January Pearle Giveaway

 

Congratulations Sandy Allen for winning the Watermark giveaway! This week we decided to giveaway one 18″ x 21″ quarter cut bundle of our Pearle line. To enter to win, all you have to do is comment this post.  You can also comment any link of this post on our Facebook page for an extra entry.  

*Contest ends February 6th, 9:00 am EST.  Open to US residents only.*

 

Pearle giveaway

 

 

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Tales Of A Fourth Generation Textile Executive: Minimum Order Quantities Discussed

Good Day Studioe Fans,

 

I wanted to take a moment to enlighten you about our minimum order requirements for our companies and discuss why we have them.  For Studioe, the minimum order quantity is 5 bolts per shipment.  On reorders, the minimum is 3 bolts.  Our other quilt shop only companies, the Blank Quilting Corp. and Henry Glass have the same minimum requirements.  As for A.E. Nathan, there is a 6 bolt minimum order. Just like our quilt shop customers, we too have minimum order requirements set by all of the different fabric mills that we do business with when we place our fabric orders. These minimums are in the 1000’s and by meeting these minimums, we show the fabric plants that we are serious about business and we are a viable customer.   

 

Tales Of A Fourth Generation Textile Executive:  Minimum Order Quantities Discussed

 

Why do we have minimums for our quilt shop customers?  What you need to understand is that we are trying to run a business that serves serious customers who are active and have no problem meeting the minimum order requirements. In addition, we are in business to make a profit….like most businesses.  

 

A better way to explain why we have the minimum order requirement would be to take the example of a customer that wants to order one bolt of fabric i.e. 15 yards. This ends up being a sale under $100, but for this example, let’s just say it costs $100.  We obviously aren’t making the full $100 as there is a cost to actually produce the fabric. So let’s say that $50 of that purchase is profit and the other $50 is actual cost to produce and manufacture the actual fabric.  Now listen while I make that $50 disappear like a magician and you can see there is no profit and perhaps even a loss on such a small order.  The truth is that even an order that just meets our minimum is probably not very profitable and may be a break-even.  Here is a list of all the items that help to reduce that profit to nothing:

 

  • We have to pay our sales rep a commission.  Let’s just say it is 10%.  So on the overall $100, that is $10.  On the $50 mark up, that is $5.
  • The reps usually fax the orders to me or one of my associates.  We take the time to review the order and make sure everything makes sense.  That comes out of someone’s time and it does cost something based on the person’s salary. It might not be much, but we are only working with $50 of potential profit.
  • Then we have to credit check the order to make sure the customer is a worthwhile credit risk.  Once again, this does cost more based on the person’s salary.
  • Then our order entry person has to enter the order.  He/she also makes a salary. 
  • Then we have to send the order to the plant and someone has to pull the actual order for shipping.  There is a cost involved with this too.
  • Finally, we have to bill out the order and this may even require a stamp and envelope to bill the customer.  These are actual costs….small, but actual and they add up.
  • As for the customer, the cost to ship 1 or 2 bolts is quite a lot and ends up increasing the price of that bolt dramatically, thus reducing the margin for the quilt shop.  


I think this pretty much sums up the point of the minimum order requirement.  We aren’t enforcing these rules to be difficult, but seriously, if you aren’t able to meet our minimum order requirements, you should consider working with one of our distributors who is more willing to take on these smaller orders.  We are not trying to turn anyone off by enforcing the rules and that is why I am explaining this so people can understand where we come from with these concepts.  I hope this clears things up. Thanks for listening.


Stay Warm & Be Safe, we have a big storm heading our way!


Stickler Scott      

January Watermark Giveaway

 

Congratulations to Sandy K. for winning the Watermark giveaway! Today we’re giving away another set of the 18″ x 21″ quarter cuts bundle of our Watermark line, this time of the lighter colorway.  You can view the entire line on our website here.  To enter to win, all you have to do is comment this post.  You can also comment on any link of this post on our Facebook page for an extra entry.  

*Contest ends January 30th, 8:00 am EST.  Open to US residents only.*

 

As always, follow us on social media for surprise extra chances to win!

 

| Facebook | Twitter | Instagram | Pinterest |

 

Watermark Giveaway

 

Tales Of A Fourth Generation Textile Executive: Weather Issues

Yes, it is Tuesday and I missed my Monday blog deadline.  I am sorry.  The thing is that I have a really good excuse.  I had the stressful pleasure of going upstate with my family to go skiing.  I planned to come home on Sunday to get back to work on Monday and write the most eloquent blog filled with humor, sadness, fear and loads of other emotions. However, after hearing allover the news about the horrible ice on the roads and tons of accidents, I opted to stay for another night in the safety of my friends house.  I hope you can all agree that the safety of my family is more important than a blog…that no one probably reads anyway.

 

In any case, you will be pleased to know that we made it home safely yesterday, but too late to write a blog.  So sorry again.  

I was going to tell you that I took off for Martin Luther King day, but that would have been a white lie.  I stink at lying, so once again, I am giving you the truth.

I will spend the rest of the week working on a sensational blog for next week.  Until then, happy quilting with Studioe Fabrics.

Slippery Scott

January Dark Watermark Giveaway

 

Congratulations to Denise Essex-Mitchell for winning the Rush Hour giveaway! Today we’re giving away a set of the 18″ x 21″ quarter cuts bundle of our Watermark line. This bundle will be of the darker colorway.  You can view the entire line on our website here.  To enter to win, all you have to do is comment this post.  You can also comment on any link of this post on our Facebook page for an extra entry.  

 

As always, follow us on social media for surprise extra chances to win!

*Contest ends January 23rd at 8:00 am EST. Open to US residents only.*

 

 

 

Watermark Giveaway

 

If you aren’t already, be sure to follow us on all our social media outlets for the latest updates on all things Studioe.

 

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Tales Of A Fourth Generation Textile Executive: Markdowns At The Supplier Level & Beyond

I recently was reading through the latest issue of Fab Shop news and I came across a very interesting article from Karen Montgomery where she was giving suggestions on how to manage your quilt shop.  One of the subjects she covered was marking down goods in order to turn slow moving fabric in to cash and reinvest it elsewhere. This made me think about how we manage our markdowns and closeouts so I wanted to share some insights as to how we deal with this as a fabric supplier.

 

Tales Of A Fourth Generation Textile Executive:  Markdowns At The Supplier Level & Beyond

 

Let’s call a spade a spade, when something isn’t going to sell, we usually figure this out fairly quickly.  It’s what we do after that which determines the type of owner we are. Like quilt shop owners, on the supplier level, we too need to deal with the same things. When I visit our fabric warehouses, I can usually can tell what needs to be marked down by the amount of dust on the polybag covers.  I am sure that you can tell when your fabric has been sitting on the shelves too long by how dirty it is, how big the bolt is, how frayed the fabric is or how beaten up the board end is. 

 

From the time that I joined the business, I learned that we aggressively mark goods down.  We usually do this when we take an inventory which could be a couple times a year.  Sometimes we take one big markdown and other times we do it piecemeal. The sooner that you embrace the markdown the better off you end up.  The problem would be if we didn’t take periodic markdowns and just do one big markdown all at once which could be pretty painful and be a big hit to the bottom line.  We prefer to keep things smoother rather than drastic.

 

In any case, when we do ultimately closeout the goods, depending on the price, we may or may not be making money.  The thing is that we already took the markdown, so if it is a gain, we take a gain, if it is a loss, it probably isn’t terrible because we already marked the goods down.  The bottom line is that it is important to keep moving through the slow moving goods and keep turning them in to cash that can be reinvested in new and better places.  No one is so good that every purchase or sale is a winner.  That would be nice though!

 

In business, we need to deal with the problems because that is what brings us down. The good things work themselves out.  Hence, this is why we take an aggressive position when it comes to markdowns and closeouts.  Keep moving and don’t fall in love with fabric….you can always get more.  Trust me!

 

Mark it down & close it out Scott!    

January Rush Hour Giveaway

 

Thank you everyone for entering the Pearle end of the year giveaway, it was our biggest giveaway yet! Congratulations to Anna Lutz-Brown  for winning!  To start the year off right, we’re giving away a bundle of our Rush Hour line. If you aren’t sure what to make with the fabric, Madame Samm’s post will certainly give you inspiration. To enter to win, all you have to do is comment this post. You can also comment any link of this post on our Facebook page for an extra entry. 

*Contest ends January 16st, 8:00 am EST.  Open to US residents only.*

 

 

 

If you aren’t already, be sure to follow us on all our social media outlets for the latest updates on all things Studioe.

 

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Tales Of A Fourth Generation Textile Executive: Happy 85th Birthday To Our Parent Jaftex

I am writing this blog before the year ends, but posting it after, so bear with me.  As the year winds down, there is a lot to think about for next year.  What will my new year’s resolution be?  Last year I successfully gave up soda and will continue on that path. This year, I intend to get back in to shape by running.  What is your resolution?   What are my business goals? The answer to that is obvious, SELL MORE FABRIC.  As a company, our goal is to embrace technology more and complete the integration of The Blank Quilting Corp and maybe even buy another company if the opportunity arises. What are your goals, business or otherwise?


I am proud of how I managed to stick with this blog writing because at times it can be a real pain and a stress.  Believe it or not, I have written over 50 blah blah blogs up to this point.  Go me!  That is an achievement in itself, but the bigger achievement that I want to discuss is how our parent company, Jaftex, is turning 85 years old in 2015. That is 85 years of Fortunoff’s and fabric.  My brother Greg and I are fourth generationers and my dad is a third generationer.  The fifth generation is in place and on deck.  So thanks to great grandpa, Jacob A. Fortunoff….the JAF in Jaftex for starting this business and everyone else in between that contributed.


Speaking of Jaftex, I wanted to give you a list of all the companies that we have had over the years and some that we still have.  How many of them do you know? Probably not so many as most were involved with sleepwear and not quilting like today.


A.E. Nathan Co., Inc.

Andrea Knitting named after my aunt and ironically my mom has the same name.

A. Seril & Co.

Bertenn Textiles (A combo of my dad’s name, Robert, and his cousin Glenn.)

Blank Quilting

Chanteclaire 

E-D Knitting named after grandpa Everett and uncle Dan.

Fabric Editions

Henry Glass Fabrics

Jaftex Corp.

Merrivale

Natural Fabrics

Oxford Printing & Finishing, our textile printing mill.

Peter Pan Fabrics

Rogefort Textile Co., Inc.

Studioe Fabrics

Stylemaker

WOW!  16.  Crazy.


In celebration of the big 85, we are having a contest.  I will attach the flyer for the contest below, but here is the gist.  For every order that you place, from January 1, 2015 to September 30, 2015, that has 15 bolts for a single delivery (or multiples of 15 bolts) you will get a single entry to the raffle.  This applies to regular orders with our sales reps for any of our companies as well as drop ship orders from our distributor partners.  You must be in good credit standing with all of our companies to win.   Here is the kicker, the prizes.  First prize is 85 bolts of 44 inch cottons…say what?  Yup, that is for real.  This is around $15,000 at retail for the winning shop.  We are not messing around here.  The next top 3 prizes are credits for $2,500, $1,500 and $1,000 towards orders with any of our companies.  The bottom 6 prizes are $250 credits.



Thanks for celebrating with us!

Scott