How To Find A Product To Market

Hello %%First Name%%

If you're looking to start a new business but haven't got a product to sell, here are some ideas that may help you to find it...

  • Hobbies and passions. Think of your hobbies and passions and see if there is anything associated with them. If you enjoy what you do you are far more likely to be successful. Also, what are you good at? Then think if there are any other products you could also market to the same audience.
  • Patent Office. Patents are good for up to 20 years. After that, the idea is up for grabs if it hasn't been used. Sources of information are...
  • Can't wait 20 years? Ask the patent holder if you can have a licence for the product. They are inventors, not sales people who often have no interest in the marketing. You may well find they will be happy with 2-5% of the sales revenues. Something is better than nothing at all.
  • Approach manufacturers and ask to market any products that they have that haven't sold well. You'll often get a very good price. Ask for special licensing and marketing rights.
  • Use media kits and look at the adverts. Does it give you any ideas for better products?
  • Trade shows. Go to them and see what is on offer.
  • Look as you shop. If you see something on a shop shelf and you like the product, approach the manufacturer. The smaller the manufacturer, the more likely they are to want more outlets.

If you'd like to discuss or bounce any new business ideas off of us or for any of your accountancy and tax needs, please give me a call. I'm very happy to visit you without charge for a consultation to discuss how we could help you further.