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Honey Drop natural sugar cube alternative for tea and coffee drinkers There are currently no reviews for this Innovation.
| Honey Drop
natural sugar cube alternative for tea and coffee drinkers |
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The Honey Drop is the world's first alternative to the sugar cube made from 100% natural, pure dried honey. |
 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 |
$550,000 |
$2.8 M |
5 of 5
Shipping & Selling
|
4 of 5
Major Trade Secrets
|
54 29 is
Average
|
| Low Support |
$6.4 M |
$13.8 M |
$26.5 M |
| Medium Support |
$53.0 M |
$92.8 M |
$157.1 M |
| High Support |
$143.6 M |
$250.4 M |
$414.0 M |
Remaining Time & Cost to First Sale |
| Ultra High |
$272.9 M |
$463.0 M |
$764.3 M |
< 6 months
|
< $10k
|
Honey Drop
- natural sugar cube alternative for tea and coffee drinkers
Final Decision Maker: Hot beverage consumers, tea and coffee drinkers
Honey Drop(tm): the healthier sugar cube. The Honey Drop is the world's first natural alternative to the sugar cube for health conscious consumers. In taste comparisons, the Honey Drop is preferred to sugar by 8 out of 10 tea drinkers. The Honey Drop is preferred 9 out of 10 times to liquid honey by coffee drinkers. The Honey Drop solves the honey problem: honey is messy. The Honey Drop is a honey you can hold: no more sticky fingers. The Honey Drop contains only 100% natural, pure dried honey with no additives of any kind. The Honey Drop is a healthier option to refined sugar as honey contains many nutrients, anti-oxidants and is more easily absorbed by your body. The Honey Drop uses a one of a kind, patent pending drying method which maintains all of honey's natural aroma, look and taste. The Honey Drop production method also extends honey's shelf life as it will not go bad in your cupboard. The Honey Drop has a shelf life of 3+ years. The Honey Drop is used by hotels such as Fairmont Hotels and Resorts, professional sports teams including the New York Knicks, the New York Rangers and the Vancouver Canucks, as well as, the Canadian Military.
| $9.99 for 20 Honey Drops (one retail box) | 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.76.032609.025 |
Page 1 of 5 |
Date Posted: 2009-04-07 |
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| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
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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 |
90,000,000 |
90% |
Data based on US Tea and Coffee Trade Associations' figures for tea and coffee consumption in the USA per capita/household.
|
| Revenue per First Purchase |
$9.99 |
90% |
Data is based on actual sales through existing retail clients in US and Canada, as well as, direct to consumer sales via online store. Ie: buyer typically buys one of two flavors. |
| % that will Repeat |
60% |
70% |
Data is based on actual sales through existing retail clients in US and Canada, as well as, direct to consumer sales via online store. |
| Number of Annual Repeats |
4 |
50% |
Data is based on actual sales through existing retail clients in US and Canada, as well as, direct to consumer sales via online store. |
| Revenue per Repeat Purchase |
$19.98 |
90% |
Data is based on actual sales through existing retail clients in US and Canada, as well as, direct to consumer sales via online store. Ie: repeat buyer typically buys both flavors. |
| Reseller (Trade) Margin |
35% |
90% |
The Honey Drop is currently sold across Canada in retail and in select regional retailers in the USA. The data above is based on existing sales. |
| Producer Profit (EBITD) |
15% |
80% |
Net profit margin estimates are based on current financials and forecasted growth over the next 3 years. |
| |
| Innovation Status |
|
Development
Status |
5 of 5
Shipping & Selling
|
The Honey Drop was launched in 2008 and is currently distributed nationally across Canada and in select regions of the USA to retail and food service clients. |
| Cost to First Sale (remaining) |
< $10k |
90% |
The Honey Drop is currently sold across Canada in retail and in select regional retailers in the USA. |
| Time to First Sale (remaining) |
< 6 months |
90% |
The Honey Drop is currently sold across Canada in retail and in select regional retailers in the USA. |
| Confidence in Concept Claims made in description |
60% |
Data based on: consumer focus groups, blind taste tests, sales feedback, trade event participation, retail/private label client testing, and tea/coffee/honey industry group data. |
Proprietary
Protection Status |
4 of 5
Major Trade Secrets
|
Product patents have been filed in the USA and Canada. Method patents will be filed on production methods as well as design patents on proprietary food processing equipment. |
| Concept Score & Diagnostics |
|
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| Concept Diagnostics |
Red |
Yellow |
Green |
| Percentile Group |
Bottom 40% |
Middle 40% |
Top 20% |
| Overt Benefit |
|
 |
|
| Reason to Believe |
|
|
|
| Dramatic Difference |
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| Listing #: USA.76.032609.025 |
Page 2 of 5 |
Date Posted: 2009-04-07 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
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Inventor Commentary & Alternative Development Scenarios
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| Inventor(s) Sales Goals |
| Minimum Goal |
$2 M |
Current GOAL |
$5 M |
Honey Drop: The Healthier Sugar Cube. |
Inventor(s) Commentary:
The Honey Drop was launched in 2008. Media coverage has included Fancy Food Magazine, Catering Magazine, the Washington Post, Every Day with Rachael Ray and others. In May, GDR Creative Intelligence, a UK market research firm included us in their quarterly global innovation report. In June, Food in Canada Magazine named the Honey Drop one of the Top 10 Innovations of 2008. At the Americas Food and Beverage Show in Miami we were awarded the Best New Condiment of 2008. For info: www.Honibe.com. |
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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 |
$550,000 |
$2.8 M |
| Low Support |
$6.4 M |
$13.8 M |
$26.5 M |
| Medium Support |
$53.0 M |
$92.8 M |
$157.1 M |
| High Support |
$143.6 M |
$250.4 M |
$414.0 M |
| Ultra High |
$272.9 M |
$463.0 M |
$764.3 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 |
$5 |
$760,000 |
$3.8 M |
| Low Support |
$9.0 M |
$19.1 M |
$36.4 M |
| Medium Support |
$74.0 M |
$127.9 M |
$215.7 M |
| High Support |
$198.5 M |
$347.4 M |
$566.7 M |
| Ultra High |
$378.9 M |
$642.5 M |
$1.1 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 |
$7 |
$1.0 M |
$5.2 M |
| Low Support |
$11.2 M |
$24.9 M |
$48.7 M |
| Medium Support |
$89.2 M |
$172.5 M |
$295.2 M |
| High Support |
$245.4 M |
$456.8 M |
$794.7 M |
| Ultra High |
$470.4 M |
$854.5 M |
$1.5 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 |
$1.4 M |
$7.0 M |
| Low Support |
$15.7 M |
$34.5 M |
$68.3 M |
| Medium Support |
$125.4 M |
$233.8 M |
$413.3 M |
| High Support |
$345.4 M |
$635.6 M |
$1.1 B |
| Ultra High |
$643.8 M |
$1.2 B |
$2.0 B |
|
| Listing #: USA.76.032609.025 |
Page 3 of 5 |
Date Posted: 2009-04-07 |
| ©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 |
2.3% |
2.8% |
3.5% |
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 |
$7,800 |
$20,000 |
$36,000 |
$59,000 |
| Low Support |
$120,000 |
$250,000 |
$410,000 |
$750,000 |
| Medium Support |
$880,000 |
$1.6 M |
$2.5 M |
$4.9 M |
| High Support |
$2.4 M |
$4.4 M |
$6.7 M |
$13.1 M |
| Ultra High Support |
$4.5 M |
$8.0 M |
$12.2 M |
$24.1 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% |
N/A |
| Low Support (Small Company) |
20% |
10% |
2% |
% |
| 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 |
| 31199 - All Other Food Manufacturing |
| 31192 - Coffee and Tea Manufacturing |
| 31131 - Sugar Manufacturing |
| |
| |
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| Patent Numbers that apply to this Product/Service |
| 61/144,824 |
| 15372600 |
| |
| |
| |
|
| Inventor(s) PEDIGREE |
| Years EXPERIENCE in related industry |
20 |
| GRANTED Patents |
0 |
| Licensing Deals SIGNED |
500 |
| Innovations that have SHIPPED |
25 |
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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.76.032609.025 |
Page 4 of 5 |
Date Posted: 2009-04-07 |
| ©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 |
$87,000 |
$440,000 |
| Low Support |
$1.0 M |
$2.2 M |
$4.2 M |
| Medium Support |
$8.4 M |
$14.7 M |
$24.9 M |
| High Support |
$22.8 M |
$39.7 M |
$65.6 M |
| Ultra High |
$43.3 M |
$73.4 M |
$121.1 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 |
$780,000 |
| Low Support |
$1.8 M |
$3.9 M |
$7.4 M |
| Medium Support |
$14.9 M |
$26.1 M |
$44.2 M |
| High Support |
$40.4 M |
$70.4 M |
$116.4 M |
| Ultra High |
$76.7 M |
$130.2 M |
$214.9 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.76.032609.025 |
Page 5 of 5 |
Date Posted: 2009-04-07 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
