Project Update: More tarrif news
Hey everyone, as of now. There is a 104% tariff on imports. Due to this i have decided to order the max amount that i can once everything is locked and counts are definite. Though i was wanting to use the full amount of funds raised to buy as many of these guys as feasible, with the rabid increase in the tariffs i cannot feasibly afford an extra 45-53 thousand dollars in import fees on my own. Thus i have made the unfortunate choice to order the amount i can, while still leaving the same amount in a savings account to cover these tariffs.
After speaking with my manufacturer they have told me they use a DDP service for shipping, which should pay the tariffs for me. Though i don't think they are made to pay 104% tariffs. However, i want to make it very clear that if this DDP service does in fact pay for the full tariff, then i will use the remaining funds to purchase more plush! I will have extras either way up in my shop after fulfillment is complete. I will also gladly show proof of the order amount, as well as the tariff fee if it is incurred. But i am extremely hoping that this DDP service covers these ridiculous tariffs so that i am able to order the full stock of fish. There will be more than enough to fulfill orders, there will be no issues there.
I want to be fully transparent with everyone throughout this process, hence this update. I would also like to note that if this DDP service does not pay the tariff, or at least pay half the tariff i will not be able to sustainably do anymore projects due solely to these tariffs, i would need to raise upwards of 100k in the next project to have the same amount of designs, and cover the tariffs. I don't know how possible this even is, as it would also mean a higher amount of plush needing ordered to fulfill at least the backer orders. From my calculations it would mean we would need at the least 1,300 people ordering single plush to fund the next campaign if these tariffs do not go away. I'm not sure how feasible this is right now. I will be keeping everyone updated as the process goes. And i am holding out hopes that this is just a passing issue, and will not remain in place for long. I greatly appreciate everyone's support and encouragement in the last update regarding the tariffs. I WILL NOT raise pricing more than i have already anticipated. But hoping that this DDP will relieve the stress of these tariffs and allow the pricing to remain at $35 rather than rising.
After speaking with my manufacturer they have told me they use a DDP service for shipping, which should pay the tariffs for me. Though i don't think they are made to pay 104% tariffs. However, i want to make it very clear that if this DDP service does in fact pay for the full tariff, then i will use the remaining funds to purchase more plush! I will have extras either way up in my shop after fulfillment is complete. I will also gladly show proof of the order amount, as well as the tariff fee if it is incurred. But i am extremely hoping that this DDP service covers these ridiculous tariffs so that i am able to order the full stock of fish. There will be more than enough to fulfill orders, there will be no issues there.
I want to be fully transparent with everyone throughout this process, hence this update. I would also like to note that if this DDP service does not pay the tariff, or at least pay half the tariff i will not be able to sustainably do anymore projects due solely to these tariffs, i would need to raise upwards of 100k in the next project to have the same amount of designs, and cover the tariffs. I don't know how possible this even is, as it would also mean a higher amount of plush needing ordered to fulfill at least the backer orders. From my calculations it would mean we would need at the least 1,300 people ordering single plush to fund the next campaign if these tariffs do not go away. I'm not sure how feasible this is right now. I will be keeping everyone updated as the process goes. And i am holding out hopes that this is just a passing issue, and will not remain in place for long. I greatly appreciate everyone's support and encouragement in the last update regarding the tariffs. I WILL NOT raise pricing more than i have already anticipated. But hoping that this DDP will relieve the stress of these tariffs and allow the pricing to remain at $35 rather than rising.
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