Quote:
Originally Posted by Josh K
That is exactly what we plan to do. We are exploring three main revenue streams for the product. The first being a simple pre-cut kit that a customer can order, have shipped to their house, and install themselves. This would obviously be the cheapest option, yet also the most difficult for the customer, although I imagine with the right tools and some patience, many people could do a decent job installing the product themselves.
The second revenue stream that we are exploring is by having the product installed at certified installation locations across the country. SeaDek operates in a similar fashion, having certified installers at various locations around the country, who are trained to complete a professional installation of the product. The link below provides more information on how they do this if anybody is interested:
http://www.seadek.com/blog/seadek-ex...aller-network/
The final revenue stream and the one that I am most excited about is exactly what you mentioned. We want to have this product as an option when speccing out a brand new boat. This idea was also taken out of SeaDek's playbook, as for most new boats, you have the option of having SeaDek installed straight from the factory. This way, customer's can rest easy knowing that their hull is fully protected straight from the factory, and don't have to worry about putting a nice white scratch in their brand new black hull (something my Dad and I had the pleasure of doing last summer, and one of the catalysts for this idea). |
Honestly having watched a lot of Shark Tank.... I think if you were to create something that does work and has some market value those guys and gals might say the following:
Very niche and vertical market. Start up costs would be huge think about Marketing, manufacturing, distribution. Profit margins would have to be huge because you have a niche low volume target market. Providing pre-cut patterns for every hull design out there alone may be cost prohibitive.
You'd absolutely need to have a patent on it.
Frankly I think you're best bet would be to license it out and take a passive per unit % in perpetuity and let a bigger fish that is well positioned with the marketing, distribution and manufacturing already in place take it.
Good luck - I have a lot of admiration for any entrepreneur. Could make you millions and if it does that's freaking awesome!