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InBrella - the Inverting Umbrella INNOVATIVE INVERTING UMBRELLA for PEOPLE WHO WANT TO STAY DRY WITH AN UMBRELLA There are currently no reviews for this Innovation.
| InBrella - the Inverting Umbrella
INNOVATIVE INVERTING UMBRELLA for PEOPLE WHO WANT TO STAY DRY WITH AN UMBRELLA |
|
In-Brella operates by reversing and inverting the wet umbrella canopy into a dry tube for closure and carrying thus keeping the user dry after use. |
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 |
$4 |
$520,000 |
$3.3 M |
1 of 5
In Development
|
2 of 5
Patent Pending
|
37 29 is Average
|
| Low Support |
$7.5 M |
$16.0 M |
$28.9 M |
| Medium Support |
$67.7 M |
$109.6 M |
$166.5 M |
| High Support |
$188.5 M |
$300.9 M |
$439.3 M |
Remaining Time & Cost to First Sale |
| Ultra High |
$359.4 M |
$569.7 M |
$823.1 M |
1-2 yrs
|
$100k-$1M
|
InBrella - the Inverting Umbrella
- INNOVATIVE INVERTING UMBRELLA for PEOPLE WHO WANT TO STAY DRY WITH AN UMBRELLA
Final Decision Maker: Consumers who use umbrellas
InBrella solves the frustrating wet canopy problem so many of us face. InBrella operates by reversing itself for closure and inverting into a dry tube for carrying. On rainy days, when trying to get into a car with an umbrella, we struggle trying to stay dry while closing the canopy and avoiding scratching the roof of the car. We end up wet from leaning outside of the car to close the canopy, bringing the wet umbrella into the car, across our lap ultimately tossing the umbrella either on the seat or car floor. In theFall of 2005, I soared past 10,000 other hopeful inventors to be picked as one of the Top 12 Inventors on ABC's Reality Show, American Inventor. From my successful participation on American Inventor, I was able to sit before a focus group as they evaluated my mock-up in its very beginning stages. With that knowledge, I was better able to refine and redesign InBrella's functionality ultimately leading to a hands-on testing of my prototype under a special-effects rain bar. The consumers who tested it agreed that getting into a car and using InBrella was a dryer experience by comparison to using a standard umbrella.
| $30.00 for an InBrella | Seeking: Research, Purchase, Investment, Distribution, Manufacturing/R&D |
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* 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.76.062809.001 |
Page 1 of 5 |
Date Posted: 2009-07-23 |
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| ©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 |
224,000,000 |
50% |
Assuming that ages 18-85 year old people use umbrellas, stats cam from reference data per US Dept of Census.
|
| Revenue per First Purchase |
$30.00 |
30% |
This data comes from assumption because I am still sorting out cost of manufacturing. |
| % that will Repeat |
30% |
30% |
Assuming that people will purchase additional InBrellas as gifts or to have multiple InBrellas for car and home. |
| Number of Annual Repeats |
2 |
40% |
Assuming that consumers purchase InBrellas as gifts for special occasions. |
| Revenue per Repeat Purchase |
$30.00 |
50% |
Assuming the consumer purchases one InBrella at a time. |
| Reseller (Trade) Margin |
40% |
40% |
Based on Industry Standards. |
| Producer Profit (EBITD) |
11% |
40% |
This is based on Industry Standards. |
| |
| Innovation Status |
|
Development Status |
1 of 5
In Development
|
I have a prototype that has been tested by consumers under a rain bar. My current prototype is not production-ready. |
| Cost to First Sale (remaining) |
$100k-$1M |
60% |
Based upon production-ready prototyping, testing and manufacturing. |
| Time to First Sale (remaining) |
1-2 yrs |
60% |
Assuming my cost analysis is correct, this should not take more than 1-2 years once the first run has been completed. |
| Confidence in Concept Claims made in description |
60% |
InBrella has been tested by real people using real elements. |
Proprietary Protection Status |
2 of 5
Patent Pending
|
I have a provisional patent and a patent application filed for the full patent. |
| 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.76.062809.001 |
Page 2 of 5 |
Date Posted: 2009-07-23 |
| ©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 |
$100,000 |
Current GOAL |
$0.5 M |
InBrella - the InVerting umbrella starting a reverse-i-lution. |
Inventor(s) Commentary: InBrella is the next obvious evolution of the umbrella. There are companies that export up to 4.3 million umbrellas a month and I receive emails every month from people inquiring about InBrella. As global warming continues, rain is a guarantee and where there is rain, there are umbrellas! I had the fortitude to bring my product to National Television and continue striving forward to I see that InBrella makes it to store shelves. I want to start a reverse-i-lution. |
|
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 |
$4 |
$520,000 |
$3.3 M |
| Low Support |
$7.5 M |
$16.0 M |
$28.9 M |
| Medium Support |
$67.7 M |
$109.6 M |
$166.5 M |
| High Support |
$188.5 M |
$300.9 M |
$439.3 M |
| Ultra High |
$359.4 M |
$569.7 M |
$823.1 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 |
$7 |
$800,000 |
$5.1 M |
| Low Support |
$11.8 M |
$25.0 M |
$44.6 M |
| Medium Support |
$108.6 M |
$171.6 M |
$254.7 M |
| High Support |
$302.5 M |
$468.8 M |
$669.9 M |
| Ultra High |
$577.8 M |
$885.2 M |
$1.3 B |
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 |
$6 |
$710,000 |
$4.4 M |
| Low Support |
$10.1 M |
$21.6 M |
$39.7 M |
| Medium Support |
$89.7 M |
$147.4 M |
$231.3 M |
| High Support |
$252.4 M |
$406.5 M |
$610.7 M |
| Ultra High |
$476.1 M |
$757.1 M |
$1.1 B |
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 |
$9 |
$1.1 M |
$7.0 M |
| Low Support |
$15.9 M |
$32.9 M |
$61.1 M |
| Medium Support |
$144.0 M |
$229.6 M |
$354.4 M |
| High Support |
$405.6 M |
$629.5 M |
$932.7 M |
| Ultra High |
$759.8 M |
$1.2 B |
$1.8 B |
|
| Listing #: USA.76.062809.001 |
Page 3 of 5 |
Date Posted: 2009-07-23 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
Additional Details
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|
| Fair Market Royalty (%) |
| |
Conservative - 80% Odds Royalty Percentage |
Most Likely - 50% Odds Royalty Percentage |
Aggressive - 20% Odds Royalty Percentage |
| At CURRENT State & Status |
1.1% |
1.4% |
1.7% |
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 |
$3,600 |
$9,400 |
$19,000 |
$28,000 |
| Low Support |
$58,000 |
$120,000 |
$210,000 |
$370,000 |
| Medium Support |
$440,000 |
$810,000 |
$1.3 M |
$2.4 M |
| High Support |
$1.3 M |
$2.2 M |
$3.5 M |
$6.7 M |
| Ultra High Support |
$2.4 M |
$4.2 M |
$6.6 M |
$12.6 M |
| 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
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NAICS Industry Codes For This Invention |
| 33999 - All Other Miscellaneous Manufacturing |
| 44111 - New Car Dealers |
| 44815 - Clothing Accessories Stores |
| 45211 - Department Stores |
| 45399 - All Other Miscellaneous Store Retailers |
|
| Patent Numbers that apply to this Product/Service |
| 11/599,136 |
| |
| |
| |
| |
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| Inventor(s) PEDIGREE |
| Years EXPERIENCE in related industry |
5 |
| GRANTED Patents |
0 |
| Licensing Deals SIGNED |
0 |
| Innovations that have SHIPPED |
0 |
|
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"
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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.
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| Listing #: USA.76.062809.001 |
Page 4 of 5 |
Date Posted: 2009-07-23 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
Additional Forecasts for Other Countries
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|
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 |
$1 |
$83,000 |
$520,000 |
| Low Support |
$1.2 M |
$2.5 M |
$4.6 M |
| Medium Support |
$10.7 M |
$17.4 M |
$26.4 M |
| High Support |
$29.9 M |
$47.7 M |
$69.6 M |
| Ultra High |
$57.0 M |
$90.3 M |
$130.5 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 |
$1 |
$150,000 |
$930,000 |
| Low Support |
$2.1 M |
$4.5 M |
$8.1 M |
| Medium Support |
$19.0 M |
$30.8 M |
$46.8 M |
| High Support |
$53.0 M |
$84.6 M |
$123.5 M |
| Ultra High |
$101.1 M |
$160.2 M |
$231.5 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.76.062809.001 |
Page 5 of 5 |
Date Posted: 2009-07-23 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|