16/04/2023
Price 101- Continuation
2)Do more
If you want more,you have to do more.
To earn more money,you have to put certain things in place.
How is your garment finishing?
How is your work presentation?
How do you package your finished garment?
Your target market will pay your service worth. No one will pay more for less. Your customers will only pay higher for high service. So you have to do a high quality job,do more to price high.
3) Take calculated risk
To make more money,you must be open to try out new things. Most of us don't want to leave our comfort zone,we don't want to try out new things,new method of garment construction and finishing. Yet we want to price high. Do you know fashion is not constant?
Taking calculated risk is prerequisite to making more money.
When you take calculated risk,you stand a greater chance of making more money.
If you don't go out of your comfort zone,you won't make more money
4)Expand your business
If you want to price correctly,you must be willing to expand your business.
You can't give an high price if your business is thesame for years without expansion. Don't get me wrong,you must not break the bank to expand your business place. Little packaging can create a huge difference in that business
5) The right location
You can live anywhere,but you can do your business anywhere, because your business location determine your pricing.
Thesame skirt and blouse that tailor A will sew for a customer for 3k at X, another tailor B will sew for her own customer for 25k-30k at Y. Note,both X and Y is in thesame Gwagwalada o. The difference between tailor A&B is their location,and their packaging.
If your target market are rich customers,that can pay for your job,then you have to plant your business in a location where they can see you and patronise. They won't come into that place where you are hiding,and even if some of them come,they will only come to patronise you out of pity,and pay you less for your job considering your location.
If you can't to price high,change to a good location.
Business is a about risk,don't be scared of taking a risk by changing your location