I feel like Chevy Chase in the Christmas Vacation scene where he rants about his penny pinching boss subscribing him to the Jelly Donut club. Only I am not ranting about the club, and certainly not about my boss.
Not this time...
Unless you have been living under a rock, 2020 was bad, it felt that 2021 was not quite as bad, but had made itself at home left over from last year. While 2022 started well (and I am sure it meant well), it started feeling like a repeat of 2021. Or was it?
Time flew by quickly, one day it was January, the next day was summer, the following day, we have snow in the forecast. Tomorrow, who knows?
One of the top topics "de l'année" (of the year) has been inflation. While I would like to find myself unaffected, opening the books to the business pulling out a calculator and spreadsheets has been necessary, while it would seem to be one the better years as far as my sales at events, wholesale orders, adding things like expenses, price of raw materials, postage and most incidentals have gone up.
Some of these were expected with applying the increased shipping costs, oils have also gone up. Ounce for ounce, bar for bar, including shipping, coconut oil (ordered in bulk) went up 10 cents a bar, palm oil went up 4 cents a bar and my boxes everyone likes, went up nearly 15 cents a box. Herbs have also gone up from $4 a pound to maybe $12. Fragrances and essential oils have also gone up Etc. etc. I also get Olive Oil from Costco, they stopped selling my regular brand and now I have to re-formulate to keep the price down.
The grand total to make one bar of soap has bone up nearly 50 cents a bar since mid-2020, and I make 60 bars at a time. It now costs me $30 additional dollars to make a batch of soap, not counting my time.
I have also been more selective in the events I attend. Hotel rooms have gone up, fuel costs, food costs... It never seems to end as I have started being selective to events that are not local to my home.
The thing I have been avoiding, has become something I am unable to avoid any longer. Starting January 1, 2023, I must increase the cost of my soaps by one dollar. My wholesale prices will also be raised as well, while still keeping the wholesale value. Seeing me at events, I will still offer the multi-bar discounts.
Keep in mind, my prices of soaps have not changed since I had started making them over ten years ago. Of course, the cost of my raw materials have been fairly steady for nearly the ten years and only spiked recently.
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