So, you’ve worked out that your idea is marketable – but how do you bring it to market? First things first, you’ll need to engage a factory or contractor to help realize your product. Coming up short on things to address? Never fear – we’ve got the essentials right here.
Production pricing
You’ll need to know how much it is for 12 units, 100 units, or 1000+ units, and you should find out if they do tiered pricing.
Sample pricing
Sample pricing will differ based on the product and the contractor. If you’re doing your production order with the same manufacturer, they may be able to work within your financial constraints, thus ensuring your sample pricing is kept at the lower end of the scale.
Minimum order quantities
Typically, factories will have a minimum order quantity you’ll need to fulfill if you wish to produce your design with them. Therefore, you’ll need to know if you can afford the minimum order quantity, and the price can vary based on the product you’re making with the contractor. In some cases, building a rapport will also impact the final price. You should also investigate if the minimum includes different colorways to avoid confusion down the track: that is, is 100 per color, per style, or simply 100 per style?
Turnaround time
A contractor should be able to advise how much they can make in one week, one month, and so on. This will likely depend on the product in question, and how detailed or complex it is. It’s also worthwhile finding out if the contractor can deliver rush orders.
Payment terms
Often, this will vary for first time and return customers. Return customers, for example, may be able to negotiate around net 15 or net 30 – particularly if you have purchase orders.
Cover Image photographed and credited to Portland Garment Factory.Â
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