I met with a couple a few days ago. We talked, I listened to what they wanted, i sketched a quick drawing, they like it and I priced it as they tasted the samples I had brought. After the appointment I was thinking about it and i really think I overbid the cake, maybe by $75 or so...
We left it at they would contact me if they want to contract me or not.
Is it worth it for me to email them and tell them I overbid? I don't want to sound amateurish...
This is why I never quote prices on the spot. Ever. I have no idea how everyone else does it, but every time I've pulled a number out of thin air for a client it's either way over or way under. So now I refuse to do it on the spot and tell people I need to calculate the costs properly and will email it to them later.
But for now, I think you need to stick with what you quoted, and if you don't get the commission you chalk it up to a learning experience!
This is why I never quote prices on the spot. Ever. I have no idea how everyone else does it, but every time I've pulled a number out of thin air for a client it's either way over or way under. So now I refuse to do it on the spot and tell people I need to calculate the costs properly and will email it to them later.
But for now, I think you need to stick with what you quoted, and if you don't get the commission you chalk it up to a learning experience!
yes, I completely agree. This is what my "gut" has been telling me.... a learning experience for sure. Never again a quote on the spot. Do you have any advice on how to just get more assertive overall on presenting your pricing? I find that people don't really understand what some of these cakes entail and why we need to charge what we do...and then I am so self-conscious charging that I end up under charging!
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Original message sent by JBaringer
yes, I completely agree. This is what my "gut" has been telling me.... a learning experience for sure. Never again a quote on the spot. [B]Do you have any advice on how to just get more assertive overall on presenting your pricing? [/B] I find that people don't really understand what some of these cakes entail and why we need to charge what we do...and then I am so self-conscious charging that I end up under charging!
I do. Think about the long hours slaving away, time away from your loved ones, the amount of energy you put into the details. Think about the last cake you made, and how in the middle of it all prepping, cleaning, baking, cleaning, decorating, cleaning, running your oven, mixer, lights for hours on end, lack of sleep the night before the cake is due, did I mention cleaning? In the middle of it all you told yourself "this is why I charge $premium." When you write out the monthly insurance check or utility bill that NEVER comes with a discount. Think about all those things right before you even consider short-changing yourself. Look at the price you're quoting and ask, "Is it worth it?" The answer has got to be yes or you're wasting your time.
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Original message sent by vgcea
I do. Think about the long hours slaving away, time away from your loved ones, the amount of energy you put into the details. Think about the last cake you made, and how in the middle of it all prepping, cleaning, baking, cleaning, decorating, cleaning, running your oven, mixer, lights for hours on end, lack of sleep the night before the cake is due, did I mention cleaning? In the middle of it all you told yourself "this is why I charge $premium." When you write out the monthly insurance check or utility bill that NEVER comes with a discount. Think about all those things right before you even consider short-changing yourself. Look at the price you're quoting and ask, "Is it worth it?" The answer has got to be yes or you're wasting your time.
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Original message sent by vgcea
[quote name="JBaringer" url="/t/758759/overbid-a-cake#post_7396528"]yes, I completely agree. This is what my "gut" has been telling me.... a learning experience for sure. Never again a quote on the spot. [B]Do you have any advice on how to just get more assertive overall on presenting your pricing? [/B] I find that people don't really understand what some of these cakes entail and why we need to charge what we do...and then I am so self-conscious charging that I end up under charging!
I do. Think about the long hours slaving away, time away from your loved ones, the amount of energy you put into the details. Think about the last cake you made, and how in the middle of it all prepping, cleaning, baking, cleaning, decorating, cleaning, running your oven, mixer, lights for hours on end, lack of sleep the night before the cake is due, did I mention cleaning? In the middle of it all you told yourself "this is why I charge $premium." When you write out the monthly insurance check or utility bill that NEVER comes with a discount. Think about all those things right before you even consider short-changing yourself. Look at the price you're quoting and ask, "Is it worth it?" The answer has got to be yes or you're wasting your time.[/quote]
All of this, exactly! And you also have to have the presence of mind to walk away from a cake order, and not care if you get it or not! If you sound like you really want to make the cake and need the money, that makes you a bargain baker.
AComing up with at least a rough price range on the spot based on your experience and previous calculations (for example, fixed overhead) can be a real time saver if there is a discrepancy between the estimate range and the customer's budget. If the order involves a component you have never dealt with before and have no idea how to price there's nothing wrong with telling the customer you'll contact them later with the price.
If given the choice between erring on pricing too high or too low, I will price too high every time.
This is why I never quote prices on the spot. Ever. I have no idea how everyone else does it, but every time I've pulled a number out of thin air for a client it's either way over or way under. So now I refuse to do it on the spot and tell people I need to calculate the costs properly and will email it to them later.
This is exactly what we do. The most I do on the spot is give them the starting prices, but stress to them that price can go up from there depending on design. If I look at their design and can see right away that it's basic, I may go ahead and tell them the price because I'm just multiplying number of servings times price per serving. Otherwise, I tell them I will email them the quote.
I do. Think about the long hours slaving away, time away from your loved ones, the amount of energy you put into the details. Think about the last cake you made, and how in the middle of it all prepping, cleaning, baking, cleaning, decorating, cleaning, running your oven, mixer, lights for hours on end, lack of sleep the night before the cake is due, did I mention cleaning? In the middle of it all you told yourself "this is why I charge $premium." When you write out the monthly insurance check or utility bill that NEVER comes with a discount. Think about all those things right before you even consider short-changing yourself. Look at the price you're quoting and ask, "Is it worth it?" The answer has got to be yes or you're wasting your time.
PREACH! 
yes, I completely agree. This is what my "gut" has been telling me.... a learning experience for sure. Never again a quote on the spot. Do you have any advice on how to just get more assertive overall on presenting your pricing? I find that people don't really understand what some of these cakes entail and why we need to charge what we do...and then I am so self-conscious charging that I end up under charging!
You are a business. These are your prices. When you give someone a price, you're a businesswoman stating a fact - no ifs, ands or buts. If you owned a supermarket, would you be timid about telling someone how much the rutabagas cost per pound?
Having your basic pricing in place will fix this problem. "The price for this cake will START at $XXX.XX. I'll work up a more definite quote for the finished cake and let you know." Then, if the person balks at it or isn't willing to discuss a simpler version, don't feel bad about it - wish them the best with their event and let them walk away. How many times have you decided not to make a purchase because the price was too high? Did you try to shame the salesperson into giving you a lower price? Probably not.
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