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New project need help #1: Great Idea, no manufacturer

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Blog entry by JKingsbury posted 03-11-2012 10:30 PM 732 reads 0 times favorited 12 comments Add to Favorites Watch
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I’m looking for any skilled woodworker that has the know how to create me some special furniture.
So special I have hundreds of people who want to buy them from me. The problem is
I had two prototypes and times got tough so i sold them.
Each piece i want made will be on the lower end of time consuming projects.
Please respond if you’re in the pacific northwest and might be interested in making some decent money.
My idea could make us rich.



12 comments so far

View WVTODD's profile

WVTODD

115 posts in 1194 days


#1 posted 03-12-2012 01:59 PM

If they can make you rich in the west share the idea and let us easterners become rich too!

View DLCW's profile

DLCW

523 posts in 1304 days


#2 posted 03-13-2012 09:29 PM

jKingsbury,

I live in the northwest and could talk with you more about this.

-- Don, Diamond Lake Custom Woodworks - http://www.dlwoodworks.com - "If you make something idiot proof, all they do is make a better idiot"

View DS's profile

DS

2131 posts in 1070 days


#3 posted 03-13-2012 09:36 PM

There are contract manufacturers everywhere.

I wouldn’t approach anyone without an NDA (Non-disclosure Agreement) and then have a frank discussion about money. Usually a contract manufacturing agreement involves up front money for NRE’s (Non-recurring expenses) and progress payments as thing go along. Production lots of whatever quantity are routinely produced and payments routinely made.

It seems to me, though, that you may be missing several other pieces besides manufacturing. Financing, marketing, distribution, etc. All these things require quite a bit of working capital and lots of connections.

In my experience, the venture money comes first, the manufacturing comes second, etc. You’ll need prototypes AND some hard market research to attract the VC guy’s attention.

IMHO manufacturing is the easy part – perhaps that’s why I am a manufacturer.

If you have your own money it is a lot easier, but, I suspect from your post, that is not the case.
No reputable manufacturer will want to “get in bed” with you and use his own money for your project.

-- "Hard work is not defined by the difficulty of the task as much as a person's desire to perform it.", DS251

View DLCW's profile

DLCW

523 posts in 1304 days


#4 posted 03-16-2012 04:56 PM

I guess jKingsbury wasn’t really interested after all. I would have like to talked with him more about his idea.

-- Don, Diamond Lake Custom Woodworks - http://www.dlwoodworks.com - "If you make something idiot proof, all they do is make a better idiot"

View JKingsbury's profile

JKingsbury

5 posts in 917 days


#5 posted 03-16-2012 05:12 PM

look, I’m not missing what I don’t need, I do appreciate the advice, but I don’t have a company, I have an idea, and DLCW i’m currently dealing with the final bits and pieces of my last project, a security firm from Boston. Currently my situation is this. Due to massive legal fees for running a private security firm, all my money is tied up for another year. I moved out to WA to be closer to my friends who still currently serve on ft lewis. Right now im dead in the water, when i posted that just a week ago, thigns looked a lot brighter. If someone is willing to produce a prototype for me free of charge id be happy to talk but that would give someone a big head and call the prototype a lean. Thats not how I work.

View JKingsbury's profile

JKingsbury

5 posts in 917 days


#6 posted 03-16-2012 05:14 PM

Like i said before, the idea is so simple pretty much anyone who has created a table or lamp before has already had the idea as well. Its just never been focused on for to long. I’ve looked for them online for a year and no one seems to make anything like it.

View seabiscuit's profile

seabiscuit

95 posts in 1074 days


#7 posted 03-16-2012 05:36 PM

Are you my long lost uncle from The Republic of Congo? Do you need me to help move your fortune?

View JKingsbury's profile

JKingsbury

5 posts in 917 days


#8 posted 03-16-2012 05:43 PM

Funny, because I took the first two prototypes i had, they cost me about 39 dollars to make and I brought them to an army post and pitched them there, i had about 45 soldiers ask to buy them, I was on vacation i charged a kid 300 for the prototypes ..I was in a company of 120 men, lets do the math, if out of 1 company 45 purchased at 300 dollars for a set, thats 13500 in sales. the margin is so perfect. there is 4 companies in a battalion. there are 5 bats in a brigade. is that getting clearer for possible sales. I don’t know what im supposed to do at this second. I’m sure then when i turn my finances around in a month or two. I can figure it out. Seabiscuit you’re name sums you up. I still know almost all those people who originally wanted them. The military is a tight group, word and rumors spread like wild fire.

View DS's profile

DS

2131 posts in 1070 days


#9 posted 03-16-2012 06:22 PM

I’ve been down this road before…

Sold $9M of a great product in 4 days at CES with only 2 prototypes. Didn’t have all the ducks in a row. Because of that, I wasted 3 years of my life and $55k of my own money watching it sink to nothing.

People’s greed ultimately killed a great idea. If it had been only a mediocre success it might still be selling today.

-- "Hard work is not defined by the difficulty of the task as much as a person's desire to perform it.", DS251

View JKingsbury's profile

JKingsbury

5 posts in 917 days


#10 posted 03-16-2012 06:26 PM

I’m sorry to hear that DS251, i’m a “novice inventor” and ive only had one product sell enough to pay back what i owe, this one though is different, and ive said that before. The reason why i believe in this product more than the others is because, it will save lives, be totally cool, and it was inspired by my favorite medieval time period.

View DS's profile

DS

2131 posts in 1070 days


#11 posted 03-16-2012 06:26 PM

You find out real fast where your priorities are when you have to chose between going to the bathroom or taking some guy’s $250k purchase order.

-- "Hard work is not defined by the difficulty of the task as much as a person's desire to perform it.", DS251

View DLCW's profile

DLCW

523 posts in 1304 days


#12 posted 03-18-2012 07:52 PM

JKingsbury, sorry to hear about your mounting legal bills. I know what that’s like.

In regards to making prototypes for free, I am a business and have to charge for the work I do otherwise I wouldn’t be in business for very long. All the customers I have worked with understand that prototyping is part of the cost of developing a product and willingly put the budget together to proceed if it is really something they want to do.

I’ve never had a customer ask me to do prototyping for free. There is real outlay of cash for material and utilities to develop and complete a prototype, not to mention time. If I did all the prototypes I’ve done for free, I would not be in business anymore. More then 75% of those I’ve worked with on bringing a product to market, and used me to help them prototype, gave me the production work.

I wish you the best of luck with your project. I hope you are able to find someone who has enough money to do the work for free. I’m just not in that position right now.

And yes, I do understand the military community. I served 23 years in the military and retired in 2000.

-- Don, Diamond Lake Custom Woodworks - http://www.dlwoodworks.com - "If you make something idiot proof, all they do is make a better idiot"

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