SwitchFlops Started As School Project

(CANVAS STAFF REPORTS) - Never underestimate the potential of Velcro and a little creativity in the hands of a teenager, it could lead to the creation of something like SwitchFlops.

At 16 as part of an art project, Lindsay Phillips came up with the idea to create flip-flops that had straps with "fun, funky buttons" on them, she recalls.

"I bought some fun buttons and tried to put them on some sandals, but they kept falling off when I'd go to the beach, so I came up with Velcro, and started lining it to the shoes," Phillips, who grew up in Tampa, Fla., told AOL .

Fast-forward nine years and Phillips is enjoying huge success as the founder of SwitchFlops , a company that is projected to bring in around $30 million in revenue this year.

With their interchangeable straps on sandals, SwitchFlops have become a welcomed product for shoppers on a budget in this tight economy. The reason: Instead of buying several pairs of sandals, you can instead own one pair with multiple straps that can be changed. Essentially, you can create dozens of sandals out of one pair.

The cost for the basic sandal itself is $35; additional straps are $12.

"We find our typical customer owns three pairs of shoes and 10 straps, and for them to be able to go and customize them ’ well, they get very excited and really enjoy doing it," she told AOL . "We really think it's all about versatility and value."

In 2004, with the help of an attorney, she had a patent. Phillips partnered with her mother to start her business and find a manufacturer.

SwitchFlops made their first real retail appearance in January 2007 at the Surf Expo Trade Show in Orlando.

She said sales grew from $700,000 in 2007 to about $17 million in 2009. SwitchFlops is on track to reach about $27 million this year, Phillips said.