So how do you get your product onto the promised land of QVC? And what are the pros and cons?
QVC is always on the lookout for new, innovative products. And the company is supportive of entrepreneurs–especially female ones. In fact, right now, QVC is offering a program tailored specifically to women entrepreneurs. Sponsored in conjunction with OPEN from American Express and Count Me In, the Make Mine a $Million Business program is designed to help women grow their sales by offering a combination of money, marketing and mentoring opportunities. It consists of three separate product searches and educational seminars, all whose goal is to help women surpass the $1 million sales mark in their businesses.
Of course, not every product suits the network’s format or marketplace, so here are some questions to ask yourself to help determine if your product is the right fit:
- Does it demonstrate well?
- Does it solve a problem or make life easier?
- Does it have unique features and benefits ?
- Does it appeal to a mass audience (as opposed to a niche)?
- Is it topical or timely?
Of course, with anything that promises great rewards, there’s usually some risk. QVC is no exception. While the network offers an incredible opportunity to new entrepreneurs, potential participants should also understand that they’ll assume some risk should their product be chosen.
Because QVC is so customer-oriented, the company must have enough inventory in stock to satisfy a very large number of potential buyers. That means you must manufacture and ship enough inventory to QVC to meet a very substantial market demand–prior to your appearance on the show. You’re then paid only if or when QVC sells your product. So if you present your product on the show and consumers aren’t interested, you’ll end up sitting on a mountain of inventory. This is important to understand going in, because it can take a large investment to prepare and deliver enough inventory to meet QVC’s potential distribution needs.
QVC and other shopping networks offer a truly awesome way to promote and distribute your product. And even if your product doesn’t sell at quite the level you hoped, you’ve promoted your product to millions of people–advertising you couldn’t afford any other way–who may just buy it next time they come across your product.
QVC can be a great opportunity for your invention. If you are interested in us helping you get your product in front of QVC please visit us at New Product Consulting to sign up for a FREE Consultation.