Kids toys - selling a product - Page 1
Forum section: electronics / projects

author: steamedhams
author_rank: Regular Contributor
timestamp: July 07, 2021, 09:35:51 am
content: I have been into making kids toys for a while and I am planning to take it to the next level.Has anyone got an idea what it takes to release such a product??Where does one even begin before releasing a product??I don't want to be sued for safety issues or copying someones idea.Start up groups have approached me to join their program but I am not really into the start up culture.I just have an idea and I want to make it happen the easiest way possible without all the fluff.I have listened to Jeri Ellsworth talk about her company I really don't want to go down that road...

author: bjbb
author_rank: Contributor
timestamp: July 07, 2021, 06:47:31 pm
content: Start with Toy Safety Directive, then read the Low Voltage and RED Directives, then finally look at the RoHS and General Product safety Directives.For each directive, there will be a tabulation of harmonized standards, among which you must find the scope statements that are applicable to your product.I am not a lawyer, so cannot offer any useful advice on intellectual property, copyright, patent, or trademark mitigation issues.Start-up 'culture' sucks, at least in North America. Much risk, poor ethics, and difficult financing make North America in general, and the U.S. in particular, a messy and wonderful and awful environment for start-ups.

author: Bud
author_rank: Super Contributor
timestamp: July 07, 2021, 07:06:52 pm
content: Try appearing on you local Dragon's Den or Shark's Tank tv show, if your country has one. If one of the investors is interested they can do everything for you.

author: Scrts
author_rank: Frequent Contributor
timestamp: July 07, 2021, 07:29:07 pm
content: Quote from: steamedhams on July 07, 2021, 09:35:51 amAre you going to do this all by yourself?Quote from: Bud on July 07, 2021, 07:06:52 pmFirst of all, 3 rules from a shark:Very difficult with #2 if you do it alone...

author: steamedhams
author_rank: Regular Contributor
timestamp: July 08, 2021, 01:26:37 pm
content: sure, why not?All the risk, means all the reward.I have people around and family that are all successful in business which can guide me.Getting the money together is just a question of time and saving like crazy.A guy from my school was on this show to sell coconut bowls on Instagram. Totally worked out it seemed.

author: steamedhams
author_rank: Regular Contributor
timestamp: July 08, 2021, 01:28:10 pm
content: I thought North America was fully of tech start ups... I'm surprised

author: esepecesito
author_rank: Regular Contributor
timestamp: July 08, 2021, 02:22:21 pm
content: Quote from: Bud on July 07, 2021, 07:06:52 pmI think going there is good to get publicity, and maybe get somebody interesting to invest. But not the clowns of the show. They always ask:1) How much does it cost to manufacture a unit2) How much can you sell it3) How much did you sell last yearThen they just to (#2-#1)*#3 and offer 10% of that. They call themselves investors... yeah... sure...If you investigate you will see most of the deals closed live, fall apart later of-camera.

author: SiliconWizard
author_rank: Super Contributor
timestamp: July 08, 2021, 06:36:44 pm
content: First thing will be, as bjbb said, figure out what you'll have to comply with. This is significant work.And don't just stick to directives and standards. Safety for toys is not an option indeed.You'll also have to figure out:- Your market. Who are your potential competitors?- Where you're going to have your toys manufactured.- How you're going to get initial funding. Do you have enough money of your own? Are family members and friends ready to help? Would you need a bank loan?I also suggest staying out of the startup ecosystem. For funding, you could consider crowd funding. (Kickstarter, Indiegogo, etc.) The extra benefit of crowd funding is that it gives you early feedback on how much interest there could be in your products.