Episode 92 – License Your Product

Licensing products allows other retailers and businesses to market them or alter them in a way to increase their own sales. One of the most lucrative licensing deals was when McDonald’s licensed Monopoly and borrowed elements of the game to create an instant-win promotion. If you want to build name recognition or expand your market share, there are fewer better branding options than allowing other businesses to get your products in front of people for you. 

One of our members owns a carpet cleaning business. He has created his own formula for small area cleanings. He has licensed his product and has placed it in a few flooring retail stores. It’s working great for him!

That’s this week’s tip. Happy Networking!