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Whoopsies I was banned!!!
Join Date: Sep 2005
Location: Trying to Escape from FLA
Posts: 4,593
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$250.00 would entirely depend upon what it is and what you in the end claim it to do. Furthermore before a pricetag is assigned, one needs to know what their cost(s) are to manufacture such tool(s). Setting the sellable price of a product is part art, part, science, and part snake-oil.
While your lifetime no BS guarantee is a noble one, is it the correct one? For example, if I understand you, your product(s) are built like brick ****houses. Thus they should never fail. However not if but when, how is your company going to handle it. Imagine the end-user. Your product breaks, they are on a critical job where time is everything. They don't have the time to do the whole go down to the store and exchange it (presuming of course the store has one in stock). Or the end-user is on a job in a remote location. How are you going to honor the guarantee in such a way that the end-user is in no way put in a pickle? We're not talking about many end-users here. You cannot afford to loose any of them due to bad experience(s) with the product.
The guarantee part of any product is no straight forward claim. There is much thought and science behind it. Many a company has been dealt a good punch, some brought to their knees because of the guarantee assigned for their product(s). If I recall correctly, though I can't remember where I saw it, Sears has brought many a tool maker to their knees because of the guarantee (which they hold the tool maker to) on the Craftsman series hand tools.
Please don't take the above as discouragement. I am merely pointing out things that need to be addressed. This is all part of the process. Keep working your idea. It will be worth it!
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