Fantastic Video On Pricing!!!

Business By amandalee4 Updated 5 Apr 2018 , 11:15am by 810whitechoc

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amandalee4 Posted 30 Mar 2018 , 7:00pm
post #1 of 5

Hi everyone. i just wanted to share a video i just found and finished watching..... it. is. amazing!

i have such a hard time pricing my cakes accurately. i have a hard time charging people. this couple break down everything and show real numbers on how much just a standard 8" round cake SHOULD cost. its still hard to believe, but its mind opening. 

they explain how we as cake artist are hurting ourselves and the industry by under pricing. 

please please take some time out to watch this video. i will try to put a link, but if i cant do it right, its on youtube by The Cake Mamas and the video is called How to Price your Cakes!

please give me your thoughts on this video or topic in general. do you agree, disagree??....

thank you. and i absolutely LOVE cake central!!!!


please type it in youtube if the link doesnt work --  The Cake Mamas: How to Price your Cakes!

blush

4 replies
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810whitechoc Posted 31 Mar 2018 , 8:17am
post #2 of 5

They are right in their break down of how to price a cake.  I no longer answer "How do I price this cake"" questions on CC because it is as complex as they say.  I will remember this and from now on tell any newbies to watch this video.  It also shows you why paying attention to how much you pay for ingredients/utilities etc is so important.  They are also absolutely right about how people running a FB "business" from home but only charging hobby prices damage the whole industry.  I use CakeBoss to price out my cakes it's easier than using my brain :-)

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810whitechoc Posted 31 Mar 2018 , 8:18am
post #3 of 5

My emoji button is not working :-(

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amandalee4 Posted 31 Mar 2018 , 1:55pm
post #4 of 5

Hi. thank you for responding. can i ask you about cake boss?  when you put in all the information, does the total price of the cake equal to a similar number (as the price they showed in the video)?  because its from CakeBoss, im sure he includes the hourly wage and utilities as well, correct?

does anyone else use cake boss software and like it?

thank you for your response 810whitechoc :)

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810whitechoc Posted 5 Apr 2018 , 11:15am
post #5 of 5

Hi Amandalee, CakeBoss takes quite a while to set up because you have to enter all your recipes and current prices for your ingredients, wages, utilities etc but once it is set up it is very simple to use and yes you include the wages, utilities etc so you can work out the correct price.  To accurately work out the overall costs for your business you need to know things like your break even point and I have found it useful for that.  I used to have a very expensive and fancy computer programme to cost my business, it cost $1000 and then hundreds more in labour hours to have all costings etc entered on, it was so complicated it did my head in.  CakeBoss cost me $150 and I was able to enter everything myself and now it is very quick if I am looking at a new recipe to get an idea of price before I cook it to see if it is worth my while to do. 

Of course I also have a cloud based accounting system to take care of the accounting side of my business, wages, taxes, P&L etc

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