WE'VE MOVED!

We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co

The Big Idea

NickH28NickH28 subscriber Posts: 2
edited February 2007 in Startups Created by StartupNation Community Members
I was recently watching CNBC`s The Big Idea with Donny Deutsch. On this particular night one of the guests was Joe Sugarman the man behind Blublocker Sunglasses. The show was mainly about Sugarman and other guest making money by marketing their product through infomercials.
My question is this, Sugarman and other guest didn`t invent to products which made them rich. They bought the rights to the product from the manufactuers who made them. How do you go about finding and buying product rights from manufacteurs?
· Share on Google+ Share on FacebookShare on Twitter

Comments

  • entrepreneurentrepreneur subscriber Posts: 0
    As you mentioned, you don`t have to be the inventor of a product to make money with it.  The key, or secret if you will is to have the "exclusive rights" to the product.  Now, that being said, exclusive rights could only be the exclusive mail order rights, etc.  So, here`s how you could make this work without spending any money on the exclusive rights I`ve been talking about - you simply find a product that interests you and provided it`s not being currently offered in mail order catalogs, etc. you contact the manufacturer of the product on your letterhead and simply ask for the exclusive rights for whatever avenue you wish to sell the product in.  It`s that simple and don`t pay anything for these rights either.  Simply put yourself in their shoes by asking yourself, "what would I do if a company approached me and offered to sell my product in an area I`m not even selling in".  I`ll be willing to bet you`d say yes, wouldn`t you?  Now, this may not happen all the time but if you contact enough people with product you`ll find enough to keep you busy and hopefully make some serious money.  Another thought, look for new products being offered in trade magazines.  These are great candidates for this type marketing.  Hope this helps or at least gets you a little closer to your goal.
    · Share on Google+ Share on FacebookShare on Twitter
  • NickH28NickH28 subscriber Posts: 2
    Thanks for the response. I never really thought about it that way. Seems like great Advice.
    Thanks
    · Share on Google+ Share on FacebookShare on Twitter
  • maryglennmaryglenn subscriber Posts: 1
    Did anyone find information on finding and buying product rights from manufacturers?
    · Share on Google+ Share on FacebookShare on Twitter
  • entrepreneurentrepreneur subscriber Posts: 0
    The way I`ve heard it told is by simply asking.  I know that sounds too easy but that`s how it works.  To be a little more specific when asking for rights I would ask for certain rights, such as, mail order rights, rights for a country (USA), etc.  Provided a company is not currently marketing their product say for instance in mail order catalogs this would be a perfect opportunity for someone with mail order savvy.  Now, when asking you`d better have your ducks in a row so to speak, meaning you need to convence the manufacturer, importer, etc that you have expertise in this area. 
    To kinda imagine how easy this would be to get these rights is put yourself in their shoes.  Say you have a product and are not currently marketing it in the field that is requested, wouldn`t you be interested in listening to someone about helping you?  You bet you would.  So, again my advice to you is to, "get your ducks in a row" and go ahead and ask.
     
    Good Luck!
    Gary
    · Share on Google+ Share on FacebookShare on Twitter
  • maryglennmaryglenn subscriber Posts: 1
    Do you know where to find a list of manufacturers which to approach?  I know I could google it, but didn`t know if there was a known resource.
    Thanks for the response!
    · Share on Google+ Share on FacebookShare on Twitter
  • entrepreneurentrepreneur subscriber Posts: 0
    Sure, you can try The Thomas Register of American Manufacturers. Their website is; www.thomasnet.com</A>   There you can browse by catagory.  Hope this helps.
     
    Good Luck!
    Gary
    · Share on Google+ Share on FacebookShare on Twitter
  • turkishturkish subscriber Posts: 5
    That`s great input Entrepreneur... most people oversimplify processes especially when talking to a CEO of a company or a manufacturer... I recall talking to a CEO and i had no idea, next thing you know, a few months later, i have exclusive rights to a new product that they launched just by offering my input... what do you know... Keep in mind, these people are people themselves and respect in the beginning goes a long way... and persistence... don`t take no for an answer in the beginning and don`t get upset just get creative.IF you want to market a manufacturers product and let`s say... the internet is already being utilized (shops, ect.) well get creative and think of other ways to make a profit for you and the manufacturer while tackling a market area that no one else has...
    · Share on Google+ Share on FacebookShare on Twitter
Sign In or Register to comment.