To Patent or Not To Patent

The answer is simple depending on what you plan to do with your idea.
If you want to bring it to the retail market then I would suggest you spend your money on product development and NOT on a patent. The protection you will get from a patent will do you no good if no one wants to buy the product and the time and money spent waiting for the patent to be approved will be better spent making prototypes and getting costs for the product.
If you are looking to LICENSE your prodcut and not go into business for yourself then you definitely need to get a patent to protect yourself once the product is ready to discuss with potential partners.
Typically you will receive between 3-5% of the wholesale price of the product as a licensor from the licensee.
Another alternativ eis to be a vendor to a licensee and make product for them and potentially make more money than a direct licensor only.
In either case insure that any contract between you and the licensee has a performance gusrantee and an out for you if the licensee is not hoolding up their end of the bargain.
In going ahead with your product do your research on if it exists and then layout a plan on how you want to go to market.
Be wise on how you spend your money because you can go broke otherwise.