Estimated Manufacturing Cost: The ideal situation is to contact manufacturers to get a price quote of how much it would cost to build your invention. But this can be difficult if you don't have exact specifications. The other suggested general rule is to divide your Suggested Retail Price by a factor of 4. For example, if your suggested retail price is $80, then your Estimated Manufacturing Cost is $20.
With unemployment continuing to rise, home prices falling due to a surplus of inventory, and small business lending at a standstill, this recession doesn't seem likely to end soon. The recovery will be slow and Americans will certainly not enjoy the prosperity of a few years ago for a long time to come. It's not just economists who think this way.
Starting a business, whether online or offline is not exactly easy. There are so many things to think of and so many things to do. You have to have enough resources, a good venue, a market to capture and enough workforce to start with. And as if you need more, you also have to worry about licenses, complicated paper works and other permits.
Detailed Description: This is where you describe the main parts or components that make up your invention, how your invention works or what it does, its main features, and method or intention of use. An example of main parts may include a container with lid, a motor for spinning, etc.). Examples of main features may include dishwasher safe, automated functionality, ease of use, etc. And, method of use examples could be: step 1, press red button to turn on, or pull white knob to make it move.
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