To secure this minimum budget of US-$10M, we will first engage with a leading global consumer goods company that has a portfolio of well-known brands including household electronics such as bathroom scales. After we tender an exclusive licensing agreement for our blockbuster HMD product, this company will be able to exploit our market monopoly with viral sales into every home that has adolescents.
Here is our rationale for $10M: First, the bathroom weight-scale is our HMD’s parallel or benchmark market. Even though the weight-scale markets are mature and saturated, according to sales data found on Statista.com, bathroom weight scales still yielded US-$1.37B in U.S. retail sales from 2013 to 2017 (an estimated 5.2M units per year). While these bathroom weight-scale numbers are very encouraging, even more encouraging, is our HMD which is entirely untapped within a market of 65M adolescents in the U.S. alone. Assuming Walmart Supercenters, Target stores, and Bed Bath & Beyond (a combined 6,409 U.S. stores) sell only one HMD unit per day, per store, the annual volume will equal more than 2.33M units. Hence, 2.33M HMD units sold at a US-$50 wholesale price adds up to US-$117M (well above our US-$10M projection). Further accounting for our add-on weight scales sales (which triggers the height prediction feature on our HMD), these numbers will grow even faster.
Within the current marketplace, Height Measuring Devices (HMDs) have NOT adequately met the growing device demand for measuring and monitoring adolescent growth, trends, and issues. Unfortunately, HMDs generally are characterized as NOT being "easy-to-use" and having many tedious steps to obtain a simple height reading! Most HMDs in the invention archives are conspicuously cumbersome, and will never see commercialization. Today, our exciting new IP has changed this user paradigm, and our HMD is now the gold standard for “ease-of-use” (i.e., our user stands beneath the mounted device, pulls the platform onto the top of their head, and within seconds, a height reading appears on the LCD screen). Our inspiration for the HMD design was the bathroom weight-scale! Since the weight scale’s invention in the 1770s, it has been a paradigm for ease-of-use (i.e., the user stepped onto a weight-scale platform, and within seconds, an analog weight reading appeared). It follows that this “ease-of-use” paradigm helped shape the weight-scale’s fitness for large-scale commercialization within the marketplace. Our IP has similarly changed the model for HMDs, making our device fit for profitable sales and marketing within the same metrical market.
The parallel market to our HMD is the standard bathroom weight-scale which had retail sales of US-$1.37B from 2013 to 2017, representing unit sales of approximately 26M weight-scales in the 5-year period.
For the last twenty-eight years, the U.S. birthrate has been stable at around 4M babies per year. Since our target market is primarily families with adolescent children, the HMD market seems to be self-replenishing and stable.
Parents of adolescents are the primary target market for our HMD. The U.S. adolescent population is 62M (ranging in age from 5 to 19) representing approximately 20% of the entire U.S. population.
Our Medical HMD yields precision human stature measurements. Medical practices will benefit from our HMD’s ability to instantly display and sync accurate adult and adolescent heights within their EMRs.