Licensing has the potential to help manufacturers enhance their brand awareness and increase sales, but navigating the process can be complicated and challenging for many small and mid-sized manufacturers.
Open New Doors through Licensing
A great licensing relationship can be financially advantageous to all parties involved. The licensors increase revenues from royalties and can enter new markets. While all contracts between licensors and licensees are unique and specific to the arrangement, manufacturing licensees have the potential to recognize numerous benefits:
- Industry credibility by leveraging the name of partners
- Increased sales through connecting with new target audiences
- Diversifying distribution channels
- Improved marketing power
- Innovations that come from new collaborations
- Cultivating new relationships through networking
Especially if you’re a manufacturer of apparel, accessories, books, food and beverages, or paper goods, licensing may be a good fit for your organization. NJMEP can help you forge relationships with the right contacts and broker an advantageous deal to increase your sales.