Excellent presentation. Another thing that I do when pricing my products is I look at both the "street value" meaning what people will pay and I look at what other businesses are charging for the same or similar products so that I can position myself in a competitive market.
I don't upcharg on garments to stay competitive plus telling this to customers and showing them the wholesale website makes them feel great and they keep coming back to me for work.
1) Sir Designs are made here. The EMB and DST file are available at a reduced price.(2) We also provide software(3) We also teach software, full class in 15 days. (4) If you have any images or designs, we also make.contact number +917503611461
Hi Janis! Thank you for the love. We recommend you checking out this free pricing calculator we created in order to help! -----> ricoma.com/US/profit-calculator
First thing a customer asks is “how much” with out actually having a set up or stitch count and if these customers are recommended by a another customer they say you charged him £5 why £7 to me. To make my life easier i have just come up with minimum order and set price for each job for £6 per embroidery. I also made guide for prices: £6 for basic, £9 for detailed logo etc. I stopped taking few item embroidery orders, as adding the set up costs and the profit margins, the job becomes expensive per item and then they dont want to buy it, also some leave negative reviews on google and effect the business in bad way. Soon ill loose my mind because of customers who dont want to understand how things work and just keeps asking how much this how much that.
It’s completely understandable why you’ve chosen to stop taking small orders; the setup costs and time simply aren’t worth it, and managing expectations from the start can help prevent those frustrating experiences. You’re doing everything you can to protect your business!
Appreciate your advice and guidance. I am just entering the embroidery business - just purchased a Jintel - but need to learn everything. Any guidance helps, ie, training courses, maintenance courses, etc. Great video!
There is a few things we suggest. First subscribe and look through our channel. We have a lot of useful videos on almost everything. From embroidering on different items to running an embroidery business. Second join our facebook group: facebook.com/groups/embroiderymastery/ There you can talk with thousands of apparel decorators and have all your questions answered. Lastly make sure to comment on our videos and let us know what other topics you would like us to tackle. Hope this helped.
I see a couple of flaws. I don’t like the magic number theory. One should ask. What do you want to make a year? 65,000? 75,000? Or whatever. Now add in all your overhead cost. This is what you need to make per year. Now take that number and break it down per week. Take in account for holidays, vacation time off. Machine failures or anytime you can’t produce product because unseen variable. You can’t be billable every week of the year. I would take your yearly cost and divide it by 48 weeks. Now you kinda know what you need to make each week. Now you need to figure out how many hours per week In actually time that your machine is running not all the prep time or down time. You might be in the shop for 40 plus hours or more, talking with venders customers or whatever that’s not actually bill time. So its really like 20 or 30 hours per week? Take your weekly cost divide by 20 or 30 hours. This is hourly cost. Now depending on the item and how many you can finish in one hour, this how you’ll come up with the cost per item. Long the short of it.
Hi! I saw your video and you have explained the pricing technique very nicely and scientifically. But this is generally helpful for people who are in embroidery business. Can you please lend a piece of advice in my case too. I am an educationist by profession and doing cross stitch is my hobby. I have recently completed a cross stitch work (18.28 X 13.71 inches; 46.45 X 34.83 cm; 256w X 192h). It took me 11 months (roughly 330 hours) to complete. A completely handmade item and consisting of 48 colourful shades. I am absolutely ignorant about how to fix a price of it. Kindly help me please in this regard.
Hello, since we sell embroidery machines that is our speciality topic. We help people who are starting embroidery business. But thank you for the watch!
you Said if the polo cost $5 To add it to the $10 Where is the profit for the blank Polo? $5 for the polo, is your wholesale price you should add a little extra to be sold at retail :)
Hi there, while we do not have anything to do with hand embroidery you can still use our method for pricing based on time instead of number of stitches.
Having trouble signing up for the newsletter. The link isn't working. I've been binging on all your vids for a week or so now. Definitely thinking about an EM-1010!
Have you tried visiting our website and signing up for the news letter from there? If not feel free to reach out to us on social media and we'll be happy to help!
This rule does not take into consideration the demographics of the location you are selling your items. If I have a 35,000 stitch tea towel there is no way I could sell it for over 35.00. In my demographics 10.00 is the magic number. I make this up in volume. I am selling hundreds of these per year and as for my time, oh well it’s better than watching tv.
Thank You For Your Excellent Advice & Guidance on Pricing and Soooooo Many Other Important Tidbits for Success... P.S. GREAT VEHICLE, Waz it A Model 3 or Model Y???
The target number is going to vary from person to person depending on how much the embroiderer is looking to make. But we feel that $50 an hour is a good starting point.
I note that your pricing calculations here take no account of capital costs (buying a machine and what that works out per item over the lifetime of the machine), maintenance and repair costs for the machine, electricity and various other things (waste for mistakes, tools etc.). Please would you advise on this .
Your capital costs and fixed costs are never used in your calculation of pricing per item. Variable cost, such as price per blank garment, materials, etc. are used in calculating your price per item.
@@ricomatv many thanks for replying. So as a business where/how do you factor in the costs of your capital and fixed costs, because these are outgoings that need to be paid for?
@@ricomatv They are assets, but they have to be paid for in the first place and depreciate over time. Plus there are repair and servicing costs. So where does the money come from to cover the cost of the equipment you buy or rent and the maintenance of it?
Hopefully from your net operating profits! But not typical to be have repair and machine cost calculated into a per item cost basis. You can determine what is your profit per item and based on number of items you do in a month you can project your monthly profit, and then set aside a portion of profits for reserves for repairs and maintenance. You can then also calculate how many items you’ll need to produce to pay back your investment on the equipment.
Hallo, thank you for the informative Videos. I really like them. But, I live in Germany. If possible, would you recommend a representative for Germany to me? Thank you in advance.
Hi.I am Ann and I hope you could help me.I am 17,and have started hand embroidery at an early age like 8 or 9 but all I did was like for a time pass.Now I have started receiving orders and I don't know how to rate them. Please help me it would be very very nice if you could convert these into indian rupees.🤗
Hope you could do a video on rating hand embroidery and including something about dealing with it. I wish maybe you could convert these into indian rupee. My first customer was a friend of mine and she wanted it for a cheap rate of 300 rupees and I accepted it.What I did was a simple creation but she wasn't satisfied soo i added some more details but she refused to pay any extras. And I was very sad. If you could do any videos on how to deal with customers would be great for a beginner like me. Thank you so much for responding😍
We have added the links below! Facebook Embroidery & Custom Apparel Mastery Group: facebook.com/groups/embroiderymastery/ Join our newsletter for educational blogs, videos, and live webinars: info.ricoma.us/newsletter To learn more schedule a virtual demo today: ricoma.com/US/virtual-demo Get our latest Ricoma embroidery youtube videos sent straight to your Facebook Messenger!: manychat.com/l2/RiCOMA.us
Excellent presentation. Another thing that I do when pricing my products is I look at both the "street value" meaning what people will pay and I look at what other businesses are charging for the same or similar products so that I can position myself in a competitive market.
Hi Clint! That is an excellent way to approach this, thank you for sharing!
I don't upcharg on garments to stay competitive plus telling this to customers and showing them the wholesale website makes them feel great and they keep coming back to me for work.
Thanks for sharing!!
What wholesale site🤔
I had so many questions about pricing and came across your video and your amazing. Answered all my questions. thank you so much!
Thanks for watching! Happy to hear
1) Sir Designs are made here. The EMB and DST file are available at a reduced price.(2) We also provide software(3) We also teach software, full class in 15 days. (4) If you have any images or designs, we also make.contact number +917503611461
I may one day have the ability to buy a self driving car like yours! ♥️🙏🏼🏎
This really helped because I don’t know anything about how to price embroidery projects.❤️
Glad it was helpful!
Bruv keep going! This is awesome
New to the Business. Good video. Thanks
Amazing channel! Thank you! How would you price a tote bag that takes eg 1.5 hrs to embroider? Thanks for your advice!
Hi Janis! Thank you for the love. We recommend you checking out this free pricing calculator we created in order to help! -----> ricoma.com/US/profit-calculator
First thing a customer asks is “how much” with out actually having a set up or stitch count and if these customers are recommended by a another customer they say you charged him £5 why £7 to me.
To make my life easier i have just come up with minimum order and set price for each job for £6 per embroidery.
I also made guide for prices: £6 for basic, £9 for detailed logo etc.
I stopped taking few item embroidery orders, as adding the set up costs and the profit margins, the job becomes expensive per item and then they dont want to buy it, also some leave negative reviews on google and effect the business in bad way. Soon ill loose my mind because of customers who dont want to understand how things work and just keeps asking how much this how much that.
It’s completely understandable why you’ve chosen to stop taking small orders; the setup costs and time simply aren’t worth it, and managing expectations from the start can help prevent those frustrating experiences. You’re doing everything you can to protect your business!
Your channel is amazing. ❤️
This was very helpful! Thank you!
Glad it was helpful! Thanks for watching (:
Dankeschön 🙋🏻♀️ 🧶 ✂️
Thanks for watching
Appreciate your advice and guidance. I am just entering the embroidery business - just purchased a Jintel - but need to learn everything. Any guidance helps, ie, training courses, maintenance courses, etc. Great video!
There is a few things we suggest. First subscribe and look through our channel. We have a lot of useful videos on almost everything. From embroidering on different items to running an embroidery business.
Second join our facebook group: facebook.com/groups/embroiderymastery/
There you can talk with thousands of apparel decorators and have all your questions answered.
Lastly make sure to comment on our videos and let us know what other topics you would like us to tackle.
Hope this helped.
Thank you I’m new to this and I did a few jobs and broke even or didn’t make much at all for all that work. I bought a Bernina, 535B
You were very helpful! thanks for sharing this.
Glad it was helpful!
I see a couple of flaws. I don’t like the magic number theory. One should ask. What do you want to make a year? 65,000? 75,000? Or whatever. Now add in all your overhead cost. This is what you need to make per year. Now take that number and break it down per week. Take in account for holidays, vacation time off. Machine failures or anytime you can’t produce product because unseen variable. You can’t be billable every week of the year. I would take your yearly cost and divide it by 48 weeks. Now you kinda know what you need to make each week. Now you need to figure out how many hours per week In actually time that your machine is running not all the prep time or down time. You might be in the shop for 40 plus hours or more, talking with venders customers or whatever that’s not actually bill time. So its really like 20 or 30 hours per week? Take your weekly cost divide by 20 or 30 hours. This is hourly cost. Now depending on the item and how many you can finish in one hour, this how you’ll come up with the cost per item. Long the short of it.
Hi! Thank you for the feedback, we truly appreciate it.
Hi! I saw your video and you have explained the pricing technique very nicely and scientifically. But this is generally helpful for people who are in embroidery business. Can you please lend a piece of advice in my case too.
I am an educationist by profession and doing cross stitch is my hobby. I have recently completed a cross stitch work (18.28 X 13.71 inches; 46.45 X 34.83 cm; 256w X 192h). It took me 11 months (roughly 330 hours) to complete. A completely handmade item and consisting of 48 colourful shades. I am absolutely ignorant about how to fix a price of it. Kindly help me please in this regard.
Hello, since we sell embroidery machines that is our speciality topic. We help people who are starting embroidery business. But thank you for the watch!
Thank you for your response. Appreciated.
Heloo miss I m embrodry Designr in pakistan .. I make every one design in wilcome embrodry software
you Said if the polo cost $5 To add it to the $10 Where is the profit for the blank Polo? $5 for the polo, is your wholesale price you should add a little extra to be sold at retail :)
If you want your can do that, or you can just sell it at cost if customer is ordering enough volume.
can you tell me the right price to sell for hand embroidery i wanna sell some TwT
and it does not have 1000 stiches or smth
Hi there, while we do not have anything to do with hand embroidery you can still use our method for pricing based on time instead of number of stitches.
@@ricomatv thx
Having trouble signing up for the newsletter. The link isn't working. I've been binging on all your vids for a week or so now. Definitely thinking about an EM-1010!
Have you tried visiting our website and signing up for the news letter from there? If not feel free to reach out to us on social media and we'll be happy to help!
Hi, I want to prepare a embroidery logo for Tshirt and polo shirt. Can you please tell us how to prepare it for manufcturers?
Hello friends,
Can anyone tell me the current rate of computerised embroidery job work price in INR/1000 stitches?
Need Indian price.
Thanks!
My question is. Will I get enough orders to make enough to atleas break even.
Hi, this totally depends on the machine you have, what garments you are embroidering on, and your business plan.
This rule does not take into consideration the demographics of the location you are selling your items. If I have a 35,000 stitch tea towel there is no way I could sell it for over 35.00. In my demographics 10.00 is the magic number. I make this up in volume. I am selling hundreds of these per year and as for my time, oh well it’s better than watching tv.
Thank you for sharing your feedback!
Thank You For Your Excellent Advice & Guidance on Pricing and Soooooo Many Other Important Tidbits for Success...
P.S.
GREAT VEHICLE, Waz it A Model 3 or Model Y???
Thanks! It was a Model S!
@@ricomatv Yeah I Figured it out Once I looked at the Driver's Door!!!
Thank you
Thanks for watching!
Excellent
Thanks for watching
How do you price a large back embroidery?
Same concept! Have to know how long it takes for you to embroider it to price properly
I have a very hard time of what to charge for each item.
Hi! We recommend checking our pricing calculator out! ---> ricoma.com/US/profit-calculator
Hello Henry. It is a great video but I want to ask you how did you determined your target number?
The target number is going to vary from person to person depending on how much the embroiderer is looking to make. But we feel that $50 an hour is a good starting point.
@@ricomatv even for hats ?
@@ricomatv is $50/hr the industry standard? .. like if I had 10 orders for a patch or to add something to a cap, should I still reach for $50/hr?
good info
Glad it was helpful!
The Tesla flex tho 😅💪🏾
😉👏
I note that your pricing calculations here take no account of capital costs (buying a machine and what that works out per item over the lifetime of the machine), maintenance and repair costs for the machine, electricity and various other things (waste for mistakes, tools etc.). Please would you advise on this .
Your capital costs and fixed costs are never used in your calculation of pricing per item. Variable cost, such as price per blank garment, materials, etc. are used in calculating your price per item.
@@ricomatv many thanks for replying. So as a business where/how do you factor in the costs of your capital and fixed costs, because these are outgoings that need to be paid for?
Those are assets on your balance sheet, not part of income/expenses
@@ricomatv They are assets, but they have to be paid for in the first place and depreciate over time. Plus there are repair and servicing costs. So where does the money come from to cover the cost of the equipment you buy or rent and the maintenance of it?
Hopefully from your net operating profits! But not typical to be have repair and machine cost calculated into a per item cost basis.
You can determine what is your profit per item and based on number of items you do in a month you can project your monthly profit, and then set aside a portion of profits for reserves for repairs and maintenance. You can then also calculate how many items you’ll need to produce to pay back your investment on the equipment.
I'm your new subscriber
Welcome
How can we fix the magic number...
Can you please elaborate...??
Hi there! We have lots more videos on pricing that will help you come up with your magic number: ua-cam.com/video/Yjj9nmkC6dQ/v-deo.html&t
Hallo, thank you for the informative Videos. I really like them. But, I live in Germany. If possible, would you recommend a representative for Germany to me? Thank you in advance.
Yes, absolutely! Click here to be contacted by representatives in your area -> Ricoma.com/us/contact-us
You once gave a formula to give an estimate cost for a design without digitising it
Check out this video we did on digitizing fees! --->ua-cam.com/video/bZIJbzTpKYQ/v-deo.html
What if you do not have facebook?
15 head price in india
We recommend contacting us to see our current options. Here is the link. www.ricoma.us/contactus
ANUP SHARMA hello sir I am from Delhi and we supply Ricoma, please contact me on 9711188817 or vardhmaanautomation@gmail.com
ANUP SHARMA we are waiting for your valuable call or email
Hi.I am Ann and I hope you could help me.I am 17,and have started hand embroidery at an early age like 8 or 9 but all I did was like for a time pass.Now I have started receiving orders and I don't know how to rate them. Please help me it would be very very nice if you could convert these into indian rupees.🤗
Thank you for watching! Congrats on your business!
Hope you could do a video on rating hand embroidery and including something about dealing with it. I wish maybe you could convert these into indian rupee.
My first customer was a friend of mine and she wanted it for a cheap rate of 300 rupees and I accepted it.What I did was a simple creation but she wasn't satisfied soo i added some more details but she refused to pay any extras. And I was very sad. If you could do any videos on how to deal with customers would be great for a beginner like me.
Thank you so much for responding😍
Those links are not working
We have added the links below!
Facebook Embroidery & Custom Apparel Mastery Group:
facebook.com/groups/embroiderymastery/
Join our newsletter for educational blogs, videos, and live webinars:
info.ricoma.us/newsletter
To learn more schedule a virtual demo today:
ricoma.com/US/virtual-demo
Get our latest Ricoma embroidery youtube videos sent straight to your Facebook Messenger!:
manychat.com/l2/RiCOMA.us
I'm new subscriber how much the machine cost
Depends on the machine you’re looking for! To speak with a product specialist, get in touch here: ricoma.com/us/contact-us
Hello friend where are you from?? Do you know about embroidery job opportunities in brampton, canada?? I actually live in brampton
Do you have any experience?
Paric
Please
We recommend contacting us to see our current options. Here is the link. www.ricoma.us/contactus
whos driving that tesla lol
nice video
The Tesla can drive itself lol!
Helo
Hello, to learn about our machines in your area, click here and fill out the form to be contacted by your local distributor, ricoma.com/us/contact-us