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Plant Watering Device easy operating watering tray for plant owners There are currently no reviews for this Innovation.
| Plant Watering Device
easy operating watering tray for plant owners |
|
A simple, from the bottom up plant watering device, designed to maximize the health and growth of potted plants. |
 Annual Sales Forecast for USA * | Innovation Status |
Idea |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
Development
Status |
Proprietary
Protection Status |
Concept
Score |
| Ultra Low |
$0 |
$25,000 |
$220,000 |
3 of 5
Final Design
|
5 of 5
Granted Patent Claims
|
17 29 is
Average
|
| Low Support |
$310,000 |
$970,000 |
$2.3 M |
| Medium Support |
$2.7 M |
$7.2 M |
$14.9 M |
| High Support |
$7.4 M |
$19.6 M |
$39.8 M |
Remaining Time & Cost to First Sale |
| Ultra High |
$13.7 M |
$35.6 M |
$75.6 M |
6 mos-1 yr
|
$10k-$100k
|
Plant Watering Device
- easy operating watering tray for plant owners
Final Decision Maker: Gardeners, Plant Owners
A plant watering device which includes a planter tray having an upper surface for supporting potted plants. The tray's upper surface is located above a bottom wall of a water container. The water container has an open top, closed sidewalls, and a closed bottom wall which define a resevoir to recieve water or water mixed with plant food. The planter tray can be manually moved from the upper drainage position to the lower watering position and vise-versa. This enables the plant to remain surrounded with beneficial evaporating water, yet prevents root rot often associated with poor drainage or over watering a plant. Leading gardeners agree on the best method for watering plants being from the bottom. This method of plant watering allows better retention of soil based nutrients and minerals associated with increased plant growth. This device can be made in a variety of shapes (round, square, rectangular, hexagonal) for asthetic properties or size requirements. It is an object of the innvention to provide a simple and inexpensive device which has only two component parts. It would be manufactured using plastics and has potential to utilize recycled materials for 'green' marketing plans. This device is intended to be sold to the consumer from a retail environment of like items such as gardening centers or lawn and garden departments of retail chain stores.
| $12.95 for 1 plant watering tray | Seeking: Purchase, Investment, Distribution |
|
* Consumption sales forecast. Does not include "Random" events or "Inventory Fill". Forecast is for Year 1 for Large or Year 2 for Small Companies.
Forecast should be read as ..."With Low marketing support there is an 80% odds of achieving sales of at least... |
| Listing #: USA.76.041309.013 |
Page 1 of 5 |
Date Posted: 2009-04-15 |
|
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
Report Assumptions and Inventor(s) Commentary
|
|
| Inventor(s) Assumptions |
"Most Likely"
Estimate |
Confidence |
Inventor(s) Commentary
Data Source or Basis for Assumptions |
| # of Possible Final Decision Makers |
50,000,000 |
30% |
This is an estimate of households having potted plants (meaning potentialy in need of our product) in the USA.
|
| Revenue per First Purchase |
$25.90 |
40% |
Estimate made based on the fact that most households with potted plants have more than 1 plant. |
| % that will Repeat |
20% |
40% |
Upon using our plant watering device and proving it's worth in increased plant health, additional units would be necessary to accomodate other plants. |
| Number of Annual Repeats |
2 |
30% |
The possibility of this product becoming a gifted item based on price and packaging could lend itself to additional sales. |
| Revenue per Repeat Purchase |
$25.90 |
40% |
Basing our estimate in the likelihood that someone would enjoy their first purchase and need two additional units to accomodate remaining house plants. |
| Reseller (Trade) Margin |
40% |
40% |
Basis was used for a Wal-Mart or K-Mart type offering out of the gate. |
| Producer Profit (EBITD) |
10% |
40% |
We used estimates of the industry segments that were suggested for our reference. |
| |
| Innovation Status |
|
Development
Status |
3 of 5
Final Design
|
Prototypes were developed and proven successful. Manufacturing methods are chosen. Tooling is not yet purchased or developed. |
| Cost to First Sale (remaining) |
$10k-$100k |
60% |
Factual estimate based on receipt of tooling and production costs. Packaging estimates have also been requsted. |
| Time to First Sale (remaining) |
6 mos-1 yr |
60% |
The tooling and production estimates are based on today's work load. |
| Confidence in Concept Claims made in description |
90% |
Product has been field tested and recieved promising feedback from one of the largest plant growers in the country. |
Proprietary
Protection Status |
5 of 5
Granted Patent Claims
|
Patent is granted. |
| Concept Score & Diagnostics |
|
|
| Concept Diagnostics |
Red |
Yellow |
Green |
| Percentile Group |
Bottom 40% |
Middle 40% |
Top 20% |
| Overt Benefit |
 |
|
|
| Reason to Believe |
|
|
|
| Dramatic Difference |
|
|
|
|
| Listing #: USA.76.041309.013 |
Page 2 of 5 |
Date Posted: 2009-04-15 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
Inventor Commentary & Alternative Development Scenarios
|
|
| Inventor(s) Sales Goals |
| Minimum Goal |
$0.8 M |
Current GOAL |
$1 M |
The rendering shows a potted plant resting on the top tray with finger holes present for moving the top tray into the water resevoir and then back again, allowing proper drainage. |
Inventor(s) Commentary:
Our company, Bassler / Williamsport Pattern Works has been in the new product design and development business for over 25 years, with industrial pattern making as our mainstay. The Plant Watering Device was developed to address a need for ease of watering and maintaining healthy potted plants. It accomplishes this while featuring good looks, simple design, and verifiable plant watering methods. |
|
CURRENT SALES FORECAST |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$25,000 |
$220,000 |
| Low Support |
$310,000 |
$970,000 |
$2.3 M |
| Medium Support |
$2.7 M |
$7.2 M |
$14.9 M |
| High Support |
$7.4 M |
$19.6 M |
$39.8 M |
| Ultra High |
$13.7 M |
$35.6 M |
$75.6 M |
If MARKETING CONCEPT Improved (Increase Concept Score by +20 Points) |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$1 |
$67,000 |
$510,000 |
| Low Support |
$870,000 |
$2.3 M |
$5.1 M |
| Medium Support |
$8.0 M |
$17.2 M |
$31.0 M |
| High Support |
$22.0 M |
$46.7 M |
$83.1 M |
| Ultra High |
$40.2 M |
$87.1 M |
$156.4 M |
If PRODUCT/SERVICE Improved (Increase Repeat Rate & Number of Repeats by 30% and Revenue Per Purchase 20%) |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$31,000 |
$280,000 |
| Low Support |
$390,000 |
$1.2 M |
$3.0 M |
| Medium Support |
$3.4 M |
$9.1 M |
$19.1 M |
| High Support |
$9.4 M |
$24.8 M |
$51.1 M |
| Ultra High |
$17.1 M |
$45.6 M |
$96.8 M |
If MARKETING CONCEPT and PRODUCT/SERVICE Improved (Increase Concept +20 Points, Repeat Rate & Number of repeats by 30% and Revenue per purchase 20%) |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$1 |
$86,000 |
$630,000 |
| Low Support |
$1.1 M |
$3.0 M |
$6.5 M |
| Medium Support |
$10.1 M |
$21.7 M |
$39.6 M |
| High Support |
$27.6 M |
$58.8 M |
$108.7 M |
| Ultra High |
$51.9 M |
$111.0 M |
$199.6 M |
|
| Listing #: USA.76.041309.013 |
Page 3 of 5 |
Date Posted: 2009-04-15 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
Additional Details
|
|
| Fair Market Royalty (%) |
| |
Conservative - 80% Odds
Royalty Percentage |
Most Likely - 50% Odds
Royalty Percentage |
Aggressive - 20% Odds
Royalty Percentage |
| At CURRENT State & Status |
0.8% |
1.6% |
2.6% |
Sales & Marketing
Support Level |
Annual Inventor Royalty Revenue |
3 Year Value
to Inventor
If 50% Odds |
| 80% Odds |
50% Odds |
20% Odds |
| Ultra Low Support |
$210 |
$650 |
$1,500 |
$2,000 |
| Low Support |
$3,500 |
$9,600 |
$20,000 |
$29,000 |
| Medium Support |
$25,000 |
$66,000 |
$130,000 |
$200,000 |
| High Support |
$69,000 |
$180,000 |
$350,000 |
$530,000 |
| Ultra High Support |
$130,000 |
$330,000 |
$660,000 |
$980,000 |
| Sales & Marketing Support Level Assumptions |
| Sales & Marketing Support Level Assumptions |
Sample Numbers |
% Aware x
% Distribution
(Aware & Able) |
Inventor
Confidence |
| % Distribution |
% Awareness |
| Ultra Low Support (Word of Mouth) |
5% |
3% |
0.2% |
% |
| Low Support (Small Company) |
20% |
10% |
2% |
N/A |
| Medium Support (Medium Sized Company) |
50% |
25% |
13% |
N/A |
| High Support (Large Company) |
75% |
45% |
34% |
N/A |
| Ultra High Support (Mega or Niche) |
90% |
70% |
63% |
N/A |
|
Graph of EQUIVALENT (Awareness x Distribution) Combinations
 |
NAICS Industry Codes
For This Invention |
| 45399 - All Other Miscellaneous Store Retailers |
| 45322 - Gift, Novelty, and Souvenir Stores |
| 45311 - Florists |
| 44422 - Nursery, Garden Center, and Farm Supply Stores |
| |
|
| Patent Numbers that apply to this Product/Service |
| 6,182,394 B1 |
| |
| |
| |
| |
|
| Inventor(s) PEDIGREE |
| Years EXPERIENCE in related industry |
25 |
| GRANTED Patents |
2 |
| Licensing Deals SIGNED |
0 |
| Innovations that have SHIPPED |
1 |
|
For USA Patents: Utility Patent = 7 digit number, Design Patent starts with D, Planet Patent starts with PP. Provisional Application "61/xxx,xxx", Non provisional application "12/xxx,xxx", Design patent application "29/xxx,xxx"
|
|
CAUTION: This Merwyn Business Simulation Research Report includes no warranty or guarantee. Results and opinions should be considered rough and directional in nature. This is because the report is based upon inventor-supplied data and simplified modeling methods. If you are looking to invest, distribute, purchase or become involved with this innovation, in any way, we strongly urge you to validate the inventor data and sales forecasts BEFORE committing yourself or your resources. Merwyn Research, Inc. shall not be responsible for any liability or damages arising out of the failure to perform such investigation and validation. Changes in the concept description, product, pricing, or input assumptions will almost certainly change results.
|
| Listing #: USA.76.041309.013 |
Page 4 of 5 |
Date Posted: 2009-04-15 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
Additional Forecasts for Other Countries
|
|
 Annual Sales - Probability Forecast - Canada |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$4,000 |
$34,000 |
| Low Support |
$50,000 |
$150,000 |
$370,000 |
| Medium Support |
$430,000 |
$1.1 M |
$2.4 M |
| High Support |
$1.2 M |
$3.1 M |
$6.3 M |
| Ultra High |
$2.2 M |
$5.6 M |
$12.0 M |
 Annual Sales - Probability Forecast - United Kingdom |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$7,000 |
$61,000 |
| Low Support |
$88,000 |
$270,000 |
$660,000 |
| Medium Support |
$770,000 |
$2.0 M |
$4.2 M |
| High Support |
$2.1 M |
$5.5 M |
$11.2 M |
| Ultra High |
$3.8 M |
$10.0 M |
$21.3 M |
Forecast are calculated based on population, (PPP) purchasing power parity, International Trade, Urbanization and the Human Growth Index.
Forecast can be skewed for some industries, so for best results, adjusting the number of final decision makers for every country is recommended.
| Listing #: USA.76.041309.013 |
Page 5 of 5 |
Date Posted: 2009-04-15 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
