I just started keeping up with the cakes that I was doing this month. I said I was going to start a total of what I spent next month .. Yet this month I have done a total of 6 regular cakes and 1 wedding cake due friday. I raise my prices and on two cakes I settle for less but on the others I got the price i ask for with no problem. How do you think I am doing
I don't think any of us are right to judge on how you're doing. If you're happy with that number, you're doing great. It's just that you know your circumstances (work, kids, etc), and how many cakes you can handle.
I would definetly start keeping a spending total, that's the only way you'll know how much you are actually making on each cake. Another total you may want to keep is the hours you worked on each cake too. I like to write that down because it gives me an idea of if I'm using my time effectively.
I know a lot of people will tell you on this site...don't feel that you have to go down on your prices. You obviously raised them for a reason, and you don't have to compromise because the other side doesn't want to pay for your work. The cake business is probably the only business where people think they can negotiate but still expect the work and creativity involved as if they were paying full price. You can't compete with the chain stores, but if you're happy with your pricing, stick with it, and you'll find the people willing to pay.
Good luck!
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