Effect Looper

[Matteran]

So, I've run into a problem of a pedal effecting my tone significantly when it's bypassed. I looked into converting it to true bypass, but it's damn near impossible at my skill level.

So I decided to get a looper (one of these, specifically). Then I realized... why pay 35 dollars, when I'm sure this would probably be the first instance of a "pedal" actually being cheaper as a DIY than to buy.

Would someone be able to help me out with a simple schematic? Yeah, I'm a newbie.

[Matteran]

would it be like this http://www.diystompboxes.com/beginner/circswled.jpg

and the input to the circuit board would be the input to the pedal I want to bypass, and, then the output of the circuit board would be the output of the pedal?

[chunks717]

looks good to me- usually i switch the LED ground instead of the +, im not sure which is the most sound practice, but that way, if you need to ground the effect input in bypass mode, (rare) there is an empty lug with which to do so....................your ring and sleeve labels are reversed (to me at least, ive seen others do it this way) but the 'parts' and wires are correct
........a ring by any other name............................good luck
EDIT: i see the pic is from this site, so someone has reason to do it that way, and that person is likely more educated in the subject than i.