You are currently viewing How to set prices for your fashion business in Canada
How to set prices for your fashion business in Canada

How to set prices for your fashion business in Canada

  • Post category:Blog
  • Reading time:4 mins read

Your fashion products are waiting to sell but aren’t sold because you haven’t set prices for your fashion business yet. Selecting the right price for your custom apparel products is important and must be done correctly. Here are some of the ways to do so. 

Research the market

You have to identify and know what the market is offering to buyers. If your products stand out, you can charge a higher price. Otherwise, you may have to set a lower price to beat your competitors. People will always look for what value they’re getting out of your custom apparel products. 

Figure out your manufacturing costs

It’s essential to know how much you have to pay to make your fashion productsKnowing this is essential to how to set prices for your fashion business. Once you figure out the total cost, determine the average over the amount of volume you produce. Make sure that the average price you charge is not lower than your average cost. Otherwise, chances for your business to run for another year is dire. 

Find out how much margin do you need?

In order to thrive as a custom apparel or fashion business, you must make a profit out of each product you sell. You need to pay yourself and your staff too for all the efforts and time you guys invested in making things work. Not only that, you have to pay your rent for your business building, shipping costs, electricity and whatever else is vital for your business to run. These are called your overheads. 

Also, you might have to invest further for your business to go ahead of the market. You’ll have to make further investments for things like marketingsales and R&D (research and development). 

Need to have clothes designed for your fashion business?

Suppose you’re looking to sell clothes with unique designs and high-quality materials. In that case, you’ll need to look for the right custom manufacturer. Iconic Apparel House does that. We re-engineered our manufacturing and ordering process to easily place your order and have your product ready without flaws. 

To place an order, go to our products page and select the type of custom clothing you want or whom you want it for. If you’re unable to find your product, then no worries! You can simply send us an inquiry through our enquiry form and tell us your preferences, deadlines and custom design details. We’ll review it and get back to you shortly.