Get Ahead: 3 Reasons to Work With a Licensing Agent
When you’re a toy inventor or entrepreneur, you’re probably used to doing it all. You want to have a hand in every part of the invention and production process. However, there may be some times you need some help, and that’s OK. A great entrepreneur knows when to delegate tasks instead of taking on too much for themselves.
One type of person who can help you greatly in your endeavors is a licensing agent. What does such a person do? They get you the licensing deals you want by getting your product in front of the people who need to see it and help you negotiate the deals. Here are three important reasons why you should consider working with one!
1. Call in The Experts
Toy inventors wear many hats, but you can’t be an expert in every single area. To make a successful product you are going to need some help from those who have expertise in areas that you do not have as much experience. You may be a great salesperson but lack some serious industry connections. You might know how to crunch the numbers, but lack the experience to know what kind of deals to go after and how to negotiate. You may have a great product, but don’t know where to go from here. That’s where a licensing agent can help. They will take your product to the next level by connecting you with industry executives, and using their own experience to get you into the spotlight.
2. Get a Full Timer On Your Side
Many toy inventors have a lot going on. You may have a full-time job in addition to your entrepreneurial projects, or you may simply be working on multiple projects at the same time. Plus, many of you out there also have family duties and other life obligations. When Michael Goodman, founder, and head of MLGPC Licensing Agency, was on my podcast, Making It In the Toy Industry, we both agreed that, “part-time effort yields part time results.” That’s not meant to be a dig at those who have a lot going on, because we all do! It’s simply a reminder that to get to where you want to be, you might need help from the experts. When you work with a licensing agent, you get a full-timer on your side. Here is someone whose sole focus is to help your product succeed.
3. It’s Free Unless You Win
As an entrepreneur, there is no doubt that your budget is on your mind all the time. Luckily, there are many licensing agents who work solely on commission. That means they don’t get paid unless they get you a successful deal. Even just signing with a licensing agent can be a boost to your self-esteem, because they typically don’t sign with products they aren’t passionate about. It may take a little footwork to find the right licensing agent to work with your product, but once you do, you’ll have a loyal team member who has a vested interest in making a great deal for your product.
Want to know more about what it is like to work with a licensing agent?
Listen to Episode 32 of my podcast, Making In the Toy Industry.
Licensing a tabletop game doesn’t require years of experience or a perfectly polished prototype. What it really takes is a strong idea, a strategic approach, and the confidence to put yourself out there.
I’m sitting down with April Mitchell, motivational speaker, licensing expert, and founder of 4A’s Creations, LLC. With years of product development and coaching at inventRight, April has helped countless creators bring their ideas to life. This past year, she licensed 6 tabletop games, and today, she’s sharing how.
You’ll hear how a name like “Pizza Pie” sparked a licensing deal, why having a pipeline of ideas helps you move faster, and how in-person pitches can make all the difference. We’ll also cover how to handle playtesting feedback, collaborate effectively, and keep momentum going with the right systems.
If you’ve got a tabletop game idea, this episode will help you take it from concept to contract.
👉 Hit play and take the first step into making your tabletop game a reality.