2018 - The year of the Stepwing?
Hello there Stepwingers!
So you might have noticed there hasn't been much coming out of Stepwing HQ over recent months. Unfortunately we didn't hit our Kickstarter target and so we have had to go back to the drawing board on how we are going to launch these wonderful things in the UK.
Not that I expect you to be interested in this bit, but the problem we have is basically a financial one.
Stepwing are manufactured in Taiwan (after all, if you wan't something on two wheels - where else would you even think about going!) and so to start distributing them in Europe or the UK requires us to have a stock of them (which will take weeks to arrive as they have to come on a big boat all the way from China). It is simply not worth ordering a very small quantity as the shipping costs alone would make them far too expensive when they came to the point of actually selling them so it only makes sense to order 50+ at a time, which is why I felt that Kickstarter would have been ideal.
In a perfect world, we would have sold a load through the Kickstarter and then invested the profits from that sale into more stock and this would have created a steady flow and before you know it, rinse and repeat - every person and their grandmother would have one!
The other option would have been for me to go and see a bank manager and take out a big loan to buy stock, get them shipped and then found somewhere to store them until they are sold. The problem here is that the profits very quickly get eaten up by the loan interest and rent on a warehouse which makes it incredibly difficult to re-invest into the company.
And so the third option I have been left with is to approach retailers to hopefully get a big order from them. This also presents problems - the first being that by adding an extra link in the chain the money is stretched even further. I am also now asking the retailer to take a gamble, and put their money where my mouth is. It will take a business with a lot of confidence in me, the product and also their customers, that they will sell! I'm confident, and the feedback I have received about Stepwing suggests that it will work, so now it is a case of approaching retailers - a difficult and lengthy job, but hopefully I'm up to it. And we can soon see Stepwing on the streets.
There have been exciting things happening, unfortunately I'm not allowed to say too much - but as a teaser let me just say that there are some really fantastic things on television this summer...
I'll try and keep everyone posted on any news and thank you all again for the positive things I receive, please keep liking our Facebook and Instagram posts and hopefully you will be seeing Stepwing in the UK soon!