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Potential for baby product

MoneyDoc

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Jun 24, 2014
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Hey everyone. Hope you're all well and succeeding in your fastlane goals!

I have a friend in China whom has brought my attention to a new baby thermometer being produced there.

I quickly contacted the manufacturer and have secured exclusive rights to the product for the Canadian market when it comes out.

The product is a thermometer that essentially you attach to the babies arm (made of super fine material, very comfortable, baby won't even know its there).

Essentially the product comes with an app, you download from the iTunes or Google, and you get live readings of your baby's temperature right on your phone. You can record all the readings etc.

Whats really cool is when your baby is sick, has a fever, your doctor tells you to check up on your baby and make sure temperature is within a certain range otherwise you would need to bring him/her to a hospital. The app lets you set this temperature, if the temperature does exceed that threshold, your phone will beep like an alarm.

We all know how hard it is to look after the baby at night while your sleeping. It's perfect for situations like that.

I was just wondering what you guys think, and if anyone is interested, I can give you the supplier information (I am not related to them, I am not Chinese, the supplier is in China, You can't be from Canada because I have exclusive rights)

What do you guys think of product, does it have potential?
 
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Moneymakermitch

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Nov 12, 2013
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Let me know if you need a partner. Sounds like an awesome product. I have background experience in marketing, I'm from Canada as well.
 

QueenVictoria

New Contributor
Aug 27, 2014
33
16
#1. Have you done market research on your product? Similar companies that are making those products, the target demographic? Other companies that are developing more superior products? etc

#2. Have you tested the product on users? Receive feedback? Limitations of the product? Potential failure/ inaccuracy of the product?

#3. Also Canada has a health care system that is different from China/ US/ etc. It could be that once this product is launched, hospitals will have this product available/ or a similar product available for free.

I think before you jump and invest all your money into this one thing- you should make a SWOT analysis.
 

mikekob

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Oct 29, 2013
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Denver, CO
Wow that's pretty cool. Apple announced today their new Health app. Stores personal health info and can be used in emergency situations. The second that API is available we're putting it in one of our products.I think most things within the mhealth or similar are about to explode. Anything in this area should do really well.

I'll be following along to this one.
 
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