lol.... this thread is just bit silly, expecting a small operation to duplicate a product made by a well established manufacturer, with a fully automated assembly line, with one or two machines and hand full of staff and it has to be CHEAP!.
One of my buddy said it best " To makes a small fortunate in the ???? business you first have to start off with a large fortune"
Start off small don't copy what is already out there, especially copying something people think it is over priced, focus on item first do a small batch as a test, try not to finance your development of base the proceeds from your sales, because your product might not move off the sheves fast enough, any capital tied up in inventory is money lost.