I absolutely love baking. I'm a stay at home mom with my son and would love to make what I love to do into extra income for my family.
I know it will take a while for me to create a portfolio of my work and abilities and to become more skilled at decorating techniques so I most likely won't be bringing in any income anytime soon.
But, on the chance it comes sooner than expected I want to be prepared on having a set price ready to tell a potential customer, but I am so bad at pricing! I don't want to underprice because these are made from scratch and hard work goes into them, but I don't want to overprice because I am in no way a well known professional and don't want to turn people off with my prices. Help??
I would want to sell:
•2-3 layer 8" cakes
•2-3 layer 9" cakes
•2-3 layer 10" cakes
Mamawifeylife, there are lots of threads here about pricing, just enter "pricing" in the search field.
Just a few hints: Get your license etc in order (if applicable) and DO NOT UNDERCHARGE!!! You gonna burn out in no time.
Simple rule of thumb for me: ALL costs (write them down in DETAIL and you'll be surprised) for a cake plus my hourly wage.
Are you willing to work for 2.50$ an hour? (Just an example...) No? Then make sure you DO NOT UNDERCHARGE. Can't say that too often.
Good luck anyway.
The thing about baking from home I find is that people don't want a straightforward cake from you. If you are going to charge what you're really worth it's got to be beautiful and custom. When people want regular cake they go to the grocery store. If they come to you it's because they want something really special with all the bells and whistles. I thought I was going to be making CAKES, not the solar system, a sinking Titanic, giant hamburgers or iPhones but that's the kind of thing people want if they're going to be paying more than $30 for their cake. Make sure your piping, icing and sculpting skills are there and brace yourself!
I highly recommend watching the first part of the video for any newbie; listen to Shannon Bond's information on pricing. It's everything you need to know.
Hi! Mamawifeylife, I totally agree with Pastrybaglady...unfortunately that's the way it goes. Unless you're into that! But as far as pricing is concerned, that's quite a big, scary topic. But just because you may not have all the experience in the world doesn't mean that you should undercut yourself or not be satisfied with the money you're making on every order. Do what's comfortable for you. How much do you want to make? Remember, this is YOUR business. Take into consideration what other local bakeries are selling for as well...where do you want to fall in the spectrum of pricing?
Here's a video from Marie Forleo (she's an amazingly talented entrepreneur) that may help things make a little more sense.
Best of luck!