Victor Ng, the owner of Tonic Concepts, has never been satisfied with second best. A young entrepreneur, as recognized by GenerationYoungLeaders.com, he took one of the annoyances of everyday life and made a solution.
“We created the product because I love my car, as many people do, and I hated the way the E-ZPass looked,” he explains, referring to the electronic toll collection device used throughout the Northeast. “I came up with the product because I would hide my E-ZPass in my glove compartment. At tolls, I would reach over and yank it out. A couple times I narrowly avoided an accident. I went online to look for a cover for it. I bought every one that was available, and I hated all of them. So I decided to make my own.”
His search for an attractive and functional E-ZPass cover led him to his new product. It is available in eight designs and includes a non-slip pad that keeps the E-ZPass on the dashboard. It can also be used with a windshield-mounted unit, with black Velcro that comes with the cover. The case currently works with E-ZPass, Fastlane Pass, Ipass, Smart Pass, and Smart Tag toll transponder systems.
Ng is distributing it online and through car dealerships, but not in stores. That makes it an exclusive flea market and swap meet product. “We do pretty well online, but I feel it is an impulse buy,” he says. “Flea markets are great, and most people drive there, so they are already receptive to the item. It is also a way for us to gain more exposure.”
Tonic Concepts offers flexible wholesale terms and excellent margins. At retail, a transponder cover sells at $12 to $20. The wholesale price for 1,000 units is $6.50 each. For flea markets, the minimum would be 200 units. For more information, visit the Web site, e-mail Tonic Concepts at email@example.com, or call (201) 378-0308.