Did you search for a business plan for invention? You're in a unique predicament because business plans for inventions are not easy to categorize. There's no simple template you can follow or surefire advice about how to complete the business plan correctly. Because each invention is unique, so too will your business plan be. Does your invention piggyback on an existing concept or product? Can you furnish schematics, drawings, photos, or other collateral that can make it obvious to the reader what your invention accomplishes? Considerations like these are important, especially if you're presenting to wealthy individuals who may not be savvy about your industry. Also think about the following topics:
• What industries will benefit from your invention?
• Can you measure the impact it's likely to have, by market sector?
• Will there be marketing required for your invention?
• Are you seeking to sell royalty rights, or license the technology?
• Is the primary purpose of the plan to obtain patent protection?
• Is it possible to estimate the likely revenue that you could derive from the invention?
If there is a quantifiable way to present financial data for your invention? You should create a five-year pro forma, if possible, that highlights the costs you'll encounter trying to launch the invention and weighs those against the possible returns generated by licensing or sales. The financial model should offer an estimate on break-even and the potential ROI an investor could get if in fact you need funding to get the invention to fruition. If you need to talk to a business plan consultant about your invention and what it might look like described in a business plan, turn to MasterPlans. We have written business plans for dozens of specialty inventions with no precedent. Call us at 877-453-2011 to learn how we can help you.
If you are ready to go, or not sure what kind of plan you need, fill out the form below and we'll call you.