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Personal V. Business Purchases...how Do You Decide?

In summary, the new products are anticipated by many and various items will be available for purchase. It is important to consider what you want and what will help the business. The expert offers useful advice on how to balance what to purchase for oneself with the needs of the business.
jackieblue
102
Like many of you, I am looking forward to the new products. I don't do enough to earn a ton of them, but I will most likely buy some once the "groupings" are announced.

I did find in some cases that the stuff I really wanted for ME (i.e. cracker tray and snack bowls) sold themselves when I brought them to shows. But, I know that will not always be the case.

Can some of you more experienced consultants offer advice about balancing what you want to buy for YOU v. what will help the biz? Part of the reason I started doing this was because I can't afford everything i want from PC. Well, I still can't, but now I have more to consider. :eek:

Good thing I earned the cookie sheet to bring to shows, as I never would have purchased it. Now I am drooling over the cute plates (which will sell, but I know I will buy enough to fill a caddy), the platter, the prep bowls, the appetizer cookbook (which I can sort of justify), the cookie press ($$ ouch), the measuring cups, and I haven't even seen the stuff in person yet.

Any ideas you can share about how you choose what to purchase with limited funds would be greatly appreciated. (I am not looking for "book more shows" just some help on how you decide what to get...)
 
I tend to buy for ME. If it is something I want and I use, then I am better able to sell it. If I am using it my kitchen often, then I am in a great position to offer all sorts of uses/testimonials for these items.
 
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  • #3
That is really good advice. I get a lot of positive feedback at my cooking shows from people who tell me it's obvious I am really using/loving the stuff. If I buy the stuff I am likely to love, I should be better at selling it. Of course, I may be trying to justify my addiction, LOL.
 
Once you get the package groupings list, it will be easier for you to decide. You can look at the groupings and see how much you're able to spend. Then you can look at the packages and see what you're most interested in and things you think you might want to show. What I do is get the groupings that I am personally interested in and then show those, even if there are a few items I wasn't personally interested in.
 
pampcheflisa said:
Once you get the package groupings list, it will be easier for you to decide. You can look at the groupings and see how much you're able to spend. Then you can look at the packages and see what you're most interested in and things you think you might want to show. What I do is get the groupings that I am personally interested in and then show those, even if there are a few items I wasn't personally interested in.

Yes, when you pick your groupings and get some things you may not want - you can always use those items as give-aways at booths, etc. Once in awhile I am asked to donate a gift basket to some sort of fundrasier (gets my name out too) and I use some of those items that I got in a package and have not used.
 
Jackie, just pay attention to what you can see yourself using most. Purchase the set that best fits that criteria. If they are things that work for you and the way you cook, you're more likely to use, enjoy, and sell them. There will likely be a few items available on supply orders. Otherwise, you'll still be able to save 20% on any single items you want. Of course, you can always do your own early September show and use the free product to get some of the new products. If, as time goes by, you find one or two other items that everyone seems to be asking to see, you can always buy those then.
 
I usually get whatever I see myself using the most, and then take a look at the new recipes for the next season, figure out which ones I'll offer the most, and figure out what tools I'll need for those, if any, that I don't currently have or can't sub with other things I have. GL!
 
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  • #8
Thanks, all. I guess I do need to wait for the groupings. Here's hoping I like them better this season! ;)
 

1. What is the difference between personal and business purchases?

Personal purchases are items that are bought for individual use, while business purchases are items that are bought for a company or organization.

2. How do you determine whether a purchase is for personal or business use?

The determining factor is the intended use of the item. If it will primarily benefit the individual, it is considered a personal purchase. If it will primarily benefit the business or organization, it is considered a business purchase.

3. Can I use a personal credit card for business purchases?

It is not recommended to use a personal credit card for business purchases as it can make tracking expenses and tax deductions more difficult.

4. Are there any tax implications for personal versus business purchases?

Yes, there can be tax implications for both personal and business purchases. It is important to keep accurate records and consult with a tax professional for guidance.

5. What is the best way to keep personal and business purchases separate?

The best way to keep personal and business purchases separate is to have separate bank accounts and credit cards for each. This will make it easier to track expenses and avoid mixing personal and business transactions.

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