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Light Looks Lighting Accents Electricity free chandelier for homeowners There are currently no reviews for this Innovation.
| Light Looks Lighting Accents
Electricity free chandelier for homeowners |
|
Add the look of a chandelier to your ceiling lights quick and easy with these inexpensive decorative attachments without harming your ceiling or having to hire an electrician. |
 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 |
$470,000 |
$3.2 M |
2 of 5
Successful Prototypes
|
2 of 5
Patent Pending
|
36 29 is
Average
|
| Low Support |
$6.6 M |
$15.4 M |
$31.3 M |
| Medium Support |
$57.4 M |
$106.1 M |
$189.3 M |
| High Support |
$163.6 M |
$289.4 M |
$506.6 M |
Remaining Time & Cost to First Sale |
| Ultra High |
$312.7 M |
$550.9 M |
$952.4 M |
1-2 yrs
|
$10k-$100k
|
Light Looks Lighting Accents
- Electricity free chandelier for homeowners
Final Decision Maker: women who decorate their homes
LIGHT LOOKS Lighting Accents
Add the look of a chandelier to your ceiling lights quick and easy with these decorative attachments. Does not require electricity but illuminates from the existing light source. Similar items require cords hanging and having to make holes in the ceiling. Light Looks won't harm ceiling and are a reusable accessory that adds the look of a new light fixture without extra electricity. Update your average recessed ceiling or dome light fixture yourself inexpensively. Unlike a hard-wired light fixture you can change your LIGHT LOOKS per the season or as room decor changes and still have the look of a different light. Just place hooks in between ceiling material and trim and LIGHT LOOKS reflects light through its faceted beads to look like a chandelier. Satisfied customer says, "What a great addition to my room. Very inexpensive compared to a new light fixture and I could do it myself." "After receiving my Fine Arts degree I've now been in the interior design business for 9 years. My clients love this new look in home decor. Many people who've purchased model homes I have decorated want the LIGHT LOOKS Lighting Accents to be included. Many have asked if I have these in stores." The illumination of the decoration comes from the existing light source. No holes to make in ceiling for hanging. No electric cords needed. Lightweight and very inexpensive.
| $30 for one light looks accent | Seeking: Research, Purchase, Investment, Distribution, Manufacturing/R&D |
|
* 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.76.111309.006 |
Page 1 of 5 |
Date Posted: 2009-11-21 |
|
| ©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 |
72,500,000 |
30% |
Not all households include women. Not all women like to decorate their homes.
|
| Revenue per First Purchase |
$60.00 |
40% |
Estimate based on a small number of questionaires filed out by random people at inventor shows. |
| % that will Repeat |
75% |
30% |
If a person likes this type of decor they will likely buy other variations to change decor for holidays or for gifts. |
| Number of Annual Repeats |
2 |
30% |
Either they will enjoy the nuetral version to match the rooms decor or they will purchase a different one for each season. |
| Revenue per Repeat Purchase |
$60.00 |
30% |
If they buy one or a set of 3 then they will likely buy the same number of items for the same fixtures. |
| Reseller (Trade) Margin |
45% |
50% |
The perfect place to sell this item is a home improvement store or a lighting store. |
| Producer Profit (EBITD) |
13% |
40% |
The gift and accessory market is huge with a lot of competition. |
| |
| Innovation Status |
|
Development
Status |
2 of 5
Successful Prototypes
|
Prototypes have been sold to customers locally with materials acquired from retail outlets to construct myself but time and cost input is too much. Need to go through sourcing co. |
| Cost to First Sale (remaining) |
$10k-$100k |
50% |
Estimate from sourcing co. was less than $5 per item to my door cost from China.Minimum run 3,000. No molds just basic assembly of parts. |
| Time to First Sale (remaining) |
1-2 yrs |
40% |
Received prototype from China in 3 months. Secure manufacturer through sourcing co. Cheap materials. I have a lighting store that will sell them. |
| Confidence in Concept Claims made in description |
50% |
Sold prototypes to satisfied customers. Word of mouth has created more sales. No electrician needed. I installed them in less than 30 seconds. Average chandelier costs $200 and up. |
Proprietary
Protection Status |
2 of 5
Patent Pending
|
Non-provisional filled June 5, 2008. Office action received and responded to October, 2008 |
| 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.76.111309.006 |
Page 2 of 5 |
Date Posted: 2009-11-21 |
| ©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 |
$50,000 |
Current GOAL |
$100,000 |
Better to add a reusable, inexpensive accessory that gives you the look of a new fixture than to hire electrician to install a new light.No xtra energy needed for reflective effct |
Inventor(s) Commentary:
I've been selling LIGHT LOOKS for $20 and my customers can't believe how cheap that is. There are many avenues this product can take, I've included the basic version and made hints of others like creating color variations for holidays. There are also styles that are made of sheer fabrics. Even a line for men with team colors or beer labels that would hang from recessed bar lights. Also I make a bigger size to attach to a dome light for kids bedrooms. Party decor line is made from mylar. |
|
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 |
$470,000 |
$3.2 M |
| Low Support |
$6.6 M |
$15.4 M |
$31.3 M |
| Medium Support |
$57.4 M |
$106.1 M |
$189.3 M |
| High Support |
$163.6 M |
$289.4 M |
$506.6 M |
| Ultra High |
$312.7 M |
$550.9 M |
$952.4 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 |
$6 |
$740,000 |
$5.0 M |
| Low Support |
$10.5 M |
$24.4 M |
$49.2 M |
| Medium Support |
$91.2 M |
$166.1 M |
$296.1 M |
| High Support |
$258.2 M |
$461.7 M |
$779.7 M |
| Ultra High |
$494.6 M |
$858.8 M |
$1.5 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 |
$680,000 |
$5.0 M |
| Low Support |
$9.6 M |
$23.7 M |
$52.6 M |
| Medium Support |
$82.1 M |
$162.2 M |
$312.4 M |
| High Support |
$229.2 M |
$450.3 M |
$857.1 M |
| Ultra High |
$434.3 M |
$855.7 M |
$1.7 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 |
$8.1 M |
| Low Support |
$15.1 M |
$37.6 M |
$82.3 M |
| Medium Support |
$131.2 M |
$260.8 M |
$496.4 M |
| High Support |
$362.5 M |
$703.7 M |
$1.3 B |
| Ultra High |
$702.5 M |
$1.3 B |
$2.5 B |
|
| Listing #: USA.76.111309.006 |
Page 3 of 5 |
Date Posted: 2009-11-21 |
| ©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% |
1.7% |
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 |
$3,400 |
$9,800 |
$21,000 |
$29,000 |
| Low Support |
$56,000 |
$140,000 |
$260,000 |
$410,000 |
| Medium Support |
$400,000 |
$900,000 |
$1.6 M |
$2.7 M |
| High Support |
$1.1 M |
$2.5 M |
$4.3 M |
$7.4 M |
| Ultra High Support |
$2.2 M |
$4.7 M |
$8.1 M |
$14.0 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 |
| 33999 - All Other Miscellaneous Manufacturing |
| |
| |
| |
| |
|
| Patent Numbers that apply to this Product/Service |
| 12/133,610 |
| |
| |
| |
| |
|
| Inventor(s) PEDIGREE |
| Years EXPERIENCE in related industry |
9 |
| 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.76.111309.006 |
Page 4 of 5 |
Date Posted: 2009-11-21 |
| ©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 |
$1 |
$75,000 |
$500,000 |
| Low Support |
$1.0 M |
$2.4 M |
$5.0 M |
| Medium Support |
$9.1 M |
$16.8 M |
$30.0 M |
| High Support |
$25.9 M |
$45.9 M |
$80.3 M |
| Ultra High |
$49.6 M |
$87.3 M |
$151.0 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 |
$1 |
$130,000 |
$890,000 |
| Low Support |
$1.9 M |
$4.3 M |
$8.8 M |
| Medium Support |
$16.1 M |
$29.8 M |
$53.2 M |
| High Support |
$46.0 M |
$81.4 M |
$142.5 M |
| Ultra High |
$87.9 M |
$154.9 M |
$267.8 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.76.111309.006 |
Page 5 of 5 |
Date Posted: 2009-11-21 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
