Franchise a specific design, initial fee $5,000 and then 20% of sales.
Licensing Agreement $20K/yr or 5% of sales whichever is higher.
Patent Purchase $250K firm, includes everything related to the business.
Included in sale:
Inventory valued at $50,000 retail
The patent title is ''Planing Floats with Lateral Motion Control''.
There are presently 4 designs available that utilize US Patent #s 6,874271 & 7,213,363
BulletBobbers, DualFins, Prowler Planers and an unnamed Top Water Frog lure.
1. BulletBobbers are plastic injection molded and sonic welded in China but the molds are worn out. The hollow plastic BulletBobber design can be franchised but a new manufacturer is needed.
2. DualFins are made using water jet cut pieces of foam sheet supplied by a local foam company and then built by my son using common shop tools. He is a good worker and would be glad to be your supplier.
3. The Prowler Planer prototypes were made and painted in China using EPS (Expanded Polystyrene) but we drill the holes with drill presses and cut the slots with a band saw. Now that the design is set it makes sense to go out for new quotes with holes and slots molded into the body. There are several material options for molded foam i.e. EPS, EPP or PU. The Prowler Planer incorporates much more then simply flipping direction with rigging options that can benefit all fishermen.
4. I had a couple prototype top water frog lures made of polyurethane foam that you can steer left or right and flips direction when given a little tug but haven't written a spec to go out for quotes.
My son and I run the business entirely from a 20' x 28' space with room to spare.
With a strong utility patent you will not have competitors. There are over 200,000,000 fishing floats sold annually and the patent by reason of added functionality could quickly and continually gain market share. with a with a good marketing plan.