May '18

For the Business of Apparel Decorating

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2 0 1 8 M A Y P R I N T W E A R || 21 in one scenario. If you are unable to find a buyer, you will have very little to show for your business when you no longer want to run it. Businesses are sold successfully in this industry, but it happens less frequently than one would hope. It is just as likely that some- one buys their own equipment and opens up a new business in your area instead of buying an existing business. While the immediate benefits of paying yourself are obvious, the long-term benefits should also convince you that you need to price your work so that you can pay yourself and your staff a reasonable and consistent amount every week, every other week, or every month. If you believe that your customers will not pay a higher price, think how you would feel going to their place of work and consuming their product or service, yet only paying them for the goods and not enough to cover their wages. You would not dream of doing that, right? Raise your prices. Put up a sign that the new prices will go into effect at the beginning of the month. Figure out what you need to earn per job, per hour, per thousand stitches to cover your costs plus pay yourself an hourly rate of $X; something at least a few dollars above minimum wage. You will probably lose a few jobs with those that push back the hardest for the lowest price. Let them go to another business in the area to someone who is willing to work for no wage. Become comfortable with the idea that you are a professional apparel decorator and are paid as such. It is your future financial stability in the balance. ~~~ June 14 & 16, 2018 ~~~ Huntington Convention Center of Cleveland 800-866-7396 • Register for individual classes, or for the full conference and save up to $50! This conference is co-located with THE NBM SHOW! Registration for any of the classes also gets you registered for the trade show.

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