Where to start - New Product

jelly4

Hi There,

I've come up with an idea for a new range of products. I've got a potential manufacturer and plan to get protype's made. I think its a product that can be made at a low price and sold with a good markup. Other than that I have no idea what to do or where to go! Any advice?

Jelly4

Peterdalkey

Ok, so far you have an idea.

Do you know how much it will cost to have it made?
Do you know how much the market will pay for it?
Have you done any research at all, have you established any demand for the range??
Do you have the funds to finance the project?
Do you want to sell it online, though distributors or direct to retailers?
Have you any business experience or have you worked in the field?

Buttercake

jelly4 wrote: »

Hi There,

I've come up with an idea for a new range of products. I've got a potential manufacturer and plan to get protype's made. I think its a product that can be made at a low price and sold with a good markup. Other than that I have no idea what to do or where to go! Any advice?

Jelly4

It depends if you want to do this alone or seek a partner/investment/grants?

Make an appointment at your local Enterprise board or signup for one of their "Start your own business" courses

Have a chat to a friend/family member who is self employed/runs their own business and the might give you some pointers

Your prototype might be done with a 3D printer?, saving you engaging with a manufacturer

Its an exciting time having a great idea or wanting to start a business - take some time out and create a business plan, something I wish I did with my first business.

Don't let the grass grow!

Peterdalkey

Search facility is a bit wonky on here today, but got it at last, but you may find this thread a useful read. http://www.boards.ie/vbulletin/showthread.php?p=87215303