Why is Lego so expensive?

@andrewhoare_

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Selling · Ecom Product

Stereo Hoareseen in 9 videos →https://stereohoare.com/pages/custom-mosaic-designer ↗

Why it worked

The video uses a 'build in public' narrative that builds trust by being transparent about costs and business struggles, effectively turning a sales pitch into an engaging story.

Summary

The creator explains the business challenges of creating custom Lego-style album cover art, specifically focusing on how he reduced production costs to make the product viable. He emphasizes the quality and personal effort behind his brand, Stereo Hoare, to justify the price point to his audience.

Structure

1Identify the problem of high production costs
2Explain the process of optimizing the supply chain
3Address customer price objections
4Differentiate the product from mass-produced alternatives
5Provide a transparent look at the business journey

Product placement

The creator showcases his custom Lego-style mosaic album covers throughout the video, demonstrating their interactive nature and the packaging process.

Original caption

What’s a fair price? 🤔 #business #entrepreneur #SmallBusiness #startup #ecommerce

More from @andrewhoare_

Their other posts in the index, biggest breakout first.

On-screen text

Why is Lego So Expensive? 2 years 19 the album covers Lego reality cost $100 / set obscure colors only websites a couldn't Afford it scale it or expect people to pay that much the dream before it even started back to the drawing board a lot of trial and error Source Parts Cut Costs Keep Quality sell $49.99 actual viable business $49.99 people too expensive it is a lot of money but it's not your average set mass produced dropshipped TEMU each cover designed by me hand sorted packaged and shipped from my office product made by a fan for fans display piece it's interactive art that you can build yourself price also factors in a big chunk of the shipping costs just to keep it reasonable document the entire journey and be transparent explain what goes into each set and why they cost what they do EPISODE 6 'Selling a Billion Bricks' 2,219,072 real question is

Transcript

Two years ago, I was a regular 19-year-old who came up with the idea of turning album covers into Lego. I designed my first cover and when I went to turn it into a reality, I discovered it would cost $100 per set because of the obscure colors only available on second-hand Lego websites. At $100 a set, it just wasn't a viable business. I couldn't afford it, scale it, or expect people to pay that much. It crushed the dream before it even started. So I went back to the drawing board and after a lot of trial and error, I found a way to source parts smarter, cut the costs without killing the quality, until I could sell each set for $49.99, making it into an actual viable business. But even at $49.99, people still said it was too expensive. And I get it, it is a lot of money, but it's not your average set. These aren't mass-produced dropshipped products from Temu. Each cover is designed by me, hand-sorted, packaged, and shipped from my office. It's a unique product made by a fan for fans. And it's not just a display piece, it's interactive art that you can build yourself. The price also factors in a big chunk of the shipping costs just to keep it reasonable. I started this account to document the entire journey and be transparent, which is why I want to explain what goes into each set and why they cost what they do. This has been episode six of selling a billion bricks. The current total is 2,219,072. The real question is...