Why is Everything So Damn Expensive
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- Опубликовано: 28 сен 2024
- why small businesses fail and why we have so much inflation
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Brock, Thank you for this video. When you develop a product that located in a dangerous area of the tractor you have many cost before a product can be sold. For example Patent Cost is $$$$$ plus a long time waiting. Components to build the product $$$. Having the components tested by a certified metallurgist $$$$. Destructive testing $$$$$. Insurance $$$$$ PER YEAR. We are having them built then heat treated now by third party $$$. We have been selling these since 2021 and have not broke even yet. Insurance is the most expensive component in my product.
I’m glad you are ok with me referencing your product in this video
Talking a product to market is not easy or cheap
This is a great video. I wish you luck in your business!
@@RockhillfarmYTyou did a great job coherently explaining the whole experience. You obviously have lots of experience in this area.
I am ordering mine today!
@@tarzan30809 awesome!
I’m a small business owner, with three employees. Between payroll taxes, income tax, insurance, workman’s comp, and self employment taxes, I end up making the same as my employees. On top of that, I have to deal with all the hurdles, headaches and stress of what it takes to run said business. And, I’m working the same amount as my employees everyday. I’ve also got 4 young kids. People think that being a business owner is all fun and games, and that you get rich doing it. That’s not the case at all for most business owners.
It can be fun and games if you are like my previous employer....not paying his taxes, workman's comp, unemployment insurance, etc....and pulling money from the business to buy his toys with.
Yep, all the behind the scenes stuff of running a business is quite extensive....
@@wildbill23c I agree, some people treat their business as a piggy bank. I’m talking about those people that are responsible, even to their own detriment.
As for this specific product: it’s a high-risk product. If it fails, someone could get maimed or killed; and then being in the US, they’ll sue you. Insurance for that is not cheap. The Chinese don’t have to worry about that.
Very well and accurately stated, everyone wants to buy made in America products but nobody wants to pay for made in America products. Everyone wants a pay raises every year but screams when they have to pay for quality products !!!
I look for everything saying U S A MADE...I'm poor..but will support U S A FIRST
Great video,was in construction business for 41 years. Closed my business because of my two partners .Uncle Sam and the insurance companies.Just couldn’t fight any more.
Yep! I agree. its marketing. Everyone now says "Free Shipping" but in reality its all factored into the bottom line already and gives the buyer a feel good moment like they getting a deal. Hence you still have to shop around to compare those without free shipping to get a true deal.
Manufacturing and selling a product is much more expensive than selling a service. I sold a service. I had my own plumbing business for 20 years. I was in demand. I had what I like to call free work. I almost exclusively worked for contractors as a subcontractor. It's free work because they find the job, sell the job, bid the job, and design the job. They deal with the customer, and all i have to do is show up, do tge pluming, and then get paid by the contractor, that part is very important.
Sometimes, I would work directly for customers, and my rates were much higher because so much more went into it.
My contractors loved me because I was very good and also very cheap. But, they would always tell me to hire people and expand my business so that I could keep up with all the work they had. I never wanted the headaches that go with having employees. My response to them was always, "if i do that, then I'd have to raise my rates substantially." They would drop it... for a time.
Don't take it to heart when some clown says there are $25 of materials to build that, they clearly have no realistic idea. Thank you for being open about your own experience. I must admit that I like to buy something at a cheap price, but I generally prefer to buy good quality produces (that last longer) at realistic prices. I live in New Zealand and we have always paid more for good because we are an isolated small country. Many farmers and food producers sell their products overseas to make more money, and we import cheaper food to be sold domestically. A lot of our food has had big increases with my average grocery bill up at least 50% in the last three years. The price of fuel is high and fluctuates constantly. Our insurances and rates (local taxes) also increase by big margins. All this keeps inflation high and means I am struggling more now than I ever have. I don't see this getting better in the near future so now I am looking for a job that pays more. Sorry for the rant, keep up the great videos, and keep being the nice guy who helps others.
People who have never been through the process of a product development rarely understand how to actually calculate cost. I once was a partner in a company that manufactured circuit packs for telecommunications equipment. The cost of a typical circuit board assembly itself was only $128. Our selling price for those assemblies was around $5000 each. Add in warranty cost, shipping and return cost, insurance for employees, building rental, utilities, employee wages, manufacturing tooling, electronic test equipment, training, burn in equipment, FCC testing requirements, packaging, labeling, user manuals, tech support, and finally a profit margin. Before long a product people think only cost a$128 turns into a product that actually cost several times that.
Excellent video, well explained. Time time time, taxes, regulation, legal expenses, accounting, other paperwork and record keeping, lead times, deadlines, logistics, packaging, shipping, wharehousing/storage, dealing with problems, communicating with people, accidents and losses, insurance, costs costs costs, and you get paid last... It was worth watching 10 minutes of RUclips ads for this 20 minute video. I'm sure it took you more than 20 minutes to make it. Thanks Brock!
Whenever I had my first company I really then realized the complications of things just as your talking about.
When folks started buying cheap and not being educated on purchases it really made doing business hard, competitors selling the cheapest materials and I sold the best I could get, that wasn't what the consumer looked at, and while I was still 2/3 the price of what the product commanded elsewhere, my competitor was 85 percent what I charged. I was making less than they were, but in 4 years their product had to be replaced.
I have vehicles out there with my materials on them still today and I closed my doors in 2012........ I saw a work van with my material on it and the van was falling apart around it. The material still looked great.
It makes me smile but the hardship is what many don't see, and to this day when I hear someone complain on a product, or what ever the case may be, I always say, buy it or don't, heck, go make it, it's up to you.
We impact what we can buy in so many ways.
Yes. Stupid consumers who only look at the price of the product and aren’t able to distinguish quality product from junk are a big challenge for everyone in retail sales. I tend to pay once, cry once and buy mostly on quality. But, unfortunately most retail consumers won’t do the research or are incapable of doing the research necessary to distinguish quality from crap. It ends up costing them more in the long run but they can’t see beyond today.
About the only solution if you want to sell a quality product is to design a product that you can sell to commercial customers who have the staff expertise to tell the difference between yours and the low-bid stuff. And patent it.
Very well said (we impact what we can buy).
Good video Brock. Im a small business it gets so frustrating be in business with taxes and insurance and fighting with customers over prices. I am not wealthy. 99 percent of Americans have no damn clue how business’s are run and how much it takes and costs.
I've been the person saying to people for years: credit cards and point schemes and rewards cards: make everything you (and everyone else!) buys more expensive. You hit the nail on the head here Brock. Those costs get spread into EVERYTHING and EVERY product and service anyone buys.
Part of the equation is also consumer expectations; without a live support phone number, costs go down, meaning products can be sold for less. When people buy a "locally made product" they expect it to come with white-glove service, yet when purchased from half way across the world absolutely zero support is perfectly acceptable?
Nothing is cheap anymore. A year ago I had some excavation work done on my property. Quotes I got were around $125-150/hr. I just got quotes for more excavation work to be done and all the quotes are $375-425 /hr
I am proud of you Brock. Seriously, one of the best videos you have done. Keep up the good work!
Really a great presentation Brock. Nobody understands the cost of having a business unless they go into business. The cost is phenomenal. I was in graphic design, typesetting and corporate ID. In just eqjuipment with 8 employees and myself we had close to a million dollars. I did well for 10 years but it then came to an end when I was injured and could no longer run the business. i understand totally where you're coming from. So thank you and God Bless.
The things it takes to conceive, design, test, re-design, procure materials (buy with your own money without a guaranteed return ), buy machines to produce the product, hire employees that might show up and might work, manufacture, finish, paint, MARKET, ship, replace lost or non working product, TAXES + TAXES + TAXES, insurance for employees and your family, insurance for buildings that are TAXED, heat, water, electricity, taxes, more taxes and permits and regulations. The average person has ZERO idea as to what it takes to run a business. I have been self employed for 35 years and have 3 small companies with dozens of employees over the years. Life is hard and then they tax you more....next is death. But with all that ...I could not work for anyone else.
Well said Chris
Chris, you are an inspiration to me. Good work and congratulations on your success!
I've owned a precision sheet metal manufacturing business for 48 years dealing with major OEM's. We have 30 full-time employees. While we "can" make anything out of sheet metal, many people don't understand everything involved. I had someone come in a few weeks ago wanting us to make a replacement drawer for a Craftsman tool box. We told him it would be at least $200, and he threw a fit. Granted, the material is only a few bucks, but before we can make his drawer, we have to pay someone to enter the order in our system and order the material. Then we have to create a CAD drawing, shear the material, program the laser to cut the flat shape, set up a press brake to form the drawer, inspect the part, create an invoice, and process the payment when we receive it.
I had a business for 45 years. Those of us who have done that understand and can commiserate with you.
That quick hitch mechanism is a great idea. But I was able to install an over running clutch on my tractor and now have a way to hook up stubborn pto implements, for a fraction of the price and only need one instead of one for each piece of equipment.
One more point : It is a FACT that products made in this Country requires much much more regulations compared to Foreign made products coming in. Leadership of this Country by way of policy & government has a big role to play in this situation
Brock, you’re the man. Awesome story and great explanation of small business economics.
This is a great video. The main problem is people most people can add but can not subtract. I hear it all day my labor rate is 175 a hour " Wish i could make 175 an hour."
Look, no offense but, the main issue with connecting a PTO shaft to a modern tractor is trying to depress the pin to slip the yoke on or off the tractor with the PTO shield in your way, right? Tractor supply sells a PTO shaft extension for less than $100 that does just that. The only difference is it's not two piece, and you still have to push the pin in to to slip the implements shaft on or off, but since the the extension moves the shaft out it's no longer an issue. And anyone who uses a "Quick Hitch" can or should use something to extend their implements PTO shaft to make up for the distance that the Quick Hitch increases the distance between the implement and the tractor. The simple tractor mounted shaft extension solved the issue for my needs anyway. Give it a try yourself, and inform people of that if you agree that it simplifies connecting and disconnecting your implements.
I have a small business. People don't understand, and never will!
Most people don't even know how to run a business in the first place....nor have the educational background to do so. Failure rates are really high....and a lot of that has to do with the people who own the business, see money coming in and immediately dive into it and spend it on fancy stuff to show off, rather than paying business debts, and re-investing into the company. Many times when a business is being properly ran, the owners get very little income if any for a while until the business is stable. Then they destroy it rapidly by doing what I previously mentioned, diving into the business account for frivolous buying habits.
You said it well. I work in the oilfields here in Texas. If someone GAVE you a well, you'd be like, Woo Hoo, I'm rich! Sad to say, I can tell you a different story about that...
Thanks for sharing. I think you hit the nail on the head, but that will never sink in to 50% of the US population.
Great explanation Mr Brock
He did a great job on this one.
As a business owner I 100% agree!
Well said. That's things people don't consider.
Wish I made $15 ph. Sounds awesome
Sounded like my mom crying about their business. I have a plumbing company and just bought another company. It cost money to make money. Always has, always will. Right now it's worse. But it will get better.
My Friend you & my husband have the same problem. However he may have found a niche that requires no liabilities or employees. But here it is , it will still take time to deliver which at some point he may have to work out. He is semi retired and it took years from different jobs to have the learning curve cinched up. He is still learning, Like all of us Americans trying to stay even or above inflation it requires more thinking, time investment & constant set back to be where we HOPE to be. That said this is why Americans have the best minds to start anything due to folks like you who take much risks & diligence. You will find your way guaranteed, stay with !
I had a solo lawn service in the early 90’s doing it part time in Rochester Mn. My goal was to go full time. I had did some calculations and thought if only I could go full time without employees I could be doing quite well. Well 1994 I went full time. I had a box ad in the Yellow Pages and I got more calls for work than I could handle. I had 21” self propelled mowers and a slow little barely used Wheel Horse lawn tractor with a 37” deck. I tried doing over 40 lawns but it was too much. Several customers dropped me and a few others i had to trim off the list until I had around 32 mostly regular size lawns. Good friends of my mom in church congratulated me on my success and they thought I must be doing very well financially now and I said no and tried to explain. They didn’t understand that very easily. Another guy from church who we thought privately was a little “out there” thought now I was getting rich. No I said, I’m getting by kind of with some extra money left over in May and June. One of the many other lawn services in town was owned by a former school teacher of mine. He had multiple crews going around in trucks using JD 21” walk behinds and charging just $17 for the average in town lawn when I was typically at least $1 to $2 more for the same lawn. I guessed that he wasn’t making any money and from a conversation I later had with him I was right. He owned a bar and some rental property too. By December I had to sell my little trailer to help pay bills and get two jobs, Montgomery Wards and Taco Bell because I wasn’t going to do snow plowing. Looking back I had too much competition with the average lawn cutting price in town was $18 when it should have been at least $25.
Nice! A simple explanation for a complicated problem. Thanks for that.
People that start a business often have an 'empathetic' mindset when it comes to pricing their product. Many business people tend sell like they would buy; that is if someone tends to be a hard-core bargain shopper, they will be inclined to price/sell products with a bargain-bin mentality. This value discounting often comes from good intentions, even if unsustainable.
However, we are presently living through an economic perfect storm of shortage and demand which does not discourage price gouging; it's buyer beware X2.
Hey Brock. Great video and I appreciate your approach to the topic. I wish you were my neighbor.
Very interesting video, Brock. I now have a better understanding of the manufacturing and sales processes. It sure is a ball of worms!
Hey Brock, out of curiosity, have you thought about getting into selling plans for stuff you build around the farm? I.e. your tractor implement racks, sawmill trailer, pond bridge, etc?
Even the pitching mound could probably make some money as downloadable plans and would simplify the rest of the stuff out of it for people that like DIY.
One problem with being a business owner is everyone assumes you're rich and you're rich because you're screwing everyone over.
You have to machine the part. Machining isn't cheap and time involved let alone all the other aspects that goes with it. People don't understand all those aspects. Been there done that. This about the best basic explanation about business because many people do not see all these expenses.
I have helped start two small businesses, and will never do it again. If I cannot do the work or produce a product myself, it is simply not worth it.
Excellent video. Very well explained. The average person (myself included) doesn’t have a clue what it actually takes to bring an idea in one’s head into a product on the shelf.
Great story Brock. Thanks for sharing.
"YoU caNt cOunT yOur LabOr, itS an InvEsTmEnt!"
I sold my manufacturing company and retired 2 years ago. Got tired of everything associated with being the owner. Employees were the biggest headache btw. Old saying: if it wasn't for customers and employees being a business owner would be fun.....
As a small business owner myself, I understand all of these costs that the average Joe does not. They look only at the raw cost and think that they are being taken advantage of, but that is not the case. And in this time of unprecedented inflation costs rise much faster than people's income which make it even worse
People will seldom understand what it takes to sign the front of the payroll check
Two words, corporate greed. I live in Arkansas and the two biggest offenders are Walmart and Tyson Foods
Taxes and regulation or corporate greed? I believe that the answer is, "D. All of the above".
Anyone wanting to become self employed should watch this video.After 45 years of being self employed I can look back at my struggles .So similar.If he could build 20 boxes a week by himself hiring one employee he would likely only be able to build 30.People that do not understand would say I am wrong.I would be rich today if I could have doubled my production by doubling my work force.
Good explanation. Most retail products you buy in the store actually cost 25% of the sale price.
I recently purchased a 7ft 3pt hitch grader blade. I used to be a dealer for this company before we sold our business and I retired so I was aware of the product’s value ( value is where the quality of a product intersects with the selling price). I was no longer a dealer so I looked around and found a gentleman online who sells this blade for about $2390 or so with “free shipping” and he would have it drop shipped from the manufacturer. I then found a small dealer about 1-1/2 hours away from me who would sell this blade for $1895 plus about $150 shipping but I had to pick it up at his place. He had a less expensive Ironcraft blade but I wanted a better quality than that so he ordered the Dirt Dog blade I wanted and I waited the 3 weeks until it came in. So the “free shipping” guy was not offering a particularly great deal. We had a small equip[ment dealership in Missouri with about 10 employees. I always said that I was only working for the insurance we purchased and the ability to pay taxes.
Thanks for making this video.
Excellent video. Hope it opens the eyes of some.
Nailed it-regulations, regulations, regulations
It's the government always the government doesn't matter which side is in charge
The government's primary mandate is to protect its citizens. Many of those methods require taxes and regulations.
Without those things, we become China or India!
I happily pay ALL my taxes, the alternative is far worse.
Doesn't mean I can't gripe about it, the inefficiencies, the theft, the private sector taking advantage of all of us through the government with all the special interest groups...
Do you ever try suing a Chinese company?
There are lawyers on TV that will sue any American company
for no reason.🤔
And if you want to export, you need a license for that too. It's all really ridiculous! This is why niche problems/needs are orphaned in the market...because they aren't lucrative enough.
Thank you very eye opening.
This is water under the bridge at this point. Given that you were selling wooden boxes, did you consider selling plans detailing how they were built? The digital product would have been much easier to continue as a sole proprietor as small business.
The PTO Link is to high priced. But I do like the idea and may get one.
It’s Debt, everything is bought with debt, from the raw materials to the final product.
Hey Brock what company makes that building?
Thanks
Brock , you are right . My dad used to holler about he cost of doing business . He left that business. go into another business . Seeya
The problem is the federal reserve note has no value, no one wants it....
Well said!
Well said, nice video.
We know why everything is so expensive. The average working American is paying his/her way plus the expenses of other people he/she doesn't even know but who are in prison, won't work, or on the dole for whatever reason. These people ( a relatively small percentage of who are truly just temporarily down on their luck and who need a hand-up) are subsidized (and often completely funded) by government programs paid for by exorbitant taxes. Our system is broken and the working people are being forced to pay for the drug-addicts and their children, the repeat offender who costs the taxpayer thousands every year to be arrested, jailed, fed, housed, released and then reoffends multiple times. All at the expense of working people. That's why our taxes are so high (plus the cost of political corruption). As you state here, when some politicians decided he can gain votes by forcing employers to pay unskilled workers skilled wages, that cost comes out of the pocket of the working person. It's simple yet complicated, but the breakdown of law and order, the socialization of government and the wokeness of our society is driving our economy and nation down. Some won't admit this and will scoff at it while calling names. Just wait. If something drastic doesn't happen pretty soon, something drastic is going to happen!
It costs so much because some people are willing to overpay for stuff...hence the reason today's vehicle prices are so ridiculous, people are dumb enough to keep paying the prices being asked...if people stopped buying stuff, the prices on everything will come down....and that PTO coupler isn't any different.
I disagree. If people don’t buy it at that price then the company will go out of business.
Try taking a product to market and you will see what I’m talking about.
No doubt if you can't benefit from your innovation and work, you will not risk your resources. Human nature is not to work hard to support everyone in society who are not workers. This is what the government thinks, and everyone keeps voting for it.
Also you are right the reason that product is expensive is taxes and insurance. But you are wrong it is all greed driven but by the consumer not the maker. You would not need so much insurance if the consumer wasnt so greedy and sued you because they were negligent that would be a cost savings. Also the greed of taxes which i wont get into but most should understand.
I understand that everyone wants to be the boss and make big bucks they want to help but when got to get something they want you to go get it lol so you should be doing yourself the thing no wants to is starting off its a lot of hard work thanks for explaining this to us some people don't understand that lol 😂 😂
Well, for starters China companies don't pay their workers much (6-7USD/hour) and they are in the process of completely destroying their environment in order to manufacture widgets so cheap - oh and since they have very little respect for intellectual property, the engineering cost(s) are fairly low - oh and China has socialized medicine (so no need for health insurance) and socialized retirement (so no need for a private retirement like a 401k) the price of those items do not need to get factored into the product final price
Good video
There is no way that part has 25$ worth of material.
Funny
I've often seen you wearing in your videos a T-Shirt that says, "Enjoy Capitalism." It does not sound all that enjoyable unless one is making a reasonable profit. And in consideration of all the good points you made about what it takes to make a reasonable profit, forget it, it's not worth the stress, it often results in working oneself into an early grave.
Everyone here is missing the point. If people can afford the product they will sell it. You can’t make money if shipping cost, manufacturing cost and labor cost and overhead cost add up to more than anyone can afford to pay for it. This business will go out of business. I can bet you that this product will not be on the market for that cost because this is a convenience product.
Correct. If you cannot manufacture it and deliver it for a prostate people will pay then the product does not justify a business
However, this specific product is offered for that same price range from more than one manufacture, and they sell a lot of them . It’s been out for years.
👍
can you plant cannabis in your state? show us the ladies on the back 40
This info should be taught in schools.
It should be force fed to University students who at this moment are being taught about corporate greed, the evils of capitalism and the greatness of socialism.
We have become a nation of fools.
Except that when you study corporate financial results, you can clearly see they favor their shareholders over everyone else.
😂
@@vdub1959 GET READY.. The new world order..... 'stakeholder capitalism' will broaden the number of entities that corporations have to appease, and we will see costs and prices rise exponentially. I guess we will all be happier once we realize that we must buy less. Stagflation here we come. Yippeee.
Actually all of those ARE the primary reason we are where we are. Special interests and money control the regulations and government, not a president.
@@michaelhess4825 Yes. Mike Benz has good info regarding 'the blob'.
TRUMP 2024
Nope
maybe you're just not a good businessman 🤷♂️
Well, I can tell you that with 100% accuracy. I actually said it in the video so we don’t have to speculate.
There is something to be said for selling $1 million of Plywood boxes in a year out of your garage. How many people have done that?
But I didn’t have experience in being a business owner so everything had to be learned as I went.
The point of the video though wasn’t about me and my personal failure, the point of the video was that I talked to small business owners every day and taxes and insurance or what drives up prices
It's so expensive because you voted for Biden! 😂
Maybe somebody voted for Biden. It wasn’t me
@@RockhillfarmYT Im just kidding appreciate your videos 👍
Bidenomics
Fractional Reserve Banking has diminished the purchasing power of the USD so much… it is the root of most all of our financial woes.
nope, the Citizens United decision is the cause of all of our financial and political woes.
1913 was the beginning of the end of our financial system.
Vote for the orange meany
Now everybody understands why when I show up at a job with a 150,000.00 worth of small equipment(and thats actually cheap)I have to charge min. 110.00hr..Not because I want too,because I have no choice.This is also why its so very hard to compete with the guy that just wings it,has no insurance,does'nt do it full time and runs clapped out equipment.As Canadians,our government does NOTHING to support small business,except hinder us to death in TAXATION.I may not agree on your business policies,but i appreciate this video.Thanks.
The government in the US taxes everyone to death regardless if you have a business or not. The problem is, most people running businesses don't have any business knowledge at all, and are like you said winging it without the proper insurance and everything else that goes along with said business....it may work for a while but the first time something goes wrong, that's the end of the business, equipment, and everything else too, especially if they get sued, it can take everything including their home.
@@wildbill23c Yes.and you guys in the USA tend to be sue happy.Not everyone of course,but a lot of people are looking for the easy payout by suing somebody over BS reasons.
I feel your pain. My wife and I have been in business for 40 years. All of the taxes (city, county, state, federal) that you mentioned are true. We have a pet boarding and grooming business and dealing with the pets is great, not all of the customers are nice. We started off with buying a cow pasture and now have grown into one of the largest, if not the largest, business’ of its type in Kansas. Only the strong survive, days are always too short, unanticipated expenses jump up, but so far we’ve done well. I can see where so many small businesses fail in the first 5 years. Stay strong, Brock!
HAHA, the pets are great, the customers are not. Yep, its that way everywhere....a lot of customers are horrible and shouldn't even be a customer period....companies need to bring back the "We reserve the right to refuse service to anybody"...and I bet a lot of people would change right quick when they realize nobody is gonna help them.
Boarding isn't cheap, and neither is grooming.
Animals are like most people, fun, happy and easy to deal with. However you have to deal with both 2 and 4 legged jackass(s) once and awhile? It takes a huge amount of restraint and will power when you get bit to not bite them back? With the 4 legged critters its easy as you just consider the source?. With that being said, the 2 legged ones just plain suck and deserve to be bitten in most cases-HARD and you have to just smile and take it.
Thanks to the Democrats....
Great explanation Brock. Thanks for taking the time to make these kinda videos! Makes me think a little differently about expensive products
I'll throw in my $0.02 cents. I don't disagree with the statements about what gets rolled into the cost of the product. HOWEVER -- Take a look at the complexity of the product as compared to a Woodland Mills WC88 chipper that costs $3549. When you look at that PTO coupler, do you see it in any way representing 10% of the complexity, materials, liability or anything else of that WC88? Personally, I can't. I've been around product development most of my professional life, albeit with electronics. I've worked on server designs, medical equipment, aerospace products, and consumer products. I'm aware of what goes into the engineering side of it as far materials analysis, failure analysis, risk analysis, marketing, etc. That does need to be baked into the cost of the product. But what you want is your product at that knee in the price vs volume curve where you're selling as many as you can for as much as you can. Charge too much, sell fewer. Lower the cost, make it up in volume. $400 isn't it, at least not for me. Especially since I need a coupler half for each implement. Literally cut that price in half, I'd do it. But not at $400 + ($200 * (number_of_implements - 1)).
I will also grant that products are sometimes priced high to maximize profit before the Chinese knockoffs hit. But often you want to initially price it below your product cost to grab the market. Unfortunately, there's at least one other PTO coupler design (maybe more), so market saturation won't work. This is the type of product you design, then outsource the manufacturing and shipping (and perhaps sales) to a company that handles volumes of products. Outsourcing does not necessarily mean overseas, it means you're not making it on a lathe and mill in your basement, or using a manufacturing company that will handle relatively low volume manufacturing (e.g. Send Cut Send, Big Blue Saw, and the like).
Like I said, my $0.02 cents worth. And at $400, it's not on my radar.
My goal was not to talk someone into buying this product
@@RockhillfarmYT I get that. I'm explaining why I myself would not buy into this system. Same whoever makes the other one.
Only $25.00 worth of material, go try to buy the material for $25.00.
Simple little item like this, make one and then tell me how simple it is to make.
I have Sixty plus years of experience fabricating tell me about it.I know not cheap and not simple.
I had one guy that brought me work, always all you gotta do and commenced telling me how to do it, finally I asked him if that's all you have to do why don't you do it? His reply was I don't have the equipment.
I do and equipment and tooling is not cheap and one mistake can make hours of work worthless scrap.
Well said
Well hell Brock, just take a stand with your political views. I imagine there are a lot of 9 to 5er's that watch your channel that have no clue how horrid the democratic party is. You have a voice to these people and exposing these woke people to truths may wake them up. Our country is just polluted with stupidity. Please help America.
Like the republican party is any better. But, I digress...
I started a small business to learn the pitfalls, I was fined for not reporting nothing. I mean I had no sales but was expected to file a sales tax report. Three months after starting my LLC I'm paying fines and late fees, Virginia is suppose to be business friendly? I focused on IT consulting to end the sales tax issue let tax ID expire (restructure LLC).
Government and expectations people place on you can really overwhelm a good idea!
All True! the cost of Health Care for a small business right now is CRAZY (on top of all the taxes, fees, services, shipping costs, material increases, and insurances). Just Crazy!!
Healthcare is ridiculous regardless of where you are getting it....the insurance companies are gouging, always have done so, and aren't giving any bulk discounts either.
@@wildbill23c completely agree!!
You nailed this one Brock. The guy who made that comment just doesn't understand what it takes to produce an item. And I promise you that there's more than $25 of material in that. Very well done sir.
There might be $50 worth of material in it, but what about 90% of the $430 for that item goes towards business related expenses....still $430 is a lot of money for something that isn't needed....now, if it were something that came with every tractor, due to the huge amount of sales, the item would be cheaper of course due to higher sales volume....but its kind of a hard sell item because not everybody wants or needs it, so sales are a lot lower. Now, if that same item was made in China for example, it probably would sell in the US for $200, maybe even less LOL.
Thanks Brock, right on point. The sad part is how many heads this will go right over. Doesn’t mean it’s not true. Critical thinking has been on the endangered species list is 1912.
Your best video to date.
Agreed
I have had similar comments. My response has been "If you can make products with the same standards and quality for that figure, I will buy every one of them that you produce". I have not been taken up on those offers.