The cost and time to make things

So last week I launched sales for a limited edition of the Good Night Lamp. This is both an exercise in pig-headedness and a suicidal financial exercise. What prompted this? Next year will mark the 10th anniversary of this idea. There’s only so much time you can spend trying to turn lights on and off, but in those ten years, I’ve learnt a lot about the conditions that need to take place in order to make things.

So I’m making them with an M2M partner Eseye and Tom Cecil who has been making our prototypes since mid-2012. Noone else.

They are retailing for £279 which is shocking some but the truth is that making small batches of things costs a lot more than people think, especially when there’s wood involved which is why we’ll move on, if those 100 sell, to cheaper materials. Why sell 100? Well mostly to live up to expectations, PR during all those years, and for myself as a designer.

Financially, it’s a ridiculous exercise in a way. The average product on a John lewis shelf costs 25% of retail price to make. Retailers usually take a 50-60% cut to place the product on a shelf. This set of lamps is costing between 86% (for EU customers) & 96% (for UK customers) of the retail price in costs and doesn’t include any assembly time. Here’s a handy and honest breakdown.

gnl_100_profits

It’s pretty silly really, but I think they’ll make people happy and work really well. Yes I’ll be assembling them myself or with friends probably, but hey I started Tinker by selling Arduinos in the front room of a flat in Hackney in 2007. Been there, done that. It might become a collectable item, who knows. I’ve got 36 sets left to sell on that batch so tell your friends and head to the website for more details.

Published by

iotwatch

Founder of designswarm & the Good Night Lamp. Ex CEO of Tinker London.