I bet you thought this was going to be about income taxes didn’t you? Well, it’s not. It’s about coffee prices. The income tax rant will come next month.
I just picked up some coffee this past week to replenish my stock and I have to admit that I was shocked at the price. I was hit with another 30% price increase and that was with a discount because I picked it up myself. Now before you ask, I did check out other suppliers and the increase was pretty much universal for us small players. Even my suppliers are considered small players so we all have to pay spot prices and the best advice they could give me was just to raise my prices again.
I have to tell you that I have lost sleep over this and it wasn’t just because I pulled a muscle in my back schlepping the 70 kg bags of beans into my roasting room. I have already raised my prices 30% in the last 6 months and I’m afraid that I would lose customers if I do it again. If the prices drop then I would be either have to lower the prices and look like I don’t know what I am doing (which is true) or feel like I am price gouging my customers. I am a tortured soul who is only trying to do the right thing. If anyone out there has some sage business advice for me I would love to hear it.