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Product development question

Postby dthomp87 » Tue Mar 04, 2008 9:29 pm

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so i have a rather elaborate invention idea that i need to be developed. i would rather not just license off for royalties but start my own business that will produce and market the product. im not even sure if this is even possible considering i have no idea how much it costs to engineer and develop a product from beginning to end. I can come up with a considerable amount of funds but my pockets are not infinite. does anyone have a ballpark of how much it cost to do such - product design, development, engineering, prototyping, to manufacturing. i know this is very difficult to estimate because of how many variables would come into play but i mean 10s of thousands, hundreds of thousands? really i have no idea

i know much of this would depend on the complexity of my invention so to get an idea, its an specialty electronic controller device with a touchscreen and wifi. and not necessarily small in size.

again i know this is a difficult question to answer, im just wondering how many digits $$ i will be working with

Postby Sunny » Wed Mar 05, 2008 12:41 am

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Hi there,

I am sorry I don't know your name, so I did not address you appropriately. You may try to write to firms who do evaluation, validation, prototyping and get a quote. Otherwise like you yourself mentioned, there are so many variables it would be impossible for anyone to give you a good reliable ball park figure. Try going to T2design.com, Pattondesign.com, designmyidea.com, or you could go to a designdirectory.com and identify the appropriate firms for you to interact with who may be able to give you a quote. Another website for you to check out is inventbay.com just to see what resources are available over there and then use that as a spring board to go to the next stage.

I myself am at the stage, of trying to get quotes from companies who do such jobs for my invention, New and improved first aid strips. It is quite a task of identifying good, reliable and reputed firms, which one can afford, to get the job done.


Sunny

Postby makeworldbetter » Wed Mar 05, 2008 10:04 am

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Before you start sending any quote request, learn from this site and find out where to send those quote requests. It's possible to have prototype made in China rather than here and it will be significant cheaper.
Most of Chinese manufactures does prototype often, for the purpose of getting a bigger order, so they don’t advertise it as a service. You can get quote from them not only for prototyping and also for different stages of manufacturing.
I have seen people spent several thousands on prototype and knowing the same can be done for less than half in China.

If you need help, you can contact me. My contact information is also at makeworldbetter.com

Postby dthomp87 » Wed Mar 05, 2008 6:32 pm

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thank you for your suggestions. does anyone recomend any particular product development companies or manufacturers that i should get a quote from?

Postby Hahndds » Mon Mar 10, 2008 9:42 am

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This is a question I too have asked many times... Let me give you some numbers for products I have made as an example. Your project may be more...

My twin articulating forceps: 5k mold, prototype free as well as development for exchange of exclusivity.

My elastomeric wedge/matrix patent: 15k patent, development into final product quoted at 25k for functional prototype. Too much for my taste right now.

New type of mouthwash: R&D 1k. Pilot batch 3k. First run 40k. This gives a good product ready to sell. No patent, just trade secret.

These are all pretty simple projects...I tend to now focus on less expensive projects as I am not counting on a "home run" but rather a bunch of decent products!

Hope this helps.

-Christian
<p><strong><a href="http://www.inventaholics.com/">www.Inventaholics.com</a></strong> - be part of the journey</p><p>"Those who say it cannot be done should not interrupt those doing it"</p>

Postby RandyB » Tue Mar 11, 2008 10:09 pm

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Another suggestion is that you may want to consider doing a business plan. The great thing about doing one is that it formats the information you collect in a manner that allows you to determine if your venture is viable. The process makes you consider all aspects of commercializing an invention and is useful in establishing what you need to know.

Randy Belaire

http://inventor-strategies.com

BIG book of resources

Postby n99269 » Wed Mar 12, 2008 9:36 am

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What's up dthomp87.......

If you ever need to find resources for almost anything you need got to Thomas Register.com. I've used them for years and have located materials, marketing firms, parts, fluid materials etc., etc.

Hope it helps.

Reagrds,
n99269

Postby Hahndds » Wed Mar 12, 2008 11:04 am

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I agree, I too have used that registry. As a matter of fact, that is where I found my current manufacturer!
<p><strong><a href="http://www.inventaholics.com/">www.Inventaholics.com</a></strong> - be part of the journey</p><p>"Those who say it cannot be done should not interrupt those doing it"</p>

Postby n99269 » Wed Mar 12, 2008 11:11 am

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Hahndds,

Hey man, I like that quote: "those who say it cannot be done should not interrupt those doing it". I'd like to adopt it as part of my philosophy if it's okay with you.

Postby Hahndds » Wed Mar 12, 2008 11:58 am

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Go for it! It's not mine ;)
<p><strong><a href="http://www.inventaholics.com/">www.Inventaholics.com</a></strong> - be part of the journey</p><p>"Those who say it cannot be done should not interrupt those doing it"</p>