Monday, February 6, 2017

Business Idea Cost

I have not fully liked all of my ideas that I have came up with but I came up with a new one that I will do for this project.

This new idea is an identification system that would help out the police primarily, but also other security departments possibly as well. My idea is involved with the internet of things (IOT) and my idea is putting a chip in alcoholic beverages, either inside the can/bottle, or epoxy the chip underneath and this will be used to store a simple code. With this chip, I'd create an app for the police departments to use which will use bluetooth to track these chips. If a car goes driving by and a cop scans and see's these chips, he can follow and pull them over. The data on these chips might consist of, temperature change to see if the alcohol beverage is open / a string programmed in to give a code on what the beverage is, just from the app.

As far as cost goes, I would patent this idea of tracking alcoholic beverages. I would then go to beer companies (Budweiser, Budlight, Coors, etc.) and offer my technology to their manufacturing headquarters. I would want a royalty for every beer that has my chip in them. I think a 1 cent royalty would add up very quickly because the alcohol market is a big market. I would then offer my application to the government, but more specifically police departments. I would offer the mobile application at around 40$ per police officer. This app would constantly be updated by my software team and would be instant in finding chips because it would go straight from the app to the chip, no internet needed, only bluetooth.

I would be open to putting my chips in every alcoholic beverage company if they were interested, offering royalties as my main way of making money.

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