PRICING QUESTION: how much should I ask for the RIGHTS for a unique product I developed

8 replies
A few years ago I created a unique product in the pets vertical. The product is a digital course about raising bearded dragons and combines 2 ebooks, 7 videos and 5 bonuses. The videos are high quality and give a unique twist - unlike similar courses which describe beardie behaviour, teach how to feed, discuss breeding etc, my course always points from the ebooks to the relevant videos so you can actually see how thinks look (videos describe everything too, the ebooks just provide more depth).


Really proud of this course. It took well over 1500 hours to create, is unique and with targeted traffic will sell well. However, my main (offline) business rocketed and so this product got pushed aside - I never really promoted it, it's dormant without traffic and sales and I forgot about it.

I NOW RECEIVED AN OFFER from someone in the field to purchase all rights for the course from me. UNSURE HOW MUCH TO ASK for it. For the right price I'll sell, but else - now that reminded I'll probably start pushing it myself in a few months.

WOULD APPRECIATE YOUR HELP on how much I should ask. If there's the reasoning behind the number or any examples on how much similar products were sold for - would appreciate hearing it.

Any tips on where I can find prices that the rights for similar products received, that would be helpful too.

Thanks
#developed #pricing #product #question #rights #unique
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  • Profile picture of the author DABK
    How much money would you make if you promoted it well? How much would that cost you?

    How much is an hour worth to you?

    How much is the time spent acquiring the knowledge worth to you?

    Are you selling the videos and pdfs only or some other, marketing-related, item?

    What does your buyer do? (Why do they want your product? How much will your product help them?)

    Originally Posted by Brad Mc Bard View Post

    A few years ago I created a unique product in the pets vertical. The product is a digital course about raising bearded dragons and combines 2 ebooks, 7 videos and 5 bonuses. The videos are high quality and give a unique twist - unlike similar courses which describe beardie behaviour, teach how to feed, discuss breeding etc, my course always points from the ebooks to the relevant videos so you can actually see how thinks look (videos describe everything too, the ebooks just provide more depth).


    Really proud of this course. It took well over 1500 hours to create, is unique and with targeted traffic will sell well. However, my main (offline) business rocketed and so this product got pushed aside - I never really promoted it, it's dormant without traffic and sales and I forgot about it.

    I NOW RECEIVED AN OFFER from someone in the field to purchase all rights for the course from me. UNSURE HOW MUCH TO ASK for it. For the right price I'll sell, but else - now that reminded I'll probably start pushing it myself in a few months.

    WOULD APPRECIATE YOUR HELP on how much I should ask. If there's the reasoning behind the number or any examples on how much similar products were sold for - would appreciate hearing it.

    Any tips on where I can find prices that the rights for similar products received, that would be helpful too.

    Thanks
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  • Profile picture of the author deu12000
    1500+ hours is an insanely long time for a pet course. I don't think you'll ever break even on the time spent to make the course no matter how you market it or if you sell off the rights.. I'm also not a bearded dragon expert so what do I know?


    1500 x $20 an hour = $30K
    1500 x $50 an hour = $75K


    Does anyone even have a list of bearded dragon owners to make $30K off of a course?
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  • Profile picture of the author Claude Whitacre
    Originally Posted by Brad Mc Bard View Post

    A few years ago I created a unique product in the pets vertical. The product is a digital course about raising bearded dragons and combines 2 ebooks, 7 videos and 5 bonuses. The videos are high quality and give a unique twist - unlike similar courses which describe beardie behaviour, teach how to feed, discuss breeding etc, my course always points from the ebooks to the relevant videos so you can actually see how thinks look (videos describe everything too, the ebooks just provide more depth).


    Really proud of this course. It took well over 1500 hours to create, is unique and with targeted traffic will sell well. However, my main (offline) business rocketed and so this product got pushed aside - I never really promoted it, it's dormant without traffic and sales and I forgot about it.

    I NOW RECEIVED AN OFFER from someone in the field to purchase all rights for the course from me. UNSURE HOW MUCH TO ASK for it. For the right price I'll sell, but else - now that reminded I'll probably start pushing it myself in a few months.

    WOULD APPRECIATE YOUR HELP on how much I should ask. If there's the reasoning behind the number or any examples on how much similar products were sold for - would appreciate hearing it.

    Any tips on where I can find prices that the rights for similar products received, that would be helpful too.

    Thanks
    I can't believe this.

    I used to raise bearded dragons.

    Here's the bad news. It isn't worth hundreds of thousands of dollars. The number of bearded dragon owners that would make it to a list are few. It may be sold to Bearded dragon breeders, so they can sell it to their customers.

    Me? I would ask $5,000 for limited rights. Meaning they can sell your course as much as they want, keep all the money, but only marketing it to their customers...or sell it on their website. And...they can't sell the rights to anyone else.

    Keep the right to sell it yourself. Why? If you decide to do something with it later, you can...and their sales won't affect your sales.

    Do you have a completed sales page with copy all written out, a complete presentation that has been proven to sell this course? If you do, it's the sales copy...the fact that it has generated sales that's valuable. It's the marketing materials that create most of the value.

    But if all your selling is the right to a course, that hasn't been marketed yet? Courses like that? DVDs? E-Books? You can buy rights to them for a few hundred dollars, just not exclusive rights. And these rights include the sales materials too.

    I'd go for $5,000 for exclusive rights (exclusive meaning you won't sell them to anyone else, but you can still sell your course yourself).

    And...the fact that you say it took you a full 1,500 hours to create...has nothing to do with it's value.

    Added later; The good news, I guess, is that you may be the only person with a course for Bearded dragon care...that is selling the rights. So that's helpful.

    But I found a series of PDFs on dog breeding.

    Here's a link. These are non-exclusive rights. And they include the sales materials.

    http://swift-publishing.com/DogTrain...ontentPackage/


    Added later; Dan Kennedy bought the rights to all the Maxwell Maltz materials when Maltz died. Maltz was the author of the perennial best selling book Psycho Cybernetics. Kennedy got several books by Maltz (to use anyway he saw fit).

    Kennedy got several complete seminars, including slides, transcripts, and all the marketing materials. He also got a few hundred videos that Maltz created over the years...plus several courses Maltz taught.

    A lifetime of material. He paid $15,000 for it all. Exclusive rights to everything. Just a thought.
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    • Profile picture of the author Brad Mc Bard
      Thanks for the extremely helpful and detailed response.
      I certainly went overboard creating it - I wanted to make the best course around but didn't consider the time spent on it as an expense. I enjoyed it but otherwise huge mistake. Should have just made it an eBook good enough so that customers are happy they purchased, started selling, then making good-enough videos and selling them to both new and existing customers.
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      • Profile picture of the author Claude Whitacre
        Originally Posted by Brad Mc Bard View Post

        Thanks for the extremely helpful and detailed response.
        I certainly went overboard creating it - I wanted to make the best course around but didn't consider the time spent on it as an expense. I enjoyed it but otherwise huge mistake. Should have just made it an eBook good enough so that customers are happy they purchased, started selling, then making good-enough videos and selling them to both new and existing customers.

        I get that completely. I've been working on a course on Selling for a full year now. I can always see ways to make it better, make it more complete, more useful.

        To me, part of the reward is the money I'll make when selling it. But much of the reward is putting it together, making it better.


        But a course on Bearded Dragons? I bet you could have made a course equally as good in far less time. The videos will certainly add value.

        Please let us know how it worked out, and what you decide to do.
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  • Profile picture of the author Medon
    I dont think you should use the manhour cost approach. Look at its present value and comute the future value. It will give you a price that is not exploitative.
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