Fashion Unraveled - Second Edition - How to Start and Manage Your Own Fashion (or Craft) Design Business

All expenses need to be considered in determining your pricing. This will ensure that your profits won’t be eaten by that ink-sucking printer.

Show Fee - Many shows have half booths for first time vendors, so ask about them—they are not always published.

there are two major kinds of expenses, variable and fixed.

One way to acquire professional photos is to enter into a TFP (Time for Prints) or TFCD (Time for CDs) arrangement.

LLC or a corporation.

Trunkt.com offers such services and caters to smaller design entrepreneurs.

In actuality, these items are examples of fixed costs directly related to each collection you produce.

There are two reports that you should prepare on a monthly basis - a Profit or Loss Statement and a Balance Sheet. These two reports will later allow you to evaluate your overall annual expenditures and how you can improve your income.

A Balance Sheet shows the business’ assets, its liabilities, and your invested capital. In other words, it details the value of the business. It calculates your business’s worth by subtracting all the money your business owes from everything it owns. Most balance sheets show some property as being current assets and others as long-term assets.