05/07/2022
Lengthy post warning, so grab a cuppa...
As expected with or without prior warning my suppliers have been increasing their prices for some time.
I've avoided it for as long as possible but I can no longer bury my head in the sand & will have to look at updating my own price guide.
Today I noticed that one of my most used cards in particular has become low in stock & has had a price increase of over double what I would normally pay. Another popular card won't be available for several months now either.
Recently during the time I have given quotes, waited on over due invoices & late confirmation of placing orders, the prices of materials needed for those delayed orders increased considerably meaning that the little bit of profit I make inevitably gets eaten in to. I have no idea how long this will go on for, whether those prices will hold or increase regulary, so I need to be flexible.
Because of this I need to look at the way I work & will as of now only be holding the prices of quotes for 7 days. After the 7 day deadline I will double check the supplier costs & amend the quote if necessary. Hopefully that wont happen often, if at all, but I need to cover myself & my out goings π€
I will also be changing the length of time that quotes & invoices remain valid to a 7 day deadline too.
Late invoices over 7 days will be cancelled & double checked to cover any possible increases & resent, again with another 7 day deadline. Delays will affect production dates too.
I single handedly put a lot of time, care & effort in to my work, I often work long days & through the night...there's no over time pay or holiday pay. When I work out my time from first point of contact with a couple to the very end of working together, I'm really lucky if I hit close to the national minimum wage.
I absolutely LOVE my job SO much & appreciate every single order placed, but it is a job not a hobby - I still need to pay my bills, feed my family just like everyone else does.
At this point I'm worried about how much longer working on wedding stationery will be viable, prices on everything seems to be going up but wages aren't, with this in mind I will likely be changing the way things are done very soon...but that will no doubt be covered in another long winded post once I've properly figured that out!
π