treadmill Posted August 6, 2014 Share Posted August 6, 2014 Ok guys and gals need some feedback. Since I started doing this 2 yrs. ago, I started with the price point on my mint honor boxes as .35 or 3/$1. The actual cost for the mints are still the same as they were 2 yrs. ago. Lately I've seen some selling theirs for .50 or 3/$1. I'm leaning toward changing my price point but I thought I would wait for a price increase. My dilemma is "do I change to .50 or 5/$2" or should I wait for a candy price increase. I don't know if by raising price if it would incourage more shrinkage. Need your input on this problem. Link to comment Share on other sites More sharing options...
AZVendor Posted August 7, 2014 Share Posted August 7, 2014 Just speaking to common sense, as I've never been in bulk or honor boxes, I would say that regardless of what your products costs have done in the last two years you have certainly had increases in your other business costs like gas, vehicle repairs, insurance, etc. Don't be afraid to make a price change for that reason alone. You're lucky that mints have not gone up as everything else seems to so on an annual basis. Link to comment Share on other sites More sharing options...
treadmill Posted August 7, 2014 Author Share Posted August 7, 2014 Thanks AZ for some insight. I just kinda needed a kick in the pants from somebody to get me motivated on this. Link to comment Share on other sites More sharing options...
loach33 Posted August 7, 2014 Share Posted August 7, 2014 I think 50 cents or 3/1 makes more sense. 90% of people don't need 5 mints. I think most people nowadays will buy just about anything for $1. McDonalds and the like all have that value menu at or near $1. It's a simple number. $2 is just psychology a whole lot more. I'd say do 50 cents or 3/1 and see if it makes a difference. My guess is that most people either throw their pocket change in which is probably less than $1 and they take 3. Or they just steal 1 without paying anything. Or they put $1 in. My guess is that almost no one will put 50 cents in and just take 1. Psychologically this is a Buy 2 and Get 1 Free deal. That might make people more inclined to just throw $1 in. Can't hurt to try. Link to comment Share on other sites More sharing options...
Grazing Hippo Vending Posted August 7, 2014 Share Posted August 7, 2014 I agree with Loach on this one. As you know, I am at 50 cents/ 3 for $1. Most of the money in my boxes are dollar bills. My accounts that are spot on with no shrinkage are usually at an even dollar amount which indicates to me that most people purchase in $1 increments. Since you have had boxes on site for a couple of years, I dont think that it would look odd to raise your prices immediately. I would raise them now and not wait. The folks who stole yesterday will be the same trash that steals tomorrow. Raise the prices are watch your profits increase. Good luck! Link to comment Share on other sites More sharing options...
Lake Cities Vending Posted August 7, 2014 Share Posted August 7, 2014 I'm just getting started and I think I'll go with .50 or 3/1.00. When I called Sheridan I told Margaret I wanted .35 cent and 3/1.00 stickers. She said I needed to go with.50. When my order came in she sent .50 and 3/1.00 stickers. Link to comment Share on other sites More sharing options...
Lake Cities Vending Posted August 19, 2014 Share Posted August 19, 2014 Ok guys and gals need some feedback. Since I started doing this 2 yrs. ago, I started with the price point on my mint honor boxes as .35 or 3/$1. The actual cost for the mints are still the same as they were 2 yrs. ago. Lately I've seen some selling theirs for .50 or 3/$1. I'm leaning toward changing my price point but I thought I would wait for a price increase. My dilemma is "do I change to .50 or 5/$2" or should I wait for a candy price increase. I don't know if by raising price if it would incourage more shrinkage. Need your input on this problem. So did you change over to .50? Link to comment Share on other sites More sharing options...
treadmill Posted August 24, 2014 Author Share Posted August 24, 2014 Ok guys and gals need some feedback. Since I started doing this 2 yrs. ago, I started with the price point on my mint honor boxes as .35 or 3/$1. The actual cost for the mints are still the same as they were 2 yrs. ago. Lately I've seen some selling theirs for .50 or 3/$1. I'm leaning toward changing my price point but I thought I would wait for a price increase. My dilemma is "do I change to .50 or 5/$2" or should I wait for a candy price increase. I don't know if by raising price if it would incourage more shrinkage. Need your input on this problem. So did you change over to .50? No not yet. Decision may have been made easier when I went to Sam's last night to pick up my supply for the coming week. Found out a price increase has happened. Went from $12.42 to $13.28 per box. Still pondering. Link to comment Share on other sites More sharing options...
Lake Cities Vending Posted August 24, 2014 Share Posted August 24, 2014 I need to go get some. Guess I should have bought more than 4 boxes last week. I'm just starting with the mint honor boxes. Trying to decide weather to go .35 or .50 each or 3/$1.00. Link to comment Share on other sites More sharing options...
treadmill Posted August 24, 2014 Author Share Posted August 24, 2014 I need to go get some. Guess I should have bought more than 4 boxes last week. I'm just starting with the mint honor boxes. Trying to decide weather to go .35 or .50 each or 3/$1.00. Do you remember what you paid per box? It was first part of July when I last purchased before last night. Link to comment Share on other sites More sharing options...
Grazing Hippo Vending Posted August 24, 2014 Share Posted August 24, 2014 I bought 25 boxes from BJs last week for $12.19 per box. Sams has been at $12.42 per box for awhile around here. A $1 increase per box really adds up. I go through about 60 Yorks each month NOT counting expansion. I dont often (if ever) see sale prices on Yorks but if by some chance I do, I plan on grabbing a few pallets worth. The shelf life on the boxes I have been buying is May 2015. Link to comment Share on other sites More sharing options...
treadmill Posted August 24, 2014 Author Share Posted August 24, 2014 I bought 25 boxes from BJs last week for $12.19 per box. Sams has been at $12.42 per box for awhile around here. A $1 increase per box really adds up. I go through about 60 Yorks each month NOT counting expansion. I dont often (if ever) see sale prices on Yorks but if by some chance I do, I plan on grabbing a few pallets worth. The shelf life on the boxes I have been buying is May 2015. I would buy from BJ's but we don't have any around here that I'm aware of. I've paid $12.42 per box since I started about 2 yrs ago. Been kinda expecting this for a few months now. With the price increase per costs have gone from 7.1 cents to 7.5 cents per piece. I am probably going to raise mine to .50 or 3/$1 in the not to distant future but not exactly sure when. Right I'm content with the .35 or 3/$1 price point. Link to comment Share on other sites More sharing options...
Lake Cities Vending Posted August 24, 2014 Share Posted August 24, 2014 Do you remember what you paid per box? It was first part of July when I last purchased before last night. $12.42. I will have to go to Sams next week and check. The thing is that here in the Dallas area we have several Sam's. The one that has the York is not the one I go to most of the time. I have noticed that the one that has the York patties is higher on most of the other products I vend. So I don't go there a lot. They don't all have the same price. Last year I needed Monster drinks for a location. The one up in Denton, where the York patties are was $4.00 higher than the one I use closest to me. I started watching since then. Link to comment Share on other sites More sharing options...
loach33 Posted August 25, 2014 Share Posted August 25, 2014 York just went up about a dollar a case. Still that's only a half a penny per mint. If you have 50 mints in the box that costs you a quarter. The good thing is that price will probably hold steady for at least a year. The $12.42 price held for well over a year at least Link to comment Share on other sites More sharing options...
SnackInTheBox Posted August 26, 2014 Share Posted August 26, 2014 I am still paying $12.42 at Sam's. I decided to go with only the 3/$100 stickers. The thought was that the higher price might stray potential sales, and possibly raise more questions about the validity of the business. I have not tested this theory though, so I have no actual data to claim as evidence. Link to comment Share on other sites More sharing options...
Lake Cities Vending Posted September 1, 2014 Share Posted September 1, 2014 Went to Sam's today. $13.28 a box now. Link to comment Share on other sites More sharing options...
SnackInTheBox Posted September 4, 2014 Share Posted September 4, 2014 They're $13.28 for me now too. Link to comment Share on other sites More sharing options...
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