Ok, so I called today for pricing from the competitors, I live in a very small town and the comp. is approx. 30 miles away and one is approx. 45 miles away and we are the only 3 (that I know of). So, I priced a wedding cake to feed 100 people with BC, basic filling and bc flowers, the price was $175.00 that included the filling and flowers for the 1st lady and the other location didn't really know so she looked in her book and her pricing is for 154 people $142.00, 217 people $146.00 
, Even questioned them on the $4.00 difference and was told it was a basic cake that is why (frosting only).
My question is how do I price my cakes, and stay competitive to the area?? The first decorator is very, very talented and has a very reputable business, as far as the other one I'm not sure never seen her work.
I was trying to put prices together for my brochure and this just blew me away!!! Good thing is I am the only one that does fondant. 
Any advice appreciated
I ran into the same thing when I first started. I couldn't outprice the local bakery (who had pretty good cakes, btw) so I asked myself "What can I offer that the bakery cant?" I came up with free delivery and I stay and cut the cake. I offered a full package that included the cake, mints, nuts, plates, forks, punch, cups.
If you can't beat them on price, blow them away on service!
(edited to correct a typo)
match the first at least -- $1.75/serving.
and that would be for a basic BC w/ 1 filling and some BC flowers, minimal detail.
after that---
more for Fondant (could that be your specialty that sets you apart?)
more for fancier detailing
more for multiple fillings
or....
if wanting to keep pricing simpler (ok indydebi -- stop yelling in my ear!)
then $2 or so for BC w/ choice of 3 or so fillings, flowers and say some other add-on deco (like swags, dots, sotas, corneilia lace)
and $3 or so for fondant.
Don't compete with their prices. You don't want people coming to you because you're cheap, you want them to come to you because you're GOOD. Work on getting your quality so far up there that they'll come to you no matter what the price! You want to be the "Neiman Marcus" of cakes not the "K-mart".
Doug - Thanks, I was thinking on those lines also - I figured I would charge at least $1.75 for a basic cake and go from there.
Indydebi - I never thought of this approach! Thanks, I will have to look into this some more!!!
I think the second ladys approach is like a hobby for a little extra $$ - It's at a gas station (family owned) and I don't think she makes that many cakes from my understanding. One stop shop, get your gas, munchies and a Wedding Cake (impulse weddings 
) If it works what can you say!!
Thanks again!!
a wedding cake for 100 for only $142.00??? that is crazy. that is nor much money. yikes!
CakeBaker - I agree I'm not going to try and compete but I have to find my nitch somehow with the first baker because she really is a very talented decorator so it would be hard to compete.
melodyscakes - that was for a 154 person cake ($142.00) works out to about .93 cents a piece ( I can stay in business for that ) Right!!!
I think I'm going to pursue the fondant because that could be my specialty that sets me apart from her and she does not even like working with it. Her and I actually have a great relationship (professional), she has a cake supply shop also and I buy a lot of my things from her (support our local people). She is also going to put brochures in her shop of my cookies because she has no desire to do cookies so she helps with that way to. I really respect this decorator and she knows that I do cakes so I'm not hiding anything from her and she is very supportive!!! 
Thanks again everyone!
AMEN CAKE BAKER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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