Is this the right time to launch a Beauty product (credit crunch)?

Did ask for comments regarding my products and future venture of a docking station for hair straighteners with timer unit, which will ensure the straighteners will switch off if left on.
Let me put it this way
FACT
GHD turned over 118 million pounds last year.
2 billion pounds has been paid out on insurance claims/damage caused by straighteners. (Halifax PLC)
More children are being burned by straighteners than fire works.
Children as young as 16 months required skin grafts for burns caused by straighteners.
Question again. Do you think my products solve this problem? What would the best route to market be?
Is this the right time to launch this product (credit crunch)?
Thank you
 
Asked by Gary Burns, August 2008   -  Contact this person

9 Answers

  1. Hi Gary,

    Potentially it sounds like your product may help solve this problem. However, how many of the people who don't remember to switch off their straighteners will remember to put them in the docking station? And how many of those injuries to children were caused after straighteners had been switched off and were in the process of cooling down? Or simply because the user hadn't put them down in a safe place?

    What has your own market research indicated?

    Pricing will also be another issue - how much are potential customers prepared to pay for peace of mind?

    And what will stop the straightener manufacturers from simply giving 'free' docking stations away with their straighteners?

    Just a few initial thoughts!

    Lee
  2. Thanks Lee all very good points. We hope to market our docking station for under 15 quid. The process of using the straighteners will encourage the user to place the straighteners back in the docking station because this resets the timer again to ten minutes. If they dont use it the straighteners will switch off.
    Research has shown that straighteners can take up to 40 minutes to cool down properly after use (able to touch). We are trying to encourage users to style off the floor back on to the dresser. The units will be designed around many themes eg Valentines/heart etc. So hopefully pleasing to the eye.
    If the straightener manufacturers decided to give free docking stations away this would be great, as we have highlighted a problem that they are trying to rectify. Even better as I own the patent and they would need to licence from our company.
    I think our market maybe towards the parents or partners who constantly find these common household items switched on within the bedroom and have to switch them off.
    Thanks for your very constructive points.
  3. Hi Gary,

    It's probably worth bearing in mind that many manufacturers are now making hair straighteners with built-in timers for auto shut off, and some are providing docking stations / holders (minus the timer element). Also, when I was in Focus DIY over the weekend I noticed they were selling a masterplug timer, "ideal for hair straighteners".

    Of course, that's not to say there's no position in the market for your product! Obviously pitching the benefits will be vital to your marketing.

    Lee
  4. Hi Lee, yes areas we have researched. GHDs with sleep mode. If sitting on the floor or dresser the arms of the straighteners are open. It has been researched at Birmingham University that most units take up to 40 minutes to cool down(able to touch). This is when users become complacent and children are getting burned

    Current provision for holders/KODO/BABYLISS are plastic with suckers on the bottom. Through 18 months of research I have still to meet someone who has this unit. They are just not pleasing to the eye and not very practical.

    Our design company asked one of their wifes to show how she straightens her hair. He found she rested her straighteners on a shoe box within the Wardrope, full of clothes.
    Thank you again for your comments
  5. If you don't mind me saying..... it's pointless asking if your idea is any good. Firstly, most people in this world will try to knock you off your peg. Also our British culture loves to moan and be scared (Credit Crunch, Pig Flu, Immigration, Terrorism, etc, etc,) What is important is that YOU believe in your idea. From where I stand it sounds like you have done your homework. Visit my site: cleoscat.co.uk and click on the business plan link. Download the PDF. Send me an email and I will send the rest completely free of charge. While filling this in you will be able to look at your idea from an objective point of view. Most of the time my clients are surprised with how good their ideas are. Business Link will direct you to your nearest Enterprise Agency who will help you fill it in for free, if you so desire. Give me a shout on 0844 884 9550 for your business promotion needs. Web sites, logos, business cards etc. Good luck
  6. Do you know that GHD actually already have timers that turn the straighteners down to heat of 5degrees if they have not been used for 15minutes. This timer is on all of its fourth generation straighteners. Now that GHD have done this others are starting to incorropate the feature into their straigtening irons. You can also buy heat proof mats to put them on whilst straightening your hair, 16-24olds aren't going to pay extra for a docking station when they have already spent near £100 for a good pair of straightening irons and arent these people your target market as they have 4 in 10 of them own a pair of straighteners. Older women tend to visit the hairdressers.
  7. My product is now on the table of BABYLISS. I also was accepted onto the NESTA Starter For 6 programme receiving fund, John Logie Baird first round and now contacted for the 3rd time by Dragons Den.

    Thanks

  8. Gary,


    That is great news! Do keep us up to date with how you get on.


    Phin

  9. Good to hear from you again Gary - best wishes on getting your product to market!


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