Previous Patents
Automatic Plant Watering Device
Self-watering and fertilizing pot for plants
Automatic Watering Apparatus for House Plants
Existing Products
Click and Grow Smart Garden
Self Watering Plant Glass Bulbs
Plant Self Spikes System with Slow Release Control Valve Switch
Potential Market
Our potential market would be people who enjoy having house plants, but cannot remember to water them. About 27% of households in the United States (33.1 million out of 122.8 million) participate in indoor houseplant gardening. On average Americans should buy 15 houseplants each year, so therefore, the Total Available Market is 496.5 million (33.1 million * 15). If we received 1% of the market share the first year we would sell 4.965 million products sold at 25 dollars a piece would earn us 124.1 million dollars.
https://www.almanac.com/clean-house-tropical-plants#:~:text=The%20NASA%20studies%20on%20indoor,square%20feet%20of%20floor%20space.
https://www.almanac.com/clean-house-tropical-plants#:~:text=The%20NASA%20studies%20on%20indoor,square%20feet%20of%20floor%20space.
Individual Summary
This week Lizzie and I wrapped up Part A and Part B! We are working so hard to stay ahead of schedule so we can hopefully have more time when we need it (building the prototype)! We have been working very well together to get all of our work done and well. We completed the previous patents and existing product research very quickly by splitting it up and sharing our progress with each other using google patents. We spent some time trying to research and develop our potential market statement, but I think we got it! We are both very excited to move on to our next stage in the project and I for one am very proud of our progress so far! We will continue to stay on track and ahead of schedule so we can have the best opportunity to be successful!