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Need help ASAP!

Postby citizen » Wed Dec 02, 2009 1:18 pm

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Hey all

I’m in need of some advice/info. I have a product that Spencer Gifts is interested in. I was initially contacted by the buyer because he thought the picture I sent was a finished product, rather than just the design that it is (photoshop mock-up).

When he found out it was just a design, he said he would “look into” manufacturing cost with China, and I figured it was his polite way of blowing me off…well…he called back today and said they are intersted and wanted to know what I was looking for (as in money). I told him I was looking for a company to liscense it for 3-5% and he asked for how long…and I was stumped. He then talked to me about going the route of getting a designer fee instead…basically money up front reguardless of sales.

He wants to know by the end of the week.

So…does anyone have any advice or info on these options? What can I expect as far as a designer fee?

The product is a novelty battery operated “game” idea that he says will have to retail for 19.99 or under.

Thanks in advance.

Jason

Re: Need help ASAP!

Postby inventor-x » Wed Dec 02, 2009 1:49 pm

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Hi Citizen

No help on my end but good to hear from you 8)

Re: Need help ASAP!

Postby Levi Porter » Fri Dec 04, 2009 2:37 am

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Hi Jase,

Glad you are around.

That sounds promising. I wish I had something more to offer than to trust your gut.

Re: Need help ASAP!

Postby Gizmo » Fri Dec 04, 2009 4:01 am

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I would call Stephen Key , see what his suggestions are.

Re: Need help ASAP!

Postby Scrupulous » Fri Dec 04, 2009 9:33 am

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Try to find out what they'd offer as a designer fee...

Re: Need help ASAP!

Postby StephenKey » Fri Dec 04, 2009 11:13 am

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Jason,call me 209 668 9478
Award Winning Inventor Stephen Key - http://www.inventright.com
Stephen's new book "One Simple Idea" from McGraw-Hill is available in stores nationwide as well as online.

Re: Need help ASAP!

Postby Gizmo » Fri Dec 04, 2009 11:41 am

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HAHAHA.. I new Stephen would jump in.................

Re: Need help ASAP!

Postby inventor-x » Fri Dec 04, 2009 12:01 pm

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Hi Citizen

I thought more people would jump in to help you.

Another person to try & contact would be Roger Brown.

Re: Need help ASAP!

Postby citizen » Mon Dec 07, 2009 4:20 am

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Hey guys.

I ended up talking to Roger Brown, InventRight (not Stephen though), and a bunch of people from Edison Nation. I got alot of good advice.

I finalized the deal over the phone on Friday and am hoping to recieve the agreement by mail this week.

I got lucky considering the way I went about it and how ill informed and unprepared I was. I wasn't able to get a licensing deal, but was able to get a reasonable designer's fee and they are going to send me 10 of the product once they are manufactured...not bad considering it took me 20 minutes from idea to mocking an image up and creating a sell sheet.

Jason

Re: Need help ASAP!

Postby Scrupulous » Mon Dec 07, 2009 1:55 pm

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Congrats, Jason!

Any juicy details you care to share with us would make good food for thought.

[Edited by Michelle.]
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