Starting from scratch - where to begin

[mark_s]

Ok so I've had an idea to take an existing product, change it very slightly (mainly the colour) and add a minor feature. By doing this I could market the product to a completely different and bigger group of potential customers. I've had a look and can't find anyone selling the item for the use I am thinking of which either means its a stupid idea or no one has thought of it yet, which I find hard to believe. So where do I start? I'm guessing I need to look at current manufacturers and its cost (its probably a relatively cheap item with a retail price of £20 max), as most things are made in china or somewhere similar how would even I go about finding out this information. I've probably got a million questions at this point but I'll take advice from anyone who's willing to give it right now.

 

[MOIC]

Google

 

[CMS Medical]

You would need to research the current manufacturers of the product, get in contact and see if they would be willing to make the modifications.

If you can find 2 or 3 who would be willing ask them for samples for inspection, if everything is ok then work out a small sample order to test the market.

I know it's not as simple as this but it is the only way to go. As without a manufacturer and market testing you will have no idea whether it is a good idea or not.

You could even contact some reputable sourcing agents who would have better contacts than you to help along the way.

 

[mark_s]

I totally agree that testing the market is a priority at this point. I realise that just because I think the idea is a good one doesn't mean anyone else will or that there isn't a really obvious reason why no one markets this item in the way I'm thinking. I am struggling at the first hurdle here though and that's finding the manufacturer of the product. I can find the item on various retail sites but even though I've searched google I've no idea how to find the manufacturer. I guess I will have to contact places that make a similar item and see if they can help or point me in the right direction.

 

[LowPrices.uk]

Do a bit of market research to see if people would consider buying your product before going any further?

 

[mark_s]

What's the best way of doing this without giving my idea away? I only ask because I've had a good business in the past, did some research into something then someone else who I spoke to went ahead and got in first with what I was proposing to do.

 

[Scoped Solutions]

It wouldn't hurt to buy some of the existing items, change them as you would like and then try and sell them on ebay - if you end up with a cupboard full of the items sat there for weeks then the idea might not be as good as you hoped. Certainly worth a punt if they are only £20-ish each. It's a relatively cheap way of doing some market research.

 

[CMS Medical]

Try looking for the product on sites such as Alibaba. Although most companies on there who claim to be manufacturers are not really you may still get further than looking at the retail side of things.

Send messages to those who claim to be manufacturers and try dwindle down your options from there.

 

[Reivop]

That is risky because you do not know if you will have enough customers or not. And you may also have to explain to your customers how the product works so you can reach a broader audiance.

Moreover, note that when you find a manufacturer, you will have to pay extra and/or will get a higher MOQ for your modifications.
For example, for a product I bought, I wanted to buy 300 of them. The manufacturer did the modifications I asked but charged me a higher price because normal MOQ is 1,000. And for the packaging, I had to print 1,000 boxes and guides even if I just needed 300.
They also told me that if the modifications I wanted would change the PCB, it would be more cost effective to raise the MOQ to 3,000.