Needs/Wishes for Innovation
Businesses looking for similar products or services Laser/CNC/Plating Sheet metal parts & assemblies for for electronics and/or aerospace
Fast & Flexible Laser Cutting for Flat & 3 dim formed parts
Improve Quality, reduce costs, fast to market Laser based advanced engineering services for Reverse Engineering, 3D CAD modeling, 3rd party certified ISO17025 acredited Inspections
Quick turnaround Machined parts for For Orthopedic, Medical, Dental, Aerospace, Semi-conductor, Food processing and hydraulic industries.
marking, cutting, engraving, mechanical engineering, R&D, prototyping, assembly, Custom Excel based configuration and sales tools. Wood, slate, leather, glass, acrylic, steel, etc. for piece parts or finished goods |
Quick & Easy Laser Square Quick Laser Square for Do-it-yourselfers, Construction Workers, Handyman There are currently no reviews for this Innovation.
| Quick & Easy Laser Square
Quick Laser Square for Do-it-yourselfers, Construction Workers, Handyman |
|
A quick, easy and accurate laser square for indicating when two long items are at a ninety degree angle, or square, to one another. |
 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 |
$28,000 |
$180,000 |
2 of 5
Successful Prototypes
|
2 of 5
Patent Pending
|
50 29 is
Average
|
| Low Support |
$320,000 |
$870,000 |
$1.8 M |
| Medium Support |
$2.9 M |
$6.3 M |
$11.4 M |
| High Support |
$7.8 M |
$17.4 M |
$30.5 M |
Remaining Time & Cost to First Sale |
| Ultra High |
$14.4 M |
$31.7 M |
$55.9 M |
< 6 months
|
$10k-$100k
|
Quick & Easy Laser Square
- Quick Laser Square for Do-it-yourselfers, Construction Workers, Handyman
Final Decision Maker: Do-it-yourselfers, construction workers, Fix-it men, Tradesmen
Building something Level, Plumb and Square are the cornerstonesof quality construction. Currently, Level and Plumb have high-tech tools that insure greater accuracy and speed of measurement. The Quick & Simple Laser Square brings speed, accuracy and convenience to the Square cornerstone. This is a new type of laser square not currently on the market that allows you to square items while working alone and while working overhead and in other unusual attitudes. It is more accurate as well as quicker and easier to use than existing devices for squaring long items during construction, remodeling or household maintenance. To use the square you simply: 1) Measure the length of the board that will be squared. 2) From the point where the two boards meet, measure one half of the previously measured length along the other board and place a reference mark there. 3) Place the laser square at the far end the board that will be squared. 4) Move the end of the board with the square to the left or right until the laser spot is aligned with the reference mark 5) You are done. This is faster and easier than using a tape measure to measure out a 3-4-5 or 6-8-10 triangle to square the boards and you can do it alone regardless of the length of the boards being squared. You can do this without having someone else there to hold the other end of a tape measure. You can do this while working overhead or in other awkward spaces orsituations. It is far simpler than using existing laser squares which are difficult to setup accurately and difficult to position unless they are lying flat on the floor. You do not need to figure out how to keep the Quick & Easy Laser Square inplace and aligned. You can simply hold it in place while squaring the things up. You can use the Quick & Easy Laser Square when installing a deck, during framing of new construction and remodels, installing a garage door opener or garage door, installing ceiling-mounted track lighting, laying out tile or installing a wood floor. In a nutshell this, laser square is a small device that projects a laser beam at a fixed angle, for example forty five degrees, to its base. When aligned at a known distance on the board being squared, a laser spot is projected onto the reference board. Only when the two boards are at ninety degrees with each other will the laser spot fall on the reference mark on the other board.
| $50 for one square | Seeking: Research, Purchase |
|
* 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.76.091409.001 |
Page 1 of 5 |
Date Posted: 2009-09-30 |
|
| ©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 |
7,000,000 |
20% |
I am guessing that 1 in 10 homeowners do some work on their house at one time or another. Optimistic guess 1 in 5, Pessimistic guess 1 in 20.
|
| Revenue per First Purchase |
$50.00 |
20% |
Typical existing laser squares and levels cost from $30 to $200 typically running around $40 - $50 |
| % that will Repeat |
10% |
30% |
Construction workers and tradesmen could be buying second or third units to support multiple jobs or coworkers. DIYers are likely to purchase one as a gift. |
| Number of Annual Repeats |
1 |
20% |
This is a guess |
| Revenue per Repeat Purchase |
$50.00 |
20% |
This is a guess |
| Reseller (Trade) Margin |
40% |
30% |
Home Depot at 40% should be typical of the sales channel. |
| Producer Profit (EBITD) |
15% |
20% |
I am guessing that since this is a new and unique product it should be able to command a higher percentage. |
| |
| Innovation Status |
|
Development
Status |
2 of 5
Successful Prototypes
|
Prototypes have been tested. A final design exists. The concept is very simple and can be produced with many different ways. New designs are quick and easy to create. |
| Cost to First Sale (remaining) |
$10k-$100k |
60% |
A production ready prototype exists. Some cost reduction design may be needed. Some design engineering may be desired. Minimal regulatory testing is needed. |
| Time to First Sale (remaining) |
< 6 months |
60% |
The design as it stands today could be put in production immediately. Subject to manufacturing lead time issues. Any design changes would be minimal since it is a simple product. |
| Confidence in Concept Claims made in description |
60% |
The concept is extremely simple, yet relies on principles of trigonometry that have been around for over two thousand years. It does not need extensive testing. |
Proprietary
Protection Status |
2 of 5
Patent Pending
|
|
| 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.76.091409.001 |
Page 2 of 5 |
Date Posted: 2009-09-30 |
| ©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 |
$0.5 M |
Current GOAL |
$2 M |
Inventor(s) Commentary:
A simple laser square is described in this document, however, the laser square is ideal as an add on feature for a digital or laser level or high end tape measure.
Many enhancements can be EASILY added to the square that allow the operator to adjust it for other ratios; allow it to work on multiple fixed ratios; allow it to support angles other than square (90 degrees).
It would be quick and easy to create a family of products stemming from the basic square. |
|
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 |
$28,000 |
$180,000 |
| Low Support |
$320,000 |
$870,000 |
$1.8 M |
| Medium Support |
$2.9 M |
$6.3 M |
$11.4 M |
| High Support |
$7.8 M |
$17.4 M |
$30.5 M |
| Ultra High |
$14.4 M |
$31.7 M |
$55.9 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 |
$0 |
$40,000 |
$250,000 |
| Low Support |
$460,000 |
$1.2 M |
$2.6 M |
| Medium Support |
$4.1 M |
$8.9 M |
$16.0 M |
| High Support |
$11.2 M |
$24.6 M |
$42.8 M |
| Ultra High |
$20.8 M |
$44.7 M |
$77.8 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 |
$200,000 |
| Low Support |
$360,000 |
$970,000 |
$2.1 M |
| Medium Support |
$3.2 M |
$7.0 M |
$12.6 M |
| High Support |
$8.7 M |
$19.3 M |
$34.0 M |
| Ultra High |
$15.9 M |
$35.4 M |
$62.0 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 |
$0 |
$44,000 |
$280,000 |
| Low Support |
$520,000 |
$1.4 M |
$2.9 M |
| Medium Support |
$4.6 M |
$9.9 M |
$17.7 M |
| High Support |
$12.6 M |
$27.5 M |
$47.6 M |
| Ultra High |
$23.1 M |
$50.1 M |
$87.1 M |
|
| Listing #: USA.76.091409.001 |
Page 3 of 5 |
Date Posted: 2009-09-30 |
| ©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 |
1.6% |
2.2% |
3% |
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 |
$310 |
$810 |
$1,600 |
$2,400 |
| Low Support |
$5,100 |
$12,000 |
$20,000 |
$35,000 |
| Medium Support |
$38,000 |
$79,000 |
$130,000 |
$240,000 |
| High Support |
$110,000 |
$220,000 |
$360,000 |
$650,000 |
| Ultra High Support |
$190,000 |
$390,000 |
$650,000 |
$1.2 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
 |
NAICS Industry Codes
For This Invention |
| 23611 - Residential Building Construction |
| 44411 - Home Centers |
| 44413 - Hardware Stores |
| |
| |
|
| Patent Numbers that apply to this Product/Service |
| 12/386444 |
| |
| |
| |
| |
|
| Inventor(s) PEDIGREE |
| Years EXPERIENCE in related industry |
25 |
| GRANTED Patents |
0 |
| 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.76.091409.001 |
Page 4 of 5 |
Date Posted: 2009-09-30 |
| ©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 |
$4,500 |
$28,000 |
| Low Support |
$51,000 |
$140,000 |
$290,000 |
| Medium Support |
$450,000 |
$1.0 M |
$1.8 M |
| High Support |
$1.2 M |
$2.8 M |
$4.8 M |
| Ultra High |
$2.3 M |
$5.0 M |
$8.9 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 |
$7,900 |
$50,000 |
| Low Support |
$91,000 |
$250,000 |
$520,000 |
| Medium Support |
$800,000 |
$1.8 M |
$3.2 M |
| High Support |
$2.2 M |
$4.9 M |
$8.6 M |
| Ultra High |
$4.0 M |
$8.9 M |
$15.7 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.76.091409.001 |
Page 5 of 5 |
Date Posted: 2009-09-30 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
