I have a Commercial Kitchen, converted a 2 car garage. I do check prices around my area, (hadn't checked since I first was almost legal, a couple years ago) and besides for overhead, labor, and costs and profit, I want to be competitive, and get paid as much as I possibly can (duh!) I was using the an average between Wilton, and Earlene's charts , but I recently looked at some serving charts of bakeries in my area who participated in a bridal show, and saw they all use the Wilton Chart, so for ease of comparison, I switched to Wilton.
I also noticed that prices had gone up in my area, where one had been $2.90/ $3.75 fondant/buttercream was now $3.50/$4.50. And another who doesn't have prices posted (I got her brochure last year and this year) has gone up from $3.75/$4.50 to $4.90/$5.50.
Another's website expired 3 days ago (LMAO!) but their prices are $5 for swirls, dots, and minimal piping and $6-7 a serving for everything fancier. I was on their Facebook and they mentioned in comments that Cupcakes are $5 each, undecorated. and an 8" cake is $150
My prices are $2.75/$3.50. and frankly, I wasn't impressed with any of the cakes on their Facebook, save 1, but it wasn't really anything that most people would want. I hold my own with all in the area, some are better, some are not quite as good. ( and we all have our off days.)
I have a commercial kitchen, and not a store front, it is JUST ME, and no employees, so my over head is much less, so I figured I should keep my costs lower, but I have had several consultations in the last month and a few people were like "THAT'S ALL?" and "everything included??" and other general shock that the prices are so little, so should I raise them? Maybe raise them, and see what happens? lol. I know the higher priced bakeries are booked every week, while I am not. I make enough, when I make them, but I am thinking maybe my lower prices are being perceived as less quality.