Costing & Inventory Planning for ROI
One must consider the realistic price of an item, and adjust to meet the needs of markets. Consumers buy the products you make, price & quality for the consumer must align.
Katherine Schildmeyer
One of the biggest hardships in a start-up business is financial planning for production. How much is labor? How much are materials? How do we solve our margin and price setting? If you're in need of help in this area, and want to learn more about developing strong process to know financials better, please contact us. The short list of questions that any fashion business needs to know.
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Do you know the profit margins for each product you sell?
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Is your business tracking daily sales with a P&L sales tool?
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How much does it cost to sell one item? (reference to marketing expenditures)
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Can you make the same product for a little bit less?
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Is the product/service different enough to be viable in a saturated market?
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Do you have a growth plan?
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How does your company log daily traction, goals, and etc?