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“Smart Door” RFID Door Lock

“Smart Door” RFID Door Lock. Ryan Hoskin Prashant Patel Jacky Ho. The Problem. Opening doors can be inconvenient Handicapped Elderly Carrying items (i.e. Groceries) In the dark. Our Solution. “Smart Door” RFID Door Lock Uses Radio Frequency technology:

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“Smart Door” RFID Door Lock

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  1. “Smart Door”RFID Door Lock Ryan Hoskin Prashant Patel Jacky Ho

  2. The Problem • Opening doors can be inconvenient • Handicapped • Elderly • Carrying items (i.e. Groceries) • In the dark

  3. Our Solution • “Smart Door” RFID Door Lock • Uses Radio Frequency technology: • RFID provides encrypted, wireless connection • The lock: • Unlocks the door when user approaches • Locks the door when user is away • Key benefit: • Hands free functionality

  4. Value Statement “For anyone who finds unlocking/locking the door an inconvenience our product is a ‘RFID smart lock’ that unlocks doors, hands-free. Unlike traditional locks our product allows customers to lock and unlock their door securely without even having to take the key out of their pocket.”

  5. The Business Model • Strategy: • Focus on household niche market segment • Work with develops on new housing tracts • Key Aspects: • New technology to target market • Company Purpose: • To assist those who need help • To make life more convenient

  6. Uniqueness • “New to the world” technology • Hands free use • Extremely convenient • No direct competitors in market • Household vs. Corporate

  7. Marketing and Sales • Short-term: • Target Segment: New home, apartment & condominium developers/contractors • Sales Type: Direct sales to developers • Long-term: • Expand target segment to existing homeowners • Partner with home improvement stores • Home Depot • Lowes

  8. Management Team

  9. Competition

  10. Financial Projections Profit Income 500 Sales & cost (000 Dollars) Total costs 375 Breakeven point 250 Loss 125 Fixed costs Ratios Current Ratio: ~1 Quick Ratio: 0.8 to 1 500 1,000 1,500 2,000 Units produced

  11. Current Status • Current Activities • R&D • Finding financing • Generating marketing collateral • Finding suppliers

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