I've been doing cakes on the side for awhile now and everybody has been telling me to start my own business. I've been getting a lot of cake requests (hard to keep up with at one point).. But people don't understand what it takes to start a business. I currently have a full time job and do cake decorating because I enjoy it. Now, Is it worth it opening a business? I would probably do it from home (second kitchen), so not too many expenses. But i just need some opinions from those who have already been through it. Now, if I were to go full time with cake decorating, what can I expect wage wise? (say in 3-5 years from now)
AYour wage will depend on your business plan, your market, your competitive advantages, and luck. If you are successful you can probably look at clearing in the $30K-$70K range annually (including both your wage and profit accruing to the business) after a couple years, but of course you need to pay for your living expenses, business losses, and insurance in the meantime so being well-financed (or having other income coming in) is a must.