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Just started new business, please give opinions?

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lee-mag-ma

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Hi all,

I'm a 20 year biker and I a few years ago I came up with an idea for a magnetic cup holder because I couldn't find one on the market. A year, thousands of dollars, and hundreds of version later I found the right combination of materials. I and a few others tested them for a year (including a cross country ride for me during the worst heat wave in a century), and then I patented the design. Please check out http://www.magnificent-ma.com, I've had people by them from me at local rides and rally's; but I'm eager to find out what the larger biker/rider community thinks.

Thanks everyone

Lee
lee@magnificent-ma.com
http://www.magnificent-ma.com
[ame="http://youtu.be/XXSer5yuZkg"]You Tube Video[/ame]
 
lee-mag-ma said:
Hi all,

I'm a 20 year biker and I a few years ago I came up with an idea for a magnetic cup holder because I couldn't find one on the market. A year, thousands of dollars, and hundreds of version later I found the right combination of materials. I and a few others tested them for a year (including a cross country ride for me during the worst heat wave in a century), and then I patented the design. Please check out http://www.magnificent-ma.com, I've had people by them from me at local rides and rally's; but I'm eager to find out what the larger biker/rider community thinks.

Thanks everyone

Lee
lee@magnificent-ma.com
http://www.magnificent-ma.com
You Tube Video
Click to expand...

I like the general idea. Have you considered other vertical markets like snowmobiles, ATV's, car's and other vehicles? You might also consider licensing to Harley Davidson or perhaps getting logo customization as part of your services.

Your YouTube video says Patent Pending, so I assume you are getting a utility, design patent or did you just file a provisional patent? Are you doing the PTO claims filing yourself?

Good luck on sales. I do have a great respect for inventors such as yourself.

RB
 
I think this is a pretty good idea and I would guess there are a lot of riders interested.
Good luck with the product.
 
Really like the idea, and I'm absolutely planning on buying one. The pitch video needs some work though. (Not in the "professional videographer" sense, but in the "SELL ME!" sense. Bring some excitement to it!)
 
I am not your target demographic, but I like it. From the photos it looks well built, and I wish you the best of luck with it.
 
I like it. I'm curious how the turbulence affects it without the windshield since none of my bikes have one. Also email sent concerning other opportunities.
 
First let me say thanks to everyone, I was truly surprised by how enthusiastically the product has been received. Two little posts have now been "picked up and re-posted" on 10+ sites, 3 of them having nothing to do with motorcycles...1 of them is a dating site! To answer some of the questions and make an apology:

1) To Scott: I apologize for the placement of the posting initially, I really was looking for opinions, and frankly was not expecting the level of response.

2)To Red: I did the the PTO claim myself, unfortunately the patent office is backed up for years, fortunately a patent pending can actually provide a higher level of protection than a finalized patent. Yes I have considered other verticals, municipal business, and retailers. In fact I expect to have the product in 7 - 10 retailers by the end of the month. If the cup holder works out I also have patents on 5 other seriously cool motorcycle products. However...it's not time to quit my day job yet.

3)Invision: Your absolutely right the video is not professional quality. I wanted to get an idea if the product would actually sell before putting anymore capitol into marketing. I literally went through almost 100 versions before I came up with the right combinations of materials and adhesives. Had I had any clue how complicated the product needed to be to in order to work as well as I wanted, and have the durability to last for years; I probably would never have started the project.

Thanks again everyone! I've had a few people email me and tell me to post updates on the company's progress, is that ok?

Lee
 
lee-mag-ma said:
2)To Red: I did the the PTO claim myself, unfortunately the patent office is backed up for years, fortunately a patent pending can actually provide a higher level of protection than a finalized patent. Yes I have considered other verticals, municipal business, and retailers. In fact I expect to have the product in 7 - 10 retailers by the end of the month. If the cup holder works out I also have patents on 5 other seriously cool motorcycle products. However...it's not time to quit my day job yet.
Lee
Click to expand...

Some words of caution...

I would suggest you have a low-level IP intern at a firm review your filings or claims that describe your patent. Specific wording in the claims portion that describes the actual design is very important. Vague language is one way infringement can happen. This should be done in conjunction with a comprehensive patent search. This process involves more than a mere key-word Boolean search on PTO web site. The University of Texas Cockrell School of Engineering has a powerful patent search archive. If you enlist the help of an legal intern, they will help you explore most of the prior art. I can imagine for "bottle restraining device" etc., there must be many other such patents. I just tried the Google Patent search engine query for phrase magnetic beverage cup holder. I see many, many pages of results.

I can't remember, but do you have your product Trademarked with a really catchy logo/name? In many ways, TM protection for a consumer product such as yours is more important anyway. Consider the example of Coca-Cola or Disney. In short, a trademark is a brand name. The process of TM is easy if you have not done it already.

It seems from the video, the cruiser market is the niche to follow with regards to motorcycles. Sport-touring folks use tank bags which will impede the use of your magnetic cup holder. Dual-sport riders due to the nature of the sport, does not lend itself to it. For this, seek out large groups of cruiser web sites for mass marketing, including co-branding.

I did not see a Twitter or Facebook page, but you might start one and develop an affinity base. It looks like you might want to attend some really large HOG rallies next year to promote your product(s). In the end, it comes down to marketing, marketing, marketing, sales, sales, sales.

RB
 
This is a nit, but your website description text:
"We're proud to introduce the MAGnificent Cup Holder, magnetic cup holder for motorcycles. It really is magnificent, it holds everything from a coffee cup to a 44oz cup; without slipping AND WITHOUT SCRATCHING YOUR TANK!

If your not using it, just toss it in the saddle bag.

It's a common diction error, but I think you mean "you're," as in "you are using it," not "your," adjectival.
 
fortbriscoe: how embarrassing. I'm normally very good about grammar, thanks!

Red: thanks for the time and effort you've spent thinking about the the product. Regarding the patent, having a patent review done is an excellent idea. If you look closely at the 3 patents that pull up in the google search you'll notice that they a substantially different enough that neither they nor I are infringing on each others patents. Regarding the name, we've passed all the hoops the TMO puts up and am expecting the "official" letter any day. At that point TM will appear next to the product name.

I'd like to ask a favor if I might, I'm more than willing to discuss my patents and trademarks with you, but I'd prefer to do it privately. Please email me at lee@magnificent-ma.com

Thanks again, It's cool to me that you've taken this level of interest.

Lee
 
Hi all,

I promised to keep people up to date. The past few days have been incredible, I never dreamed the cup holder would get this much attention this quickly. Orders have come from 9 states and 2 countries Also, we've had retailers come on board and I'll start posting those as the shipments arrive at their locations. I'll be posting the new videos that were requested in the next day or two.

Also, I expect to be making an exciting announcement before thanksgiving.

Thanks Everyone!

Lee
lee@magnificent-ma.com
www.magnificent-ma.com
 
Very nice Idea.
You need to show how applies on different types of bikes and riding environment.
creative idea!
 
I like the idea. Ferfect for my wife, I tink. My concern is the angle it is set at. Her FZ1 tank is nearly parallel to the ground. It appears your cup holder would have her drink leaning at some angle if she used it. Is an angle adjustable one possible? Or simply make a couple different angles? She's been asking for a cup holder, this may work, but I'm the kind of guy who needs to see it and feel it before I buy. Please do let us know of retailers so I can do just that.
 
My sentiments as well. Hopefully the design allows the user to swivel or change the angle of the cup holder so it can be adjusted to individual preferences and surface angle conditions.

Great to hear about booming sales for your magnetic cup holder. I love to hear entrepreneurial/inventor success stories. When you get a chance read about James Winner, of Winner International. He invented The Club. It is a metal device that attaches to the steering wheel to help prevent automobile theft.

RB
 
Just a thought, but I wonder how much buying a little 10'x10' booth at the Dallas Motorcycle Show would cost you? Nothing better than face to face marketing when you have a new product. Let everyone get their hands on it and test it out.
 
cwadej, we have retailers in the Dallas/Ft. Worth area coming aboard. Once they have the cup holders in stock I'm sure they'll allow you to test the angle on you wife's FZ1. I should be able to announce the retailers in the next few days.

Lee
 
DFW_Warrior said:
Just a thought, but I wonder how much buying a little 10'x10' booth at the Dallas Motorcycle Show would cost you? Nothing better than face to face marketing when you have a new product. Let everyone get their hands on it and test it out.
Click to expand...

+1

He might be even able to "share" the booth with another vendor who offers ancillary products. How about the ROT or Sturgis rally too?:rider:

RB
 
Unfortunately, with the exception of Saturday, I have other business commitments during the time of the show. However, I may come up on Saturday with some signage and cup holders. We will have booths at 4 - 6 major events next year including ROT, Sturgis, Laconia, Daytona, and 2 others.
 
Congratulations Mr. Entrepreneur!

For what's it worth, here's my take on owning a Patent;

Great to have, but the greatest patent in the world is useless unless you can legally defend it. Which, unless you're independently wealthy, you can't. If a big boy (or Chinese knock-off) wants to steal your design they're going to...see you in court. 3 years and tens of thousands of dollars later you might win a victory, the terms of which you'll have to spend thousands more attempting to collect.

If the court case prevails in favor of the defendant then you've just made your product open for anybody who wants to copy it. For a sobering story on patent litigation read about Bruce Myers, inventor of the Beach Buggy. His pursuit of his patents destroyed his company.

The best defense against copies is to hit the sweet spot on price & quality and keep innovating new products. Who wants to buy a knock-off when the original is better & at a fair price?
 
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