Making employees understand the value of time and materials can help you increase your shop's profitability.
By Greg Kitson, Contributing Writer, June 09, 2011

When it comes to time and money, efficiency is essential to running a profitable shop. You know that higher-grade products can be worth the extra money if they save you time in the long run. You also know that skilled workers often are more advantageous than “cheap labor.” But have you ever put a dollar amount on just how efficient your shop should be? Setting goals for your business and breaking down profits in an easy-to-understand model will help you determine where you’re losing money and how you can improve — ultimately increasing your profits.
It's crucial that your employees know how much the ink costs the company so that they realize their decisions on how much to use or when to throw it away impact the bottom line.

As a shop owner, money is your most important tool because if you run out, you will go out of business. However, money is followed closely by time as your next most important asset because you can never get it back when it is lost.
As a decorated apparel owner, it’s up to you to ensure your shop is making enough money to survive. And as counterintuitive as it sounds, sometimes you have to spend money to save money, especially if time directly impacts your bottom line. When I make decisions about acquiring new technology, staff, suppliers or consumables, my rule of thumb is that I must get a “buck a minute”...

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