If you’re like most nonprofits, you face a big “business” challenge – funding. You rely on fundraising and the result is you spend a lot of time trying to find donors instead of fulfilling your social mission. But there is a better strategy to rely less on donations by creating income-generating activities. That strategy is licensing.
Licensing builds a bigger money pie by tapping into partners who already have the production, distribution and marketing resources in place. They are established in the market and can add your IP to their revenue pie.
New therapeutic drug treatments are rapidly entering the market. They’re designed to treat all sorts of diseases from headaches to diabetes. It’s a multi-billion dollar industry that’s highly competitive. The challenge is how do you stand out not only from the competition but also to the consumer.
When it comes to seafood in the US, Boston is the king, known for its delicious local seafood cuisine like New England (Boston) clam chowder, lobster rolls and raw oysters. Not only is it one of the oldest cities in America, it’s also home to some of the best and oldest seafood restaurants in America. It’s also a great place to find a market ready and customer tested brand for licensing.
What happens if your company is growing so fast it can’t keep up with demand? For many companies, they wind up going out of business as they lose frustrated customers because they’re unable to deliver products. But for smart companies they turn to licensing as a strategy to quickly scale up their business.