I live in Quebec, Canada, not sure if pricing differs much from one country to another. I was asked to do a fairly simple wedding cake that would serve about 50 people. I usually only do cakes for friends and family as gifts, so I never charge. So, what would be a fair price to ask for a wedding cake. Probably 3 tier, ribbon around the bottom of each tier with some flowers at each tier. Thanks in advance for your help.
I'm not sure what the regulations are in Canada, but I would check with your health dept. first to see if it's even legal for you to sell a cake out of your home (which is what I'm guessing you're doing). I would just hate to have you set everything up to do this wedding cake and you get fined or even shut down. My state allows you to bake out of your home, but there are very strict stipulations (ie: I can only sell at Farmer's Markets and at roadside stands and I cannot deliver to any place other than the market). What I did as far as the price goes is add up all the cost that you would have involved in making the cake; supplies, baking, decorating, how much you would like paid per hour, etc. Then check your local bakeries to verify if your price is somewhat in line with theirs. I'd try to not undercut my competition too much, don't need enemies! But on the same note, if it costs $3/serving for you, then by all means don't cut your price to $2/serving if that's what the competition is doing. I just used that research as a guide, that's all. I hope this helps and good luck!
I would say the first step is to figure out how much all the materials are going to cost you. Then maybe add 10% on top for the electricity and water you will be using. Next how many hours will this cake take you? Your time is worth something. How much per hour is your time worth? Once you get your figure call around a couple bake shops to see what they charge for a simular cake. This will give you an idea if the figure you came up with is about right.