Hi everyone,
I have found a way to significantly reduce capital and operational costs for brick and mortar stores that sell consumables, while improving convenience and multiplying sales/sq ft by many times, hypothetically. I have had positive feedback from several business professors, the idea appears to be sound. It relies on using a technology that has not been used on the scale which I envision, although the technology and such works fine. There are a few questions I have:
-I need a company to be able to make what I envision. It is doable, but it needs development, and I don't know which companies would be willing to do the R&D for a startup. I wanted it to be a partnership where they can have more future profit in exchange for lower startup costs for that one store (like them being a franchisee). How do I get someone to get interested in making it?
-I have trouble finding a way to patent it, as changing the way it is used may not have any differences in terms of a patent. (It would be more complex than what is on the current market, so if that complexity can be captured, then it could be patented) I would need a partnership with an entity that creates this technology; however, they may choose to use the idea themselves without me once they know how it is done. This may not be the case, as business requires many skillsets, some of which they may not have, which could be provided by me (but then, they may go to a more seasoned professional, or anyone else for that matter. But I don't think so, as they would just be a manufacturer) Should I get them to sign a NDA?
-In addition, other retailers may imitate the idea as well later. This may be a worse threat, as they have the resources to scale and grow much faster in outlets (although, franchising may alleviate this issue somewhat). I think this is inevitable, and then the market comes into play. What can I do about it, other than a patent? I think just doing a good job.
-Any tips on getting others to join my team? Can't have a one man show. I know the types of skills needed to add in the team, like someone who knows operations management. I just need to know how to find those people. I heard that 'expanding your network' is a big thing for entrepreneurs, but there are other ways (although putting a craigslist ad probably isn't the way to go.)
Maybe it doesn't matter so much about this secrecy stuff, I probably can tell more, just treading lightly at first. Thank you for reading!
I have found a way to significantly reduce capital and operational costs for brick and mortar stores that sell consumables, while improving convenience and multiplying sales/sq ft by many times, hypothetically. I have had positive feedback from several business professors, the idea appears to be sound. It relies on using a technology that has not been used on the scale which I envision, although the technology and such works fine. There are a few questions I have:
-I need a company to be able to make what I envision. It is doable, but it needs development, and I don't know which companies would be willing to do the R&D for a startup. I wanted it to be a partnership where they can have more future profit in exchange for lower startup costs for that one store (like them being a franchisee). How do I get someone to get interested in making it?
-I have trouble finding a way to patent it, as changing the way it is used may not have any differences in terms of a patent. (It would be more complex than what is on the current market, so if that complexity can be captured, then it could be patented) I would need a partnership with an entity that creates this technology; however, they may choose to use the idea themselves without me once they know how it is done. This may not be the case, as business requires many skillsets, some of which they may not have, which could be provided by me (but then, they may go to a more seasoned professional, or anyone else for that matter. But I don't think so, as they would just be a manufacturer) Should I get them to sign a NDA?
-In addition, other retailers may imitate the idea as well later. This may be a worse threat, as they have the resources to scale and grow much faster in outlets (although, franchising may alleviate this issue somewhat). I think this is inevitable, and then the market comes into play. What can I do about it, other than a patent? I think just doing a good job.
-Any tips on getting others to join my team? Can't have a one man show. I know the types of skills needed to add in the team, like someone who knows operations management. I just need to know how to find those people. I heard that 'expanding your network' is a big thing for entrepreneurs, but there are other ways (although putting a craigslist ad probably isn't the way to go.)
Maybe it doesn't matter so much about this secrecy stuff, I probably can tell more, just treading lightly at first. Thank you for reading!
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