January 5×5 Night
January 22, 2024 11:59 pm
The hospitality industry ($1.2T Industry Globally, $197B U.S.) has the most to gain from this idea. However, this idea also has applications in the Assisted and Independent Living Facility market ($99B Industry 2023), and even hospital and high end consumer market. For any given hotel, the average time to flip a hotel room is 27 minutes. One of the longest tasks is changing the bed. The average time to change the bed is 5-7 minutes. On average, in the U.S., hotel chains range from 50-70 beds (economy) to 300-500 (Luxury). For a large hotel, let’s say they have 350 rooms with a very generous ⅓ requiring bed changes per day. 350 rooms x ⅓ = ~116 116 x 6 minutes = 696 minutes 696/60 = 11.6 hours 11.6 * 14.11 (the average housekeeping wage U.S.) = $163.67/day $163.67*365 = $59,741.74 / year that would be spent on changing beds “There are 107,258 Hotels & Motels businesses in the US as of 2022, an increase of 0.2% from 2021” (Ibisworld). From initial research, hotels and assisted living tend to capex these expenses over years, however, some ongoing maintenance and support costs will be required and built into the business model. If we were able to charge $150K or less for the robot, we would save money for the hotel, and make the job easier for the staff they can hire, if they can hire anyone at all.
What I'll do with $5,000
1. $1,000 will be used with Michigan Law Firm to receive a patentability opinion 2. Based on patentability opinion, work with designer to develop concept and detailed renderings for further research with prospective customers. 3. Develop website and conduct “false frontend test.” This test will be used to gauge desirability and capture leads for letters of intent.