Hey guys! So after more than 2 years, my business is finally taking off! I was even able to finally buy a dedicated cake fridge!
With that said, between the new overhead costs and ingredients going up, as well as valuing my time more, I’ve been thinking of doing a small price increase. The question is, is this something that I should tell people’s I’m doing? Most of my advertising is on fb, and I’ll be doing the price adjustment in July, but not sure if I should just do it, or give a heads up, because plenty of people already think I’m too expensive.
What do you guys think? Or maybe I should just leave prices alone?
sure raise your prices -- probably anything more than fifty cents to a dollar could/would go un-noticed -- I would not bring it to anyone's attention --
Many business - especially such as ours - raise their price *every* year. Not knowing what your pricing is now I cannot begin to know if you should leave it alone or not. From reading boards like this I find most are charging around $3 to $6 per serving.
My starting prices for buttercream cakes are $3/serving, using the Wilton wedding/event chart. I also do $2.25 per cupcake, or $27 per dozen. I like the idea of making a little bit more for my cakes, but also am afraid of coming off as greedy, especially when my town is full of 'cheap cake ladies' =(
I do have a lot of other things I offer, but the cakes seem to well, take the cake, haha. So that's where most of my money is right now.
making money in business at those price points is not a form of greed --
It isn't greed when you're running a legitimate cake business and not trying to finance a hobby. The price for ingredients goes up, the cost to buy a custom piece of work goes up. I don't think it is necessary to let anyone know that you're raising your prices. You don't have to justify the cost of doing business.
Thanks! I’m super happy about the sudden boom
of business! I was just starting to think that it wasn’t going to happen!