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How to be a Mumpreneur webchat with Julia Minchin. TUESDAY 12th APRIL 12-1pm
Looking for ideas on how to work from home, and perhaps become a mumpreneur businesswoman from your kitchen table?
Join Hippychick founder, and mumpreneur extraordinaire, Julia Minchin for our live webchat on Tuesday 12th April between 12-1pm, to talk through your ideas and queries.
Join Hippychick founder, and mumpreneur extraordinaire, Julia Minchin for our live webchat on Tuesday 12th April between 12-1pm, to talk through your ideas and queries.
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Replies
Thank you if you can help with any of this,
Jellytots
I have created a new product but keep coming up against a brick wall while trying to get the product for sale - it seems very hard to get interest from major companies translated into an actual deal for a licensing agreement, and also impossible to find a manufacturing unit in the UK, and it seems that Chinese manufacturers are only interested in a definite order, at a greater quantity than I need to begin.
I've now decided to press ahead by setting up my own small manufacturing unit, which I think will work really well, but now I have to source the materials and again it's not easy to find genuine wholesalers. Do you have any tips about sourcing materials? Also, what do you think is the best way to ensure compliance with safety standards?
Thank you
Rattleskuttle
I have an idea for a product that is actually quite popular in the US. I would really like to have a go at recreating my own version for the UK market, however haven't a clue where to start. I have done some research and there really isn't anything like it over in the UK.
What should i do once I've made a prototype? Do I get it patented if so how? Do I need to get it checked by some kind of safety standard as it will be for babies?
I would like to just start small as a kind of side-line project/hobby for myself really and plan if all works out to sell my product on my own website. I am crafty and creative but have not ever done anything to do with business so do you recommend I do a small business course?
Any advice would be greatly appreciated from an excited mum itching to get started...
It is difficult to help with sourcing unless I know what materials are needed.
Re compliance with relevant safety standards - talk to the various testing houses eg Intertek, SGS or STR. Trading Standards are also very helpful if you approach them.
I hope this is useful. Good luck - sounds very exciting.
With regards to safety standards - you are planning to supply the most vulnerable market so everything will need to meet all UK/European safety standards. Independent testing houses and Trading Standards will be able to help you with this.
Good luck!
I have a great idea for a product but no idea how to execute it! I have never done anything like this before and would like to read up on what the next steps would be...i am totally in the dark? Can you recommend any good courses or websites that will help a first time mumpreneur wannabe? I am currently on maternity leave so it's a great time for me to look into whether or not my idea could be a possible money maker!
Business Link runs start up courses and has all sorts of relevant advice. They will also help you put together a viable business plan. Banks can also be a useful sounding board with regards to funding options.
You should also enter our Mumpreneur Competition which is running on this website until 20 April. Remember it doesn't need to be an actual product - it can be a concept or just an idea for a business.
Very best of luck!
I wondered if you could give some advice with regards to pricing please.
I have a new product and have managed to get a few quotes from factories to produce it and that's all coming together.
I am stuck as to how to set a RRP and then trade prices. How much margin should I allow? How much do shops want to make - is there a general standard? I don't want to give too much away or not enough so that shops don't want to stock it.
I have no idea where to start!
Thanks in advance.
When you have these figures in place you can then work out what your RRP should be - but you will need to ensure that the market is prepared to pay this price. Check out competitive product pricing and it is always a good idea to get a good accountant to look at your figures before finalising anything.
I hope this helps - it certainly sounds like you are heading in the right direction. Good luck!
I had shipping and duty on my list to factor but not considered currency fluctuations so thanks for reminding me!
This is very useful, again I hadn't thought of marketing contributions/early settlement either.
I think my next stop, as you say, is to find an accountant who has a bit of experience in this type of thing to help me.
Thanks again!
thanks
So hypothetically (at this stage) once I've got my product/prototype patented and 'safe' what would be my next steps 'first point of call' to get a company to actually make it for me?
Sorry if this all sounds very obvious to you, but I really have no experience at all, I guess I'm just looking to see if it is really do-able as it is just a dream at this stage.
thanks again.
There are a number of excellent review websites - your friend would just need to provide product for testing. Word of mouth is incredibly powerful and a lot of people get a great response from social media promotions/offers/competitions.
We are now over our slot time but do please feel free to contact me at Hippychick if you want to discuss this further. I am always happy to help.
Julia