Chase Hoyt
Los Angeles, CA (USA)
Role(s):
Founder/Owner/Principal
Jeroboam Industries, LLC
Find More Startups
Startup
Location:
Carson City
Industry:
Retail/Clothing
Year Founded:
2006
Number Employees:
1-10 people
Description:
WineDoctor: patented wine device company seeks $200k for production.
This is an opportunity to bring the most superior personal wine saving tool to market, while also making enormous profit.
The Size of the World-Wide Wine Market
Our principal competitor is VacuVin, which sells over a million of its wine-saver kits per year in the United States alone. Its revenue from those sales total almost $20 million annually. Another competitor, Metrokane, reports that its annual sales of similar inexpensive plastic pumps and stoppers, range from $5 million to $10 million. A third competitor, PEK, reports that it sells upwards of 10,000 of its Wine Steward kits annually -- for $99 each.
Consider that the admitted wine consuming population of the United States alone is 57,000,000. Hundreds of millions more wine lovers populate South America, Europe, Asia, Australia and Africa. The potential market for wine preserving accessories is enormous, and growing.
The Problem with Sticky Pumps and Leaky Stoppers
In 2006 our managing members, Robert Hoyt and Chase Hoyt, father and son, created a unique wine bottle stopper that cannot let air leak back into a re-sealed wine bottle. The need was there, because no stoppers on the market created and maintained a true seal. Within minutes to hours of “sealing” a wine bottle to preserve left over wine, competing stoppers let air leak in, spoiling the wine. The Hoyts have invested over $148,000 to develop their unique new stopper, the “Intelli-Stopper,” from conception through engineering, testing, patenting in the U. S. and China, and the production of working prototypes.
The wine bottle stoppers and air evacuation devices available to this huge market are made of low quality plasticized materials (in the plastics industries often called “pond scum”). The stoppers leak air into a supposedly re-sealed bottle. With repeated use, the air-evacuation pumps swell, stick, or stop pulling a vacuum altogether. These products routinely fail after an (often short) indeterminate time. Consumers purchase equally unsatisfactory replacements because nothing better has become available. Until now.
We seek funding of $200k to go forward with operation and production of our patented new wine accessories.
**We have our business plan and cash flow sheets available upon request**