Hello Reader, As we near the conclusion of our Pricing Series, it's time to focus on market research and pricing strategies to ensure you hit the bullseye with your fashion piece prices. For your Market research to be effective, you need to: Understand your target audience, competitors, and the overall industry. Analyze how brands similar to yours price their fashion pieces. Are they positioned as luxury, premium, or budget-friendly? Examine their pricing structures, such as whether they use...
over 1 year ago • 1 min read
Hello Reader, Our Pricing Series is making steady progress, and we're now approaching the critical phase of factoring in labor and overhead costs. What are Labor Costs? Labor costs are the wages or salaries you pay to those involved in the production process, from seamstresses to designers to social media managers. Overhead costs, on the other hand, include rent, utilities (electricity), internet/data fees, insurance, and other indirect expenses that keep your fashion business running. And if...
over 1 year ago • 1 min read
Hi Reader, I hope you have been enjoying our Pricing Series so far and are taking notes! In our journey towards mastering pricing, we're moving on to a crucial step: calculating material costs. This is where you'll need to pay close attention to the details. Step 1: Start by listing all the materials used in a single fashion piece. This includes fabrics, buttons, zippers, lining and any embellishments. Step 2: Determine the quantity of each material required per piece and its cost. Assign a...
over 1 year ago • 1 min read
Hello Reader, Welcome back to our Pricing Mastery Series! Today, we'll dive into the first essential step of pricing your fashion pieces: understanding your costs. To accurately price your outfits, you need a CLEAR grasp of your production costs. This includes materials, labor, overhead, and any other expenses related to creating your fashion pieces. In our upcoming emails, we'll cover each of these aspects in detail. To get started, make a list of all the expenses associated with your...
over 1 year ago • 1 min read
Hi Reader, I hope this message finds you well! We asked a few people within the community for feedback on what you would like to learn more about within the community! One of the points that came up was - HOW DO I PRICE MY OUTFITS? Many of us are under-pricing our outfits because we don't have the resources and information to price accurately. So, we're thrilled to kick off our Pricing Mastery Series, where we'll guide you through the process of accurately pricing your fashion pieces. Whether...
over 1 year ago • 1 min read
Hey Reader! Welcome to Business of African Fashion! My name is Victory and I am so excited that you have opted to hear from us. I started this platform with the goal to create a community for African Fashion entrepreneurs. When I started my fashion business in 2020, I realized I had a lot to learn about the industry but felt ill-equipped with the knowledge and access to resources to bridge the gap in my learning. I truly believe that African fashion entrepreneurs have the potential to...
over 2 years ago • 1 min read
Hey Reader! My name is Victory and I am so excited that you have opted to hear from us here at Business of African Fashion! I started this platform with the goal to create a community for African Fashion entrepreneurs. When I started my fashion business in 2020, I realized I had a lot to learn about the industry but felt ill-equipped with the knowledge and access to resources to bridge the gap in my learning. I truly believe that African fashion entrepreneurs have the potential to dominate...
over 2 years ago • 1 min read
Hey Reader! My name is Victory and I am so excited that you have opted to hear from us here at Business of African Fashion! I started this platform with the goal to create a community for African Fashion entrepreneurs. When I started my fashion business in 2020, I realized I had a lot to learn about the industry but felt ill-equipped with the knowledge and access to resources to bridge the gap in my learning. I truly believe that African fashion entrepreneurs have the potential to dominate...
over 2 years ago • 1 min read
