Thursday, January 27, 2022

Can you afford to produce the great fragrance you just made?

I was ready to go into production with the "revised" version of Rough Day, the fragrance that had been lacking in personality. Now I had a formula. Now I had a solution. Now I had to order supplies for a production batch or send the formula out to be made for me by someone else. Now I suddenly realized what Rough Day is going to cost to produce.

I have mentioned previously that the "new" Rough Day would make use of Myrrh — lots of it. When I purchased the supply for my tests I bought just enough, because of the cost. From my source, a kilo runs about $3,000. That's enough to give pause.

Now let's look at the problem. I want to produce a batch of the new Rough Day without making any substitutions. Possible solutions? I can plow ahead and invest more money than was my intention. That would be fine if I knew I could sell out at the price I would need to make the deal profitable. Originally I had thought to price the new Rough Day at $45 for a 50 ml bottle, and maybe run a special, limited offer at $35, to get some feedback on the revised formula. But now, confronting the production costs, a bottle will have to sell for from $85 to about $115. This puts it in a whole different market.

Then, as to the bottle. I have a supply of 50 ml sprinkler neck bottles that I favor for men's fragrances. But the new Rough Day could be equally enjoyed by woman as well as men. But at the higher price, and thinking of women, a more elegant bottle is called for. And it should have a spray. That will add even more to the production cost. This now becomes a whole new marketing adventure.

How should I address this new situation? I'll start by scaling back my production goal and make a smaller batch which I'll use for some marketing tests. I may buy some new bottles that will be more elegant than the bottles I have on hand. I'll try some old tricks. Then I'll watch what results come in. If the new Rough Day starts to gain traction, I'll make a larger investment, "take it to the next level." But unless it proves a runaway success (which would be very rare, even for the best of fragrances), I'll take it "up" in measured steps. This is the plan.

1 comment:

  1. I too am having the same problem. Great post and I hope all pans out well for you your fragrance.