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

calculate this once you cost your garment and figure out your wholesale pricing. Based on my pricing method, this will vary for each item. To be precise, you can calculate the average of the projected quantities, but that becomes very complicated. I would recommend determining your GPM for each product and use the lowest percentage of the batch to

To do a financial projection, you need to make reasonable assumptions on how many sales you will have, how many stores will carry your merchandise, and how you plan on reaching these goals. Create a timeline of your goals to make them realistic and within reach. Set marketing, advertising and trade show goals. This will help you achieve a visual pi

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Sole proprietors

Utilities – Figure these for any rented space, as well as your home office if you have one. You will figure the percentage your office takes up in your home and calculate your costs based on it. Utilities include gas, electric, water, telephone and internet. Budget for any designated phone or fax lines for your business, and your cell phone. You ca

You should figure that up to 5% of the pieces produced may be flawed and unsellable. Add that percentage to the numbers you produce.

Office Supplies – For me, $100 monthly usually covers my office supplies, including the short-lived ink cartridges that my printer sucks up. You know your own spending, so budget accordingly.

you need to calculate the business’ total expenses incurred for the month and then calculate the income received.

This statement is named the balance sheet because your Current assets equal your Liabilities and Capital.