Wallet 2.0: Prototype A
Monday, October 3rd, 2011I decided it’s time to up the quality of construction of my wallets and add some functionality based on feedback I’ve gotten over the past few years and my changing tastes.
What I’m doing:
- replacing the button + elastic closure with a more sophisticated magnetic snap closure
- adding a divider in the middle to help organize
- including smaller pockets (credit card-sized) on the divider to help organize
- producing one size instead of three sizes — the 9.5″x5″ (medium) size, which was the most popular-selling size
- replacing the other two sizes of wallets with other products that have a more specific use and were very frequently asked for when a customer was looking at the small or large wallets (iPad cover and glasses case)
- adding a label (which I didn’t on the prototype because I didn’t want to waste labels)
What does all this mean? First, it means I’m thinking harder about what I’m producing. I actually sat down and built a cost structure for all my items and potential items based on materials cost and my hourly rate. [why i didn't do this before is beyond me] It turns out that I was actually almost PERFECTLY on for all the items. The only one that I’m undercharging for is the teeny tiny wallets — and it’s time I’m losing out on. I still make my materials back and make about half of what I want to make per hour on these.
[wallet 2.0 should cost between $25-30 — would like to charge $30, but the old wallet this size without the upgrades was $15]
So I decided to build a prototype for wallet 2.0. I started by going to a local craft store and checking out the different types of closures. I ended up with the magnetic snap closure that I mentioned above. I sketched out all the pieces of the wallet — starting with the regular wallet (the shell) and the extra pieces I’m now adding.
Then I got to work. I grabbed a fabric that I never use and don’t like for the inside and a cheap solid fabric for the outside. I experimented with adding lace on the outside (thinking about adding bits of lace to my items here and there).
One thing I realized when I was into production — these wallets compliment the production of my zippy pouches perfectly. I have to cut 10″x10″ squares for those and I do the same for these wallets. So I could cut a TON of fabric at once (or be super lazy and order layer cakes of my favorite fabrics).
And I was right on the time guesstimate I had created for pricing — it took me about an hour to build this. However, if I was making 3-4 add about 15 more minutes to production for cutting the other fabrics and interfacing and sewing all the pieces for others together. Once you make one, it’s easy to “sweatshop” a few more in a similar amount of time.
There are a few things that I am planning on changing for Prototype B. I already sketched them out. In the meantime, I’m planning to use this wallet to see if there are any other improvements. One thing is that I didn’t have the super-heavy fusible interfacing I normally use for my wallets. The non-fusible kind will not make due. It’s not stiff enough.
Here are photos of my prototype. There are 2 more things I’m planning on doing but not sharing now because it’s much easier to show than tell.
She made me a quilt from some 
