I know the answer is probably all over the place, depending on a lot of factors: how long you've been open, how you got funding, marketing, market, etc. But I just wanted to throw it out there. Do you make money? good money? Not good? I'm making a poll so people can answer anonymously. Thank you!!!
One day I was at my hair dressers when a talk show came on the radio. The guy proceeded to tell people that they should call others who are in the business they want to be in and ask them if they make a profit and how much. I had two guys standing there who are self-employed and I asked them if they would be willing to give out that information to anybody who called. They both gave a resounding no. That information was rather personal and they would not discuss that with strangers.
I bet you it is the same for cake people too.
I think this poll is anonymous so we won't know exactly who is profitable or not. I'm interested in the results!
they would have to be making good money or they would be doing something else.
since i'm no longer in business, I'll happily share that yes, I was making a profit, even in the first year, which is unusual. Admittedly that first year wasn't a BIG profit, but it was there.
The hardest thing to deal with is cash flow, during the feast-n-famine season that sometimes hits. I'll even share a for-instance: In March 2009, I had sales of $2750. In April 2009, I had sales of just under $25,000. Fortunately, my Jan-Feb were good months, which got me thru March, until I could get into April. but I just hated managing cash flow. that's the part that will make or break you. You gotta really be on top of that.
If I hadn't had to deal with the arthritis in my neck, I most likely would still be in the shop instead of having to make the decision that I had to face.
Wow, great example Debi. Thanks for sharing details!!!
Just felt it needed to be pointed out...
You say you want to know if people are making money or not, but there isn't an option for 'not'.
Just yes, some or yes, a lot.
I tried to add that last option of "No, not making money", but it didn't show up.
Great point about managing cash flow! Thanks for that, I'm really learning a lot from you!
Overhead makes a ton of difference too. In NC, I can bake and sell from home. Some states will not allow that. M
My overhead is far less than someone in a state where they have to have a commercial space.
So, in a nutshell, my answer would be yes. I do make a profit. Whether it is a lot or a little depends on who's setting the gauge.