Olive Business Partners’ Post

Hi Fashionpreneurs, Are you facing any of these common challenges in your fashion business? 1. Overwhelm: Handling everything solo and lacking a strong team. 2. Pricing Issues: Working hard with little profit to show for it. 3. Inconsistent Product Quality: Delivering excellence one day, and facing numerous amendments the next. 4. Staff Theft: Losing hard-earned resources to internal theft. 5. Poor Sales: Struggling with inconsistent sales that barely cover costs. If any of this sounds familiar, I invite you to join me, Ewomazino Ekweani, a Fashionpreneur with over 19 years of experience, for the 6th edition of the Fashion Business Structure Workshop. Happening over three weekends from November 9th to 24th, 2024, this workshop is designed to help you overcome these challenges and create a thriving, structured business. Here’s what we’ll cover: 1. Streamlined Operations: Build an effective team with simple processes, procedures, and policies. 2. Pricing Right: Learn how to set profitable prices using a free pricing calculator. 3. Consistent Quality Control: Keep quality high with a free guide and checklist. 4. Boosting Sales: Gain access to proven sales strategies, including a course on Mastering Facebook and Instagram Ads. Plus, enjoy 30 days of post-workshop group coaching to support you as you implement these strategies. Take advantage of our Early Bird price: ₦35,000 (normally ₦50,000). This offer ends on November 5th, 2024. Payment plans are available, so secure your spot today! To sign up or learn more, click the link below to subscribe. https://lnkd.in/gAF3-b88 Let's build a stronger, more profitable business together! ❤️ #thrivewithmazino #fashionbusiness #scaleyourbrand #fashionentrepreneur #businessgrowth #earlybird

Being a creative and working in a creative space, To be specific textile/ fashion industry. I have had an opportunity to interact with many entrepreneurs. And 70% have pricing challenges. Mostly if they do not overcharge, they will undercharge. Pricing your product has a large effect on your business. And normally Pricing your products starts off with math. You need to know how much it costs to make a product. This includes;    - Business costs.    - Marketing costs. - Production costs. - Shipping and handling costs. Use the pricing strategies below they will help you make pricing decisions.    1. Cost Plus pricing Calculate the cost of your product add markup. 2. Penetration Pricing Use lower price to enter the market and later increase the price 3. Competitive Pricing Check out what your competitors are charging. Then charge slightly lower or higher. 4. Value based Pricing Charge according to how the customer perceives your product to be worth.   5. Loss based Pricing Make a loss intentionally on some items while making a profit on the other items. Which pricing strategy are you using???

𝐁𝐮𝐲 𝟏 𝐆𝐞𝐭 𝟏 𝐯𝐬. 𝐅𝐥𝐚𝐭 𝟓𝟎% 𝐎𝐟𝐟: 𝐖𝐡𝐚𝐭'𝐬 𝐭𝐡𝐞 𝐑𝐞𝐚𝐥 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞? So, I was thinking—what’s the real difference between a Buy 1 Get 1 (B1G1) deal and a Flat 50% off? As a consumer, 50% off feels like the obvious win because you’re saving money upfront. 💰 𝐖𝐡𝐚𝐭 𝐚𝐛𝐨𝐮𝐭 𝐟𝐫𝐨𝐦 𝐚 𝐜𝐨𝐦𝐩𝐚𝐧𝐲’𝐬 𝐩𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞? How do businesses decide which offer makes the most sense, beyond just grabbing attention? Here are a few things that probably come into play: 1. 𝐒𝐭𝐨𝐜𝐤 𝐈𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲: Both deals help clear stock, but B1G1 could be more effective when companies want to move products faster. You're getting two items out the door in one transaction—perfect for clearing out unsold goods. 2. 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞: For daily essentials, either offer works. But when it comes to non-essentials, like fashion, consumers often feel like Flat 50% off is the better deal. 3. 𝐁𝐫𝐚𝐧𝐝 𝐓𝐫𝐮𝐬𝐭: If you’re an established brand, B1G1 is great because people trust your quality and are willing to stock up. But if you're a newer or less-known brand, 50% off might be more appealing since it lowers the "risk" of trying something new. Just some thoughts I had, and I’d love to hear yours! Feel free to share your insights or tell me if I’m missing something!💬  Mridul Agarwal #BusinessInsights #BrandStrategy #RetailTrends #strategy

🔥 HOT OFF THE PRESS! 🔥 I’m excited to share that my latest article, "Streamlining for Success", has just been published in Jewellery Business! 💎✨ You can find it on pages 34-37 in their latest issue. https://lnkd.in/e7xQP2hu In this article, I dive into how jewelry stores can optimize their operations to boost efficiency and profitability, especially in today’s competitive market. Here are a few key takeaways: 📊 Simplify Your Processes: Streamlining operations leads to better organization, faster service, and an improved customer experience. It’s all about finding and cutting the excess. 💼 Leverage Technology: I explore how investing in the right tools, from inventory management software to custom jewelry services, can make all the difference. 🚀 Supplier Relationships Matter: Having reliable suppliers is key to maintaining efficiency—timely delivery of quality materials ensures your business runs smoothly, and customers stay happy. If you’re looking to stay ahead and improve your store’s operations, this article is for you! Check it out and let me know your thoughts. 👇 #JewelryIndustry #StreamliningSuccess #BusinessGrowth #JewelryBusiness #MeganTellsAll

Struggling with unsold stock? We’ve got you covered! Running a fashion business is tough, especially when deadstock eats into your profits. We get it – those unsold items can be a real headache. But guess what? You can turn things around! With simple strategies like the 80/20 inventory rule and dynamic pricing, you can clear out that deadstock and boost your profits. 💡📊 Want to know more? We’ve put together a FREE cheat sheet with 8 game-changing strategies just for you. Just enter your details and get your copy instantly! 👉 [Download Now]https://hubs.ly/Q02CLKkK0

🚧 Storytime: How I fixed a major bottleneck for an apparel brand in ONE day. They were missing deadlines, overspending, and praying inventory would arrive on time—until we built a system that kept them on track, on budget, and boosted profits. 💡 Ready to clear YOUR bottlenecks? Book a Growth Gap Assessment today! 📲 Link in bio to get started. Let’s make it happen! #BusinessGrowth, #ProfitabilityTips, #ScalingYourBusiness, #EntrepreneurMindset, #BusinessTips

Starting a garment business can be an exciting and rewarding venture 🎉👗. Here are some key steps to help you get started: 1️⃣ **Conduct Market Research**: Identify your target audience and understand current fashion trends. 2️⃣ **Develop a Business Plan**: Outline your brand identity, production processes, and financial projections. 3️⃣ **Source Quality Materials**: Focus on finding high-quality fabrics and building relationships with reliable suppliers. 4️⃣ **Invest in Marketing**: Promote your brand through effective online and offline marketing strategies 📱🛍️. 5️⃣ **Prioritize Customer Satisfaction**: Attention to detail and a commitment to excellent service are essential for success. By following these steps, you can establish a strong presence in the competitive garment industry 🌟.

Secrets to unstoppable growth! Fashion Brands --- Don’t miss out on our complimentary 60 minute masterclass happening this Monday, October 7th at 12 PM GST where I’ll reveal my top strategies to help you take your brand to the next level! What you’ll learn: 1️⃣ How to identify your bestsellers and double down on their success. 2️⃣ The art of launching product drops that excite your customers. 3️⃣ Pricing strategies that balance competitiveness and profitability. 4️⃣ Using data and analytics to drive smarter business decisions. This session is packed with actionable insights that can make a real difference in your brand’s growth. Whether you’re stuck or looking to refine your strategies, this is for YOU! Register below or send a message, spaces are limited, so don’t wait! https://lnkd.in/dTH5vgXg #FashionBrand #ScalingYourBrand #BusinessGrowth #FashionBusiness #EntrepreneurLife #FashionStrategy #Masterclass #OnlineEvent #BrandSuccess #FashionEntrepreneurs #fashionindustry #fashionmentor #fashionconsultant

Confession time - I was in the bottom set for maths at school which meant I've never been super confident with numbers.   The good thing was that I went on to become a fashion buyer so luckily I didn't need to quote Pythagoras on a day to day basis. However, we did need to have a basic understanding of the figures in order to work out our profit margins as a department!   Obviously we had a spreadsheet that would do it for us … but what about when we were in a factory negotiating on the spot?    Or in a sign off meeting with directors?   I noticed some girls in the office had 1 simple equation sellotaped to the front of their calculator which helped them confidently work out the correct pricing under pressure - genius!   That's the thing with running a product business - you don't need to be “good at maths" to know this stuff!   You just need to know a few simple formulas that will help you get to grip with the basics of your pricing & profit which is what I'm teaching tomorrow in my free workshop! So as we enter into Q4 (the busiest shopping period of the year) , let's do a sense check to make sure your business is in a positive & profitable place!   This free workshop is designed to give you the tools and knowledge you need to price your fashion products with confidence.    You'll learn how to calculate your costs accurately, identify the perfect price point for your products & touch on wholesale too!   Whether you're a beginner or an established brand, this workshop will help you overcome your pricing challenges.     I'll break down the numbers in a way that's easy to understand, so you'll no longer be overwhelmed by it all & you'll finally feel in control of your financial decision making!   Remember that your profit will only improve if you review it - let's work on it tomorrow in a fun, friendly (& free) workshop!

Do you know how to price for profit? The right price for your product will work for 2 parties. It will work for; You And your customer. The right price covers your costs, sits in line with your target customer and nets a profit. My most used and recommended pricing strategy for start-up brands is the cost-plus pricing strategy. In this method we total our production cost for a product and then add a mark up to give us our selling price. This way we know our costs are covered and know what profit margin we receive. Product based business owners, what does your pricing strategy look like? _____ 💻 The Fashion Founder: For Brand Consultancy and Clothing Design    ✍🏻 Sign up to my weekly newsletter for insights and tools: https://lnkd.in/eHVrGCFz #startingabusiness #fashionbrandconsultant #fashionbusinessmentor #thefashionfounder #pricingstrategy #costpluspricing