Where does one sell a concept?

[lizzie]

As many know, we are in the process of starting up a manufacturing company ... however ... the direction we have taken is completely different from the first concept and product we followed.

Hence, we have a really good product, with lots of potential, already CAD designed, designs IP lodged, Chinese manufacturing sourced, Australian importer on board, business planned for marketing completed and product/proto-typed quoted by manufacturer ... the problem is that we don't have the time to follow this particular concept as we are following a path that suits our personalities to a higher degree.

It would be fabulous to be able to sell the concept - and all the development that as gone with it. We would only be looking at recouping our costs to date ... however, if it has higher value that would be unexpected icing on the cake.

So ... I guess my question is ... does anyone know "where" or "how" one would sell the above?

The product is a value add - ongoing upgrade (ongoing sales) - product that has real potential in a wide international market.

Some days wish I could clone myself!

 

[Ausprop]

why sell it at cost?

anyway if you are nuts enough to do that, try a business broker? sounds liek you have built a business not a concept. unfortunately you dont have any trading history yet...

 

[porp_e]

Hi Lizzie,

I was looking into the same awhile back (although my idea wasn't close to as evolved as yours!) and from memory if you type "sell idea" into Google a bunch of resources will pop up....can't vouch for any as I never got that far in the process .... Good Luck!

 

[AJ14]

post your idea and your price on here...

might be a buyer..

 

[lizzie]

post your idea and your price on here...

might be a buyer..

Or pm me with your email address ... then I can send plans etc thru for perusal if seriously interested.

In a nutshell ... it is a 4 person outdoor table that doubles as a wall artwork for units/townhouses/apartments with small outdoor areas that don't want a permanent table set up.

So, hangs as an artwork on the wall when not in use. When you want a table you easily lift the art down (one fairly healthy person can do it alone), unfold the legs and you have a table that comfortably seat four for dinner.

The "artwork" insert is printed on the underside of clear acrylic that is easily interchangable, so the buyer can change the art, and hence their table, as they change their mood/location/season - the plan was to bring out 2-3 new artworks each season = ongoing sales.

Can also print artwork 'on request' for the cafe/hotel market as the basic structure remains unchanged, just the acrylic insert changes.

Also CAD designed and for consumer purchase is a secondary frame that can hang permanently on the wall - on which your table can hang on top of (or your table can just hang from a supplied bracket if you don't want the second piece). The secondary frames give a storage space for extra art - and also means that when you "lift" your table down, you still have art on the wall.

I have also drawn up concepts for stacking chairs that turn into a sculpture, bench seats that also form artworks and a 6 person table that forms a screen.

Anyhow, when one considers the rise in apartment/townhouse living and the hotel/restaurant/cafe industry, there is a fairly big market in Australia - before even looking overseas.

Will do a google after the morning chores!

 

[evand]

I dont think you'll be able to sell as "proof of concept" has not been implemented.

Its still only an idea. Have you calculated feasability, demand and where its coming from?

 

[coastymike]

Lizzie

Do you have a patent over the design concept ? If not most investors wont touch it because the minute it goes to market someone else can copy it with a few minor design changes and worse patent it themselves. If you have a registered patent or patent pending this will make it of more interest.

 

[lizzie]

Have a design registration. Was told by an IP lawyer that it would be near impossible to patent as nothing about the product was original - just the way it was put together.

Have calculated feasibility and demand source, cost to produce and retail cost, where it fits in the market etc ... although, as with everything new, most figures relating to demand are just calculated guesses. Bit like investing really.

 

[Aaron_C]

Is there a reason why you don't want to start production first to generate some earnings?

 

[Rolf Latham]

Hi Lizzie

Although I cant help you specifically, my main comment is to chase what you believe in !

There are many examples in history where the "victim" was a nutcase and subsequent history has shown them to be brilliant as people or producer of a brilliant product or concept.

Go Girl !


ta
rolf

 

[Nathan]

JV it to someone with skills to complete. Leverage of resources, still own your product...

 

[lizzie]

Is there a reason why you don't want to start production first to generate some earnings?

Because I rediscovered a production method that produces a product that I have been in love with for over 10years ... but didn't realise how to apply it until earlier this year.

This newly rediscovered product is my passion ... on all sorts of levels.

It is also a potential gold mine as well, which helps.

 

[evand]

I think you need to be a bit more accurate with demand and sales estimates as i can imagine the tooling costs and the quantity needed to cover tooling, manufacturing and shipping, storage, marketing etc to be HUGE!!!

I think you would need to sell a lot to make it feasible.

It sounds to me like a too big deal (cost wise) for a single person to take on. The risk must be massive.

Do you have samples to shop around? Gauge interest? Create orders?

Have a design registration. Was told by an IP lawyer that it would be near impossible to patent as nothing about the product was original - just the way it was put together.

Have calculated feasibility and demand source, cost to produce and retail cost, where it fits in the market etc ... although, as with everything new, most figures relating to demand are just calculated guesses. Bit like investing really.

 

[lizzie]

That's alright evand ... I now have a "nibble" from someone in that particular line of business, who is fully au-fait with costings and demand.

They are going to have a look at a sample of the plans.

It's not that we need the money - I would hate to see such a good idea go to waste. That is why I am only looking at cost ... although a small royalty per item instead ...

Nah - better to just hand over and move on, IMO

 

[willair]

Nah - better to just hand over and move on, IMO

That may be your problem or as my Accountant tells me every time why are they selling,something like this may work well but on the scale of numbers,very hard to sell an idea with no trading figures..http://www.forbes.com/sites/ericjac...ons-steve-jobs-can-teach-us-if-well-listen/2/

 

[evand]

I have a friend who has gone down this path. From an idea to manufacturing in China and shipping here and now for sale. I am helping her with marketing and business advice.

She has spent tons of money (is a successful lawyer so not broke), many visits to China, lots of time and much stress.

It is a success now but boy, what a long, stressful and expensive road. With no shortage of risk at every step.

The way i look at it is if you thought your concept was worth all this and was going to be a financial success, you wouldn't abandon it. All the same, good Luck.

btw: Her product is much cheaper to manufacture and ship than yours.

That's alright evand ... I now have a "nibble" from someone in that particular line of business, who is fully au-fait with costings and demand.

They are going to have a look at a sample of the plans.

It's not that we need the money - I would hate to see such a good idea go to waste. That is why I am only looking at cost ... although a small royalty per item instead ...

Nah - better to just hand over and move on, IMO

 

[lizzie]

That's okay ... the nibble said it don't suit them at this time, so back into the file.

It may or may not get ressurected one day.

I also have a friend who has spent the last 5 years with a small range of products being manufactured in China. Sold enough to make an okay living - but has just been accepted into Marks and Spencer, UK!

5 years to become an "overnight" success. Assure you that I'm not blinkered - not today anyhow!

 

[tom32]

btw: Her product is much cheaper to manufacture and ship than yours.

But as you point out yourself Evand tooling and start up costs are the major issue.

If for example you were making hardwood tables in China sure they individually cost a bit of money.

Shippinng them you have to spray and then get them into shipping containers.

However you know your costs precisely at the outset and the manufacturer over there has no start up costs, can just get straight into them so would be prepared to make say 1 x 20ft container load and see how it gets on to begin with.

Very little risk cause you are going to get more than they cost you in Australia, that is alost a certainty even if you sold them on EBay...

If you are making say a $2.00 kids toy you might need moulds and all sorts of things as well as approvals at this end etc so it is a much harder idea to get off the ground with a large initial investment.

It is not the shipping and output price that are the risk factors generally as per your post prior to this one above, it is the start up one off costs that are the risks as you may never get them back...

 

[evand]

Absolutely. If it is plastic extrusion and requires new tooling, the one off cost for that is massive.

You need to sell a squillion units to recoup that cost.

Would maybe better if you could add art work on to existing furniture.

My friend is manufacturing a specific (high end) women's clothing item that is not sold here. She is almost creating a new market (as Lizzie possibly is), which is difficult. But is now doing very well.

But as you point out yourself Evand tooling and start up costs are the major issue.

If for example you were making hardwood tables in China sure they individually cost a bit of money.

Shippinng them you have to spray and then get them into shipping containers.

However you know your costs precisely at the outset and the manufacturer over there has no start up costs, can just get straight into them so would be prepared to make say 1 x 20ft container load and see how it gets on to begin with.

Very little risk cause you are going to get more than they cost you in Australia, that is alost a certainty even if you sold them on EBay...

If you are making say a $2.00 kids toy you might need moulds and all sorts of things as well as approvals at this end etc so it is a much harder idea to get off the ground with a large initial investment.

It is not the shipping and output price that are the risk factors generally as per your post prior to this one above, it is the start up one off costs that are the risks as you may never get them back...