Previous Patents
Previous Products
Potential Market
As of 2019, there are approximately 308,500,000 people above the age of 5 in the United States. The average price for a quality desk falls between 200-1,200 dollars. Using the lowest value, our potential profit could be $6,170,000,000. With a market share of 0.5%, that value becomes 3,085,000,000.
Sources: https://www.census.gov/quickfacts/fact/table/US/SEX255219#SEX255219
https://priceithere.com/office-desk-prices/
Sources: https://www.census.gov/quickfacts/fact/table/US/SEX255219#SEX255219
https://priceithere.com/office-desk-prices/
Summary
Jack and I found our previous patents by going to google patents and searching up patents that were close to our idea. We used key words like removable desk, bed desk, and convertible desk. We found our previous products by just going to google shopping and searching products close to our idea. We used the same key words for this step also. We found our potential market by using 2 websites: priceitthere.com and census.gov. We used the census to see the amount of people over 5 years old. Then we used priceitthere.com to find the average price of a quality desk. We used this information to create our potential market. From prior solutions we learned that simple is the way to go. Most of the designs we researched were very simple and not complex at all. We also learned that adding additional features is very beneficial. We could add a cup holder or a thing to hold pens and pencils. One last thing we learned was we have to make our solution durable and use quality materials. This will allow us to make the best product we possibly can.