Bake off Contract19-09-2016
One of the biggest domestic news stories this week has been the announcement that the Great British Bake Off (GBBO) (owned by Love Productions) is moving for big money from the BBC to Channel 4.
Love Productions is a perfect case study of how a simple idea, combined with the knack for spotting a gap in the market, can turn a fledgling business into a hugely successful company within a very short space of time.
The key inspiration behind the show was the company’s co-founders Richard McKerrow and Anna Beattie attending a local baking competition at their village hall. This gave them an idea which they were then able to turn into a unique, marketable product. On the back of the show’s success, Love Productions was able to enter into a number of lucrative licence agreements for ingredients used in the show under the GBBO brand name with companies such as Lakeland and Sainsburys, further boosting its income.
As the popularity of GBBO has increased, the perceived value of Love Productions’ intellectual property has also increased to the stage that Channel 4 offered them a whopping £75m over three years, compared to the £60m over four years mooted by the BBC.
The beauty of Love Productions’ success is that it is theoretically possible for any business to do something similar – and James Legal can help:
If you have a simple-but-brilliant idea, we can help you to protect it via trademark, design rights, patents or copyright.
Our Business Improvement team can also help you refine your brand and target the areas of the market you want to reach – to give your concept more chance of take-off.
Once you’ve got people interested, our Commercial team, which has great experience in brand licencing, can help you maximise the potential of your business.
So if you want to be the next great British success story, give us a call and we’ll help you fulfil your potential.