jigman Posted April 8, 2013 Report Share Posted April 8, 2013 (edited) Hey Guys, I have a couple of new baits that I'm trying to sell to the major manufacturers. Has anyone been down this road? I'm looking for any information I can get. Thanks, Gary Edited April 8, 2013 by jigman Quote Link to comment Share on other sites More sharing options...
carolinamike Posted April 8, 2013 Report Share Posted April 8, 2013 jigman, these companies that you are trying to market your baits to, have they signed a non disclosure form, or do you have patents on these baits? I don't mean to sound like a smart a** but if you don't have some type of protection and you're showing samples of baits, you have just given your ideas away. Also do you have any proof of sales projections, or how your ideas would impact the market? Large companies could care less whether or not baits catch fish, their concern is, is it a marketable product? It's all about the money. 3 Quote Link to comment Share on other sites More sharing options...
jigman Posted April 9, 2013 Author Report Share Posted April 9, 2013 Carolina, Way ahead of you on the non disclosure. I had one positive response from one of the BIG companies who wanted me to send them the prototypes, no disclosure no nothing. NOT. I don't have any sales projections at this time. I just started looking into this to find out if it was even possible. Thanks for the feed back. Quote Link to comment Share on other sites More sharing options...
Bass4Me Posted April 9, 2013 Report Share Posted April 9, 2013 I have a story to tellyou and it will help in making the decision on how to sell to the big boys. Most everyone has heard of Al Lidner from the "In Fishermen Tv Fishing show and monthly magazine. Here is what happened to him back in the late 70's or early 80's. He invented a lure used for Walleye fishing. .Al did the same thing many other guys did. He had everything in place and protection from theft of his lure. Al Linder invented the now very famous "Lindy Rig" They kept his name and sold several million over the years. Al's biggest mistake he made and he's talked about this several times - He sold the bait for around $2500. And no right to any compensation from future sales. If Al had picked option 2 below... He would be rich today! Well Every inventor has 2 or 3 options when they decide to approach a company with an idea or actual product. 1) Out right sell the Company all rights and ability to make the lures for a set amount. Done deal get your cash and the company takes the bait and deides to do what they want with it and they keep all money earned from the sales of the bait. 2) They sell the bait / idea to the Company and get an agreed set percentage of each bait sold and that is a flow of cash. If the bait is popular and makes good sales then the inventor can make a ton of money - or his lure could justt fissle out and be put on a shelf somewhere never to be seen again and he makes nothing from it. 3)I'm not sure if a company would make a partial cash offer with a prcentage of sales to follow. Hope this little story helps. Making the right decision can make or break the inventor of a lure/bait. Quote Link to comment Share on other sites More sharing options...
jigman Posted April 10, 2013 Author Report Share Posted April 10, 2013 Hey Bass, I've already decided that I want a percentage of future sales. If I can get something up front as well, all the better. I'm still in the early stages of this whole process. This may fizzle out before it gets started. We'll see. Thanks Quote Link to comment Share on other sites More sharing options...
