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Survive Capsize with the Boat Buoyancy Aid
[Category : - Life-saving; Fire-fighting- Fishing and hunting- Boating]
[Viewed 1874 times]
The buoyant sun shade is positioned high on the vessels centreline by means of a robust targa bar/sports bar to ensure maximum righting power.
The product also has the ability to be completely collapsed when not in use for easy storage and road transport.
Many lives are lost needlessly each year due to small vessel capsize and drowning. Many lives are also lost due to sun cancer.
The Boat Buoyancy Aid will assist in recovery from capsize by allowing victims to right the vessel thereby accessing life jackets, safety gear, food and water. Subsequently passengers are then able to gain protection from the elements and marine predators and attract help or effect self rescue.
The placement of buoyancy high on a vessels centreline to aid recovery from capsize is not a new technique, this method of capsize recovery has been used on rescue vessels in the commercial marine industry for many years.
However there are currently no other products in the recreational small vessel industry that provide capsize protection and shelter from the sun and rain in one combined product.
This product will provide the customer with peace of mind due to the professional level of safety and they will therefore be highly motivated to purchase a sun shade that doubles as a life saving apparatus for just a small premium on the price of a standard bimini.
Results of a survey conducted with boating enthusiasts returned a 92% positive response to concept, with 90% likely to buy.
In the US there are approximately 9 million vessels under six metres in length as of 2017.
Annual US sales of boats, marine products and services amounted to USD$36 Billion in 2016 with 141.6 million people going boating. (NMMA)
Once consumers are aware of the safety advantages of this product and that the commercial marine industry has enjoyed this level of safety for many years, it is entirely possible to see a Boat Buoyancy Aid on a high percentage of recreational vessels within a very short period of time.
US Patent 9815533
Australian patent number AUS2016200614
Follow the link below to view a short 3 minute demonstration video.
Link
Financial information
Product:
Boat Buoyancy Aid
Description:
An inflatable buoyancy device incorporated into a folding sun shade and mounted on a Targa bar that will assist in returning a small vessel to the upright position in the event of a capsize.
Price:
$750.00 - $950.00
Lifesaving Solution:
In 2017, the USCG counted 4,291 accidents that involved 658 deaths, 2,629 injuries and approximately $46 million dollars of damage to property as a result of recreational boating accidents.
34% of the 658 deaths were associated with a capsize event.
80% of capsize were on vessels under 26'.
90% of capsize events result in death or injury.
More than 91,270 cases of melanoma (the most serious form of skin cancer) are expected to be diagnosed in 2018. (American Cancer Society)
The Boat Buoyancy Aid helps provide a solution to both of these life threatening problems.
Market position:
This product has a number of potential options in both the high end and competitive/budget market. This product is new without competition.
Unique selling position:
This product has never been available to the recreational market. The self-righting concept has been utilised in the commercial marine industry for many years.
Pricing strategy:
It is envisaged that there will be three size ranges all priced under one thousand dollars.
Value to customer:
This safety product will provide the customer with peace of mind and an increased chance of survival in the event of a capsize, along with protection from the sun. The customer will view the product as a professional level of safety and will be highly motivated to purchase.
Anticipated demand/Growth potential:
Once consumers are aware of the safety advantage of this product and they realize it is a safety feature that the commercial marine industry has enjoyed for years, it is entirely possible to see a Boat Buoyancy Aid on a high percentage of boats within a very short period of time.
*The American recreational boating market is estimated to be worth $36 billion in 2017. (NMMA)
Research & development (R&D)/innovation activities:
R & D activities will include but not be limited to refining the look and efficiency of the product and to develop further associated product lines.
Intellectual property strategy:
The product is patent protected. US 9815533, AUS 2016200614.
Insurance:
Appropriate insurances will be employed in a timely manner.
Risk management:
Ensure first to market brand recognition with associated high quality status.
Target market:
Owners of small recreational boats from 10 to 21 feet in length.
Approximate market size – vessels under 21';
USA 2017 – 8,900,000,
CAN 2016 – 6,450,000,
AUST 2017 – 900,000.
Marketing strategy:
SurviCap will actively seek a partnership with a marketing professional to assist in bringing the Boat Buoyancy Aid to market.
Production:
SurviCap is looking to partner with a manufacturing professional to ensure high quality and efficient production.
Market research:
A survey of 209 American boating enthusiasts found a 92% positive response to the product, 94% were likely to recommend to family and friends and 90% likely to purchase the product. The product price suggested for the survey was $990.00.
Copies of surveys are available by request.
Market targets:
A 1% market penetration in the first year of operation would indicate sales of 90,000 units for the United States, and 9,000 units in Australia .
Please note approximately 150,000 new vessels in this target market are sold in the US alone each year.
Customer demographics:
Boating enthusiasts including but not limited to; Fishermen, Divers, Skiers, and Family boaters.
*141.6 Million Americans participated in recreational boating in 2016. (NMMA)
Vision statement:
To introduce the Boat Buoyancy Aid into the recreational market with the aim of preserving lives and allowing amateur boaters better peace of mind when 'messing about in boats' with friends and loved ones.
Mission statement:
To provide all small vessel owners with an affordable and effective capsize recovery solution.
Goals/objectives:
To build a team to effectively market and manufacture the Boat Buoyancy Aid and achieve at least 1% market penetration in the first year of production.
The Finances:
With a 1% market penetration in the first year the unit sales would be in the vicinity of 90,000.
If we work with the mid range price of $850.00 the gross return would be $76,500,000 in the US alone.
SurviCap Pty Ltd will be seeking partners to assist with start up capital, production materials and facilities, and sales and marketing expertise.
Patent publications:
US 9815533
AU 2016200614
Asking price:
500,000 USD
500,000 USD
Great invention
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