talking to my in-laws tonight at dinner...they made me realize that if I really want to make this into a business and quit my day job...then I need to raise the prices...and factor in everything...they have had a succesful business for decades of years now (family) and manage money extremely well so I trust them...so here I am asking for help from you all since you know cake most! first ...please tell me what state your in and what your prices are if you dont mind and then tell me any tips if you have any on starting a REAL business...not just a stay at home bake a few here and there but really get going type of business where one day soon I could open up a shop. I need help figuring up how to add all costs up and prices and where to order what and such...i wish there was a cake coach that could help me along....
my prices right now are $20 for 8 inch round buttercream($25 for fondant), $25 for 10 inch buttercream ($30 for fondant), $25 for 9 x 13, $35 for an 11 x 15, $40 for a 12 x 18, $60 for a 18 x 24...and $1.50-2.25 per slice for buttercream and $2.25-3.00 per slice for fondant....how much should I go up?
Thanks so much to whoever can help me!
If you do a search in the business forum there are several posts about a business plan. it is a complex document that when done correctly will answer all your questions.
Simply, to make enough cake to pay the rent, utilities insurance, other overhead and a payroll (you can't do it alone) is a lOT of cake.