My advice for not breaking the bank when you’re a bootstrapping entrepreneur that’s extremely short on cash? Ditch the expensive American product development companies that charge $12,000+ for product design / prototype and stick to FIVERR.
Here's how I started and have done it cheaply (to me) so far. I hired freelancers on Fiverr. Most of them charge less than $200. A few charged around $250. But all I needed were basic drawing sketches, 3D sketch, then a 3D CAD image, animated artwork, and a brand logo. I spent less than $1,000 for my entire product design process and a detailed tech pack.
Next step was to take my 3D CAD Model or Detailed Tech Pack to Alibaba to find a Chinese manufacturer. This is how I have spent the minimum amount of money and still ended up with amazing results.
My chosen manufacturer is still at Canton Fair networking with other manufacturers to help with my product; but so far the estimate he has given me for prototype cost has been less than $3,000.
The cost was originally less than $500 on his part but other manufacturers charged higher because the complexity of one of the parts, so he has been negotiating to find one that’s more affordable.
I will keep you guys updated on my journey until I finally have the physical prototype in my hands and how much everything costs including marketing. I will also try to keep my marketing as cheap and effective as possible.
I spent a whopping $732.93 for my product design on my journey to create a perfect prototype.
byu/Busy_Plenty_6602 inEntrepreneur
Posted by Busy_Plenty_6602
13 Comments
Nice! Are you making artwork models like bearbricks or?
Is 12k the average rate? Seems a bit high
If that’s a good product you’ve designed you’re going to see copies of it on Alibaba before you even launch.
I would definitely agree with you on this one. I run a software services company based in Pakistan and most of my clients are from America and Canada and the clients are basically impressed by two things first one being obviously the quality of work and second is the amount I ask for the development of either their MVP or software which is very low compare to the market they are in. I hope you have a successful journey on building whatever it is.
Good for you mate!
Customers determine what ‘perfect’ looks like. You do not produce a prototype for manufacture, but to get the market feedback to figure that out.
Especially if costs are low — since there is no barrier to competition. I don’t care who told you what, they haven’t told you about the ghost shift.
[The Secret World of “Ghost Shift” Midnight Manufacturing](https://www.messynessychic.com/2021/07/08/the-secret-world-of-ghost-shift-midnight-manufacturing/) frankly, this is why Chinese manufactures bid low. The lower the bid, the more it’s going on.
You want to learn about *Strategic Division of Labor.* No manufacturer has the entire blueprint. Assemble in Mexico, Ship to America.
What are you doing with the savings?
How tf are you saving so much??????
Just wait until you try to design something more complicated than a cube.
Great initiative. Also consider outsourcing to less expensive resources in other countries
I can build an MVP between $3-5K
Sweat shops have always had that appeal.
You are on the right track. Just envision the Manhattan Project product design model. No “one company” knows the full extend of what the end product will be. Although it’s not a guarantee with confidentiality, finishing the final product on shore allows you the ability to get in the car and develop a relationship with your local manufacturer. Also obtaining an NDA with enforceable teeth is more likely on shore. In addition most manufacturers expect you to present them with an NDA. What you save in off shore virtual prototyping can be invested into the local employment/economy. Your major questions are, how much are customers willing to pay, and what margin are you willing to absorb to ensure the “Made in USA” label is on your product? Good luck with your product and welcome to the world of Product Development.