The “Will it Work?” Feasibility Workshop
“I’ve got this fab idea…Now all I need to do is to ensure it will profitable before I launch it!”
WHY DO I NEED THIS?
You would never get in a bath without testing the water, so why would you launch a product without first assessing how hot or cool the market for it is? No matter what size or type of business you run, performing market research is critical to your overall success. Determining everything from sales and marketing to product development serves as the foundation of the entire business strategy.
Research also informs the creative process. The insights you get from your research can influence your actual product design, as well as pricing and marketing strategies.
Ultimately, the goal is to find a niche, prove your product can sell, and fill the demand.
RESULTS I CAN EXPECT:
Step by step, here’s the process we go through with you. At the end of it, you’ll have a targeted business strategy that’s based on cold hard facts rather than on feelings.
- How to identify a viable business idea, niche and create a targeted strategy;
- How to analyze market research to minimize the risk;
- How to confidently make business decisions to generate growth;
- How to price, cost and manage budgets to plan for profitability;
- Insights into actual product design and marketing strategies.
HERE’S WHAT WE GO THROUGH:
Milestone 1 – Secondary Research – You gather competitor research, shop the market, collect data and much more. I’ll walk you through the various ways of gathering information for us to analyze.
Milestone 2 – Primary Research – You will establish clear goals, gain insight into shopping behaviors, product attributes, demographics and more. Establish research methods and an executable plan.
Milestone 3 – Analysis Worksheet (SWOT) – Get clarity on what your niche is, the problem you’re solving, product offering and market demand. I’ll review and provide any further feedback.
Milestone 4 – Number Crunching. AKA how the numbers add up: merchandising plan (SKUs), establishing retail, wholesale and target costs (to manufacture) and manufacturing budget.
6. Milestone 5 – Vision & Moodboard – I’ll show you how these boards can help you to plan and provide an intuitive way to brainstorm, organize, and play with your research.
HERE’S WHAT YOU GET:
- Smart Goals Worksheet
- List Of Dee’s Favorite Trade Shows
- Competitor Matrix Template
- List Of Government Sources
- Royalty-Free Images Resource List
- Target & Wholesale, Retail Cost Calculator Cheat Sheet
- Trend Forecasting Cheat Sheet
READY TO GET YOUR BUSINESS STARTED?
Hey, I’m Dee, the resident expert at Source My Garment
Author | Founder Good Tee | Garment Manufacturing Consultant
My 12 years’ expertise spans the whole industry, from sustainable product development and offshore manufacturing to project management and business strategy.
If you’re launching a fashion business, and want to do it ethically and profitably, I’m the person you need to call.