The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Developing a product in China

A detailed account of a Fastlane process...

polaroid22

Contributor
Read Fastlane!
Read Unscripted!
User Power
Value/Post Ratio
87%
Oct 26, 2021
69
60
Hello,

I got hyped by another thread on this forum: about a company searching for products with bad reviews and then applying the feedback to create a better product. So this looks very interesting to me, but I already got some question. So maybe somebody on this forum already has some experience with this?

- How do you find the best supplier? (go to alixpress and search for relatable products and see if they can make it?)
- Whats stopping them(the suppliers) for selling the same product on amazon themselves after it is developed? (as I figure a patent will cost a lot and is a long process, just a wild guess, no experience in that area).
- Do you have to finance the development part? For example: the supplier already has a shower radio, but I want to include wifi and I want a better looking design as well.
- Or is the development part for free as long as you buy X products. For example 50$ per radio and if you buy 100 radio's from them the development part is free. Which already adds up to 5000$ (which for most of you prolly is not a lot of money)

Thanks a lot!
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

BizyDad

Keep going. Keep growing.
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
417%
Oct 7, 2019
2,895
12,068
Phoenix AZ
I don't have the answers, but I feel like this is a good time to plug @Walter Hay 's books...

 

Walter Hay

Legendary Contributor
EPIC CONTRIBUTOR
Speedway Pass
User Power
Value/Post Ratio
401%
Sep 13, 2014
3,318
13,318
World citizen
My answers are in italics.
How do you find the best supplier? (go to alixpress and search for relatable products and see if they can make it?) Suppliers on Aliexpress are rarely the actual manufacturer. Finding genuine manufacturers in China needs careful research.
- Whats stopping them(the suppliers) for selling the same product on amazon themselves after it is developed? (as I figure a patent will cost a lot and is a long process, just a wild guess, no experience in that area). No patent, contract, or IP laws will protect your product from being copied. The Chinese manufacturing industry thrives on copying, and if you have something made to your specifications it is likely to be on the market before you even see a prototype.
- Do you have to finance the development part? For example: the supplier already has a shower radio, but I want to include wifi and I want a better looking design as well. You will have to pay for the development one way or the other. If a mold is required - you pay for it. But my book explains how to avoid having the manufacturer use your mold to make the product for your competitors.
- Or is the development part for free as long as you buy X products. For example 50$ per radio and if you buy 100 radio's from them the development part is free. Which already adds up to 5000$ (which for most of you prolly is not a lot of money) This is why I say you will pay the development cost one way or the other.

My advice is to look at manufacturers in other countries to find a product that is not already being imported into your country. Avoid competition - at least until copycats see that you are selling well.

WALTER
 
Last edited:

polaroid22

Contributor
Read Fastlane!
Read Unscripted!
User Power
Value/Post Ratio
87%
Oct 26, 2021
69
60
My answers are in italics.
How do you find the best supplier? (go to alixpress and search for relatable products and see if they can make it?) Suppliers on Aliexpress are rarely the actual manufacturer. Finding genuine manufacturers in China needs careful research.
- Whats stopping them(the suppliers) for selling the same product on amazon themselves after it is developed? (as I figure a patent will cost a lot and is a long process, just a wild guess, no experience in that area). No patent, contract, or IP laws will protect your product from being copied. The Chinese manufacturing industry thrives on copying, and if you have something made to your specifications it is likely to be on the market before you even see a prototype.
- Do you have to finance the development part? For example: the supplier already has a shower radio, but I want to include wifi and I want a better looking design as well. You will have to pay for the development one way or the other. If a mold is required - you pay for it. But my book explains how to avoid having the manufacturer use your mold to make the product for your competitors.
- Or is the development part for free as long as you buy X products. For example 50$ per radio and if you buy 100 radio's from them the development part is free. Which already adds up to 5000$ (which for most of you prolly is not a lot of money) This is why I say you will pay the development cost one way or the other.

My advice is to look at manufacturers in other countries to find a product that is not already being imported into your country. Avoid competition - at least until copycats see that you are selling well.

WALTER
Thanks a lot Walter! Yeah I live in Belgium, I reckon Belgium is too small of a market to go after. But I guess I could ship within the EU pretty easily.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Walter Hay

Legendary Contributor
EPIC CONTRIBUTOR
Speedway Pass
User Power
Value/Post Ratio
401%
Sep 13, 2014
3,318
13,318
World citizen
Thanks a lot Walter! Yeah I live in Belgium, I reckon Belgium is too small of a market to go after. But I guess I could ship within the EU pretty easily.
Yes, a big market is there for you, and it is likely that you could find a manufacturer in the EU. You might also like to try other nearby countries such as UK, Ireland, or Turkey.

You might like to see my latest update here:

CHINA PLUS ONE STRATEGY


Walter
 

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top