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FEATURES

Major Money Makers: Cheap Products that Made their Creators Millions

12/12/2017

 
By Bethany Stewart 

Everyone wants to be able to say that they made millions in their lifetime. There are many ways this is possible, but creating a product that costs less than five dollars and produces a profit in the millions is something difficult. Many new products and ideas are released to the market on a regular basis. But, very few produce a substantial profit for the creator. Below is a list of some of the cheapest products in stores that have been the most profitable.
  1. Post-it Notes. Originally a failure of 3M glue, creator, Arthur Fry, used the faulty glue to stick on the back of his reports. This sparked the idea for sticky notes, a small piece of paper with a sticky adhesive strip on the top. Post-it Notes have made over 29.9 billion dollars in profit, but typically cost under $8 pack.
  2. Silly Bandz. These elastic shaped bracelets were the craze during 2010. Even with many imitators, the company was able to make a huge profit off of the silly product. With over $100 million made in profit, the creator had tremendous success in under a year. The product currently only costs about $12, but at the height of their sales, they sold for up to $30 a pack, each pack containing about twenty-five bands.
  3. The Pet Rock. Although this fad is a thing of the past, creator, Gary Dahl, was able to make north of $15 million in the first year of production, costing $3.95 per rock. This rock came in a box with air holes so the rock could “breathe.” This idea may have started out as a joke between Dahl and friends, but in the end, the joke made him a multimillionaire.
  4. Snuggie. This blanket with built-in arm holes is an idea so simple, yet so valuable. The retail price is $14.99 per each snuggie. They come in all colors, patterns, and a few different sizes. This simple yet innovative idea has profited creator, Scott Boilen, over $200 million, and is still being sold in stores today.
  5. Slap Bracelets. These flat bracelets that hit your wrist and then wrap-around are super exciting for young children. Stuart Andrews was a schoolteacher turned inventor when coming up with this idea. These bracelets only cost about fifty cents each, but in only a year, the bracelets profited about 8 million dollars. ​
    These products are only a few of the many that have profited their creators millions. Many new ideas fail, causing debt for their creators. If you have a new idea, do not be afraid to try it, but make sure you do not put all of money into it!



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