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@Glowbike
Hi Stu,
If you can make tried-and-tested, light wheelcovers including custom screenprinting and heatformed for £10 - both sides of one wheel like you say - you will have people queuing up to get them.
I'm only afraid you may have made a mistake in your sums - my own covers are costing £15-20 in materials alone; not including time to make, a workspace and consumables like paint, drillbits and sawblades.
If you want to email me off-list you can contact me at ColinDOTWoofAThotmail.co.uk
My own Polycarb covers are 450g per side, but have been erring on the side of caution and can easily bring that down to around 335g by using thinner guage material and even lighter by drilling holes in the playing surface.
For reference I've just had my old corruplast cover on the kitchen scales and it comes out at 350g (full coverage, sits on rim sidewall, 26" wheel)