Bob Cashes In On His IP
Patents, trademarks, and copyrights are all forms of intellectual property and just like any other property or business, intellectual property can be bought, sold, inherited, or otherwise transferred. To achieve a sale for intellectual property or a new idea that is yet to develop traction it takes skilful marketing and knowledge in how to target the right kind of buyer for the occasion. So, whether you are the inventor of a revolutionary patented product or the creator of a game changing concept, Bonza Business & Franchise Sales are no stranger to selling these exclusive business opportunities.
Bob called Bonza back in early 2019 because he had a great product he had invented and produced but lacked the motivation to market and sell the large amount of remaining stock totalling over $20,000. The unfortunate thing for Bob was that this business was originally started with the intention of being worked in a family partnership, when this plan fell by the wayside it left Bob disheartened and no longer wanting to continue the business.
When this product was created, it gained success quickly, having sold well over 700 units, achieved great reviews, and was even featured on the popular Australian television show “The Living Room”. With a great product on offer and endless possibilities for someone, Bonza set out to find the lucky new owner.
It is not commonly known but the truth is, you cannot just “sell” somebody a business or an idea, there will always need to be a level of want from another party. An interested buyer will be out there researching and trying to find business opportunities that suit their interests, with unique businesses or niche concepts it is always unknown how long that process will take because the person we are looking for will need to not only like your idea but also see value to investing their time and money into it.
As Bob had already set the business to ‘auto pilot’ and was only actioning sporadic incoming orders from the website, he was happy to patiently sit back and leave to sale in Bonza’s hands. It came down to making sure Bob’s product and business was being marketed in the areas where buyers these days are looking and also being prepared to assist and support all enquiries that came through.
From the initial advert going live to final settlement there was a total of 22 enquires on this business. Bob was able to not only attain money for the intellectual property but also for the remaining stock on hand. A great result for Bob and another excellent example that patience is a virtue and perseverance pays off.