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So long story short i came up with a very good product idea.
I started to check out the market to do some research on some competition.
Unfortunately, there's a US top selling product of which i cant disclose that's already selling a similar product with a patent on it.
I had to come up with my own design to work my way around the patent. A product developer got the job done but now I'm stuck.
I've reached out to some suppliers and also let a sourcing agent from china find a fitting manufacturer but I have one problem:
To start production, the mold fee will be around $27000 and i currently don't have that kind of money plus it still is a big risk to take.
I wonder, should I just quit? Find something new to start? Make a detailed business plan to take out a loan to proceed?
I would please like to know what your opinion is on this and how should i proceed.
If you have private questions you can always DM me.
Thanks in advance!
Greetings
Oskar
I started to check out the market to do some research on some competition.
Unfortunately, there's a US top selling product of which i cant disclose that's already selling a similar product with a patent on it.
I had to come up with my own design to work my way around the patent. A product developer got the job done but now I'm stuck.
I've reached out to some suppliers and also let a sourcing agent from china find a fitting manufacturer but I have one problem:
To start production, the mold fee will be around $27000 and i currently don't have that kind of money plus it still is a big risk to take.
I wonder, should I just quit? Find something new to start? Make a detailed business plan to take out a loan to proceed?
I would please like to know what your opinion is on this and how should i proceed.
If you have private questions you can always DM me.
Thanks in advance!
Greetings
Oskar
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