I have a question. Someone recently asked me to bake a large cake for anevent. We agreed on me doing a two layer full sheet (16 X 22) Haitian cake (I am Haitian) with a coconut lime filling. Covered in buttercream and decorated with flowers. I quoted $130.00 to them. I was told that it was too much and they didn't buy it from me. (Wegman's charges $60 for a single layer full sheet with no filling and no specialized decorations).
My question is: Did I overcharge? I figured that the ingredients alone were going to cost about $80. The Haitian vanilla extract alone is pretty expensive to get. That would give me a $50 profit. I've always had a hard time figuring out what to charge for my cakes. This had me rethinking my prices. Any advice?
Welcome to the forum. Unfortunately, no one on here can give you advice on how to price your cakes; there are simply too many variables.
Here is a superb article about how to price cakes. (You will have to copy and paste. The hyperlink feature isn't working for this link):
If you are going to be selling cakes, the $150 for the software program (less 10% discount for being a member of CakeCentral) is a very worthwhile investment.
Everyone thinks cake prices are too high...the way I look at it is "what is my time worth? Is it worth it to me to take time away from my family and make all of these flowers and stress over things coming together to make a $25 profit?" If they are not a close friend..is it worth your time?
Your price was on the low side. Wegmans uses cake mix cake...you can always quietly point out that you are baking a specialty scratch cake. Pricing is about skill as well as labour time and ingredients.
I agree that your price was too low. (If your ingredient cost is really $80, holy cow!) Just because one person says that's too much doesn't mean that your price wasn't accurate. It just means that they can't afford that. The grocery store cake isn't the same, so the price shouldn't be the same.
I have been told on several occasions a price is too high, but I have developed a 'that's my price and I'm sticking to it' attitude. If I can't make it, I don't worry too much about it. Some people are very unrealistic in their expectations. If you work for nothing, you will burn out quickly.