Do you have questions about the custom apparel industry? Join us as Henry Ma answers your embroidery questions and offers tips to overcome obstacles in your business journey.
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00:00 - Introduction
01:09 - How hard is it to learn how to digitize?
03:41 - How do you go about tracking your expenses and revenue?
05:04 - How do you price patches?
The first question Henry tackles deals with digitizing and how difficult it is to learn. Many new embroiderers are hesitant to digitize their own designs because they believe it is too difficult. In this video, Henry unpacks this common misconception and explains why digitizing is no harder to learn than any other new skill. He also explains why learning to digitize is NOT a prerequisite to learning how to embroider.
Next, Henry explores the best methods for tracking business expenses and revenue. He explains why decorators don’t necessarily need to use an accountant when starting out, plus the first step every new business owner needs to take to keep their finances organized.
Finally, Henry explains how to properly price your embroidered patches. He explains why generic, one-size fits all approaches to pricing your embroidery - like the stitch-count rule - fail to account for the time and materials that go into every embroidery project. Afterwards, Henry shares his preferred pricing formula for maximizing profits on every embroidery project.