The Next Leap Question and Answer
Pictures to me is the best representation to showcase what type of fabrics I will be using. All of them are pure 100 % cotton from Italy. If anyone of you are interested in it, feel free to contact me.
This is the finished product.... Shirt.. Well tailored to fit shirt, make perfectly to perfection.
Question & Answers:
I decided to answers some queries after friends started to wonder .. will the capital be enough to sustain the operating cost etc..
a) How are u going to start off with start a small capital?
Well, management and knowing where to find cheaper operating alternatives is one of the factor, etc printing of name cards, having friends from developing countries during my studies in aussie helps. Developing countries charge cheaper for printing of simple name cards brochure.. etc Unless I need it urgently...
TIP: If you understand printing charges of example vietnam, thailand malaysia plus their postal rate you will know how much u can save from. With the internet, everything can be as easy as ABC.
b) How .. explain more just with $1500 is quite hard to believe??
Well, in business u need connections and contacts. THIS IS VERY IMPORTANT! Beside u are rich or having a huge capital, ask those successful entrepreneur, they will say contacts is more important. I have contacts and access to wide range of awesome fabrics in first hand, and expertise in some areas.
Furthermore, u need to understand yr market inside out.
c) Sounds like a scam?
Believe or not, I am going to prove to my readers. I have a plan which is 4P, one of which is promotion. My promotion will be using my friends and giving free shirts as a form of Promotion to them. They will be getting free tailored make shirts each. Friends to me is of paramount importance as they are the first point of contact to help u spread the positive Word Of Mouth. With this help, the rest will be easy. Lastly, a business need to have a goal of doing it for the long run. Think future think far.
d) S$1500 can't really buy u much materials?
Contacts come in handy, when you are able to negotiate a credit term. For example when a customer placed an order 50% of the deposit is being paid. Materials are then being bought on credit terms of 15days, within this period there is absolutely not much cost except manufacturing cost. Hence, the amount is being used to pay for the manufacturing cost. Within the 15days your product is done n send to your customer and he pays full amount. Hence, reducing the risk of getting into financial problems.
Sounds easy, not that simple.
e) Whats your actual strength?
Well, economics of scale this is my secret. Keeping operating cost as low as possible.
f) Who do you compare your direct competitors with?
Actually, mine is a budget fashion carrier so there is not much direct. However, there are heaps of indirect competitors, to name a few they are Raoul, Hugo Boss, CYC and departmental stores.
g) Whats your price range will be?
Based on current estimation will be >=80 and <100
h) That’s not really affordable then...
Setting price is an aspect of branding and standards. I would prefer setting standard to be sort of like high end tailoring companies or branded retail outlets. Obviously, I can’t match their well know prestige brand. My tactics will be using value added services like customize service, in house service. Not to mention quality fabric and make to measure. I can assure you that no such tailor in Singapore won't charge that cheap then mine. Between 80 and 100 is still considered cheap in Singapore.
i) But compare to Thailand or Malaysia yours is still higher!
You can't compare as their cost of living is much lower and their workers get paid much lower. Why don't u can compare to aussie, states, or UK. I can’t offer you their rate as I have to be financial sustainable in this competitive industry. (Hint: If you love my fabrics I do sell it as well.)
j) There’s a sale at a branded outlet selling at S$70, how are you going to counter offer?
Sale is known as Invitational to Treat, people who know this phase will know what it actually means (Hint: Search Wikipedia).
In today modern society, most products are made in developing countries. Costs are lower and affordable. The fact that most on SALE items offered by retail outlet are left over and out of sizes goods. They are still earning despite it’s a SALE.
The House will never fluctuate their prices to match Great Singapore Sale or others. We believe customer have brains.
I decided to answers some queries after friends started to wonder .. will the capital be enough to sustain the operating cost etc..
a) How are u going to start off with start a small capital?
Well, management and knowing where to find cheaper operating alternatives is one of the factor, etc printing of name cards, having friends from developing countries during my studies in aussie helps. Developing countries charge cheaper for printing of simple name cards brochure.. etc Unless I need it urgently...
TIP: If you understand printing charges of example vietnam, thailand malaysia plus their postal rate you will know how much u can save from. With the internet, everything can be as easy as ABC.
b) How .. explain more just with $1500 is quite hard to believe??
Well, in business u need connections and contacts. THIS IS VERY IMPORTANT! Beside u are rich or having a huge capital, ask those successful entrepreneur, they will say contacts is more important. I have contacts and access to wide range of awesome fabrics in first hand, and expertise in some areas.
Furthermore, u need to understand yr market inside out.
c) Sounds like a scam?
Believe or not, I am going to prove to my readers. I have a plan which is 4P, one of which is promotion. My promotion will be using my friends and giving free shirts as a form of Promotion to them. They will be getting free tailored make shirts each. Friends to me is of paramount importance as they are the first point of contact to help u spread the positive Word Of Mouth. With this help, the rest will be easy. Lastly, a business need to have a goal of doing it for the long run. Think future think far.
d) S$1500 can't really buy u much materials?
Contacts come in handy, when you are able to negotiate a credit term. For example when a customer placed an order 50% of the deposit is being paid. Materials are then being bought on credit terms of 15days, within this period there is absolutely not much cost except manufacturing cost. Hence, the amount is being used to pay for the manufacturing cost. Within the 15days your product is done n send to your customer and he pays full amount. Hence, reducing the risk of getting into financial problems.
Sounds easy, not that simple.
e) Whats your actual strength?
Well, economics of scale this is my secret. Keeping operating cost as low as possible.
f) Who do you compare your direct competitors with?
Actually, mine is a budget fashion carrier so there is not much direct. However, there are heaps of indirect competitors, to name a few they are Raoul, Hugo Boss, CYC and departmental stores.
g) Whats your price range will be?
Based on current estimation will be >=80 and <100
h) That’s not really affordable then...
Setting price is an aspect of branding and standards. I would prefer setting standard to be sort of like high end tailoring companies or branded retail outlets. Obviously, I can’t match their well know prestige brand. My tactics will be using value added services like customize service, in house service. Not to mention quality fabric and make to measure. I can assure you that no such tailor in Singapore won't charge that cheap then mine. Between 80 and 100 is still considered cheap in Singapore.
i) But compare to Thailand or Malaysia yours is still higher!
You can't compare as their cost of living is much lower and their workers get paid much lower. Why don't u can compare to aussie, states, or UK. I can’t offer you their rate as I have to be financial sustainable in this competitive industry. (Hint: If you love my fabrics I do sell it as well.)
j) There’s a sale at a branded outlet selling at S$70, how are you going to counter offer?
Sale is known as Invitational to Treat, people who know this phase will know what it actually means (Hint: Search Wikipedia).
In today modern society, most products are made in developing countries. Costs are lower and affordable. The fact that most on SALE items offered by retail outlet are left over and out of sizes goods. They are still earning despite it’s a SALE.
The House will never fluctuate their prices to match Great Singapore Sale or others. We believe customer have brains.
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