So, I want to start off by apologising for not posting in my blog for over a month! It has been extremely busy and I needed to focus on not just my business but also my family! But I'm back and hungrier than ever for success!
I have been working on my sales forecast and cashflow. Now, anyone who knows me, will tell you that maths is not my strong point! Don't get me wrong, I can count but I definitely do not enjoy doing it! However , in the words of Dr Dre, 'You can do it, Just put your back into it'! And that is exactly what I did! You can do anything you put your mind to. You just have to believe that you can!
First of all, I had to work out how much it would cost to make one garment. To do this, I had to add up my manufacturing costs, design costs, custom taxes, shipping costs, packaging costs and divided it by how many garments I would be buying. Once I had my cost per item, I could then decide how much I would sell my garments (retail price) and also my wholesale prices to sell to boutiques and stores.
After doing all of this, I was then able to predict how many sales I would have to make each month, both retail and wholesale.
I have to say this part was the most difficult as predictions are just like putting your finger in the air and seeing which way the wind blows???!!! It is anybody's guess how well your business will do! But after 3 attempts, I finally managed it and I can say, it was difficult but now I know I can do it! Finally, I have my sales forecast!
I am now focussed on getting my samples made. I have decided on how many pieces I want to make into samples and what styles. As I am starting small, I have only 10 designs and they are all in the style of Long Sleeve tops, Hoodies and Sweat Shirts as my collection will be launched in the Autumn/Winter season.
There are a couple events I am putting together:
Mini Men UK Ltd is on the look out for mums with sons between the age of 2-12 years old to attend a focus group which will be held in Epsom, Surrey. We will be show casing the new collection and getting feedback from our target audience. Finding out what they like and dislike about the clothing and gift boxes. Also how much they would pay for the items.
Also, we are scouting for models for our first photo shoot! We need models from all nationalities and backgrounds aged between 2-12 years old, to model the different garments in order to create our leaflet, posters, look books and website.
So if anyone is interested or knows someone who would be interested in any of these events, please do get in contact with me at kmantas@hotmail.co.uk
On a final note, I have finally created my Mini Men UK Facebook page! Yay!!!
Please like my page! Go to www.facebook.com/minimenukltd
Thank you!
