you are correct jea48, and there's the cost of the money(itself) they need to operate...same applies to manfacturers....and shipping is higher than ever too. when i worked for a manufacturer, our 'raw' cost of goods was about 20 percent of wholesale. the wholesale in turn was 50% off of retail. throw in all the above, as well as advertising co-op, marketing, travel to bs shows, mia gear, payments, etc, and you're lucky to keep your head above water.....the business was murder fifteen years ago, can't be anything but worse now. you really have to love it to hang in at any level.
