In turn, more and more inventors have decided to take the licensing route instead of the traditional route of creating a product from scratch, marketing and selling it themselves.
Of course, the profit margins are bigger when manufacturing your own product, but they are also MUCH more risky, as only 3%-10% of products ever make any profits.
Benefits of Licensing
- Company does all of the marketing
- Company does all of the manufacturing
- Company does most of the market research
- Company get big box retailers to put your product in stores
- You sit back and collect royalties for each unit sold
What do you get with this GIG?
You will get a list of open innovation company phone numbers for your industry (toy, health, etc.) which are open to new product ideas from outside inventors. These companies, if called correctly (check gig extra for script), will allow you to send a one-page sell sheet or a short commercial to the companies marketing managers/production managers and have them possibly consider reviewing the idea with the team.
The Script we provide is an extremely effective phone calling script. If followed when calling the companies provided, it will have a great chance of being forwarded to the necessary department, rather than told by the customer service rep, "Sorry, I do not know how to help you."