.
1. What is the best way to product test this idea, or is it better to get a small batch produced and see if they sell?
2. How would you go about getting something like this produced. Do you need a prototype first or is there a company that can just create it off a description?
Any advice you have would be greatly appreciated. Even if it is dream crushing drop the idea and go back to the drawing board.
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