Win The License by Acing The Prospective Licensee Application
Smart brands use well-vetted forms to help them choose the best licensee for their brand. They ask a ton of questions because they want to maximize success and mitigate risk. Don’t get caught flat-footed. The more you know about how they think and the questions they’ll ask the more likely you’ll be considered as a finalist.
The typical licensee application form tries to conduct due diligence from multiple perspectives: business, financial, legal and risk management. From the licensor’s perspective, the more comprehensive the form, the less likely it is that the licensee will have unforeseen issues going forward, and the greater the likelihood for success.
How to make your licensee applications stand out
A comprehensive, thoughtfully-written application that covers all of a brand’s concerns will vault you to the top of the line. However, that means you have to know what kind of questions brands will ask. Instead of waiting to receive the potential brand’s application form, why not get a head start with my state-of-the-art application form for licensees?
I developed it when I worked as a brand licensing executive at Coca-Cola and Newell Rubbermaid and then continually refined it through my consulting work with other Fortune 500 brands. It’s an 11-page document filled with the kinds of questions brands are likely to ask.