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The Business of Apparel Podcast Series: Numbers Don’t Lie!
Manage episode 407382095 series 3560517
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The Business of Apparel Podcast Series: Numbers Don’t Lie!
In this episode of the Business of Apparel Series, Rachel explores the crucial numbers that will drive your apparel brand towards success. Listen in as I break down the importance of understanding margin percentages, a vital indicator of product health and profitability. I'll share why a margin of 35% or lower could spell trouble for your business when considering the full spectrum of expenses, and offer you an opportunity to further your knowledge through an upcoming free workshop. You won't want to miss the chance to participate in this workshop so that you can immediately impact your business strategy.
We then discuss actionable strategies to increase profitability, from renegotiating with factories to selecting more cost-effective materials, and even adjusting retail prices when necessary. Grasp the intricacies of direct-to-consumer and wholesale margins, and learn how calculating profit margins with both retail price and landed cost in mind is a fundamental driver for growth and financial independence. This conversation is tailored to empower you with the tools and knowledge to help you grow a profitable apparel business.
Sign up for the FREE workshop: https://www.thebusinessofapparel.com/freeworkshop
In this episode, you’ll hear:
-Are you bringing in the profits you need to grow your business?
-Why it’s hard for small businesses to compete with the big box brands.
-Working backwards to figure out your profit margin and the factors that go into the process.
-The importance of SKU rationalization and how this ties into setting appropriate profit margins.
We can’t wait to hear what you think of this episode!
Purchase the Business of Apparel Online Course: https://www.thebusinessofapparel.com/course
Like, comment & subscribe to my channel here: https://www.youtube.com/@unmarkedstreet/videos
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