By Karen Buscemi
I hate wasting money. Totally loathe it.
I'm not opposed to spending it when I know I'm getting something that I want and will use, but to part with my hard-earned money and either not get the result I was expecting or not use at all is disheartening to say the least.
Which is why I've made it my mission to keep you from experiencing that pit of regret.
My company makes sewn products, most often clothing, accessories, home goods and pet products. I work with clients all over the country, and if they are a start up, it’s the rare one that truly has their product pricing figured out.
The truth is, it takes a good deal of work to do all of the research and analysis needed to price a product correctly. But it’s 100% worth it. Why? Because if you do it right, not only will you sell your product, but you’ll also make the margin you want.
I’ve seen way too many brands invest money and time in going all the way through pre-production and production and be nonexistent mere months later.
Where did they go? They didn’t sell their product the way they thought, they became disenchanted with the dream, and they let it slip away.
You must do the work BEFORE you start pre-production if you want better odds for success. How much your design will cost per unit to produce is the key factor to what your product’s price will be. But if your target audience can’t afford that price, then they aren’t going to buy it and there you will be, stuck with your unsold inventory.
For instance, the cost of your materials per unit and the expense of your construction details can be altered by your factory to better match the pricing you need to achieve. This is a small amount that you need to understand before you can determine a price for your product.
In my digital course, Setting Prices For Your Apparel Brand, I teach you what you need to know to go down this path with confidence.
Upon completion of the course, which you can work through on your own time and rewatch any part you like over and over, you will understand:
Your brand’s place on the fashion pyramid
How to analyze your real competitors and find your point of differentiation
How to talk to and work with a manufacturer
How to create your customer persona
All the expenses you must consider
Your sales model
Your pricing methodology
If all of the above isn’t enough of a reason to take my course, all course participants get ONE FREE YEAR of membership in our Brand Building group! (Valued at $239.88). The membership gets you exclusive content, special discounts, the Brand Builders Forum, AND three FREE emails per month with me. Any branding, strategy or manufacturing-related questions that come up throughout the month, ask away!
That is serious value that you can put to work for you immediately. And if you get stuck anywhere along the way, you have those three free emails every month for a whole year to get my advice.
Are you convinced? Thank goodness!