Navigating Difficult Times

Challenging Times?

We are navigating difficult times at the moment as business owners. The world has changed from the ‘Covid Experience’ we have all endured. Some sadly did not survive this devastating event and lost their businesses. The price was very high to include mental trauma and considerable distress.

The Current Situation

So where are we today? The price of everything is on the increase as we come to grips with the dreaded ‘inflation’ which puts all costs and subsequent spending completely out of whack. Of course there are mechanisms put in place to counteract this situation but these will take time to actually work. In the meantime there will undoubtedly be pain and disruption.

It Affects Us All

No one is immune to the world wide phenomenon of price increases. Holdfast Tattoo Supplies has taken some heavy increases not only in product cost but also the cost of International Freight. It seems every time we place an order, product prices have increased and added to that the freight costs are significant too.

The Exchange Rate

To add to the mix, every product imported into Australia is paid for in US Dollars. Given the volatility with the exchange rate over the past year, and how low the Australian Dollar has been against the USD this just adds another dimension to the whole game. Just say the exchange rate is .65 then to purchase 1 US Dollar will cost $1.53. It’s tough out there.

Product Availability

This is also compounded by the fact that many products are in short supply. We all have to be mindful of this fact. We totally understand that without the products you use every day then you simply have no way of keeping your business viable.

A Classic Example

Spirit Transfer Paper is a classic example. As an approved distributer we have to wait anywhere between 4 – 6 months for our orders. This of course has a compounding effect on our stock availability.

We’re Doing Our Best

Holdfast Tattoo Supplies has been extraordinarily resourceful and has a relationship with suppliers in the US who have shared their stock. This fact has meant that we have only been out of stock a few times but only for a week maximum. Unfortunately this is reflected in the current cost.

Educating

We hope this blog helps you understand from a suppliers situation. We are all bound to the current economic climate we are all operating in. No one is immune to how we are effected.

Our Solution

Have a close look at your operating costs. Every business should be doing this as a priority. Break down the costs of doing a minimal tattoo and ask ‘is this worth it at this price – are we being adequately compensated’? For our part, we are doing our best to keep product in stock but being aware of all our costs to give the best service possible and remain viable. It’s a bit of a juggling act but that’s the game of being in business, longevity and being viable.

Its always wise to protect your cashflow. Holdfast Tattoo Supplies offers Wizpay to all our valued customers. Wizpay is a very user friendly payment platform where you can spread your payments. Conditions do apply.