To me “shoebox” size is quite large for a beginner’s model. The typically suggested beginner’s casting kits like a Stuart S50, 10V or 10H, Clarkson, Reeves sould be smaller and you could get two or three of those in a shoebox. Though with modern CAd and pattern making methods it would not be a lot of additional work to offer engines in different sizes. I see this now in other types of kit where you can buy the same subject in several different scale sas all the supplier ha sto do is click a couple of buttons.
Likewise your price point of £500 is a lot compared to the above mentioned engines at just over £150each. Beginners will be wary of spending large amounts as they would not want to risk mucking up proportionally expensive castings.
I have written a lot here and in my build articles in the magazine about metric being the best bet for anyone new coming into the hobby so agree with that. However if you also want to market your kits at the experienced model engineer, then consider offering just a bar castings package as they will likely have barstock and can use whatever fixings and threads they already have tools for. Yes Reeves and Stuarts only do imperial designs.
What Duncan mentions about working with existing designs and suppliers is something I have already done, see my recent article about the Blackgates Clarkson Horizontal where I completely redrew it to suit metric including adding all the detail missed off the old drawings that a beginner would have found difficult to work out. They can now supply metric drawings and due to my article an build thread got several additional sales.
To attract a beginner you will also have to give them suitable guidance. All the established kits have many build threads and articles as well as a growing choice of instructional You-tube videos. At the very least a full build description with many photos would be needed and could be included with the kit in the form of a USB stick. You also need to get your designs out there just an advert is unlikely to attract beginners they want to see others have made it and are available to help with questions.
Having been involved with other kit suppliers designing new engines, drawings, pattern making and developing the build the main hurdle at the moment is finding suitable foundries that will do good quality small batch or even one off castings. The sure way to put anyone off is to sell them poor castings with defects. I assume you already have a foundry in mind as that would have been one of the factors in working out what your price point would be. I would keep castings to a minimum. Also don’t just design the first engine without thinking ahead, if future additions to the range can make use of the same or slightly modified castings like flywheels and cylinders then that reduces your costs.
Along with that do you have experience designing patterns? Things like Draft angle, minimum thickness that wil reliably pour, shrinkage, etc. Then there is the need to make master patterns from which aluminium or PU working patterns can be made and ideally all mounted onto match plates complete with gates etc as that will keep your costs down – loose patterns cost more to cast due to the labour involved.
You also need consider what equipment a typical beginner has and allow for that in your design. Will you assume they just have a lathe as old designs do. Or with benchtop mills being a lot more common will you assume they have the use of a mill and then what tooling to go with it.
Lastly from delalings with a few kit suppliers ther eis not a lot to be made out of it. If you start having to share your profits with another designer be that a one off payment or royalties with each kit sold then that is going to reduce what you get to keep for yourself. Out of that needs to come advertising, web site, stock, etc.