How do I find investors/manufactures to help get my patent-pending idea to the shelf?

QUESTION:

I have a patent pending for an adult toy product.  This product is like nothing on the market today, and I see it being very successful. How do I find investors/manufactures to help get my patent-pending idea to the shelf?

ANSWER:

Naomi Kokubo

Naomi Kokubo

by Naomi Kokubo, Cofounder of Founders Space

I can only imagine what you mean by “adult” toy, but let’s not get distracted.  In order to get an investor to fund your operation or a manufacturer to license your invention, you need to prove to them that it will fly off the shelf.

Think of your product as the experiment and you are the scientist who must provide proof that it truly works.  You need to gather enough data to convince any potential investors or manufacturers that your product will make money for them.

The first step that I usually recommend for any new product is to do lots of usability and focus group testing.  In your case, I’m not sure what’s the best approach.  That said, you really need a working prototype that can be tested.

The data should include:

1)  What do people think of your product?

2)  Would they purchase it?

3)  How much would they purchase it for?

4)  How does it compare to similar products on the market?

5)  Would they recommend it to friends?

6)  What size is the overall market?

7)  What are the profit margins?

8)  Who are the distributors?

9)  How do you best market it?

10)  Can you point to any similar products which have done well?

etc.

You get the idea.   You need to gather as many relevant data points as possible and use them to either prove or disprove your hypothesis that this product will fly off the shelves.

You may also consider hiring a third party firm to help oversee the data collection and analysis.  Once you have overwhelmingly convincing data that this product is indeed all you think it’s cracked up to be, then you can start approaching manufacturers and investors.

When you begin looking for a manufacturer, target companies in your industry.  It’s very hard to get a response from someone manufacturing or selling an entirely different type of product.  Also, find out who invests in your sector and approach them.

I hope this helps!

Comments & Advice:
  1. Lonnie Ingram says:

    In need of an investor tohave my safety prototype built.

  2. Danny Gurule says:

    I am looking for an invester to help me get my patented idea to the market. I have two design patents on my product. I do have my business plan ready.

  3. kilisa wilson says:

    Hi l have invented a device that is compatible with every vehicle out there that will cut tire rotation and repair time to half or less in all weather conditions l need a investor to help with patenting my idea in exchange for 25% of all profits

  4. tyrone halbert says:

    New idea just like lonnie Johnson who want to invest

  5. hailu tedla says:

    I have a patent for a new type of ground surfing board. I am looking for a company that will license my patent or an investor.

  6. Syed says:

    I submitted my provisional patent application. My invention is natural herbs and oils to inhance sex performance. I am looking for investors to bring my products in the US market.

  7. I have a patent pending golf training aid .I’ve been golfing 22 years still can’t get rid of death grip (to much grip pressure) can’t find a product to help me. So I invented one unlike the other gadgets out there it really works I have a prototype need help

  8. I have a provisional patent. Safety Wrap Lights LLC. I have drawings that are designed for people to wrap around themselves to be seen by motorists or others. You can attach my safety wrap lights LLC to your children, bicycles, baby strollers, animals etc. So others can see you from a distance. Children, EMS workers, construction works that work at night or day in bad weather conditions. All in the hopes to save lives. The Safety Wrap lights are solar powered with LED lights.
    Different flexible seizes in various lengths to fit all seizes? The provisional patent was filed with the State Of Florida. I looking for manufacture or investors. It is sad to see hit and run drivers daily that run over people walking to get to work or home from school.

  9. doug christian says:

    I have a previsional patent pending on an attachment for blowing snow ausome idea need $4000 to upgrade to utility patent. Previsional expiers nov 14 2014 royalties negotiabel please call at 1 616 419 6568

  10. james donnelly says:

    I have provisional patent for interactive heavy punching bag that shows you where to move where to punch then rates performance for speed accuracy and power. Funding needed for prototype approximately 15,000 dollars . Then funding for first order when received I have boxed over 750 rounds with world champions and trained amateur fighters for 30 years. This product is affordable and will revolutionize the workout for the ameteur fighter and anyone wanting a first class physical workout also teaching hand eye coordination

  11. Mike gobble says:

    Seeking business partners to develope agricultural process with 25yr R&D

  12. Jake Ryan says:

    I have a Novelty / Gag invention. Prototype all made and ive been sitting on this thing for 20 yrs ! lol Did research and there is nothing out there like this. Whats my next step /

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