Welcome to “How To Price Embroidery!” The Simple Embroidery Pricing System That WORKS!
Start with Module 1 and complete it before going onto Module 2. Create a folder on your computer called Pricing Program. Download your forms and workbooks into that folder. You will be working within that folder as you go through this program and continue on to create your own pricing structure. It is very important to keep all of your information in one location.
There is a link at the top of each form that will take you to a video to show you how to use it as you are starting to work with each form. I thought that this reference would make it easier for you to not only get used to the program but also have it to view if you forget any of the information. In order to view the videos, you will need to be logged into the program.
I use Microsoft Excel for all of the spreadsheets. If you do not have Microsoft Excel, you can download a FREE program called Open Office. Click on the link below and this will give you a document that will show you how to download the file onto your computer. They keep changing and updating the program so the document may look a little different than the actual web page instructions, but it will all work the same. The instructions are for an earlier version of Open Office, but it will work the same.
Link to Office Suite Download: Open Office Download
When you click on each blue link, it will take you to the correct module lower on the page.
Module 1-Price List Preparation
Module 2-Plugging In The Numbers
Module 3-Creating Your Price Lists
Module 4-Package Pricing
To watch the videos in full-screen mode, click on the “Enter Full Screen” icon on the right bottom corner of the video.
Welcome to the first Module in the series of “How To Price Embroidery!” In this first module, I talk about the many myths that stand in the way of new embroiderers and explain how to overcome them. I also get you started on keeping track of all of your expenses, and I show you how to keep track of your Production and Artwork times. These are extremely important as you are learning how to create your Profitable Embroidery Business! Watch the videos in order and start using the spreadsheets immediately. Do not neglect this.
- How To Develop The Right Mindset
- Working with Spreadsheets
- Expense Spreadsheet
- Production Tracking & Timing Form
- Artwork Tracking & Timing Form
Link to Article:
Video: How To Price Embroidery-Module 1-Price List Preparation
In this video, I talk about adding all of your business expenses to the Expense Spreadsheet! You must have your expenses together before you can move onto the next module. I also talk about starting to time all of your production and artwork jobs. It is very important to starting timing every job that you do.
Download Written Documentation for Module 1 – How To Price Embroidery Module 1
Video: How To Develop The Right Mindset
In this short video, I want to speak to you about the importance of having the Right Mindset for Success in your Business. Always remember that you are a skilled professional. You offer a service that others cannot do, and you deserve to be paid for it.
Video: Learning How To Work With Excel Spreadsheets
In this video, I show you how to work with Excel spreadsheets. In this video I show you how to create an Inventory sheet and I use all of the tools to create formula’s that you will be also using in all of the How To Price Spreadsheets. This is give you a much better understanding of how to work with the spreadsheets all through this program.
Video: Year-End Accounting Bookkeeping Workbook
In this video, I show you how to add your income and your expenses to the Year-End Accounting Bookkeeping Workbook. This workbook is formatted so that it will automatically figure the totals at the end of the column and will automatically be filled in on the Totals page. You will not have to do that manually! This workbook has 3 sections, Income, Expenses and Assets & Liabilities. I have added another row to the bottom of the form that will automatically give you the monthly averages for each column that you can add to the Cost Analysis Spreadsheet.
When you have this workbook completed, you can add the total expense figures to the Cost Analysis spreadsheet. When you are completing this workbook, you can ignore the Income sheet inside of the Pricing Workbook. You can add the percentage of income for each category at the top of the Cost Analysis for each department within your business to figure the expense percentages in each on the Cost Analysis spreadsheets. If this is confusing, please contact me.
If you do not have Microsoft Office, you can download the Free Program: OpenOffice.
If you have “QuickBooks” and keep excellent track of ALL of your expenses, you can use those figures.
Link to Year-End Accounting Bookkeeping Workbook:-Year-End Accounting-Workbook-2020
Video: Production Tracking & Timing Form
In this video, I show you how to start keeping track of all of your Production time. This is extremely important when you are creating your pricing structure. You will be incorporating all of your production times into your pricing structure instead of just going by the stitch count. You will see in the end how this all plays a part and will be rolled into your pricing formula.
Link to the Production Tracking & Timing Form: Production_tracking_and_timing-1
Video: Artwork Tracking & Timing Form
In this video, I show you how to keep track of your Artwork and Design Setups. You are going to start keeping track of each step you take when creating your designs for embroidery, whether you are creating them yourself or sending them out to a digitizer. There is a lot of lost time that is not charged off to the customer, and you will discover this as you are working with this form.
Link to the Artwork Tracking & Timing Form: Artwork-and-Design-Tracking-and-Timing1
This is Module 2. In this section, I will show you how to take your information from your Expense Spreadsheet and add it to your Cost Analysis-Total Business Page. I also show you how to add your figures to the other spreadsheets inside of the Pricing Structure Workbook. This is all in preparation for creating your total pricing structure.
- Income -Department
- Equipment-Department
- Company Payroll
- Cost Analysis-Total Business
- Cost Analysis-Embroidery
- Production Tracking & Timing
- Production Timings
Link to Article:
Video: Module 2 – Plugging In Your Numbers
In this video, I show you the first few pages inside of the Pricing Structure Workbook. I talk about adding your figures to the different spreadsheets, and I show you the Cost Analysis Spreadsheets.
Download to Written Documentation of Module 2 – How to Price Module 2
Video: Adding Your Income Department Information
In this video, I show you how to add your Income to this Income Department Spreadsheet. I have created the Year-end Workbook since I did this vide. Take your monthy figures from the year-end workbook and add this into your Income Spreadsheet. It is very important to divide your income into departments if you offer more than embroidery. This will allow you to see where the different percentages of income are for your total business.
Video: Adding Your Equipment by Department Costs
In this video, I show you how to add your Equipment costs to the Equipment Department Spreadsheet. In order to be able to have money set aside for new equipment in the future, it must be built into your pricing structure.
Video: Adding Your Payroll by Department Costs
In this video, I show you how to add your Payroll costs to the Payroll by Department Spreadsheet. If you are planning on adding a new employee in the near future, you can add that in as another employee so that the money is already built into your pricing structure.
Video: Going Through The Forms On Module 2
In this video, I show you the Cost Analysis spreadsheets, and I show you how to add your Expenses to your Total Business Cost Analysis Spreadsheet. I also show you how to add your Production Timings to your Production Sheet to figure the cost of each job. I then go over the Production Timings sheet showing you all of the extra costs that go into your pricing structure.
Link to Workbook: Full-Department-Pricing_Structure_Workbook_2024
I have included another workbook for you that is for the embroiderer that only offers embroidery, no other services. You can download this version to make it easier for you to use.
Link to Workbook For Embroidery Pricing Only:
Total-Embroidery-Pricing-Workbook-2024
In this module, I show you how to create your Embroidery Price List. You will be using the same Pricing Workbook as in Module 2. However, you will be using more of the forms inside to create your Pricing Structure and Price List. You can also use the same formula to create a price list for any other area within your embroidery business.
Link to Article:
Video: Creating Your Price Lists
In this video, I talk about the different price lists that you will need to be prepared for. I also talk about profit markups, and I give you a chart to go by to create your markups. You want to keep in mind when you are creating your price lists that the bulk of your sales should come from your Corporate Sales. Do not offer Wholesale prices unless you can make money on it.
Download of Written Documentation of Video: HowToPriceModule3
Video: Price List Prep Sheet
In this video, I go over the information that flows into your Price List Prep Sheet to create your Pricing Structure. I explain how the information flows from one spreadsheet to another and how they are all linked together to give you a total pricing structure.
Video: Creating Your Price List
In this video, I show you how to create your Price List. It is a very simple process once all of the preparation is done and the information is all linked together. Once you have your Price List done, it is done forever. All you need to do after that is update your expenses. It will automatically update your pricing.
You will notice on the Price List Prep Sheet that you now have 3 different price lists. This makes it very easy for you to create the different levels of pricing! You can now create the different price lists with little effort.
In this Module, I show you how to create Package Pricing with your embroidery price list and your garments. When you are working with retail and corporate clients, package pricing is simple to use and much quicker. You can give your customers an instant quote. This also works with all types of print pricing. I have created 2 different spreadsheets for you to work with. One is for embroidery and one for printing.
Link to Article:
Video: Package Pricing
In this video, I talk about how easy it is to be ready to give your customers an instant price when you are using this system. You can have a total list with the pricing of all of your best selling products right in front of you as you are working with your customers.
Download Written Documentation of Video: HowToPriceEmbroideryModule4
Video: Package Pricing
In this video, I am showing you how to create your price list with your garments and your corporate pricing in one package. This way you can give your customer an instant quote while they are standing right in front of you. This works for embroidery or printing. I have spreadsheets created for both. This makes working with your customer very simple and quick.