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Price

We already have several considerations on how the idea of JamBand will expand, but initially, we intend to focus on making JamBands disposable. Thus, initial models will rely on nonchargeable batteries and other aspects of its design that are similarly considerate of the product's context. This keeps manufacturing costs low for us, and prices similarly so for our consumers.

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Overall, there's a base $5,000 cost from software creation and resource acquisition (with the burden expected to be at least partially carried by a partnership with Last.fm for a third-party music database), with one JamBand then expected to be approximately $5 to produce. Mind you, this $5 cost considers a few stages of the manufacturing process rather than pure production. Like the base cost, it is a kind of worst-case scenario, as per the principles of mass production, we expect each JamBand to cost less individually the more of them we produce, and we expect such a decrease to be immediately noteworthy.

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Furthermore, we intend to implement a model of rewarding event organizers that make an effort to return JamBands to us (along with a generally generous reimbursement policy). Again, these are disposable models, so they are not reusable per se, but parts of them certainly will be, and they will likely be some of the more expensive materials. We expect this ingenuity to be an effective long-term cost-cutting method which would not sacrifice quality if handled as delicately as it intends to be.

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Cost

Revenue streams will come from bulk orders from event organizers as well as a share of the profits made by that event organizer from renting JamBands..

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Given that we are approaching JamBand (at least initially) with a disposable model, both the event organizers that will be directly ordering from us and the partygoers that will be renting our product will have little to worry about regarding cost.

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For organizers:

  • Small Package: 50-149 Bands — $2.00 each

  • Medium Package: 150-249 Bands — $1.75 each

  • Big Package: 250-500 Bands — $1.50 each

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The cost to rent JamBands at events will be $10 per partygoer. We reserve a 20% commission on each one rented, with the rest distributed however the event organizer may see fit.

©2023 by Jamband

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