Fashion Business Cost Sheet 1

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In this link (https://startupfashion.com/wp-content/uploads/2015/03/StUF-Cost-Sheet.pdf) you can find a template for creating cost sheets in your business brought to you by StartUP FASHION.

A cost sheet is a document that reflects the cost of the items and services you need to pay form in order to create each piece in your collection.

Here are 5 tips to help with your pricing:

1. You need a good cost sheet. You want one that will show you the costs as well as wholesale and retail prices. Even better if you can see different scenarios based on different mark-ups.

2. Calculate your costs as of today, not what you think your costs will be as soon as “you sell a little more volume It can be hard to look at the actual numbers and be honest about your cost sheet. It’s tempting to “cheat” and put in numbers that you know are not accurate because it looks better. Well, the numbers may look better but that doesn’t mean you’ll have any extra cash in the bank.

3. If you start your business selling direct to consumer, keep in mind how you’ll determine your retail prices. Many designers start with directto-consumer sales (B2C) and want to sell wholesale (B2B) in the future. If you don’t build in the margins with your initial pricing, you will not have the option to sell wholesale in the future because it won’t be profitable.

4. Include packaging as part of your cost sheet. This includes hangers, poly bags, tissue paper, jewelry boxes, hang tags – all of it.

5. When you’re a startup fashion business, it’s very difficult to include a percentage of overhead into your cost sheets. This is data you simply don’t have yet so don’t worry about it. Not everyone agrees on this, but one piece of advice is to build in enough markup in your pricing and consider re-evaluating your cost sheets in a few seasons after you have some sales and expense history.