I know some threads for restaurants and retail had some discussion about supplier relations and being able to change prices flexibly or reprint menus etc. Some of those threads were pretty rosy at the time. In seeing the tariffs actually come to fruition has that changed anything?
I know that a lot of sellers have feelings about politics and business mixing, but I also know that politics and policies affect businesses differently and owners perceive harm in different ways depending on race, gender, sex, identity, immigration status, financial status. I'd like to particularly hear from business owners who belong to affected groups but I am genuinely curious about all business owners and how the effects are perceived based on where y'all are located and who your customers are. I am in a blue dot in a red state.
I never keep politics out of business and have to hang signs regarding safety for me and my employees and customers so they know they are in a supportive space.
I actually like hearing perspectives on why people do or don't discuss politics and policies like the tariffs. A regular topic at our studio has been folks asking how I think the tariffs will affect our clay and chemical supplies and the studio members know I purchased a kiln just in case before the tariffs took effect.
I started my first business in the 2008/2009 recession and we were never really able to climb out of that hole financially, because operational expenses ate up inventory budgets while growth was slow until consumer confidence returned, and we couldn't really cycle back. I knew it headed in according to my business plan, but I crossed my fingers that the dip wouldn't be so deep. So many lost their jobs that go round that fewer people had purchasing power for handmade goods and lots of potters suffered so my supply business also suffered. As a result, I am very gunshy about any expansion or expenditures in this uncertain climate.
What about expansion plans, buying equipment, larger business purchases? How do y'all expect to be affected and what are you going to do to insulate against the effects?
We have to raise prices on membership this year a few bucks and I know consumer confidence/opinions will be at play when people consider their household budgets for extras like a studio membership - we've absorbed normal increases over the past decade and have only increased 2 times so it is past due. We are fortunate to have a huge waitlist and am buffered against some retraction and other competition is already priced well over our price point so we have a ton of room which is a good place to be.
How are y'all feeling about today's announcements?
I'm interested to hear from y'all about what changes you feel you can make,
