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Several friends complained this is not right that they will only buy my stuff if I sell for exactly the inventory purchase cost of all inventory but if I do that how do I pay for my time, marketing, maintenance?
Are we supposed to use our savings for that or are you allowed to compensate yourself for time? If I’m putting 90 hours a week of my time in and I can only sell
At cost and I can’t pay for my own childcare how do I make money ?
How do your friends know how much you are paying for things? Do you think when they buy things off of Amazon or the grocery store, that they arent paying some sort of mark up? If you cant make a profit, theres no point in you selling things.
Do you think your friends would sell items with no markup at all? Run a business, not a charity.
Once you have churned years of consistent profits you can share the wealth. Or hand outs.
My one boss made many a business bed buddy by giving free products and service. We were a network business. It cost him nothing . It cost the company dern near 200k to 300k. But gosh it was swell to work for a guy who thought nothing of blowing 50k in sponsoring a golf tournament while firing folks because gosh golly the 'family' needed a seat on his lucretative business.
Welcome to capitalism. And welcome to being an owner who will in time scratch backs.
How do your friends know how much you are paying for things? Do you think when they buy things off of Amazon or the grocery store, that they arent paying some sort of mark up? If you cant make a profit, theres no point in you selling things.
Do you think your friends would sell items with no markup at all? Run a business, not a charity.
He never said they know, just what they want.
Cutting friends a deal is up to you. A lot of people do something like 10-20% over cost for friends and family.
They don't sound like very good friends, but if you're outside the US there may or may not be cultural differences coming into play...
I would never go to a friend's business expecting them to cut me a deal that isn't available to others.
If I'm patronizing their business, unless prices are typically negotiable, I'm there as any other customer. If I really think their prices are a ripoff and I can find something for a fairer price elsewhere, I'm just going to go there instead.
If my friend offers it, I'm still probably going to offer to pay the price others pay just because I want to support their business as a customer, but would probably take them up on it if they still insist.
Expecting a discount by default seems very entitled.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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When I had a business I would occasionally give a discount to friends/family members, but still covered my cost plus a bit of profit. Generally it was 10-15% profit rather than the usual 37%. For them it was a lot better deal than going elsewhere. On several occasions I would get asked for a discount by churches, claiming they were "non-profit." My response was "I am not non-profit."
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