Beth Benike
👤 PersonAppearances Over Time
Podcast Appearances
Yeah. That's what it is today. Now let's just give it a couple hours. It might be something else this afternoon.
Yeah. That's what it is today. Now let's just give it a couple hours. It might be something else this afternoon.
It's devastating. I cannot bring this product into the US now. I don't have that kind of money. And what that means then is if I can't bring in that product and I run out of what's in my warehouse now, then I no longer have revenue coming into my business. And what that means is I can no longer pay my employees. I can no longer pay my loans to which my house is leveraged against.
It's devastating. I cannot bring this product into the US now. I don't have that kind of money. And what that means then is if I can't bring in that product and I run out of what's in my warehouse now, then I no longer have revenue coming into my business. And what that means is I can no longer pay my employees. I can no longer pay my loans to which my house is leveraged against.
And in about six months, I could very, very possibly lose my home.
And in about six months, I could very, very possibly lose my home.
Yeah. I currently have two to three months worth of product in my warehouse. We just finished production of another two to three months of product. It was supposed to get on a ship two days ago.
Yeah. I currently have two to three months worth of product in my warehouse. We just finished production of another two to three months of product. It was supposed to get on a ship two days ago.
From China to the U.S. And that was the day that tariffs jumped up to 54%. I have somewhere—give me a second. I want to pull out my numbers so I can tell you specifically— The effect. All right, we're going to do a little math. So for us, that meant instead of the $30,000 tariff we had budgeted for, it now was $85,000.
From China to the U.S. And that was the day that tariffs jumped up to 54%. I have somewhere—give me a second. I want to pull out my numbers so I can tell you specifically— The effect. All right, we're going to do a little math. So for us, that meant instead of the $30,000 tariff we had budgeted for, it now was $85,000.
The product itself is worth $158,000. So suddenly you're faced with a potential $80,000 tariff on about $158,000 worth of goods.
The product itself is worth $158,000. So suddenly you're faced with a potential $80,000 tariff on about $158,000 worth of goods.
Yeah, $85,000 for the 54%. And we don't have that, but we have good margins. We could survive that. And we thought, well, maybe we can do a GoFundMe. Because maybe right now in this political climate, people would be willing to give us $20 to help us get through this so that we don't have to raise our prices or go out of business. It wasn't devastating yet.
Yeah, $85,000 for the 54%. And we don't have that, but we have good margins. We could survive that. And we thought, well, maybe we can do a GoFundMe. Because maybe right now in this political climate, people would be willing to give us $20 to help us get through this so that we don't have to raise our prices or go out of business. It wasn't devastating yet.
The next day, when it went up to 104%, that math is $164,000. Wow.
The next day, when it went up to 104%, that math is $164,000. Wow.
Yep. So that no longer makes business sense for me. I would have to double the price of my products. People are not going to pay double the price of my products. And especially my people. I'm selling my products to new moms and dads. They're buying diapers and formulas and other things that are about to get a whole lot more expensive for them.
Yep. So that no longer makes business sense for me. I would have to double the price of my products. People are not going to pay double the price of my products. And especially my people. I'm selling my products to new moms and dads. They're buying diapers and formulas and other things that are about to get a whole lot more expensive for them.
It's already hard enough to be a new parent and to buy all the things you need to buy that you're not used to buying. People are only going to buy what they need.
It's already hard enough to be a new parent and to buy all the things you need to buy that you're not used to buying. People are only going to buy what they need.