Calculating profit margins are important for any small business. Regardless of if you're looking to take a hobby to a fulltime business or if you're an existing apparel decorator trying to bring in more revenue, calculating your profit margins is an integral part of profit in your apparel business.

WHY IT MATTERS: With a detailed cost & profit analysis, you can clearly see how much money you're actually bringing in.

◾ With accurate profit calculations you can modify your margins to win more business for budgetminded customers.

◾ You can say 'no' to jobs that won't be profitable.

◾ With a clear picture of profit and expenses, your small business can identify a low profit margin and explore ways to increase your take home pay.

Factoring in hidden costs like overhead or labor can account for shorting your own pockets, and while your incoming revenue might look good, you're not actually making enough to cover your expenses.

In this video we're breaking down how you can accurately calculate your profit margins and how they impact your business.

We'll cover overhead expenses, things like utilities, services, equipment, labor and technology.

Then we'll look at your small businesses cost of goods, essentially what costs go into creating printed apparel (at any scale).

Next, we'll calculate our gross and net profits, diving into calculating the actual profit margin as a percentage.

Then we apply everything to a realworld home based business to help guide future business decisions.



Design custom TShirts online for free (All you need is a free account):
https://www.transferexpress.com/designer


Thanks for watching! At Transfer Express, we appreciate your dedication to learning. Helping your TShirt Business grow is our number one priority. From quality screen printed transfers to tons of helpful heat printing tips, inspiration and application education we're always happy to help. Be sure to comment, like, and subscribe to our channel: https://bit.ly/TransferExpressSubscri...

You can find more information on advancing or starting your own tshirt business at: https://transferexpress.com/

#SmallBusinessTips #profit #tshirtbusiness
_________________________

Connect with us on Social Media visit our Blog for many more topics and tools!

Our Blog: https://blog.transferexpress.com

Follow us on our social media for more updates and useful tips!

Facebook:   / stahlstransferexpress  

Twitter:   / transferexpress  

Instagram:   / transferexpress  

Pinterest:   / transferexpress  

LinkedIn:   / stahlstransferexpress