Originally Posted by Tellystar:
“I couldn't believe the cheek of those " inventors" with their kicking game, 4 feathers on a weight, cost 70 pence selling for £7. 99. They must think people are idiots!”
They aren't "inventors" I don't recall them being announced as such. They were on another business show "Be Your Own Boss" where they explained this is a game played in Vietnam which they have brought over here, there is something about that on their website.
As for the 70p price, it's an eye opener but from watching previous Dragon's Den pitches that seems what it needs to be in the toy/gift marketplace whether it was a UKick or a boomerang or whatever.
Dragon's Den hopefuls usually do an explanation that a product costs 70p, they sell to a distributor for £1, distributor doubles the price to £2, which the toy shops/department stores need to buy at to put it on the shelf at £8 inc VAT.
There's no money in it as the Dragons said. Even if they were able to double their money and charge the distributor £1.40, they would make on their container of 18,000 units £12,600, they need to take the salary for at least two people out of that and goodness knows what their business costs are. The Dragon's would never get their £60,000 back.
If it did become popular then the cheap pound shops will be onto it being able to buy direct from a factory for 25p, cheaper shipping because they have whole ships filled with hundreds of products for their shelves and the cheap shops take a smaller margin than a toyshop/department store needs. Just like they were able to do with "Loom bands" fuelling a craze. UKick is not a new invention so no protection.
I suspect people's main bugbear is the £3.99 postage cost on top when buying from them, in the age of Amazon people hate paying for additional postage. Ideal World TV shopping were trying to sell a twin pack for £16.99 plus £4.99 postage
here but they couldn't sell it and it's now "on sale".