New Business Idea

[ThermalDynamic]

Hello,

A group of us have come up with a new business idea and we were hoping for some feedback on the idea. Our idea is a jacket that allows you to change the temperature as the weather changes throughout the day. An example of this would be if it is cooler in the morning the jacket could be set to a warmer temperature, while if it is warmer later in the day the jacket can be adjusted to a cooler temperature. This jacket will help to eliminate the need for multiple jackets.

Thank You

[Harold Mansfield]

Sounds good so far. What else can you tell us? Are there any specific things that you're wondering about?

[ThermalDynamic]

Thank you! We are wondering about a price point as well as what target market this would be best for. We were thinking about focusing on outdoor recreation but are worried that might be too limiting. We are also concerned that it might be hard for us to enter into a fairly saturated market and if this product will be successful.

[Eric Schleien]

That is interesting, it probably requires a lot of energy, unless it's just a matter of opening up some breathing holes. But I could see it be valuable.

[Harold Mansfield]

Thank you! We are wondering about a price point as well as what target market this would be best for. We were thinking about focusing on outdoor recreation but are worried that might be too limiting. We are also concerned that it might be hard for us to enter into a fairly saturated market and if this product will be successful.

It is a saturated market, but so is everything these days. If it's a good product it has a shot. Price point is relevant to your demographic.
If you're targeting Moms to buy these for their kids, then yeah it has to be low.
But if you're targeting outdoors, hunting, sports and that kind of market you can probably charge more.

After 20+ years of not needing cold weather gear, I'm moving to Michigan soon, so depending on the style I'm going to be interested in pretty much anything like this.

Unfortunately no one can tell you if it will be successful. Get some prototypes made up, and start surveying people and getting some feedback.

[Fulcrum]

Unfortunately no one can tell you if it will be successful. Get some prototypes made up, and start surveying people and getting some feedback.

This. Without knowing exactly how you plan to execute the idea, this is the best advice that can be given.

@ Harold, welcome back to the deep freeze. I hear Michigan has had a fun winter.

[Paul]

The idea sounds nifty and I think you can find a market. Coats and jackets are a dime a dozen but if you can make a light jacket warmer or a heavier coat extra warm there are probably markets. It may be an elite product for outdoors people. Obviously the first questions are about the technology to be used and the cost of production. I wouldn't worry yet about marketing, there are ways to do that once you have the product. A trade show may be the best launch.

Alternatively, if possible try for a patent. Then it may just be a licensing deal. That may be the simplest and most lucrative path.

[tallen]

I think products like this are already on the market -- this one has three different settings, high, medium, or low, for "precise heating control" -- https://www.makitatools.com/products/details/DCJ200ZL

Or were you thinking of something other than a battery-powered electrically-heated jacket?

[FlipzSide]

Reminds me of the self-drying jacket that Marty had in Back to the Future. People would pay lots of money for something like that. I'm thinking for camping it would we really useful. Just make sure it looks stylish.

[Gabby6]

Sounds good :eek:

[enevins87]

You mentioned not being sure of target market or price point. Why not try college campuses? I know I went to a school that was normal hot weather at the end of summer when you start the fall semester and then got freezing cold and wind chill made things unbearable. College market works because kids have less money to spend on multiple jackets and you have the opportunity to come up with licensing deals with universities to put their logos and sports teams on them.

Of course this all depends on getting your cost structure low enough to make it feasible for volume sales to large numbers of not-so-wealthy students. Good luck!

[RjMaan]

I like your business idea and i hope you known how to make such Jacket. Once you made the jacket, the remaining thing is its marketing.