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that is a very interesting idea. to spread the word you would best call the different chains and never give up in trying to contact them. in terms of world wide, does this type of service apply to countries other then the States?
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My honest opinion would be to stop...and change the name of your website and maybe even the name of the product first. You can keep your website, but if you could come up with something a little catchier than changemynameonline.com you could be golden. then have both link to the same site.
The product is AWESOME! So, instead of changemynameonline.com you could have that, plus...marriagemojo.com or something catchier like that. And instead of just "The name kit" you could have "Mojo: The easy name change kit" with Mojo Basic, Mojo Plus, and Mojo Supreme. I'm just using "Mojo" randomly. I'm not necessarily saying to use it. If you are already reaching a large chunk of brides, I'm guessing you are seeing a decent amount of sales and income. You may consider spending a big chunk on television ads on Oxygen, HGTV, ect. along with advertising at wedding cake and dress specialists. There are fewer and fewer places selling wedding dresses. I'm pretty sure Saks is getting out of the business now too. So you have fewer places you need to advertise. BUT NOT before you are prepared with a catchier name and maybe some upgraded visual on the website. DONT use Times New Roman...NEVER |
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In terms of getting it into stores; a company like Target or Walmart will usually want to see 3 years of positive sales, steadily increasing, and a well written business plan. Don't worry though, you have plenty of other stores that will take this product right now and you don't need these big names to become lucrative. My suggestion is to rework the marketing aspect like we have mentioned above. Once thats complete, start searching for Sale Rep groups and ask if they are interested in taking on your product. A sales rep group can consist of 1-500+ "road warriors" who have key contacts with retail stores and travel to locations and present new product. Most work solely off of a commission so they don't get paid unless they sell! The average commission rate is 15% so you'll want to work that into your calculations for a wholesale cost. Also be sure to factor in the small things that might come back to haunt you; i.e shipping, packaging, discounting (some bigger companies will automatically want a 10% discount), etc. I think you've got a great product and with good representation you can go far with it. Off the top of my head I would suggest checking out OneCoast, but do your research! |
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when you get a store interested, ask them for a trial period where they put 10 products on the shelf for $25. (just an example) After 1 month they owe you $200 - $20 for each box. This then makes their ROI infinite for the trial period because they have no money out of pocket. They give you 2 sqft of one shelf and possibly make $50 or what ever the price. To secure yourself, get a Promissory note written for their repaymnet to you in 30 or 60 or 120 days and do not give them more than a few products, so you can spread wide, measure, and eat the cost for 30 days. Every month go to the store and count the number of boxes on the shelf and ask them for payment on the missing boxes. If you work it right you should then be able to slowly build up to a point where you hire someone at $10/hour to travel around collecting money for you. if you need help expanding I know some guys who would probably think this could work for them. On the few details I have. This is what they like to do.
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Is your market only limited to brides and grooms?
I don’t know much about your industry but don’t 50% of marriages end in divorce meaning that out of all the people married in America at least 50% of them are possible customers to have to change their names back maybe even their kids names. This will open up your possible market from 3 million to over 75 Million. So basically use your current site and diversify it a little bit or create a new website that can cater for this market. In terms of getting your product into stores I would look at creating some sort affiliate with current products. Create a value proposition where current venders of bridal products can pass on your services and get something out of it for themselves. Good Luck with it, |
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could you tell us now how profitable you are with the current name, website, and product? |
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