Scott Denham Deadbolt Project
Executive Summary My name is Scott Denham. I am 29 years old and I grew up in Oregon. My background goes to early childhood, when I was very curious about finding out the way things work. As a young boy I would get watches for Christmas and tear them apart to see what was inside and how it worked. Later in life it was helping my father, who was a young engineer, tearing apart a transmission on a 1976 Honda Civic, CVCC, just to be around that. As I grew older I began racing motocross, and I was my own mechanic. I learned by practice what was inside an engine and how it worked. At age 18 I began chasing after adrenaline. The next step in my quest for a rush was skydiving. After a few years of skydiving I joined the industry working for Velocity Sports building container and harness systems for skydiving. I began coming up with ideas for new invention and dreamed of creating my own when that day came. I joined the army shortly after this and spent a few years in combat arms before deploying and eventually leaving the army. Upon leaving the army I came back to Oregon where I grew up to get an education and do something with my life.

I began dating a woman, who shortly after we began dating had her deadbolt picked on her door and a man gained access to her home. When we discussed the incident with the management at the apartment complex, she suggested a deadbolt that did not have an outside face with a key slot. We said ok, lets get this done. She told us the charge would be 100 dollars plus labor. I thought that was ridiculous! So I started brainstorming on how we could find the same safety devices for cheaper. As I bounced store to store looking for this product, it dawned on me that I could invent this for a couple dollars. My main-stream idea was simple and effective. Initially, I though I would do things one way and be happy. After this mindset hit I thought “wow, there are other women who would love to have this”. Within 3 hours of this idea, I began writing a patent to do what the major lock manufactures failed to do from the beginning. Create a device that could not be picked or tampered with for a home for under 10 dollars! That is correct, 10 dollars!

After writing the patent it occurred to me, the market for this product is not just a woman home alone. Its for anyone home alone who wants peace of mind. Not only is it for those at home, but for those in apartments, dorm rooms, and even the hotel you may stay at on a vacation or business trip. YES! You read that correctly. My device is portable. Have you ever been to a hotel? Have you locked the deadbolt in that hotel and locked the keeper? Did you forget to put the “do not disturb” sign up? Did the maid still manage to gain access into your room? I have! What if you could have a device that for under 10 dollars could do just that, without any complicated installation procedure? Something that would NOT damage anything in a room that you paid a deposit on. This is where ScottLocks come in. It is the deadbolt solution!

This design will revolutionize the way deadbolts are used worldwide!

So, how does this make money? I propose that I, Scott Denham, build a company and infrastructure to mass produce and mass market my device. I am building this as a sole proprietorship. My goal, is to build and market my product, or sell the rights for exclusive use to a manufacturer for the sum of $10,000,000 US dollars. With my prototype cost being at $2.82 US dollars, I suggest the retail price be at around $8.99 US dollars. That being said, I believe the cost to mass manufacture this device will cost approximately $1.50 US dollars. So how do I market a device like this? I begin with gaining seed capital to produce 1,000,000 units and have them ready to ship. I go on a TV show and begin with some kind of infomercial. The infomercial appears something like this:

A man goes on google and purchases a quick pick lock picking set for the sum of $20 US dollars. This man watches a YouTube video on how to pick locks as an amature. This man then goes to an apartment at midnight where a woman is sleeping. He uses his tool to gain access to her apartment in less than a minute, and silent at that! This man goes to the bedroom and finds her asleep. Fade to black, leaving the end result to the imagination. Then we show an “inside only” type deadbolt that retails from $40-$70 US dollars. We announce the cost of one of these devices, and show that you must alter your door, motel room, or apartment complex door to install this device resulting in a price of $100+ US dollars. We show my device, its simplicity, and the cost for only $8.99 plus shipping and handling.

The next scenario is the same thing on Facebook. We use “viral marketing” of an ad as such, to scare (and rightfully so) women around the country, to where they MUST have one. We also team up exclusively with home depot and lowes to sell this at the front of the store when you check out, with a video playing of what this invention can do.

Currently I have reached out to Rebecca Rescotte, the owner of CitiKitti, who began her business on Shark Tank. Currently I am awaiting for a non-disclosure agreement before submitting her the patent write up. The possibilities are endless as far as marketing. The overall Idea is to steal sales of deadbolts from the big players such as Schlage, Kwikset, Emtek, and so on. With this being said, I plan to dent their sales enough to make the exclusive ownership of the company I have just designed, worth a sum of $25,000,000-$50,000,000 to one of these companies, plus royalties for every unit sold.

Who might my competitors be? They ARE any company who manufactures dead bolts! Plain and simple, I want their market, and I want their money! The US has approximately 120,000,000 housing units available (2009 us census). These housing units DO NOT include hotels, motels, and dormitory units! If every home purchased 1 unit for $8.99 US dollars, this would be a $960,000,000 dollar nationwide purchase. As well noted, most housing units have at least 3 doors. (front, back, and garage). And we still have not touched dormitory units or motels!

Although I do not have current vendors set up, as I stated previously, through exclusive offers with Home Depot, or Lowes, as well as infomercials, we can set up vendors nationwide. I would be willing to have for the right price, US manufacturing in place, however, this is business. I am NOT opposed to setting up production in China or India, as for bringing greater profit to the table. My strategie would be to build a team of sales professionals and retailers all around the US, possibly internationally at a later time, for mass distribution. The bottom dollar is as such. I believe I can within one year of production, sell 2,000,000 units at a price of $8.99 US dollars with overhead (employees and manufacturing) of approximately $3.50 US per unit. This brings my profit to $5.49 US per unit times 2,000,000. First year sales estimate would be $10.98 million US dollars in the first year. I believe that as I stated before this WILL revolutionize locks nationwide. I believe EVERY home in America will own my lock withing 5 years!

My strategy is simple. I would very much like to retire, and sit on a beach in Belize sipping margaritas with my wife and go there in my own aircraft. This WILL be accomplished in one of 2 ways. Either I work hard for 3 years and make this happen, Or I sell this patent and take royalties for the rest of my life. The first option is wonderful, as I would be looking at hundreds of millions of dollars. That being said, I am not greedy. I would love to just make an outright sale and not deal with a headache of being the owner of a company, Just the owner of the idea.

Thank you for your time.

Respectfully,
Scott Denham