Rising Embroidery Thread Prices Send SHOCKWAVES! (Should You Worry?)

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. Learn why you should ditch the stitch count rule and use our easy formula for pricing your embroidery:    • How to Price Your Embroidery [EASY FORMULA]   Download our profit calculator: https://ricoma.com/US/profit-calculator Learn expert tips for pricing and invoicing your embroidery: https://www.youtube.com/live/W8MEyjVl... Join the Ricoma newsletter for educational blogs, videos, and live webinars: https://info.ricoma.com/newsletter To learn more, schedule a virtual demo today: https://ricoma.com/US/virtual-demo Get our latest Ricoma embroidery YouTube videos sent straight to your Facebook Messenger: https://manychat.com/l2/RiCOMA.us Follow Ricoma on Facebook to check out more of our videos and educational content, and to tune in to our Live Q&As:   / ricomahq   Follow Ricoma on Instagram to view more great videos and tutorials featuring custom apparel masterpieces that you can make from home:   / ricomahq   Follow Ricoma on TikTok for even more educational and entertaining videos:   / ricomahq   To receive embroidery tips and techniques from seasoned pros and get free embroidery content and advice, join our Facebook group, Embroidery & Printing Business Help:   / embroideryprintingbusinesshelp   To learn more about our embroidery machines, visit our website: https://ricoma.com/US 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.