“If you really wanted, you could get the sale price down to $12,” Maman told Crain’s Business Magazine. “Right now, though, we’ve got a pretty big profit margin.”
Fidget360 spinners have only been on the market for six months, but have reported hundreds of thousands of dollars in sales, all with almost no seed money to boost the project. The fidget-spinner launched first on Weebly in October of 2016, and later on Shopify in November of the same year, and now they ship to all 50 states, 30 countries and have nearly 200,000 followers on Instagram.
Social Media Reach
Maman and Weiss were able to harness social media in an incredibly effective way to help boost sales. Their first Instagram ad cost just $15 and resulted in nearly $2,000 in sales – in just 24 hours. When the business partners began to see Fidget360 knockoffs appear on the market, they sprang into action.
Now, the duo produced a number of shell companies that sell cheap knockoffs of the original Fidget360. This ensures they won’t lose their spot in the fidget-spinner marketplace and also earns them even more money.
Just a few months after the initial 3D printed Fidget360 spinners aggravated their high school’s administration, Maman and Weiss put their toy into Walmart and other massive retailers. They have also received an offer to purchase the company that would pay the two in the mid-six figures (they said no).
Maman and Weiss are currently in the middle of studying for finals and acting like normal high school boys – well, to an extent. Between fielding calls from potential investors during class and planning for their next product, it’s anyone’s guess what their next money-making venture will be.