I thought that I would retail the machine for 1.5k
So after I did, I decided that... I want to work on something even better, and for the last year I've been working on another project. I was a SWE before, so it was software.
Anyhow, I'm now faced with a decision to pay for the full patent - 3.5k€. I'm 20, so for me that's substantial cash. I have been full-time on payless entrepreneurship for 3 years, so that's half of what I have.
So, lads and gentlemen, technically this is a project that can easily make hundreds of millions for anyone who holds it: the mass-manufacturing price was estimated to be €450 (I really tried to optimize it), so that's 2/3 net excl tax.
But then, I'm doubtful - I have never actually manufactured the device. Plus, the latest version that was actually small needs 1-2 months of polishing. And will anybody even purchase it? From companies. Of course I had a great feedback from potential users.
I'm thinking of going to electronics companies like Bosch or similar to license, though... I don't know. It will take time, and for me, I'm working on something else.
I'm attaching the text for the patent application above. What do you think? Note: I've since redesigned the machine to be 5x smaller by removing some unnecessary components, though the patent is still valid.
There is a competitor company, thermomix.com that makes $1.9bn annually selling a device that can do 3x less than mine (can only mix automatically) and they also sell it for 1.5k. chefee.com has similar functionality, but their stuff costs $30k and takes an entire kitchen. So I'm both better and cheaper.
Cheers.