STOP LOSING CUSTOMERS (When to Buy New Machinery) Digitizings.com

STOP LOSING CUSTOMERS (When to Buy New Machinery)
When is it time to invest in a new embroidery machine or printer for your custom apparel business? In this week’s episode of Apparel Academy, Henry dives into the two major factors that indicate whether or not you should purchase another machine. Links Learn more about differences between a multi-head machine VS multiple single head machines: https://www.youtube.com/watch?v=9d1t4BQoghI Learn more about our embroidery machines here: https://ift.tt/3fmFSoU Learn more about out White Toner Transfer Printer + Heat Press bundles here: https://ift.tt/3mfQESB Learn more about out DTG printer here: https://ift.tt/3mkXVkc Join our Facebook Embroidery & Custom Apparel Mastery Group: https://ift.tt/3ffjCMa Join the Ricoma newsletter for educational blogs, videos, and live webinars: https://ift.tt/2WgenV5 To learn more schedule a virtual demo today: https://ift.tt/2Z7XEF8 Get our latest Ricoma embroidery YouTube videos sent straight to your Facebook Messenger: https://ift.tt/2ZaCXIJ Many apparel business owners don’t know when the best time is to invest in a new machine. Here are two reasons why it would be a good idea to invest in a new machine: The first reason is to scale your business vertically. What this means is that you invest in another machine to increase the number of garments you produce in a particular product line. Having multiple machines is helpful if you spend way too much time working in production and don’t have time to drum up new business. That way, you can fulfill your orders on time and have a quick turnaround time while freeing up space to find new customers. For example, if you run an embroidery business and it takes you too long to fulfill a high volume of orders, then it might be time to add on a new machine to your lineup. You could also trade in your old machine to upgrade to a larger one to increase your production capacity. The second reason is to expand your business’s variety of services. This means you expand your business by offering other services to your customers that complement your existing services. If you’re already offering embroidery services, then it may be beneficial to invest in another apparel decoration method, like direct to garment printing or heat vinyl transfer. Now let’s dive deeper into these scenarios: It's best to scale vertically when you’re unable to keep up with the volume of orders that are coming in. If you're running an embroidery business and find yourself staying up late to fulfill orders on time with a single-head machine, then it might be time to upgrade to a multi-head machine or add on more single-head machines. This depends on how your workflow is structured. If you focus on fulfilling bulk orders or wholesale, then it’s ideal to upgrade to a multi-head machine. For smaller shops that focus on more personalized orders, adding on additional single heads gives you the flexibility to do different designs at the same time. Looking at turnaround times is also a good indicator if it’s time to invest in a new machine. Most customers want quick turnaround times but if you’re staying up until 2 AM just to complete a small order, then it might be time to invest in a larger machine. Not being able to fulfill orders on time will impact your ability to scale your business in the future. The other scenario to invest in a new machine is to expand your variety of offerings. If your embroidery business is doing well but your customers inquire for printed t-shirts, consider investing in a direct-to-garment printer. That will increase revenue and expand your business without having to get new customers. While it’s possible to outsource these one-off orders, there comes a tipping point when there’s so much demand for them and customers keep on asking that it makes sense to invest in the equipment and bring it in-house. Other factors that indicate it’s time to invest in a new machine include the kind of clients you serve, the industries they’re in, the kind of apparel and services they need, and using that knowledge to cater to them. This information gives you data points to make an informed decision as to whether or not to invest in new equipment and expand your business. Once you invest in new equipment, you open your business up to a new stream of revenue. You can market to other clients in your database that may not know you offer new services, making this an opportunity to maximize your revenue without acquiring new customers. Those are the two major indicators to look for when considering if it’s time to invest in a new machine: to expand your production capacity or to expand your offerings to existing customers. This depends on when the timing is right for you, your circumstances, your budget, and your customers' demands.
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