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Leslie,
While it appears you have gotten the info you need, I still want to tell you what a clever product I think you have. I can absolutely see it on a store shelf. It`s one of those things that seems to make so much sense so why didn`t it previously exist, you know?
Best wishes and much success!
Hi Leslie. Not sure if it`s still timely, but I`ll throw in my two cents. I would be a little concerned if my margins were so thin, in fact up-side down. Even for a start-up. Makes it hard to support a business model if you are depending on very large volumes to drive cost down. Even going to China is difficult. Typically 40` or even 20` containers and an extra 4 - 6 weeks on the water alone. How many tens of thousands of charmers would it take to even fill the shorter 20` container. Unless you know someone who will let you fill a small section of their container. Several times, when under a crunch, we have air freighted a pallet, but there`s that extra cost. You don`t want to do it very much.
Given that, is there a different material? Looks like you place these in the food before you throw them on the grill, so plastic is not an option. Or is it? They do some amazing things with plastic these days. Of course, these super materials have a higher cost, but I would sure raise the question with a material suppler anyhow. Other materials?
But more importantly, I`m sure you have looked at it from all angles and standing on the outside, but is there value in the product that you are not leveraging? Therefore a higher pricepoint? Always sell on features and benefits. It`s more fun!
Best of success
) I`ve got a grip on the numbers and have come to terms with them. Eventually I will have to increase the wholesale price, but with stainless steel products, people are coming to expect that. Unfortunately plastics are not an option as Grill Charms(tm) are right on the grill, often times touching the grates. I`ve looked into every metal known to man, and I keep turning to Stainless. Thank you for giving me things to think about from an objective viewpoint. I love hearing any and all comments and suggestions. I`ve done substantial primary market research and $19.95 seems to be the magic number that people would be willing to pay... That was last year, do you think I`m missing out on a higher pricepoint?
Way to go! That`s the way to think about adding value... and therefore higher pricepoint. Any other markets to "leap" your product into besides food?
Doug
Any other markets to "leap" your product into besides food?
I hear the cool kids all have grills on their teeth ;~)
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