Let’s Ask The CEO
Welcome to the first week of “Ask Zack” where we at Indie Source give you the chance to sit 1 on 1 with our CEO Zack Hurley and discuss popular questions that are crucial to your success.
In the first episode, we cover the basics of pricing and breaking into retail, and answer:
- How do I choose the right price points for my collection?
- How much does product development cost?
- How do I break into retail?
- How do I go about partnering with a sales rep?
- What’s your best tip for turning no’s into yes’s?
This week, you guys asked, “how to go about product pricing?” and Zack has some great tips.
Two Easy Steps
- First, you must determine your target retail price then decide what you need your margins to be.
- Then, Indie Source will simply help you work backward to find the materials and embellishments that will work for the look of your design and your target price.
Of course, there will be some intricacies in this process and it might be a bit challenging at first to find the perfect target price. However, through trial and error, you will gain a better understanding of your company’s demographics.
Getting In Retail
Zack helps anyone looking for guidance on how to get their products in retail. Here are some quick bullets to get you in the right direction:
- The first step is to determine which stores make sense for your brand. What is your demographic and where do they shop?
- Then, make a list of all the stores you’d like to be carried in so you are ready to show them your samples.
- Have a sales pitch prepared along with a line sheet.
- Finally, our favorite piece of advice from Zack is what to do if you are turned away from a store. If they refuse to carry your clothes, always find out why so you can adjust your future collections to accommodate their needs. And that’s it!
More to come
We are very excited to introduce this series to you guys. Direct advice from our CEO Zack Hurley every week Join us every week for more advice from the man himself. In the meantime, like always, continue to build your dreams every day.