His previous projects have not been as successful as the new MagnoGrip, but such a valuable quality in business as self-confidence, patience and perseverance he has acquired is due to past experience.
The idea of manufacturing of magnetic bracelets for storing tools originated from Andrew accident. Several years ago, in 2005, he helped his cousin, who worked make-up artist to make a bracelet for storing brushes and makeup. A little later the exact same bracelet with magnetic pockets for storage of tools he made for himself when he made repairs to the house.
Andrew found a simple device that helps to have all the tools at hand, very useful for the construction and repair work and decided to establish its own production of magnetic bracelets.
Money ($ 40,000) at the start of his case, Andrew took his relatives. This allowed him to hire designers from Stanford to develop the original design of the product and negotiate with manufacturers in China to produce goods.
Magnetic bracelets MagnoGrip are bracelets made of nylon to Velcro, which allows you to adjust the size and magnetic pockets, through which small and not heavy construction accessories, such as nuts, bolts, nails, joints, etc. are held on the bracelet. The inner side of the magnetic bracelet is made of soft and breathable material that does not rub the skin of hands and dostavyalet discomfort after prolonged wear.
Today, the company's range MagnoGrip several different magnetic devices for storing tools. This and straps for storing bulky tools and suspenders, and bags and pockets, and even women's bracelets to store needles and pins.
The cost of magnetic devices depends on their type and range from 12.99 to 109.99 dollars. They successfully sold both online via the company's website and through an extensive network of major retailers, including Ace Hardware and TrueValue, which make up 40% of all sales.