cybersix Posted January 5, 2007 Share Posted January 5, 2007 And I hope they will stay great news!!!I called the lady that contacted me at the end of december, she has a herbalist shop and wanted to sell "high quality scented candles"!I sent her three small pillars to test, plus some free tarts.She liked everything! She wants the candles and the tarts, she was very happy about this new use for an oil-tart burner. Here tarts are not so diffused so when I explained her how to use them she raved about them.Her shop is new, she's opening in these days so she sai that when she has phone and and all set up she will call me to place her order.Her husband works with iron, they already took the measures of the pillars to build candle holders.I'm so excited!!!! Fingers crossed please!!!!!!I love you all!!! Quote Link to comment Share on other sites More sharing options...
cindym Posted January 5, 2007 Share Posted January 5, 2007 Congrats Sabrina that is awesome. Quote Link to comment Share on other sites More sharing options...
candlesprite7 Posted January 5, 2007 Share Posted January 5, 2007 That's Great news Sabrina! Quote Link to comment Share on other sites More sharing options...
cybersix Posted January 5, 2007 Author Share Posted January 5, 2007 Thanks!But I just realized that the 20% of my income goes in taxes.. sigh so I won't do much money.. this is the firts time I get a wholesale account so I didn't thought at taxes...what do you all do when make the prices to sell? Quote Link to comment Share on other sites More sharing options...
sudsnwicks Posted January 5, 2007 Share Posted January 5, 2007 Good for you! Hope it works out. As for the tax thing, if I'm understanding you correctly, the rate is 20% on whatever income you earn, right? So it shouldn't matter if you're selling at wholesale or retail, right? It would still be 20% in either case. Of course for wholesale you're making less per candle than at retail prices, but the higher volume should make up for it. Quote Link to comment Share on other sites More sharing options...
cybersix Posted January 5, 2007 Author Share Posted January 5, 2007 Hi sudnswicks, yes you're right the 20% applies to wholesale and retail. But I don't sell retail, I only sell to my friends (until now) and I'm a hobbist. For italian laws a hobbist can sell "occasionally" and no taxes are requested. So if someone buys online my candles is the same principle. Differen is when shop owners buy to resell, because they have to declare every cents that exits from cash and every cents that enters.In fron of the law they have to justify the expense for my candles and for the law in this case I pay taxes.If I'd had a real business with my shop the 20% would apply even to retail. But that's basically why I didn't think of taxes until now. I make candles from three years but my sales are only some candle here and there to friends when christmas arrives.Hope this makes sense!!So after some math I discovered that I can barely gain the double of what a candle costs to me.So I was wondering what you all do, do you raise the prices a bit?Thanks! Quote Link to comment Share on other sites More sharing options...
Bev Posted January 5, 2007 Share Posted January 5, 2007 Sabrina, awesome news! What a wonderful way to start the new year!!!! Quote Link to comment Share on other sites More sharing options...
sudsnwicks Posted January 5, 2007 Share Posted January 5, 2007 Cybersix, yes I understand what you're saying. I don't raise my candle prices to help cover my income tax payment. Just like if I worked for a company I would not ask them to pay me a bit more to cover the income tax payment. As to whether you can still earn a reasonable amount doing wholesale, I guess this is something you would have to think about and decide. If you feel it isn't worth it, then you might not want to encourage any more wholesale accounts other than this herbalist shop. Quote Link to comment Share on other sites More sharing options...
BruceCarvesWax Posted January 5, 2007 Share Posted January 5, 2007 Congrats Sabrina!Most candle makers wholesale price is double their cost so you are in line with what most of them are doing. I bump my wholesale price up more than that because I think if the retailer is going to double their money just by sitting our products on a shelf we should make a nice profit for our time and the money it costs to make the products. Bruce Quote Link to comment Share on other sites More sharing options...
Freezin Posted January 5, 2007 Share Posted January 5, 2007 WTG Sabrina! That is good news....now the financial part is something I can't help you with because I don't wholesell. But that is really great news about selling your candles in this new shop. Quote Link to comment Share on other sites More sharing options...
SatinDucky Posted January 6, 2007 Share Posted January 6, 2007 That's great news! Glad to see you're still hanging in there Quote Link to comment Share on other sites More sharing options...
cybersix Posted January 6, 2007 Author Share Posted January 6, 2007 That's great news! Glad to see you're still hanging in there Thanks Satin, wlecome back!I'm still here I love too much my candles to let go!! Quote Link to comment Share on other sites More sharing options...
cybersix Posted January 6, 2007 Author Share Posted January 6, 2007 I can totally see your point, it would be not fair to raise prices because taxes on it.But I should gain something for what I do, so I'm still thinking on what I can do!Cybersix, yes I understand what you're saying. I don't raise my candle prices to help cover my income tax payment. Just like if I worked for a company I would not ask them to pay me a bit more to cover the income tax payment. As to whether you can still earn a reasonable amount doing wholesale, I guess this is something you would have to think about and decide. If you feel it isn't worth it, then you might not want to encourage any more wholesale accounts other than this herbalist shop. Quote Link to comment Share on other sites More sharing options...
cybersix Posted January 6, 2007 Author Share Posted January 6, 2007 Congrats Sabrina!Most candle makers wholesale price is double their cost so you are in line with what most of them are doing. I bump my wholesale price up more than that because I think if the retailer is going to double their money just by sitting our products on a shelf we should make a nice profit for our time and the money it costs to make the products. BruceBruce you can do what you want I think, yours are pieces of art, mine are pillars. people don't understand what hard work is behind them, they just see a candle as many others.I wholesale a pillar for 5,40 euros (7$) so the retailer has to have his income.. if I rasie again my price how would he be supposed to do monet selling my candles?? Quote Link to comment Share on other sites More sharing options...
sudsnwicks Posted January 6, 2007 Share Posted January 6, 2007 Okay so you have to pay 20% of what the shop pays you. But do they allow you to deduct expenses i.e what it is costing you in supplies? If so, this would lower your income and also your tax bill. Quote Link to comment Share on other sites More sharing options...
cybersix Posted January 6, 2007 Author Share Posted January 6, 2007 Okay so you have to pay 20% of what the shop pays you. But do they allow you to deduct expenses i.e what it is costing you in supplies? If so, this would lower your income and also your tax bill.No for the moment. This is a particualr way to sell goods or service "occasionally".If I get a tax ID it will be as you say. So I'm pondering to having one. But there are many different taxes ID so I have to choose the most appropriate for me. I know there is one for which you don't have to declare exatly your yearly income, you take a formal agreement with the state saying that you will never gain more tha 50.000 euros per year. This is my case, I will never gain so much with my candles in a year.But italian laws are many and complicated so i asked a person to help me in this. I hope her help will arrive soon! Quote Link to comment Share on other sites More sharing options...
sudsnwicks Posted January 6, 2007 Share Posted January 6, 2007 Well good luck with whatever direction you choose to take. If the tax id is not too expensive, being able to deduct those expenses could more than make up for it. Quote Link to comment Share on other sites More sharing options...
cybersix Posted January 6, 2007 Author Share Posted January 6, 2007 Well good luck with whatever direction you choose to take. If the tax id is not too expensive, being able to deduct those expenses could more than make up for it.thanks, you're always so supporting!anyway i'm happy because having my name out there is a great thing.I will try to do my best wth this labyrinth of laws! Quote Link to comment Share on other sites More sharing options...
The Soap Diva Posted January 6, 2007 Share Posted January 6, 2007 Super News! Good Luck! Quote Link to comment Share on other sites More sharing options...
gngrbrdmtn Posted January 6, 2007 Share Posted January 6, 2007 Woooo! Congrats, Hon! Best wishes! Quote Link to comment Share on other sites More sharing options...
alreadyinuseagain Posted January 6, 2007 Share Posted January 6, 2007 Wow, that's wonderful! Congradulations! Quote Link to comment Share on other sites More sharing options...
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