I need estimates so I can put a budget together for my investor. How much will this cost?
It’s hard to say because each brand is so different, however, for a 4-piece, tailored Womenswear collection, we recommend having at least $100K – $150K+ liquid to cover our management costs. Typically, your cost of goods sold (COGS) budget is presented under our engagement, however if you should require a costing exercise prior to engagement, there will be a fee for services.
Is there a monthly or yearly fee?
We bill hourly for our time and services. You will receive an invoice at the end of each month detailing all our deliverables. Your monthly fee should land close to the original budget estimate if the SOW remains unchanged. However, a change in the scope of work that is considered outside of our engagement letter will result in an increase in our monthly service fees. As a result, a change order will be generated for you to endorse. We furnish all clients with a mid-month status report to show real-time budget status and project workflow.
What are your payment terms?
We accept wire transfer or ACH payments. Payment is due on the date stipulated in our Agreement which is typically the first of the month. For supply chain COGS (fabric, trim, samples, production, patterns, etc.), each vendor has different payment terms, but often times, they require a deposit percentage at the time of bulk order placement and the balance due before the goods leave the factory. After one year of working together, some suppliers will consider offering Net terms.
What is the price range to create a pattern and a sample?
This is a tough question as it all depends on the style. Generally speaking, pattern costs range from $150 for a basic women’s button down blouse to more than $1,000 for a highly intricate cocktail dress or men’s tailored blazer. Sample costs for the same items may range from $250 and up, again depending on the style and the source.
Do you offer general consultation prior to signing an Agreement?
We offer a complimentary 30-minute introductory phone consultation. However, if your needs require additional support and oversight during the discovery phase, you can retain us for a more comprehensive in-person meeting and for that, we will bill out at standard industry rates.
How do you scale your projects?
Depending on length and scope of the project we can scale your budget accordingly. If you’re looking for a short-term engagement, the budget will be reflected as such. If you are looking for a long-term engagement, we can sharpen the project’s fees/rates and gladly pass the savings along to you.