I'm having trouble pricing my cakes. For example: a Sheet cake to feed 40 people, decorated with palm trees in a luau theme and lie flowers around the border. How much should I charge?
I'd charge $50.00, but I've never been good at pricing my cakes either. 
i have never been very good at pricing either. i usually price my cakes acording to size when the are sheet or round cakes, because people tend to cut them different sizes depending on who the cake is for (larger for adutls, smaller for kids). for a half or full sheet cake i usually charge a flat price that includs the frosting choice, filling, and decoration like deco packs or edible image. and for the smaller cakes like quater sheet and 8,9,10 inch round i charge a flat rate for the cake and choice of frosting with a simple decoration (roses) and everything else is extra. this is the only way i have found that makes it worth it for both me and them, because with smaller cakes i found that after purchasing the ingredents for the cake, packaging of the cake, filling for the cake, and deco items i was basicly paying them to take my cake. and for wedding cakes i usually get all the information from the couple (size, number of servings, fillings, frosting choice, and deco they would like take the amount for supplies and add 1$ for every serving slice and it usually comes out resonably prices so no one gets ripped off. hope this helps
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