Product 1 Breakdown

The good news about sharing your journey with others is being able to actually stay organized for not  accounting purposes. I’ve written down all of my costs including my sales price and ROI.

I’ll try and just keep this one page updated for this specific product so we all don’t get confused.

12/19/2014

The Introduction told you all about the newest shipment I was waiting on. Because I needed the same colors as previously (plus new colors) it took a few more days.

1/9/2015

The 100 shipment just arrived this week. My packaging pieces are still arriving, and will be here by tomorrow. I will assemble this weekend. I expect to ship out on Monday to several warehouses, and expect it to be available for sale on Thursday 1/15/2015.

Because I have a pretty good hunch, I’m going to go ahead and buy more. I’m talking to three different factories (one being the current one I’ve worked with) to see if I can get better pricing based on volume. I’m also researching better packaging as I want to become the leader in this product if I move quick enough.

Meanwhile, the product has no reviews and I’m trying to learn how to work on this. I’m considering doing a giveaway on Instagram to help with this.

I’ve put a “coming soon page” on the website and going to rework my email capture. I expect to only have a page for links to social media, contact, and wholesale inquiries. My additional goal for this product is to offer wholesale, and likely exclude Amazon from a resale avenue. Again, still deciding.

I expect the 100 trial should be sold out within 30 days of warehouse arrival. It’s a conservative expectation of selling 3 a day. If I sell out of the 100, it will gross from $2200-$2500 depending on my final price point ($22-25). My net will be $1000-$1200. This is based on $6 COGS (estimated, with packaging and I’m hoping shipping too). I hope to make no more than one or two runs where I assemble it myself. After that it will be taken over by another company to become completely hands off.

I’ve got lofty goals for this product but if all goes well I expect to scale up on this product quickly and it will be the first successful product of 2015.

Trial No.
Quantity
Item Cost
Packaging
Sales Price
AZ Fees
Profit
ROI
1 10 5.99 .74 24.99 6.32 11.93 1.77
2 30 7.77 .75 24.99 6.32 10.15 1.19
3 100 3.90 1.36 24.99 6.47 13.26 2.52

2/1/2015

Read all about the January breakdown of Product 1 at this link. I’ll continue to keep this post update with all of the exciting happenings of PL.

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