Make sure you consider cake boards, dowels, etc and other structure devices when tallying cost.
oh shoot , forgot all t hat..tee hee.
and any and every thing you use from icing to filling !!!
and if you deliver!! don't forget to decide what you want to charge for that...
I have a teeny tiny car my gas tank fills up with 9 dollars...so I charge a flat fee of $10.00 for delivery in 2 counties...That more than pays for my gas!! lol
A fillup for $9.00??? Boy that is one small car!!!
oh double shoot..it's a 9 gallon fill up..ugh..lol
But IT'S STILL A SMALL CAR..lol
my little BOOP MOBILE! lol
I like the old adage "if you don't stand for something, you'll fall for anything." Applied here I would take that to mean that if we offer high-end cakes at high-end prices, we have nothing to be ashamed of. It's our reputations out there! And to look at it from a reverse standpoint, would you buy food or something for special occasions from someone whose standards fluctuated based on the latest polls of their consumers? I wouldn't! People like consistency and high quality. I frequently offer discounts -- $10 off the whole order if buying two (8 inch) cakes, etc. But the customers understand that's me giving them a deal without lowering my standards.
I drive a big ol' '99 Ford Expedition and that is ever so much fun to fill up with gas. my $$$$ just flies out of the wallet at the pump. Funny thing is we have a large family and could actually probly use a little larger vehicle, but that won't happen till this one dies.
I just got 2 more orders (this time from my SIL) for my neices birthday.
She's demanding she pay me full price, but she is always buying my kids clothes and giving us her daughters expensive clothes so I'll probly give her a discount. I'm taking 40 decorated cupcakes to Ericka's school on friday and making a soccer ball cake for Sundays party. (She makes $30 an hour so she said she really can aford to pay me full price----which would be nice, but I just can't charge her that because of how much $$ she has saved me in clothing.)
NO WAY are you charging too much!! 
People truly crack me up sometimes! Before I decided to raise prices ( I was working for practically NO profit in the beginning...) I had to decide if I wanted to work two to three times as hard doing two to three times as many cakes....or just raise my prices. I was told by so many people that I was undercharging.
SOOO...I began to raise prices and I kept a very steady amount of business going. Maybe some decided to go somewhere else, but I didn't notice and didn't care. ( I don't mean that in a bad way...I just mean that was their choice and I was fine with that. )
I wasn't stressing myself out working soooo hard for nothing! You will always have some that complain, and then you will always have your loyal ones that appreciate and know the work that went into your cakes.
Good luck and don't back down! My sis and I make cheesecakes and we know how expensive they are to make....she charges $30-$40 per cheesecake and she is on the lower end!
Hang tough! 
Quote by @%username% on %date%
%body%