For every e-mail I receive, I have to assume there's a dozen of people
with similar feelings that did not respond. Therefore, I felt a need to
share some of the responses I have had and my feelings about them. So
far, those that have responded that already have a TR running with my 4
cylinder version, want one for their 6 cylinder TR, all are pretty much
saying they'll buy the gasket regardless of cost, though, of course,
they think near $60.00 may be prohibitive for others. Another grouping
tried too hard to compare the two gaskets in terms of proportional
differences, and therefore thought the price should only be like $35.00
to $40 tops. Another grouping can only see beyond the price of a cork
gasket which sells for around $5.00. Therefore, the price of this
gasket should have some direct correlation to the cork price and how
long that particular person seems to think a cork gasket lasts, as in 4X
the price, etc. etc.
Let me say something here...
Triumph is a dwindling market. The reason so many unique parts have
become available over the years for our cars is not because of
entrepreneurs, it's because of enthusiasts with an entrepreneurial
spirit, there's a difference. I believe my profit on the TR 2-4A gasket
has come down to less than $1.00 an hour for my time. I don't really
want to think about how much less. It's a labor of love. If I was being
a true entrepreneur, I would have chosen a more profitable venture. At
the very least, if in 1997 I had invested in the stock market, the way I
would have invested, I'd be better off today, even with the recent
crash, rather than starting that gasket and this side business. Yes,
when I sell a gasket, it's pocket money that I can finally use, but
behind every gasket sale is hours and hours of my time. I have to make
these gaskets. I have to promote these gaskets. I have to process
orders. I have to ship these things. The hours add up, it's pathetic.
Now I'm making this 6 cylinder gasket. I haven't even begun to update
my web page or to put together the new "directions" and packaging.
(This gasket will require special packaging, because unlike it's
predecessor, it will need to be shipped flat.) I haven't even begun to
put together an advertising campaign. I don't have any photographs.
Nothing has been scanned. Materials will need to be purchased and I
can't just buy a little to get by, a price break doesn't occur until I
buy a lot. I just don't know how to convey the amount of work required
to get a product from one's mind to the market... a small market at
that!
Meanwhile, I need to consider that my product is, in fact, too good.
There won't be repeat customers a year from now. After 4 years, I have
only had a couple repeat customers, and that's because they admit to
damaging their gasket through mishandling. Other than that, people are
still using the gasket. It lasts a long time. Sure, one day, some
day, a second round of orders will start to filter in, but it's way out
there on the horizon. This is why light bulbs still burn out so fast,
batteries don't last long, and tires go flat. Those guys know what
they're doing!
The market for these cars is limited, and only so many people are going
to be willing to replace a part with a more expensive version, when they
were brought up with the idea "If it ain't broke, don't fix it." It
only makes sense. Not everyone is going to buy this gasket. Sales will
fall on a bell curve, sales will reach a certain peak, then sales will
dwindle to next to nothing until many many years down the road, when,
perhaps, the first gaskets finally begin to wear out. Predicting what
the bell curve will look like is risky business!
What this all comes down to is pricing. Yes, up to $60.00 may be what
is necessary to cover the myriad of costs involved with this product.
To those of you that picture in your mind a groove in a slab of some
material and a few dollars of silicone... it doesn't make sense...
then I'm sorry, you just haven't faced the big picture before. There
is no "make it up on volume" here. There is no volume. Volume is
100,000... maybe even 10,000, but not under 1,000 units over years. I
am hopeful that I can keep the price in the $40-something range, but
while I'm in this side-business as a hobby... I have the same concerns
as the next guy, like making a living... having a house one day. Kids
would be cool. My time has value. I take a great hit concentrating my
efforts on a hobby invention instead of a purely profit motivated
venture.
If I must charge $60.00 a gasket to make this whole venture remotely
worth my time, and to assure that I won't have to carry the weight of
the initial investment for years, than that's what i'd have to charge.
I have donated gaskets left and right to racers and to club events. I
discount my gasket occasionally to those around me... such as the
newsgroup. The one thing I will never accept is being accused, even
remotely, of gouging. I would put the molds through a bandsaw and
never look back if I thought that was an underlying feeling amongst what
I thought were my fellow enthusiasts.
No doubt, this gasket is a luxury item. I never suggested otherwise.
Cork does work. It has a way of leaking that can be very annoying.
Replacing cork can be a chore (scraping sealants,etc.). Avoiding engine
maintenance (checking valves) because of human-nature (wanting to avoid
replacing the gasket!) can be costly. Subsequently, to get a gasket
that may possibly be the last gasket one will buy for many years and
does away with all the above, may be attractive to some people, but it
would come at a cost. I had to develop some new technology not found in
the earlier gasket to overcome problems presented by the small surface
area and extra long length of this gasket. It's an improvement not
needed on the shorter 4 cyclinder, but required for the 6. This adds
costs.
This invention is a product of my enthusiasm for Triumphs and their
owners. I don't even own a 6 cylinder TR!
--Justin
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