If you’re an embroiderer, you’ve probably noticed that there’s been a steep increase in thread costs recently. This has many business owners worrying about a potential drop in their profit margins. In this episode of Apparel Academy, Ricoma CEO Henry Ma will explain what’s causing this price increase, why he's not concerned about it, and why you shouldn’t be either.
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00:00 Intro
01:12 Why has thread price gone up?
02:33 Why I’m not worried
04:51 Ways to improve efficiency
05:14 Why to ditch the stitch count rule
06:08 Final thoughts
We begin this episode by breaking down the main reasons why the price of thread has increased so dramatically in the past few years. Henry discusses everything from rising inflation to supply chain issues, growing demand for custom apparel, and everything in between. Along the way, Henry also examines how much the price of thread has increased, so you get a better idea of how much you'll need to spend moving forward.
Afterward, Henry explains why he’s not worried about the increasing price of thread. He supports his belief with data about how much the increase actually breaks down to per 1,000 stitches of thread. He talks about how thread and other input costs for embroidery are relatively negligible compared to other apparel decoration methods, which is part of why it’s such an attractive business.
Then, Henry discusses other, more effective ways to save money when running your embroidery business, like getting better or faster equipment. This allows you to increase productivity and profitability. He also reminds you to ditch the ineffective stitch count rule when pricing your embroidery, and provides you with a more effective pricing formula. To wrap up, he gives some final takeaway thoughts to help you understand the rising price of thread and how it might affect your business.
8 июл 2024
