Have you introduced a new product to the marketplace ?

KevinP73 · 10-08-2008, 07:39 AM

I have a product that I am about to produce and market. The more I research the process the more overwhelming it becomes.
I'd like to hear from someone who has done this and maybe gain some insight from your experiences.
Thanks All.

Tishabet · 10-08-2008, 07:53 AM

I've done it for financial service products.... what kind of product are you talking about (in general terms)?

Seahawk · 10-08-2008, 07:53 AM

I've done it a few times, mostly toys. There are a number of variables involved, almost unique to the product.

The toy market is hyper competitive and I found, for lack of a better word, a toy 'broker' that a very good friend of mine recommended. My Buddy had experience in the toy development world and advised me that a solo act without top cover is raw meat, destined to be consumed by prey that stalks the toy market.

I remember his exact words: "If you go to the wrong guy with your idea and he likes it, by the time you get home they'll already have the injection molds made and ready to spit".

The Broker helped finish the design, found a production and packaging firm and helped me market the product...all for a percentage of the profit.

We did well on the toys.

Again, it all depends on the product, patent stuff, reproducibility, etc.

Wish I could help more, but my experience is limited to toys.

stomachmonkey · 10-08-2008, 07:54 AM

Have done a ton.

Depends on the product.

Need more info to go on.

PM if you want.

KevinP73 · 10-08-2008, 08:25 AM

I've designed a wall mount for kayaks. It is basically just a large "J" that cradles the boat. It's design allow for a all styles of kayaks to be stored easily and out of the way.
I have tooled up to make the part in-house and then it goes out for powder coating. Currently my packaging is corragated cardboard boxes but I'm looking at blister carding as an alternative.
Here's a quick pic of the product.

M.D. Holloway · 10-08-2008, 08:31 AM

I have done this for the past 25 years - some stuff generated millions while others flopped. If your manufacturing process is sound, your product position solves a problem or enhances a situation (provides more value than the competition) than you have a fighting chance.

Keep in mind, you can have the best product idea but if you do not have sales distribution in place you will not sell a thing. So, how are you going to sell it?

M.D. Holloway · 10-08-2008, 08:33 AM

Is there not a product like that already?

notfarnow · 10-08-2008, 08:34 AM

Quote:

Originally Posted by LubeMaster77

So, how are you going to sell it?

He can start by selling two sets to me.

Would these be OK to mount outside? I wouldn't want to lose garage space but would love to mount them on the back of my garage.

Make some for canoes too!

KevinP73 · 10-08-2008, 08:48 AM

Quote:

Originally Posted by LubeMaster77

I have done this for the past 25 years - some stuff generated millions while others flopped. If your manufacturing process is sound, your product position solves a problem or enhances a situation (provides more value than the competition) than you have a fighting chance.

Keep in mind, you can have the best product idea but if you do not have sales distribution in place you will not sell a thing. So, how are you going to sell it?

Currently I sell on the ever popular e-bay. Once I have my ducks in a row I plan on offering it to retail sporting good stores. I'm also working on a e-commerce site for all of the products I'm creating.

KevinP73 · 10-08-2008, 08:51 AM

Quote:

Originally Posted by notfarnow

He can start by selling two sets to me.

Would these be OK to mount outside? I wouldn't want to lose garage space but would love to mount them on the back of my garage.

Make some for canoes too!

I'll PM prices to you. I'm not sure how Wayne would feel about me doing this kind of business on his dime. They are powdercoated and I would expect them to perform just fine outdoors. Maybe some field testing would be in order.

craigster59 · craigster59's Garage

Kayak not included?

KevinP73 · 10-08-2008, 08:59 AM

Quote:

Originally Posted by craigster59

Kayak not included?

Yes. I carry a complete line of touring and white water boats.

MRM · 10-08-2008, 09:04 AM

My wife does this for a Fortune 500 company. The best way for an individual to bring a product to market is through a broker, as mentioned above.

If you can't get brokers interested, the only thing you can do is haul a dozen of your product from shop to shop, trying to get placement. If you can do that and you get a track record of sales, you can go back to the brokers and you're more likely to get represented.

Sam Adams beer started when the founder's dad yelled at him for spending money without having sold any of his product. The founder thought that made sense, and he didn't know a better way, so he put a couple of cases in the trunk of his car and hit the local pubs. He walked into the first one he came to with a case under his arm, and approached the bartender. Since it was about 10 am, there was almost no one there and the bartender was the owner. He growled at the Sam Adams guy and didn't seem interested. But he tried a sample. He took a drink and ordered 50 cases. Sam Adams was in business.

Every small business has a hundred people a week coming in, trying to sell them something or get them to place a product for them. Your ticket to success is to be able to show them how they'll make more money carrying your item than whatever else it is that takes up space on their wall or in their web site. If you can answer the question of how the retailer makes money off of the product, you'll get distribution.

71T Targa · 10-08-2008, 09:19 AM

Is this your product in the REI catalog?

KevinP73 · 10-08-2008, 09:31 AM

Quote:

Originally Posted by phred68

Is this your product in the REI catalog?

No those are NOT mine. Those are the ones sold by Seattle Sports (I'm a dealer for their products)
Those are cheap parts that are made on China. They are made of a lighter material and the coating is chipped and peeling when the product comes off the boat. Those are exactly why I started making my own. Also Seattle Sports has NOT been able to fill an order for those for about a month now. Must be a slow boat from China bringing them. My parts are made fron 3/4' welded seam 18gauge steel. They are powder coated not just spray painted. Mine are made in the USA (no child labor or lead based paints)and contribute to the American economy.

KevinP73 · 10-08-2008, 09:59 AM

As mentioned above, what kind of "broker" would I be looking for?

juan ruiz · juan ruiz's Garage

I you are a broker for product placement, please raise your hand, I also like to know

lendaddy · 10-08-2008, 11:00 AM

Kevin,

Are you making these yourself or farming them out?

911pcars · 10-08-2008, 11:40 AM

Maybe market these for a wider use than to hold a small watercraft. Then perhaps the potential target audience becomes bigger.

If cost competitive, I can see buying these to hold any number of garage implements (ladder, cords, extra FG bumpers, trimming pole).

Provide extra support hooks underneath to hold oars, polyester line, other boat accessories?

Sherwood

Shaun @ Tru6 · 10-08-2008, 12:43 PM

I think if you made these modular to accept different style/size hooks, they'd be more versatile and open you up to more markets, as well as be able to sell a variety of hooks/attachments separately. Keep the wall bracket, maybe a collar nut to thread onto a variety of hooks or other attachments?