So… the epoxy resin product idea moves forward. Prototypes 1 & 2 (dry fly and telescope, respectively) are complete, installed on my Yaris bumper and looking pretty snazzy to my eyes anyway… The creation of a mold, the production of final product and the affixing to a vehicle all seem to be working out OK.

So the project is feasible from a purely technical perspective. I can make them.

Now the question is, can I sell them?

Or more precisely, can I sell enough of them to make it profitable?

So, that means it’s time to break out the Excel spreadsheet…

Interestingly it turns out that there’s quite a few different ways to look at this endeavor and call it success or failure…

I’ll just stick to a few.

Basically the material cost of one of these things turns out to be about a buck apiece. That’s a lot more than I expected, but to get it lower I have to both buy larger bulk amounts of casting compounds, and I have to get more efficient with my use of the compound. But at the volumes I am buying now, and the efficiency I am seeing today, it’s about a buck apiece.

Advertising in a suitable magazine will cost about $250 per month. Figuring my own labor is worth at least $15 per hour, and ignoring mailing costs (I know, that’s a potential profit source itself…) I would basically have to make and sell about 60 of these per month at $9.95 apiece to generate enough money to fund the next month’s purchases, buy next month’s advertising and pay for my own labor.

So I’d have to sell more than two per day on average to make any long-term profit.

Then, of course, there’s the potential problem of reaching a saturation point with the market to deal with…

Hmm…. selling 60 of these a month is something that seems remotely possible if they appeal to folks…

Basically it will cost me about $250 out of my own pocket to see if this could actually work.

To be a “success” all I really need is to make enough to fund my molding and casting hobby, which would easily be done for $100 per month. To see a clear profit of $100 per month would mean selling 70 or so per month…

What do you guys think about that?