“The economy’s been an incredible challenge the last few years. Coming out of COVID, I think a lot of us as smaller businesses had hoped things would return to normal," Carabello said.
He said their business has seen challenges with supply chain shortages and now costs are increasing on everything.
“Everything that we are producing is costing significantly more so it’s not like, 'Hey only the coffee costs more, it’s only the packaging, it’s only the syrups or the oat milk.' Everything is up," Carabello said.
Cost increases are at 15 to 20 percent now for his coffee shop and freight shipping for the business is up 80 percent for the year. Keeping up with these costs could mean coffee lovers fork out more money for their cup of joe.
“We’ve got to raise prices. We’re trying to do that being sensitive to the consumer but there’s just no way that we can avoid it," Carabello said.
He said the goal is to keep people and quality in mind while finding ways to save money.
“I think the way we get through this is we start really thinking about what are our expenses? Where can we cut back? We all have to learn to live within our means," Carabello said.
He said he doesn't see costs going down soon, but knows strategizing like that could help his business, other businesses and other people in general manage during these difficult times.