I am working as a freelance designer and a client wants me to design an accessory for computer products.
Its is not a very complicated product, so the design should not be too complicated.
The thing is that the client only has a budget of about 1000 USD for the complete project (design prototype and production).
And that’s probably not enough, so he offered a equity share in the project of 50-50 %.
- there are already at least two similar products on the market.
- one of them claims to have a patent pending.
- he is in Europe and I am in China.
- the existing product is way to expensive.
-there are ways to make it much cheaper.
- future development will probably increase the demand of the product.
- how do I know he doesn’t run away with the design…
I don’t want to invest money in this project at the moment. I was thinking of the following:
- the 1000 USD for prototyping and maybe a mold ( depends on production method)
- the initial idea
- the design
- Production ( I am in China and I have the proper connections)
In case we need more money to start production, we need to find an investor.
This way I wont get paid for my services and (I hope to) get enough from the sales of the product.
This is quite tricky, if the product is not selling it will probably cost me money. And, i think my input is higher than his input.
Is there anybody who has experienced a similar situation?
I could use some good advice.