Cost sheet

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How Setting the right Retail Price Range for Your Fashion Product Impact Your Production and Sales

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How Setting the right Retail Price Range for Your Fashion Product Impact Your Production and Sales

Setting the right retail price range isn't just about numbers. It's a strategic decision.

Understanding the intricate connection between pricing and production is essential for sustainable growth and success and can significantly impact your fashion brand's production process and sales.

To do it right, you’ll need to balance factors like production costs, brand positioning, target market, competition, and desired profit margins.

In this article, you’ll learn how retail price plays a pivotal role in shaping both the creative and business aspects of fashion brands and get some tips to help you make informed decisions:

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What Is The Right Price For My Fashion Product?

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What Is The Right Price For My Fashion Product?

It's no news that pricing your product right will have a big impact on your sales.

But what is pricing it right means? 

This question can be even harder to answer if you are just starting your fashion brand. 

There are few ways to determine the right prices of your fashion products even at that stage. It requires some research, but It all comes down to defining your market positioning, your specific target customer and the value of your product for that customer.
 

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50 for 50!

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50 for 50!

Helping you avoid the thousands of pitfalls that can shatter your fashion business dreams.
That is my job! 
And I love it! 
However, as a result, in the majority of my content I usually address what mistakes to look out for, which doesn't leave much room to talk about the great things that our fashion industry has to offer.
 
After all, there is a reason why soooo many people want to be  part of this industry.

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What Scenario Should You Cost Your Fashion Product For?

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What Scenario Should You Cost Your Fashion Product For?

As a start-up fashion brand, costing your product for the first time is one of the most challenging parts of your fashion business.

When you source a factory you will have their costs for making both a small run of your product (i.e. 50 units) and a bigger run (i.e. 200+ units). For many designers, the first season is experimental and you might not know exactly how many orders you will get. So the big question is: Should you price your product based on the cost of a small run or the cost of a big run? 

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How Many Units Will You Need To Sell to make a profit in Your Fashion Business?

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How Many Units Will You Need To Sell to make a profit in Your Fashion Business?

How many products will you need to sell in order to cover your cost and at what level of sales will your business make a profit?

To answer this you will need to calculate and find what is the breakeven point of your business.

Breakeven point (or breakeven analysis) is the point in which expenses are covered, and anything that is sold above that point means that your business is making a profit.

Calculating the breakeven point is done by defining the relationship between expenses and revenues and understanding how expenses/cost will change as sales increase or decrease. Let’s look at how it’s done.

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5 Points to Consider When Pricing Your Fashion Product

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5 Points to Consider When Pricing Your Fashion Product

Spring 2015 market is just around the corner, how is the sample making process going for you so far? Hopefully your collection is coming well and on time. A major next step for you is pricing your products right to make sure you are making a profit. So as you are getting your cost sheets ready and to help you avoid this bad experience here are 5 points to consider while costing and pricing your fashion line:

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$200K sales in first season yet almost out of business! A true story

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$200K sales in first season yet almost out of business! A true story

When starting a business, the unknown is bigger than the known. Where do I find….? How do I…? What is the best….? Are normal questions to have and having the right answers, answered by the right people for your business, will make the process smoother, more effective and much less expensive.

Congratulations on starting your own brand, what now?

About 10 years ago I was hired by a designer, for the sake of this story I will call him Mark, who by then had a very successful career as a creative director for big brands (RL, Nautica), to join and help him as he was starting his own brand. He had a very clear vision as to what the product should look like and the concept of his brand (since he’s done that successfully for these other brands for nearly 20 years).

But when it came to starting his own business there were many aspects that he wasn't familiar with. While working at these bigger brands, things such as sourcing, costing, developing, producing and selling the product where not an issue, or at least not issues that he had to deal with. This time he was starting as a small business with a limited budget