I had a customer ask me what I would charge to make this cake. It is an 8' chocolate with cherry filling and frosted entirely in buttercream. Considering it is a very basic cake with boxed mix, I told her $15. I am afraid now that I underestimated it. 
I am still new at this pricing thing. What do you think? Be honest. Thanks for your help.
I have heard of a method for basic bakes like that...to charge 12 dollars per cake mix....so if you use one mix to make that two layer cake.....charge 36 dollars! More if it's more complicated decorating. I think a safe way since prices vary so much from place to place is to call around to bakeries in the area and find out what they would charge for a plainly decorated bc cake with the filling.......I would at least charge 30 bucks though.
It all depends on the area in which you live. You may want to download the Cake Matrix to help you in determining your costs involved.
I would charge, in my area, about $20-$25 for this cake. You did a good job on it. Since you have told them $15, I would inform them that you are giving them a discount from your normal pricing since they are friends/family/etc. Let them think that they are getting a discount. They may end up referring other orders to you.
Good luck!!
extras IMO would be roses, hand molded figures, fondant, gumpaste anything that require more time than just icing the cake and a simple decoration with one tip!! I would DEFINITELY tell them they're getting a bargain....you don't want to end up having them refer you to a hundred people who all expect to get that cake for 15 bucks...you can barely get one at a grocery store for that!!
Hi MomLittr,
That's a good question? Extras? To tell you the truth, it kinda what ever they want. If it's not to complicated. Fresh fruit in the middle, I'll charge extra. For me I start at $25, because for me to make a 8", 9", or even a 1/4 sheet. Out of my pocket it costs me around $15. If I spend 2 hrs. decorating, and I start or quote them $25 then I'm only making $10 profit. Or $5.00 an hr.
Should I be charging more or less?
I am, unfortunately, new to this pricing thing, and clueless. I want to make a basic pricing sheet also and $25 for an 8" cake sounds right. I figured on $5 more for every inch larger as a base price sounds pretty fair. Now as far as sheet cakes, that is still not settled in my mind what to charge......thinking of $40 quarter sheet, $60, half sheet and easily $100 for a full sheet. Heck I think we deserve more than $5 an hour, but like my crafts, the per hour "wage" is ususally not more than that; where I make out is profit on the cost of supplies. Would welcome anyone's basic pricing ideas.
Thanks for the great tips! I think I will tell them it's a friend's discount. Although, she hasn't actually ordered the cake, only was asking about price. Also, where can I get a copy of the matrix? I am really bad at this pricing thing!! 
i probably would've said $15 too... it is a very basic looking cake (no extra colors you have to mix or flowers or anything) but since they want a filling i would probably charge an extra $5 for that... so maybe $20. my prices are very cheap seeing as though i'm just starting out... once i get better, i'll be charging more like everyone else but right now, it's a fight between me and the grocery store cakes 
mommabuda: I feel the same way, like I am competing with grocery stores and places like wal-mart and costco. I know that my cakes look and taste better, but people seem only to want what is cheaper, without looking at the quality of the work.
brey1180: Thanks for the matrix.
i second that. I have a hard time with excel.
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