A method and apparatus for preparing graphic products utilizes a printer to print on sheet material and a cutter to cut the sheet material with the printed material within the periphery of the cut edges. Both the printer and the cutter are controlled by machine readable data having a common data base so that the printed material and the cut material correspond positionally in the final graphic product. The printer is a thermal printer that places the printed material on a strip of sheet material generally before the sheet material is cut. The thermal printer utilizes a donor web bearing a transfer ink to create enhanced printed images on the sheet material with half tones, color and other attractive features. The printer is controlled to regulate a number of printing parameters through coding on a cassette in which the donor web is supported.