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Dave Gillen – Former FS Concierge
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Hi Cate,

As you’ve pointed out, there are sooo many questions and variables and steps and hurdles in a project like this.

For this reason I’d suggest licensing.

Look around to find some companies for whom this product would sit perfectly in their product line. Licence the idea/design to them and collect a royalty. They take care of the expertise and capital needed for manufacturing, marketing, distribution, etc.

If it’s something you’d like to do on your own, you have to find a way to make some initial prototypes to sell at the markets or ebay without the $60k cost. Then you can test the demand on a small scale to see whether it would be worth investing more.

Another option is to raise money via crowdfunding – essentially get pre-sales to fund your setup and first run, and this will also tell you whether people love your product idea.

Good luck!
Dave