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Denny, since there's a little change left, out of the dollar, I'll use up my own .02 of it, here....................
You're faced with pretty close to the same problem Linda and I have. We breed pure bred Cairn Terriers as well as, Linda breeds and sells American Oberhausly Goats for "herd improvement stock" and dairy.
Also, from the goats, Linda and I several years ago started a "Goat's Milk line of personal care items. (Bath soaps, lip balm, hand cream, body lotions and 11 other products).
When we began each of these "ventures", our prices were set at a comfortable and competitive profit margin. But, as everyone else here, has pointed out "prices do not remain the same" as they were even a year ago, let alone 11!
So, when we raised our prices on our bath products, we did so to reflect the increases in our costs. We could have, "cheapened our goats milk products", by simply "using less milk". We could have easily done that, saved a lot of profit and STILL called our products "Goat's Milk Bath Products" and no one, would have been the wiser.
We refused to do that, and instead raised our prices. If a customer mentioned the price increase, we explained "why". That simple. In 2007, we shipped out a little over 3 tons in bar soap alone and never lost a customer, due to increased pricing.
Our dogs? Same story..................vet bills, got higher. Feed of course, went up. The shots and medications that we give our puppies, went sky high. We raised the adoption fee for the puppies and we still have waiting lists, for almost every litter?!
When my buddy, Henry Hoffman, sold his stock and eggs to Tom Whiting, I asked him, (in short), "Why sell out, Henry? You're at the TOP of the hackle game? You're a great guy and well respected a liked!" etc. etc.
The first thing he told me, was............. "Well, for ONE THING Paul, you can't take "being a nice guy", to the bank!" He was at a point, just like you are where the costs of producing hackle was outstripping his profit margin, 3 fold.
There were many other reasons Henry sold also, of course, but the increasing costs played a huge factor in him doing so.
I'd raise my prices, if I were in your shoes!! Why not? You cannot take "Nice guy" to the bank!
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Raise the price so that you can keep this going. I would hate to see you drop any of the genetic lines you have. I don't charge the same thing I did 11 years ago in my business.
You have feed, fuel, electricty costs and some other things that have gone up. Your customers have to share in that.
Rick
PS Wait until after SowBug to see if I need anything. :)
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I agree witheverything the other fellas have said....Your products are of the highest quality, and we all want it to remain that way. We tie flies for many reasons, and same for us that build rods and such. Saving money is not one of the reasons. I could have purchased a lifetime supply of flies for less than the cost of my tools alone, I think.
We will pay any increase in your prices with no quibble, I believe. We want you to stay in the business, and we're happy to support that. I'm gonna go out on a limb and say I speak for a majority of us...................ModocDan
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I would be your competition has raised their prices some to reflect today's business costs. Seems like other have given you suggestions.
-wayne
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Gotta do it!
Hi Denny,
Even when you are engaged in a labor of love, you are entitled to a fair profit and a decent living. None of your customers want you to working at loss. I would especially hate to see you cut back on research and development of new colors and strains. Raise the prices. We know you will be fair. We can take a price hike! You can only shield your customers from a price hike for so long without serious consequences to your wonderful operation. 8T :)
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Denny:
Seems like everything lately has gone up (price wise). Your business should be no different!
While I have never bought any of your hackles, I am waiting to use up what I have and then will be buying from you - one, for the fact that you are a sponsor here and two, for the fact that everyone on this board speaks so highly of your feathers.
Please, Please, Please - Keep the quality, we will not mind paying more for your feathers.
It would be a great shame to lose all of your research, etc. that has gone into your birds. You deserve to make a good profit in order to survive in today's business world. Every other business out there has to raise their prices to keep up with things and your business should be no different.
You have a very good reputation out there, everyone understands that prices do have to go up.
hope this helps.
Take care,
George
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never apologize for raising your prices when inflation is kicking you in the butt. For years people have raved about your capes and such. You deserve to make a good profit. Anyone who has been in business knows it is a heck of a lot for work for the money returned.
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Denny I haven't bought from you yet, although, you have several skins I've been eyeing....my take is how much more would it raise your prices....is it comparable to the other companies. Simple Supply and Demand, there is a market for top grade quality skins which you produce. A simple change in price is going to have effect. But cost of production has also gone up which will have an effect.
Again, how much are the skins going to go up? I bet the price increase will be fair and probably still cheaper than your competitors.
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Yes, it is basicly supply and demand. Are you selling all your product now? If so, it is safe to increase prices. Are you concerned that if you raise prices you won't sell as much product? If your main selling point is price, higher prices may lead to fewer sales. If your customers recognize you for your quality, they will stay with you. If you operate at 5% profit, raising prices only 5% will double your profit.
Greg
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Denny, I have to admit that I have wondered how you were holding your prices down. I was an agriculture major (forestry and ad. education) in college and I have watched the prices of all your inputs increase more than steadily and yet your prices have remained the same. You have offered a very generous Christmas sale each year. Raise your prices in accordance with the things that you know and we can only guess at. It is your pencil, you have to push it to make things work out. I would rather pay more than see Conranch hackle disappear. Or, for the reader digest condensed version, I could have just quoted Ron Eagle Elk thru J. Castwell and left it at that. :)
Ed