Building a profitable fashion brand won't happen overnight without putting the right structure into place.



I'd be showing you the most important elements of building a profitable fashion brand.



This element is powerful, yet neglected, and less understood?



PRICING.



Pricing is the cornerstone of your business growth. It can raise or pull your business down.



Here are 5 pricing strategies to consider before you fix or reevaluate the price for your service or products.



Shall we?



� Cost-plus pricing: Simply calculating your costs and adding a profit.



What will form your cost as a bespoke tailor will be different from a ready to wear fashion designer.



To get your service or products selling price, simply calculate the cost and add your own profit to it



Am I making sense or killing sense? �



I guess I'm making sense.



This is just a tip of the iceberg.



What you will be learning should you read to the end will skyrocket your fashion business growth.



And money won't problem anymore after implementing what will be learning from this post.



Let's move to the next pricing strategies.



� Competitive pricing: This method of pricing is setting a price based on what the competition charges. In other words, setting your price based on your competitors' charges.



Know your competitors.



You may patronize them to Know them better.



� Value-based: This is setting a price based on how much the customer believes what you're selling is worth.



Make a research on how much your competitors charge for the service or products within your immediate business environment. Or the market you want to sell your products or services to.



� Price skimming: It's setting a high price and lowering it as the market evolves.



MTN is an example of this pricing strategy. I could remember my dad and my boss bought their MTN Sim card at a bonanza price of N6,000.



Today, how much does MTN sim card cost?



It cost absolutely free. They're now begging people to take it for free.



What happened?



The market evolves.



� Penetration pricing: It's setting a low price to enter a competitive market and raising it later. The essence of this kind of strategy is to gain your market share and increase your price after gaining market trust.



Most times, it's not what we don't know that's preventing us from building a profitable fashion brand; It's what we know that just isn't so that creates roadblocks to our fashion business success.




I see some fashion business coaches prescribe a one-size-fit-all pricing strategy. Without considering its effectiveness in the audience's environment and market.



That's not in my own case as a fashion business coach.



I know pricing strategies work differently in different environments. And the effect on individuals defers.



Choose a strategy that best suits your market.



A one-size-fits-all pricing strategy will send your fashion business to an early grave.



Choose wisely.




I'm a fashion designer and fashion business coach. I help startups and struggling fashion designers to gain financial freedom through fashion.

�Is The Fashion industry Saturated or Broad?


I laboured for over 14 years in the fashion industry without having much to show because I was unable to answer the above question when I started my fashion business in 2006.


This question is not only limited to the fashion industry, but I'm using the fashion industry as case study because I'm a fashion designer. And my story resonates with questions.


You must understand if your intended business or business is saturated or broad, in order to take that business to a greater level without struggling in vain.


You can only get answers to this question only if you're patient enough to read to the end.


I'm about to expose the secret why I laboured for over 14 years without having much to show for it.


I'll be sharing my failure and what I have learnt in the process with you, in order to avoid such for your fashion business growth.


We concentrated much on successful people to derive business lessons but paid little or no attention to those who had failed in our industry.


But the most interesting thing with people who have failed is that we study the reason behind their failure, so that we can avoid it.


And that set you on the path to success because you're informed about the route to take on your fashion business journey.


You can answer the above question if you read this content diligently to the end and apply the business lessons embedded in it.


What you're about to read was drawn from not only reading business books. But rather, the assortment of my personal business experience and research in finding solutions to my fashion business problem.


I started learning fashion designing in 2001 when I was in JSS 2. I chose to learn the craft by myself without being forced by my parents.


I was so passionate about the skill to the extent that I almost dropped out of school while I was in JSS 3. But my parents prevented that from happening. They insisted I must combine the learning of skill with my education. Alhamdullilah, Today I'm not only a fashion designer, but a graduate of Accounting.


As a young energetic,enthusiastic and passionate young boy, my attention was on the technical skill of the craft. Less did I pay attention to the business skill of the craft.


Fast forward to 2006 when I gained my freedom to practice on my own.


My freedom never came easy because I was a skillful,hardworking and trustworthy apprentice. My boss was not willing to let me go not because he doesn't to be my own, but of the qualities I possess.


It took my parents time to convince my boss to grant me the freedom.


To succeed in business goes beyond gaining proficiency in the technical skill(s). If you're not good in the business aspects of the skill(s), you're doom.


I carried the same mindset of that of an apprentice to my own territory as my own boss.


Pay me any amount, and I'll give you the best of the best job. What was paramount to me as at that time was customers' satisfaction.


I give out value to my customers, even at the expense of my business and personal growth. Less do knew I was shooting myself on the foot.


Don't get me wrong. I'm not saying customers' satisfaction is not paramount for business growth. It's paramount because that's what attracts the money.


But, If the time and energy you're investing in providing such values is no in congruent with the money or value you're receiving, you will end up broke. And will struggle financially.


I'm assuring you. Sooner or later, you'll run from your job like rats run away from cats.


You'll hate your business with the same passion that brought you into the business, if your inflow is not justifying your outflow(time,energy and expenses).


You need to to work on your pricing, if you must continue in business.


If you suck in price your business will suffer financially. And you won't have the capacity to manage your business risks when they show up. Which is inevitably.

Another aspect you need to take note of is - I can do it all by myself syndrome.


This syndrome cost me a lot. And was one of the reasons why I Laboured for over 14 years without having much to show for it. I'm not saying - I have nothing to show for it, but less.


But I would have achieved more if I was able acquired the business knowledge I have today, when I started my fashion business in 2006.


If I was able to gain access to the kind of content you're reading now, Sim Fashion would have to be one of the renowned fashion in Nigeria, probably in Africa.


When I was started out, I knew less about building a brand and I paid less attention to teamwork.


I believe in individuality, I had confidence in myself and my proficiency in my skill. Yet I know little that my technical skills can only put food on my table, but the skills alone won't take me to where I aspired to be.


I was trained in the sewing of men's wears and embroidery design. Embroidery designing is a business line on itself in the fashion industry. Yet I combined it with sewing skills.


I was skilful in these lines of fashion that I felt I can do all by myself.


I hardly give my work to apprentices or any other person who was capable of giving a helping hand. I do all the work by myself, even at the expense of keeping promises with my customers.


I believe that money pursues value. But unfortunately, my definition of value was making a perfect job, without considering other values embedded in the value itself.


I realised there was fire on the mountain when I started losing my customers to my competitors and gaining new customers was a tug of war.


I was frustrated, I felt like the fashion industry was getting saturated. But I can see other fashion designers doing well in the same industry. Why was mine different?


Why me?


The light was diminishing, it looked obvious to me - staying in a room whose light was diminishing is dangerous. Staying too long in such a room is dangerous because going out of it won't be easy when the light is completely gone.


I would rather get out of the room before the light is gone completely.


I took the bull by its horn. I purchased an HND form to continue studying Accounting from The Federal Polytechnic Bauchi. The same institution I was awarded OND certificate.


The aim of such action was to escape from the room (the dying fashion business). I felt that was a wise decision


Instead of staying with the problem, analyse, discover and solve the problem(s). I was planning to run away from reality instead of facing it.


However, the truth is that - cutting off the head is not the solution to headache.


How long have you stayed with your problem(s)?.


Would you rather run away from it or fix it?


Going back to school was one of the best decisions I have ever made. But its purpose was faulty.


My plan was to quit my fashion after graduation to join the labour market.


I met with Mr Sulaiman Ibrahim, the CEO of Prestige Home of Fashion, now my mentor. Having known each other for long.


We had an interesting chat. He told me how far he had gone in the fashion business. And how his fashion business is moving in his favor. His success is obvious, he had added lots of awards and recognition to his name. He's clothing luminaries he had never thought he could cloth.


And that inspired me. He opened my eyes to how lucrative the business I was planning to leave was.


I left his office filled with hope and energy to push harder as the time the going was getting tougher.


Pushing harder on the wrong path is as good as not pushing at all.


I took my time to analyse what went wrong. Where did I miss it?


I was able to figure out that I was solely trying to satisfy everybody. Not knowing that everybody wasn't my customer.


Give me an embroidery design job and I'll do it to the best of my ability as if that was my sole area of specialisation.


I was sewing men's outfits excellently and my embroidery design skill was top notch.


I was unable to figure out at the initial stage as a fashion designer on which of these skills to focus on achieving the optimal result.


Unfortunately, I was blindfolded by the instant gratification. I accept any job that comes my way, without considering which of these technical skills could take me to my dream path.


Success or goal is a process, the end of one success or goal is the beginning of another.


Money was the only ingredient I thought could spice up my journey to greatness.


I was spending my fortune without considering a break in my business cash flow any time soon.


Planning for the future was out of place because I was comfortable with the peanut I was getting from the embroidery designing.


Spreading my time and energy over embroidery designing and tailoring skills.


I was overwhelmed by the job that was coming from these lines of business. I carry out my job without outsourcing because I have the required skills. But lacking the time to meet up with promises.


I just wanted to get all the money for myself, instead of focusing on tailoring and outsourcing for embroidery designing or designer.


The fashion industry is broad, doing all the work by yourself won't take you far. You need a team, you need to outsource when necessary.


Repeat your customers, give them the best they deserve and make sure your inflows justifies your outflows.


I learned my lesson in a hard way, act on this piece of advice to avoid such.


I value my customers, they're my ambassador and my mouthpiece. They communicate to my prospect. Word of mouth advertisement is the best means of gaining prospective customers.

It's not how many years you live. But how impactful they were.



You can't give what you don't have, you can't have what you were not given and some people must be the giver.



My experience with Manjaja Difur was awesome. It may take me 30 days reading books to have all the lessons I had with him in his business meeting hosted in his office today. He disclosed secrets you won't get from other business coaches. The meeting was profitable to the extent that money exchanged hands. He pre ordered my ready to wear men's outfit and I pre ordered his book as well. It was a win-win scenario.



Though the business training was free. Everything about the training was free - free food, free drink, and business secrets. All these for free. What a generous coach.



Another plus to the training was the physical meeting of Nufaiyl Babankanwa Hassan after a while. I knew that another business idea was yet to be unveiled. This is because when two good heads brainstorm, it produces exceptional output.
I asked him to accompany me to a logistics company close to Manjaja's office, to send some outfits to a customer living in Lagos.



It was my first time using the logistic company. But that wasn't the first time sending products to a customer in Lagos.



Why did I change my delivery channel?



The quest to create more comfort for my clients brought about trying a new logistics company.



This new company customer service and packaging were topnotch. Their packaging alone can make you order for products sold in your immediate environment because of their packaging.



I wasn't thinking about the service that took me there in the first place. My attention was switched to the customer relation and packaging. They gained my trust instantly. And I believe my customer will get the best experience with them as well. The service fee was higher than what I used to pay, but I enjoy the experience.



You're not only selling products or services, but
experience.



In SIM fashion, We go beyond providing quality and service to customers in the comfort zone. I make sure customers get more worth than they paid.



Moving from there was another journey with my dear friend to my mentor in the fashion industry office. The person of Suleiman Ibrahim, the fashion Icon. He welcomed my friend and me warmly. They chatted like a long time friend. We discussed a lot about the fashion business. This is a story for another day.



He appreciated my effort in helping fashion designers. Afterward, he enquired about my proposed online fashion business school. And want to know more about the program. He was excited after I gave him an insight into the program.



He reiterated his support for my program and asked not to hesitate to reach out to him if I need any assistance.



My day was optimally spent.


I all have 24 hours in a day. But whether we live it to the fullest depends on what we achieve with it.



Your 30 days is someone's 1 day. And your 1 day is someone's 30 days.



We only live once.



Let every moment of your life count.

HAVE YOUR FASHION DESIGNS IN YOUR POCKET.

Here is an e-magazine that contains 50 unique and stunning senator and kaftan designs you wouldn't want to miss.

Click the link below to get it For FREE. �

https:///2ZTeeJ6

I'm a tailor, I clothes cute men in their comfort zones.

Your dressing affect your inner world. Dressing for success attracts success. Be intentional with your dressing. - Sim Fashion

[b][/b]MY EXPERIENCE WITH MY FIRST ONLINE CLIENT.


If you are dealing in physical product. Especially, fashion products like outfits.


Know that your fight is different in Nigeria.


That's why you need to read this content to the end. You may also invite your friends to join in reading.


There is love in sharing. I'm sure that you would like to help your family and friends' business growth.


Shall we?


I was relaxing to regain my energy after a busy day. My phone rang, and looking at the screen was a strange number. I picked the call - Hello, good evening. Am I speaking with Sim fashion, she said.


Yes you're speaking with Shafiu Mashood, the CEO at Sim Fashion, good evening,ma. I replied.


She continued. I saw your advert on Facebook marketplace. I love what I saw and I'm convinced to patronise you.


Wow, thank you, ma. I replied joyfully.


She wanted me to make 4 outfits for her. And she asked me about the mode of business transaction.


I told her- I operate on the basis of payment before delivery. Hoping that she will pay immediately for the 4 outfits.


Unfortunately, she resisted. She insisted on payment at the point of delivery. That


wasn't a good idea for me.


It wasn't because my uncle who was working with a logistic company had warned me prior to our conversation, not to operate on payment at the point of delivery.


His Reason was- most people are not serious to receive orders when they have not committed financial obligation.


From his experience most people resist taking up their orders. Even when they are called, they still don't pick the calls when they know is from a logistic company's staff.


I was in a state of dilemma. She wasn't the first to request for such. Many prospects have requested such mode of payment, which I decline.


Should I also let her go like previous prospects?


Lots of thoughts were flowing through my mind.


After she hung off the phone on me because I asked her to make pay before delivery. She wasn't okay with that


What if she refuses to take up or reject the order?


I called her back to inform her that I have accepted the deal. We have agreed on the price and the mode of payment.


Another issue is she didn't want the products to be delivered by proxy, she wanted to bring it by myself.


As at the time of the conversation, I didn't know where she was calling from. I patiently listen to her.


She asked me how many hours journey from Jos to Kano. I replied - 3 hours Ma. And she told me she will be in Kano on so so date, which she want the outfits to be brought to her in Kano on the stated date.


I accepted her request, and I was willing to take a risk just to gain her.


The date she chose fell into the fasting period, the month of Ramadan.


For those that live in the north, know that the month is a busy month for fashion designers.


Traveling in such a month and fasting at the same time, to deliver products to a prospect was a huge sacrifice.


To cut the long story short.


We met at the Mallam Aminu Kano international Airport. She transferred the money the money to my as agreed, without checking the outfits thoroughly.


I was excited that she didn't reject any of the products.


We departed. I received her call immediately I got to Jos. She called to informed me she has arrived home and sha had checked the outfits. She loved what she saw. She was excited on the phone.


Moreso, she asked how can my products get to her in Lagos wherever she is in need.


I told her that won't be a problem. You can always order for my product (ready to wear men's outfits). And I will get it delivered to your door step using the courier service.


Sometimes you need to take a huge risk to gain a customer. Especially in the online economy. Most people are not willing to give their money to a stranger without seeing that order for.


I paid the supreme price to gained her, but it worth it. Online customer acquisition is not an easy task. And retaining them is what I don't joke with.


However, payment before delivery is perilous because some people will order for what their not will to pay for. They will place order and won't collect the order when it gets to their location. Let alone paying.


That has been a challenge selling online.


That's why I restructure my business model to 50% payment before delivery and 50% payment at the point of delivery to avoid a story that touches the heart.


You can also restructure your business model to suit your targets.


Business is a process. Keep restructuring towards your business growth.