I have invested a lot of time and money to have a home based baking business. I like it a lot but would like to go back to school and finish up.
I tried this semester and the stress is taking a toll on me. I cannot continue my business this way and do the coursework. I am considering making a minimum order of $100 so that I reserve my time for weddings and larger cakes and/or requiring a minimum of a week's notice for orders.
I don't want to give this up but I really want to graduate too. I know I can't have it all. Has anyone been through something similar? Or have a suggestion for how to balance all this?
If anyone has ideas here I would appreciate it. Thank you!
I am not sure how well your business is doing now. To get the wedding business, I think you have to either advertise a lot to get your name out there, or start from the bottom up - i.e. do smaller celebration cakes and people will know your work and quality. Would they be willing to spend $100 on a birthday cake where you live? (You would know your clientele) It depends on how big a city and town you live in. It also depends on if you are a care giver - if you have kids, etc, how small they are and all those other variables. Is there a way to do your degree online? Would a degree be more importnant than a business? Lots of questions for yo to think about and onlyyou can figure out the answers to them.
I think only you will know how much you can do and what you have to give up to do it. I think we live so much for tomorrow, that we forget about today! If your business is a success, do you need a piece of paper?
Is there a way to hire help so you can get coursework done?
I would make a list of pros and cons and see what you need to do. Also, listen to yor gut. If your business is new, it does take time to build - bt if you are consistent with quality, you will build it up. Also, when in doubt, I pray!Elaine
A lot of people have cake minimums of $100. In fact, I'm even cosnidering raising mine. It's much easier to do one high priced cake as opposed to 5 low priced cakes. And yes, if you have the skills, you will find people willing to spend big bucks on birthday cakes. And yes, I have paid my own prices for a birthday cake. It's really up to you how you approach your cake business to make it work with school. By the way, I have 3 kids under the age of 3, plus an 8, 11, & 14 year old. The 19 year old is off to college. Yeah!
Look at your records. How many under-$100-cakes have you done compared to $100+ cakes? You might find you're not doing that many small ones anyway, ergo it's not a big loss if you turn those down.
I remember one time when I worked for a manufacturing firm, I went thru and cut out 40% of our customers. Our office was almost in a panic that we were turning away 40% of our customers! omg! Until I informed them that these 40% only represented something like 5% of our total sales. we would actually make more money by not having to service a large number of customers who weren't really spending any money with us.
I have a minimum.
Honestly, how much work would you rather do? Think and work efficiently, or you will get burned out.
Two cakes at $100 each, or ten cakes at $20 each?
As a huge supporter of education, I don't think it's just a piece of paper. I have one sister that only went to vo-tech (the rest of us went all 4) and there have been MANY times that she has said that she wishes she had gone to a 4-year school. Education is not just a piece of paper. It gives you so many experiences and you skills you can build upon.
Don't pass up the opportunity. Set a minimum and finish school.