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Are You Ready to License?

This quiz will determine if you're ready to license!

 

 

Click the button below to start the quiz!

 

 

Start

Thoughts...

Licensing, like any partnership, is about give and take. Signing a brand license is a marketing and sales strategy for many manufacturers and retailers. In order to be ready to license, you have to have something unique to offer a partner that is commercially marketable — something that they otherwise either cannot or would have to invest a lot of resources to create on their own. You and your partner also need to have shared goals and beliefs...and trust.

 

Licensing requires a willingness to let go of some of the control in order to achieve your collective goals, so you need to be open and flexible to feedback. Are you ready?

 

Question 2 of 16

Do you own your trademark or have the resources needed to trademark your brand name across all product categories? 

 

A

Yes

B

No

Question 3 of 16

Do you have signature art and designs that are both distinctive and on trend?

 

A

Yes

B

No

Question 4 of 16

Can you describe your brand and your signature look?

 

A

Yes

B

No

Question 5 of 16

Do you have brand awareness that you can demonstrate?

 

A

Yes

B

No

Question 6 of 16

Would consumers be able to recognize your logo and/or your designs?

 

A

Yes

B

No

Question 7 of 16

Do you have a vehicle to drive consumers to purchase products such as a media platform (social or traditional), retail stores or a strong wholesale presence?

 

A

Yes

B

No

Question 8 of 16

Can you define your demographic? Do you really know your customer?

 

A

Yes

B

No

Question 9 of 16

Are you being approached by companies regarding collaborations and licenses?

 

A

Yes

B

No

Question 10 of 16

Do you have a history of successful licenses/collaborations? Can you quantify your sales?

 

A

Yes

B

No

Question 11 of 16

What is your core business? Is your business profitable, healthy and growing?

 

A

Yes

B

No

Question 12 of 16

Do you have resources staff to up to grow your business and market your brand?

 

A

Yes

B

No

Question 13 of 16

Do you have the bandwidth to support working with multiple partners at once?

 

A

Yes

B

No

Question 14 of 16

Do you have one central place where your art and design library is kept, like

Dropbox? Is it organized in a way that if a partner needed something for summer,

or for holiday, they can easily find it?

 

A

Yes

B

No

Question 15 of 16

Do you like delegating tasks, collaboration and teamwork?  

A

Yes

B

No

Question 16 of 16

Do you understand how licensing works? 

A

Yes

B

No

Confirm and Submit