My Luggage Company is Finally Live - The Feature that will Change Your Travel Game!

Summary

Rob Petti shares his journey of creating Flipside Luggage, a solution for separating clean and dirty clothes while traveling. After realizing the limitations of existing luggage, he invested $100,000 to develop a better product. He details the prototype process, addressing various design challenges and improvements over time. With the final design ready for production, he discusses the challenges of forecasting demand and managing inventory. He plans a Kickstarter campaign to gauge interest and color preferences, emphasizing the quality and functionality of his luggage while inviting viewers to support the project.

Takeaways

• 🚗 Cars are fun and often symbolize success, but owning too many can become a depreciating asset.
• 💡 Instead of buying another car, Rob decided to invest $100,000 into starting a luggage company called Flipside Luggage.
• 🧳 The idea for Flipside Luggage came from the need for a suitcase that separates clean and dirty laundry while traveling.
• 🛠️ Rob developed several prototypes for the luggage, investing about $25,000 in design and marketing.
• 📦 The first prototype was functional but had several design flaws, prompting the need for further iterations.
• 🎨 The final version of the luggage includes customizable features, with multiple color options available.
• 📈 To forecast demand and determine color preferences, Rob plans to launch a Kickstarter campaign.
• 🛒 The Kickstarter is not for raising funds but to gauge interest and order quantities for the luggage.
• 🎁 Early backers will receive a $100 discount as an incentive for providing valuable information about demand.
• 📅 Rob is preparing for production, which will take about 50 days, and he aims to fulfill his commitment of buying a car based on the company's success.

Q & A

What motivated Rob Petti to start Flipside Luggage instead of buying another car?

Rob Petti viewed cars as depreciating assets and wanted to invest in a business that could provide a better return. He aimed to create a case study on entrepreneurship using the profits from the luggage company to eventually buy a car.

What problem does Flipside Luggage aim to solve?

Flipside Luggage aims to provide a suitcase that separates clean and dirty laundry while traveling, addressing the common issue of mixing them during trips.

How much did Rob spend on the initial prototype of the luggage?

Rob spent approximately $25,000 on the initial prototype, working with a marketing and startup firm to develop it.

What were some of the key features of the first version of the luggage?

The first version allowed for a two-sided opening and featured a movable partition for separating clean and dirty clothes, although its construction had several issues.

What improvements were made in the subsequent versions of the luggage?

Subsequent versions improved materials, design, and functionality, including a softer fabric, customizable space for clothes, and a hidden pouch for an AirTag.

What challenges does Rob anticipate in forecasting demand for his product?

Rob anticipates challenges in estimating customer preferences for colors and managing inventory levels to avoid overproduction or stockouts, especially with a production lead time of several months.

Why is Rob using Kickstarter for Flipside Luggage?

Rob is using Kickstarter to gauge demand and color preferences rather than for funding, as he already has an investor. This will help him make informed decisions about the initial production run.

What is the price point of the luggage, and how can customers receive a discount?

The luggage will be sold for $350, and customers can receive a $100 discount by using the promo code 'kick' when purchasing through the website.

What notable recognition did Rob's luggage receive during its development?

One of the prototypes was a finalist for the Luxury Travel Product of the Year at the National Travel Goods Association.

What is Rob's plan regarding the production timeline and inventory management?

Rob plans to document the production process and will need to place orders well in advance to manage inventory effectively, with a production cycle lasting about 50 days.