Business Tips: Managing The Business – Risks and Rewards of Licensed Merchandise

Merchandise licensing is usually profitable for both the licensor and the licensee. Some licenses, such as Barbie or Disney classics have a perennial appeal, and others are much more difficult to predict, such as licenses for new product or, related to events of a short duration such as a sporting event or a film release.

From a manufacturing or retailers perspective, buying the licensing rights to a popular character can significantly increase the sales of a basic product such as a T shirt, colouring book or pencil case. It will differentiate your product in the market place and increase its appeal, as long as you have chosen the correct license.

You can probably make a slightly higher margin, but need to cost carefully to ensure your royalties are taken into account, and maybe a contingency for royalty minimums and the higher risk of markdowns is covered.

Licensed product may interest Buyers who have not previously dealt with you, and once you have an account open with them because they want the license, you may be able to sell other unlicensed product to them.

What do you need to provide

Once you know the product and the license you want to use, the licensor will want to know about the products sales history in its unlicensed version, or perhaps with a different licence .They will want a detailed business plan for the promotion, marketing and sale of licensed merchandise. They will want to know target clients and estimated sales. Their interest will be in granting the license to whoever can produce the most revenue for them.

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AS A BOSS! WHO IS RESPONSIBLE FOR CARRYING YOUR BAGS FROM YOUR CAR TO YOUR DESK?

My father who was in a senior position in a  Power utility  department of  State government had so many assistants and car drivers at hand. He was the rarest of the officers who used to carry his bags and let all junior officers as well as Drivers to sit before him, where as many others would make all others keep standing ! He taught us that all human beings are same. By chance you may be socially  a shade better than them. But, we shall never look down upon someone.

As we grew, we have seen many cases where people  tend to show off their authority!

There are cases where popular actors leave the airport alone and let their secretaries/managers collect the luggage and get it cleared through Customs. What if they were carrying some excess jewelry or some taxable items ? The staff is supposed to get it cleared !!  Last year Customs department asked a reputed actor to return and claim the luggage !

In 1980 and 1990s, it was very prevalent with bureaucrats and owners of companies getting off the car and just walk in. Some one will carry the bag/files  and /or other stuff.  

I have seen a typical mentality of Bosses not carrying bags themselves ..particularly in India. If  you are rich or managed to become a Boss ( even in a department), is it below your prestige to carry your bags? Don’t you carry your bags when you travel abroad?
Continue reading AS A BOSS! WHO IS RESPONSIBLE FOR CARRYING YOUR BAGS FROM YOUR CAR TO YOUR DESK?