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    3 Replies Latest reply on Feb 8, 2009 6:25 PM by KidSaver

    Need help with the next step of the business.

    KidSaver Newbie
      Hello and thank you for taking the time to read my post.

      In 2003 I started working on a project for a product that would aid in the prevention of accidentally leaving a child in a car. Hundreds of children have died due to hypo/hyperthermia because the caregiver forgets.

      By 2005, we got our patent, became an LLC and started creating the technology for practical use. Within those two years, the agencies we had worked with included, but were not limited too NASA Langley, Kids and Cars Organization, National Center for Missing and Exploited Children and several others. We went to these agencies to understand the problems and develop a concept for the technology.

      Fast forward to 2008 and we had a law passed in February of that year, H.R. 1216, The Cameron Gulbransen Kids and Cars Safety Act. The retail product is ready for production. Functional prototypes completed by an engineering firm with full CADs for tooling.

      Our personal investments to this point are roughly $300,000.00 US.

      Over this time, our credit has taken a beating, but, we are ready to start selling and making money.

      Our wholesale sales only need to reach 40,000 units a year to turn a healthy profit of 37%.

      If our entire sales force were retail only, we would only need to sell 22,000 units a year for the same gain.

      My main financial backer is a director of a public company. At the time we started, her stock was running at $5.50 a share and she held nearly 2 million shares. The stock of the company dropped drastically and the funds have just about run out. She still has the stock.

      I am a disabled vet, only 10%, but, that is all that is needed to qualify for VA funding. Unfortunately, I don't have the good credit rating. Before I test those waters, I want to get some help.

      This is an abbreviated version of my situation. I am looking for interested parties who are in a position to help with a child safety product that has a retail market for the mobile version and a wholesale market with the automobile manufacturer version.
        • Re: Need help with the next step of the business.
          KidSaver Newbie
          A little more info about the product.

          It is a weight sensitive pad with a proximity alert and anti-abduction straps. If you walk away, the key fob alarms. If you move the product to a stroller and someone tries to walk away with the child, the key fob alarms. If someone tries to undo the buckles, it alarms. It is mobile and weighs less than a pound. It is pliable and can be put into a diaper bag. You can use it in a car seat, stroller, shopping cart etc.

          The automotive version is universal and has several functions. We can have this version complete for the NHTSA (National Highway Traffic Safety Administration) in under 6 months time. The utility patent to our main patent is a work in progress with the technology for this. With NHTSA approval, it will be required by the law H.R. 1216 to be in every automobile sold in the United States. It is cost effective enough to make it standard equipment worldwide.
          • Re: Need help with the next step of the business.
            entrep6775 Wayfarer
            Just read your post... have Q&A:

            1. Do you have an on-line presence yet, if so what's the url?

            2. Where can I read more about your product in the 'real world'?

            3. Are you interested in:
            A. marketing your product...
            B. recruiting salespeople ..
            C acquiring financing or partnerships...
            D. or Other: ??

            4. Who is your largest product competitor right now?

            5. You mentioned having an established niche market- how were the results of that conclusion been arrived at? (recent research study, poll, or custom market analysis?)

            6. Do you have a forward-looking business plan/financial projection paper?

            7. Where are you at right now with this project, and what's next?

            8. Can you be, or are you willing to be, contacted by email or phone?
            (if so, send a message with your best contact info to:
            telco7@hotmail.com

            gc
            1 of 1 people found this helpful
              • Re: Need help with the next step of the business.
                KidSaver Newbie
                To answer your questions:

                1. The website is not ready yet. When the production run is done, we will have a complete online solution including ecommerce for the retail version. We will be linked with www.kidsandcars.org , www.missingkids.org and several other child safety agencies.

                2. The product can be read about at www.kidsandcars.org. In the Technology section under other technology, there is a NASA link. This is new technology that has been patented and only finished from a tooling and manufacturing standpoint within the last 6 months. You can read about the law encompassing this technology at http://www.govtrack.us/congress/bill.xpd?bill=h110-1216

                3. Most interested in C. acquiring financing and or a partnership. The testing, CADs and technology are ready for us to go into production tomorrow. We have working product now, but are short on financial resources to make the product available to the public.

                4. We don't really have a competitor. There are expensive GPS units out there now, but, they are only good for finding a missing computer chip. Our product is meant to be used for the 5 and under child in this application. The response time frame for our product is immediate as it triggers at a distance of 25-33 feet or when a buckle is unlocked. Our mobile version will retail for $100 US. Our manufacturing costs will be less than $30 per unit. Wholesale price will come in just under $60.

                5. Currently in North America, there are are 29 million children under the age of 5 (24 million in the U.S. and 5 million in Canada). Each year, another 5 million are born (4 and 1 respectively). At our pricing structure, we make for a perfect baby shower gift. With wholesale sales of the product, we need to sell 40,000 units a year to turn a 37% profit. This is for our retail mobile version.

                For the automotive version, with NHTSA approval, the technology will be required by law to be in every vehicle sold in the United States that has a back seat under 8600 GVWR. Roughly 7 million vehicles a year.

                6. Our business plan is always a work in progress. I do have materials for review. The financial projection is only waiting for absolute costs on production. We do have an initial prospectus.

                7. We are ready for production, marketing and sales. I do have an approximate work up of costs for the next step, but, it is not in a spreadsheet solution next. I do need to have an investor/financial planner work with me on this.

                8. My contact information is:

                Tony Lliteras
                Vice President
                KidSaver, LLC
                tlliteras@comcast.net

                I am more than willing to give my phone number to those who have an interest to speak with me directly after an initial email.

                Thank you for taking the time to ask your questions. I will send you an email from the above address.