How to Get Inventions Into Stores
Putting your invention idea into the marketplace takes considerable effort and money. It is imperative that you research the market to see if your efforts will pay off. While you can choose to delegate manufacturing costs to a large company, it will require a lot of effort on your part to develop your idea and convince the company to invest. If you have an invention with strong market potential, you should go through the process of getting it into stores. Large retailers will not be likely to pick up your invention until it develops a proven sales record with smaller retailers.
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Instructions
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Research the market for your invention. Find out if your invention fills a need consumers have in the market today. Visit local retailers and online shopping sites to see if they already carry products similar to what you envision. Determine what is unique about your product and capitalize on that quality.
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Find patents similar to your invention. Search for patents on the United States Patent and Trademark Office at Uspto.gov. Knowledge about patents in your product sector will equip you to distinguish your invention from similar offerings.
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Develop a prototype of the invention. Produce a rough prototype for potential investors and retailers to try out. It is best to have something for them to touch and use instead of just explaining the idea with words. If the product is too expensive to produce a prototype, you can make a detailed drawing instead.
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Get a patent for your invention. Even if you just want to license your invention to a manufacturer, you need to secure a patent for your invention. There are two main types of patents; a utility patent protects the way the product is used and a design patent protects the way it looks.
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Analyze profitability. After estimating how much the product will cost to produce per unit, think about a likely price people will pay based on similar products. Profitability is an important selling point to investors and manufacturers.
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Write a simple business plan. This is necessary even if you plan on selling the invention to a large company because the business plan will show how your invention fits into the marketplace. It is up to you to research the demographics and buying habits of your potential customers. Include what kinds of stores would carry your product and how it might be displayed.
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References
Resources
- Photo Credit store front image by Derek Abbott from Fotolia.com
