EXTRA! EXTRA! READ ALL ABOUT IT!! This episode’s topic is on our friend, the oh-so elusive, Costing; what is it? Where does it live? Why does that brand sell the exact same product for double the price? Why does it matter? Ignoring this part of the process or leaving it for the very end is not advised (like many choose to do!). We actually like to start the discussion of costing from the very start.
When you build your biz plan, you should be taking into consideration where you want your brand to stand in the marketplace. You need to come armed and ready with this information, so we can then work back into a production strategy that works for you. Your market strategy determines pretty much every other aspect of your process: from where you source your fabric to where you produce your goods, to the type of materials you use, who your customer is, and where or how you distribute your product. As your business grows, we’ll be here to help with a few more tools of the trade. Tune into this week’s episode to get a small look into our dear friend, Costing.