Product idea made from scrap coming from existing job

[chusav]

Hi all. This is my first post although I've browsed the forums for years. The shop I work at runs a family of parts (same features but various overall lengths) on Tsugami Swiss machines, high volume. If you're familiar with Swiss, you know that there is a remnant of material left over from each length of bar stock, approximately 8-10". The owner has asked me to make the same part out of the remnant, in multiple operations on our conventional lathes since it's basically free material. It's expensive material and he doesn't want to just send it to the scrap man as he doesn't think he'll get the value (so we have multiple crates in the warehouse full of remnants). I've done this but it actually ends up costing us because the multiple op's take way too long and tie up the capacity on those machines. So here's the thing- I have an idea to make a totally different part (that's already on the market) using these remnants. Again, we're starting with free material. We're a job shop so this would be something we'd market and sell as our own product. We'd need to make another component to go with it on the Swiss and sell it as an assembly. How should I approach the owner? This could be very profitable - should I ask for a percentage or settle for an atta boy? Thanks in advance.

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[deadlykitten]

you should be rewarded, anywhere between a "thank you" and the price of the saved material ... with a bit of luck, maybe even more

so, go negotiate / kindly

[chusav]

Thanks for the reply. Stay safe.