Your best bet is to look at your competetion.
Figure out your overhead and how much you will have to bake to meet those costs. break it down, look it over good.
We started with low prices and quickly realized if we wanted to keep our heads above water we couldn't be in business to give customers good deals. So our prices went up and continue to go up as needed.
Remember grandpa said, "when I was a boy I got 5 pieces of gum for a penny."
Well prices continue to go up.
mpc
sarahe, if you email me at [email protected] I'll give you a copy of my spreadsheet I use to help me price my cakes. If you will give me information about your other items, I'd be happy to create a similar spreadsheet for cookies and such.
alicegop, could I also get a copy of your spreadsheet? [email protected]
I am just starting out, have only been doing cakes for family but now other friends and family friends are starting to ask me. I want to be fair but I want them to order again.
Thanks,
AngelKake 
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