When it comes to explaining the process behind how our development process works, I have never heard anyone explain it in less than 5 minutes. So, sit back and relax while I do my best!
After someone contacts us, the first step within our process is getting to know the inventor or entrepreneur behind the product. In having a series of calls and/or emails, we get a better idea of where they are at with their idea or business, what amount of work they are prepared for and how we could potentially be a fit.
If the product or idea seems like something that we would be able to help, we have our team do a analysis. One person from each aspect of development will provide their opinion of how we could see us helping them. Any questions or clarification we need from the entrepreneur are addressed and then we figure out how to best structure working together.
Once a concept has become part of our development process, we start with research. We look at all elements of the market that would potentially effect the product’s market entry and decide how to further development for best positioning. Initial line drawings, explaining the product are completed. The previous information is then taken to our patent attorneys, who review existing patents and patent the idea, if needed. Proper protection for the idea allows us to move forward into branding, where a brand, logo and sell sheet are created.
Retail outreach begins with the fully-developed product concept being presented to our network of retail buyers. Often times, these buyers look for different categories during different times of the year, and our team plans around those schedules.
Interest from a retail buyer to carry the product allows us to assist with manufacturing quotes. Knowing the cost of a run will help us to negotiate with the retailers for amounts and pricing. Our team of experts can help you to manage your manufacturing run, while also making sure that your profit margins are negotiated well for best profit margins.
When your run is complete, our team has a group of people that can offer you assistance in marketing your product and managing your EDI.
Whew! I hope that was helpful! For more information about our services or to speak with a Product Partnership Analyst, please contact us!