Faraday Frames Premium made-to-order anodized aluminum sunglasses
Problem• High price for premium quality polarized
sunglasses.• Customers pay for brand not material. • Solid colors in plastic look cheap.• Very low customization options.• Luxottica has a monopoly over the brand names.
$LUX• Brands keep trying to differentiate with wood
Solution• Made-to-order anodized
aerospace aluminum frames with a patent pending magnetic hinge.
• Fully customizable ordering process through online design studio.
• All sunglasses are polarized• Frames start at $50• Temple arms start at $24• Total starting price of $74
Design
• We wanted to keep the design and number of parts as low as possible.
• By using a cylindrical magnet we are able to effectively eliminate the need for a hinge.
• We’ve also refined the design so the arm and frame meet at a 45 degree angle giving a cleaner look
Design
• 2 frame Styles: LAX & JFK
• 2 more frame styles designed and tested
• Temple arms will fit every current and future frame style
Current Revenue
• Officially launched on April 1st.
• 196 reservation holders.
• $15,768 in sales. ~$80 per transaction.
• All sales are pre-orders.
• ZERO marketing dollars spent.
Cost Breakdown
• Tooling
• Mold of LAX Frame - $6,000
• Mold of JFK Frame- $6,000
• Mold of Arms - $3,000
• Mold for rubber nose tips - $1,800
• Mold for ear tips - $2,000
• Total = $18,800
All figures based on a small batch of 2000 units
• Price per unit
• JFK Frame - $16
• LAX Frame- $16
• Arms (One Pair)- $8
• Rubber tips - $1.50
• Polarized Lens (One Pair) - $5
• Packaging - $.50
• Total= $31
Business Model
• Primary revenue from direct to customer model.
• Custom retail packaging will be made for stores.
• 2.0 of site will have a design studio allowing customers to design custom pair of sunglasses.
• Continue with recurring revenue when customers come back to order more temple arms. Possible subscription service for temple arms.
• Provide custom laser engraving for additional cost or bulk orders.
• Offer accessories. (Sunglass clean and upgraded carrying pouch)
Market Adoption
• Events
• Partner with Cuttle for college events where they can see our products in person.
• Attend streetwear & surf/beach trade shows.
• Partnerships with artists, brands, and celebrities.
• Sexy captivating photos of the sunglasses.
Competitive advantage• Manufacturing and sourcing abilities in China
• Strong partnership with skilled engineering team located in China
• Magnetic hinge allowing for seamless swap of temple arms
• Patent pending design focused on the “hinge”.
• Small outsourced team able to be cost efficient
• Passion and hustle