You have identified an opportunity for a new product, roughed out a design or maybe created a prototype of the product that will answer an unfilled need. Your conversations with associates and friends as well as your own research leads you to believe the product’s potential would result in significant sales and profits. You would like to start the development process….but where to begin?
After nearly 60 years in business, HLB believes that every product should be evaluated for viability before any additional money is invested.
This is so critical because unfortunately, most new products fail. In fact, a quick Google search will reveal that 80% of them are not successful.
The reasons for this are not always obvious or easily identified. Our team of highly experienced evaluators can help you understand the factors that determine a product’s basic viability before you commit to spending money on product development.
HLB’s Concept Evaluation service provides the needed insight into the viability question. We created the service because we do not want an inventor or investor to spend money on a new product until certain key characteristics of it are investigated and explained.
We provide a comprehensive examination of products, social media, relevant safety or regulatory issues, intellectual property, design, engineering and manufacturing processes. Concept Evaluation is more fully explained on our website: https://hlb.com/concept-evaluation/
HLB knows how to evaluate the viability of a new product concept. We have been developing products for close to 60 years. During that time, we have done work for 1,500 clients, been awarded 500 patents and developed hundreds of breakthrough products. Our staff of researchers, designers, mechanical and manufacturing engineers as well as our long-time strategic partners know what is required for a product to be viable. HLB is proud of its history and the fact that our product expertise has helped our clients develop many marketable products. Just as importantly, we have provided insightful counsel to others when a return to the drawing board is needed