So this guy i work with ordered a cake from me...i really wanted to impress him and his family with this cake b/c well i am hoping he will tell everyone else about the cake i made for him and how good it was and then i will get more business....SO he asked me for a ball park figure on the cost of the cake...i blurted out "oh around $65." Well for some reason, I got the great idea to make a cake from scratch for the first time...and man am i learning my lesson...i totally quoted him the wrong amount! I didn't realize that a scratch cake cost so much more than my usual betty crocker cake mix.... 
...and that chocolate buttercream costs more to make than regular old buttercream.... ....So the cake i made for him that i said would cost around $65 actually costs almost $100!!!! I can't charge him $100 so i am cutting myself short and only charging him $75... 
....for a half chocolate sheet cake, filled with peanut butter filling, covered with chocolate buttercream and then a 2D cow cake i carved out of a half sheet cake, put peanut butter filling in, covered with chocolate buttercream then put a FBCT of a cow on it, that is going to sit on top of the first 1/2 sheet cake....so yeah i feel like 
now b/c i am cutting myself short $25...oh well i guess...the cake does taste wonderful though... 
....
Yeah, but you can let him know he is getting a deal in exchange for putting your name out there. Also, when people see how awesome the cake is they are SURE to want to order from you! Sorry for the $$ loss, but if it adds a great cake to your portfolio, it may be worth it. 
I am not legal ito a home bakery, so I consider almost everything that I do as practise for my portfolio. I am too embarrassed to ask for so much money anyway! I don't even actually give a price most of the time, I just let the customer know what is cost me to make and then leave it up to them. Can't wait to get work authorisation so I can get legal and actually charge!!!
I did a cookie order like this a few months back. The guy wanted 300 home made cookies in 4 flavors with splenda instead of sugar. I did it (thank goodness I love to bake!) but only covered my expenses on the charges. Again, like you, I figured it would get my name out.
He didn't offer me more money or anything just a thank you. I know better now and it was a good lesson. I've heard that many people have made similar mistakes when starting out.
Well on the bill i will be giving him, i only charged him like $5.50 per hour...(usually i do like $7.50)...and in parenthesis wrote discount rate for first cake order...but i think i will also tell him that i didn't charge him for the 3 pounds of Callebaut chocolate i used at $7.50 a pound! i think next time i might not use such a hig quality chocolate...don't get me wrong the cake and frosting and ganache taste great...oh well...who knows maybe he will give me a tip or something...and that will make up for the lost $$
Think of it as an advertising fee..This cake is going to taste and look so great that you are sure to get more business out of it, so you basically just put out your very first commercial...send lots of business cards along with his cake order and ask him to pass them out..
Well on the bill i will be giving him, i only charged him like $5.50 per hour...(usually i do like $7.50)...and in parenthesis wrote discount rate for first cake order...but i think i will also tell him that i didn't charge him for the 3 pounds of Callebaut chocolate i used at $7.50 a pound! i think next time i might not use such a hig quality chocolate...don't get me wrong the cake and frosting and ganache taste great...oh well...who knows maybe he will give me a tip or something...and that will make up for the lost $$
Nobody gives tip...they take things for granted!
i feel you on this one. last november one of my good friend's mom asked me to do a cake for her father's 80th birthday. after giving me a pick of a concept cake i did a variation of it and they loved it, especially the price. it was a scratch orange cake (it was a 10" & 12" ea doubled layered to be 6" high), strawberry filling, iced in cream cheese frosting. the cake was decorated w/ gumpaste oranges, candied orange peel, and thinly sliced oranges. seeing how it was my first big cake i only charged $100, which now i know was way off; but hey we learn. after the whole thing was done, i guess she saw how much work went into it and ended up giving me a nice tip (almost what i had charged her...so that worked out) i'm crossing my fingers for the same to happen to you.
we all learn from our mistakes.
chris
Totally agree with Indydebi. I actually do give discounts to work colleagues because they've been so supportive, but I ask them to tell people that they paid whatever the true amount of the cake was if they are telling people about it.
Don't beat yourself up about it consider it a learning experience, if you reprice the cake after you've done it and realise you should have charged more, make a note of the cost and next time charge that, let him know he got a cool deal, advertising is advertising!
You will definitely need a separate price for ganache. I had a wedding cake that I spent $100 in choc. It wasn't even coated in Ganache.
I hope you like scratch baking. I really do enjoy cakes, fillings, and frostings made with the best ingredients---oh, and love, of course.
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