Is My Product Idea Profitable?

Lots of customers frequently need to know if their product idea is worth the money. The key here is knowing three important points about product sales:

  1. Ideas that solve people's problems, sell: As long as the product idea is focused on giving a solution to a specific need of a potential customer, it will turn out profitable.

  2. Ideas with certain innovative features, sell: In the world we live in, competence is key. Bench-marking can be a great exercise to help you spot new and fresh ideas that can give your product a unique touch.

  3. Ideas with benefits to the customers, sell: Always have in mind that your final customer will always appreciate any effort made to give your product a meaningful end that has been thought to make the product easier to use, carry, charge, among many other things.

Usually, the initial start up cost for design can be pretty affordable, to over $250,000 depending on the following factors:

  1. Size of the design

  2. Material of the design

  3. Complexity of the design

  4. Design uniqueness