Advice wanted... Setting up a new business & making prototypes?

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star12

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Hi everyone!

Just after some advice on those of you who have made your own business and how did you go about creating prototypes of your product ideas when its not a product that i could make myself? And once you had achieved this how did you go about gaining financial backing, and gaining sales and getting product awareness?

Thanks in advance!
 
There are specialist companies which will make prototypes up.
You will then need to patent the product so that others can not copy it. (Patent Attorney)
Funding will depend on the potential market (sales) of the product.
Product awareness will again be down to funding a marketing excercise.
 
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In terms of prototyping - it depends on what type of product and materials. If it is mainly plastic parts then a rapid prototyping company can do a 3D print for you, but you would need engineering drawings in a suitable CAD software. If it is based on electronics then you would need an electronics design company. For both of these you are probably best commissioning a design company or freelance designer to help you unless you have good engineering knowledge yourself.
If it is fabric based then you're probably best going direct to a manufacturing company that already produces similar items. If wood or metal, then a local carpenter or fabricator (respectively) could make you a one off.

Once the design has been finalised then you would either have to set up your own manufacturing facility or commission a manufacturer to make it for you. For a new product and business you would probably have to stump up the tooling costs up front.

For a patent/design registration you are best using a specialist legal company.

In terms of finance your choices are bank loan, personal finance, or crowd funding, for which you would need a good product and a solid business plan.

Marketing can be done yourself but if you've got no experience of internet marketing then it is best to use a firm/individual who does.

You would also need a logistics and warehousing plan.

Feel free to PM if you want more info.
 
DabDab puts it perfectly.

Couple of things to add:

Chinese don't really get the idea of patent protection. If it takes off, expect to see knock-off copies the next day!

Once you've made sure the product works, it's all in the marketing. Direct (whether over the internet or physically at shows etc) the best. Tack shops take a big mark-up and tend to be iffy credit-wise.

Finally - don the Cloak of Pessimism when making projections :)
 
star12 said:
Thankyou guys!! Super helpful! Thankyou so much :) :)
Click to expand...

Plus if you were thinking of applying for a patent, you must keep your idea confidential. That means not disclosing your ideas to others in such a way that they would feel there was no reason they couldn't spread the idea. So get confidentiality agreements in place with anyone you engage to make a prototype, or others to whom you must disclose your idea in order to get help. Also patents are a right to stop others copying your idea. They are not a right for you to freely use your idea. What you're doing could come within the scope of someone else's patent rights.
 
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