This idea is quite new to me. My head is always spinning with projects I want to develop in the near future, but my major hobby has always centered around spending hours reading the latest research on nutrition and longevity. I stumbled upon new research using a unique combination of nutrients with success. At present, I have not seen this combination available in commercial products so far. It suddenly popped into my brain that I could take this to market, especially due to the high demand.
My problem is how to go about it...Besides this particular combination I have in mind, I have (up until now) 2 other supplement ideas, so I'm not sure if it's worth all the trouble (especially the expense!) to create an online store and brand catered to these 3 supplements. My idea was having it manufactured and the goal would be to have it sold by major online supplement retailers (e.g. Iherb, Swanson, GNC, etc).
My plan of action is to contact these companies directly (product development) operating under an NDA to see if they're interested in the formulation FIRST. If so, then I can have it manufactured and work with those retailers. Is that the normal course of action? I'm reading that many save their prototyping until AFTER they share their idea and know whether or not it's accepted. I'm just a little fearful because like food, most of this line of work isn't proprietary, and I'm thinking "Even if they do accept the idea, what is stopping them from then accepting the same or almost the same formulation from a major supplement brand once my idea has been copied by competitors?"
So ... I'm going back and forth, and feeling apprehensive about what I should do. Any ideas? Is it better to try to sell individually, or should I try to get it right into the retailers? I notice some supplement companies don't even sell directly, like Doctor's Best. And am I crazy for wanting to hold manufacturing off until I hear feedback from the retailers I want it affiliated with? Any helpful advice?
My problem is how to go about it...Besides this particular combination I have in mind, I have (up until now) 2 other supplement ideas, so I'm not sure if it's worth all the trouble (especially the expense!) to create an online store and brand catered to these 3 supplements. My idea was having it manufactured and the goal would be to have it sold by major online supplement retailers (e.g. Iherb, Swanson, GNC, etc).
My plan of action is to contact these companies directly (product development) operating under an NDA to see if they're interested in the formulation FIRST. If so, then I can have it manufactured and work with those retailers. Is that the normal course of action? I'm reading that many save their prototyping until AFTER they share their idea and know whether or not it's accepted. I'm just a little fearful because like food, most of this line of work isn't proprietary, and I'm thinking "Even if they do accept the idea, what is stopping them from then accepting the same or almost the same formulation from a major supplement brand once my idea has been copied by competitors?"
So ... I'm going back and forth, and feeling apprehensive about what I should do. Any ideas? Is it better to try to sell individually, or should I try to get it right into the retailers? I notice some supplement companies don't even sell directly, like Doctor's Best. And am I crazy for wanting to hold manufacturing off until I hear feedback from the retailers I want it affiliated with? Any helpful advice?
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. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
