If you've had a product in mind that would sell a few million through
infomercial advertising, your idea could be one of the next big hits As
Seen On TV! Edison Nation has partnered with some
of the best direct response (DRTV) firms in the country to find the best
innovative products for 'As Seen On TV' Innovative Product Search.
Some of you may have entered Edison Nation's 'As Seen On TV" competition last year. Well, in 2010, the search company will have quarterly competitions for DRTV products. The first one is accepting entries now.
What direct response companies are looking for now are money-making concepts for products in these fields:
• Beauty and Health
• Weight Loss
• Kitchen Gadgets
• Household Cleaning Products
• Pain Relief
• Pet Products
• Self Improvement
• Sleep Aids (Snoring remedies)
• Lawn & Garden
can submit as many original products as you like; each one must be
unique and protectable. Each entry costs $25 each. Ask yourself these
questions about your concept before you submit, because Edison Nation
will be asking these questions too before deciding on which products to
propose to its infomercial partners.
- Does your product solve a common problem or fulfill a dream?
- Does your product transform your lifestyle?
- Does your product appeal to impulse buying? Does it hit hot buttons?
- Can the product be easily explained or demonstrated in a visually interesting manner?
- Does your product have mass market appeal?
- Does your product have a fascinating story to tell about its development and/or use?
- Is your product's perceived value at retail 5 times greater than the cost to manufacture?
- Is your product an incredible value - a bargain that cannot possibly be missed?
- Does the product have the potential for ongoing sales (refills, supplies, etc...)?
Beyond all of the above, your product must be protectable. My advice would be to submit a provisional patent application to the USPTO before you submit your idea to Edison Nation.
Edison Nation has revised it website, and I can no longer give you direct links to the Innovator Agreement and the Assignment Agreement, which are both in your best interests to read and understand BEFORE getting involved in this competition. You can download the both agreements by visiting the Frequently Asked Questions page at Edison Nation and clicking on "Where can I download and review the legal agreement for Live Product Search?" The document you download will contain both of the agreements.
You should read everything available on this competition, including all of the FAQ answers. When you read the answer to How Much Will I Be Paid?, keep in mind that the fees you get will be a percentage of Edison Nation's revenues, not the total product revenues.
Deadline for the first round of entries (1st Quarter, 2010) is March 1, 2010. Find out more information at Edison Nation.