Today I decided to tidy up some USB cables and make some Cord Tacos to keep them tidy.
It’s a simple recipe:
A short length if 50mm webbing
A length of shock cord double the length of the webbing strip
And a big button
Plus of course needle and thread
Use a small needle it easier to get through the webbing and bungee. Another tip, run the thread over a candle once you have threaded the needle. This makes the cotton stronger and also as the wax heats while you are pulling it through the material us serves to deal and lubricate.
If you want to go further and turn it into a cottage industry 5 metres of 50mm webbing will cost about £5 with p&p. 10 metres of shock cord about a tenner with p&p. And 50 large buttons about £5 again.
This recipe will give you enough material for around 50 – 60 Tacos. If you assume no wastage in the cutting process it would give you 62. The material cost including thread is £22. So the base material cost per unit is 35p, it took me 5 mins. to make one. So say labour cost on minimum wage is £6.70 and I can make 9 per hour that .75p for labour costs.
So each unit’s base cost less marketing is looking at £1.10. Add baggies and printed labels, 1000 baggies £4 and £20 for 50 sticky product labels works out to be 50p-ish.
So overall my product cost with product packaging cost is now £1.60 ish (forgive me for rounding errors and not searching for better material prices). So now I have 50-60 sellable units.
Now wholesale batches would be at 50 do that’s 1.6 x 50 which is minimum wholesale cost of £80 with no profit margin, so here I’ll add £19.95 to make it up to one of those magic numbers of wholesale batches price of £99.95 giving me 39p per unit profit (which also means that I would have £10 wiggle room for sweeteners and discount. Giving me overall a base profit of 19p per unit.
None of this is with scale or mass production. On this basis 500 units would give me just shy of £2 for approximately 55 hours work.
50m of royal blue herringweave 50mm webbing and 100m of 3mm shockcord is £82.02 from AceSupplies plus 625 buttons from amazon is 38.75. So the material cost for 625 cord tacos would be £120.77. So that would now be 19p per unit. Plus the labour cost of 75p now makes a unit cost of 94p. More labels reduced the cost to 30p, so now lets call that a base unit cost of £1.25, so by scaling the volume I’ve reduced base unit cost from £1.60 to £1.25. So a wholesale of 50 units at £62.5 plus the mark up to £99.95 would give £37.5 gross profit with more room for sweeteners and discounts.