Not at all. In essence, all you have to do is find a patch maker, provide your design, get a quote, and then place your order. Of course, the devil is in the details, and there are some finer points to consider.
The most important decision you’ll make is which patch maker to work with. In an ideal world, all service providers would deliver excellent work, but that’s not the world we live in, and if you don’t choose the right team to handle the job, you may end up with a final product that looks nothing like what you imagined. Make sure you go for an experienced patch-making company that has a good track record. Bonus points if they are willing to provide a mockup of the patch before full production.
Another concern is the design, which you may have trouble making yourself. Varsity letters are usually made from chenille, as you can see on the Ultra Patches website, and the design has to be made with that material in mind for the final product to look good. Luckily there are patch templates you can use to create your design out there, and some manufacturers also offer patch design services.