What Is The Right Price For My Fashion Product?

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.
 

50 for 50!

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.

What is Cash Flow And Why is It so Important for Fashion Brand?

What is Cash Flow And Why is It so Important for Fashion Brand?

When I first heard about cash flow in relation to my fashion business I thought to myself: What does it have to do with fashion??? I went to fashion school not accounting, right? ....Just checking.
And my ego added: I have a great style, people love my designs, they'll buy them and my brand will be successful...

As I mentioned before...I made quite a lot of mistakes with my fashion brand and paid heavily for them, the above was one of them.

What is cash flow?  
Cash flow is the net amount of cash moving into and out of a business. 

3 Fashion Brands that Kicked the Bucket - Learn Why

3 Fashion Brands that Kicked the Bucket - Learn Why

Another stale broccoli casserole?
A few more polite words with “the family”?
Too many “what a shames” and too many “I saw this coming”...
This is getting all too common. 
Seeing another promising fashion startup that has been laid to rest has really stirred me up.
And you know what?
 

What Scenario Should You Cost Your Fashion Product For?

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? 

How Much Does it Cost to Start a Fashion Brand?

How Much Does it Cost to Start a Fashion Brand?

Isn't that the million dollar question?

Unfortunately there isn’t one answer for that question. The answer depends on many aspects such as the product type, target market, price point, business concept, strategy etc.

At What Level of Sales Will Your Fashion Business Make a Profit?

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.

The Most Important Step to Get the Best Results From Your Production

This week I read a very informative article on manufacturing and production and it made me think: “What is the single most important step to get the best results from your production? “

I once had a teacher who said that if we simply do our homework and study, the test will be a breeze! And he was right, it worked for me. The same concept easily translates to fashion production.

DESIGN WITH PRODUCTION IN MIND! I know how boring and limiting this part sounds for a creative person like you, but following this motto is the single, most important step to turn your creativity and talent into a BUSINESS! If you plan your production process while you design your product and think ahead about each step, re: the logistics, the cost, the timeline, etc. your production will be easy and will have no tricky questions or surprises.

To help you with that, here are 3 tips you should follow when designing your next season: 

5 Points to Consider When Pricing Your Fashion Product

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:

Top Five Points to Consider When Sourcing Fabrics

Top Five Points to Consider When Sourcing Fabrics

On July 22-23 the PREMIERE VISION NY & INDIGO fabric shows will take place here in New York. If you are planning to attend the show, here below are 5 fabric sourcing tips you should consider.

Choosing fabrics for your designs will have an impact not only on your garments but on your business in general. Things like minimums, freight, continuity and availability of fabrics, prices (off course), etc. can affect your cash flow, cost, prices and more and should all be seriously considered before committing to fabrics.

Why Making Samples is So Expensive?

Why Making Samples is So Expensive?

One of most asked question by young designers is: “Is this the price for only 1 sample? Why is sewing one sample so expensive?”

Lets go through the details together and i'll explain why is sample making expensive:

Making only one at a time – let’s think about baking for a second, If you’d make 1 cookie or 20 of the same type of cookies, the time and cost for either will be about the same, agree?

How Feasible is Your Vision?

How Feasible is Your Vision?

Let's take a second to talk about the feasibility of your fashion business.

Before you jump all in to execute your vision it is really important for you to do your homework and find out how feasible your idea is.
Yes lots of times you will need the help of industry professionals which is where we can help, but even before that there is market research that you can probably can and should do on your own that will answer that question.

I thought the best way for me to address this subject will be to share an example of a general conversation that i often have with a designer on a feasibility consultation session.

Start A Fashion Brand Workshop at Mood 11/16/2013

Start A Fashion Brand Workshop at Mood 11/16/2013

Start A fashion Brand - One day seminar at Mood Fabrics. 

 

 

From Concept to Sales, 6 Things to Know about Starting and Running a Successful Fashion Brand

From Concept to Sales, 6 Things to Know about Starting and Running a Successful Fashion Brand

So much more goes into starting and running a successful fashion brand than good designs and branding. Often incredibly talented designers and very marketable labels fold for reasons that have very little to do with the actual concept behind the clothes.  So what is the secret recipe behind success in the fashion industry? What do the successful brands do that others don’t?

This Saturday we are hosting, together with Mood Fabrics at their NYC store a full day workshop.  We asked the three industry experts who will teach that day and whom each handle a piece of the fashion puzzle, from concept and creation to sales and marketing, for their two best tips on running a successful fashion brand and here is what they had to say:

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

$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