I am a young baker and i have started selling the baked goods that i make only about 4 months ago. I somewhat know how to price my products however i still havent found a solid price and was wondering how everyone else prices what they make? so far i sell cakepops, red velvet and vanilla $2 each, chocolate chip cookies on the bigger side $1 each and i sell brownies but i have no idea how to price them. Besides that does anyone have any tips on how i can improve and advertise my business? or some dos and donts that you have expirienced first hand? Honestly anything will help me
I've only ever sold cakes, iris.19, so no help with your questions. However, a long time ago, I did sell small loaves of banana and yam bread at our little market. The way I calculated the price was to determine my cost for ingredients, then tripled or quadrupled the price. That is a very simplified way of pricing, but it was just a sideline thing. This was in 1999 and I sold those 2" x 5" loaves for $5 each and they flew out the door faster than I could make them.
Pricing is very complex Besides what has already been said you also have to add in the cost of gas, electric, rent/a portion of your house punt, fuel for car when you shop for ingredients & deliver , other equipment used such as boards , boxes etc for packaging, your skill level, where you live and a whole lot of things I’m forgetting including paying yourself In my opinion you’re prices are too low - at least double them When you sell so cheap you not only hurt yourself but others Yes it takes a lot of time and work to come up with pricing but in the long run it will help you Add up your costs as Sandra said & at least quadruple that to cover those”hidden “ costs
Pricing is very complex Besides what has already been said you also have to add in the cost of gas, electric, rent/a portion of your house punt, fuel for car when you shop for ingredients & deliver , other equipment used such as boards , boxes etc for packaging, your skill level, where you live and a whole lot of things I’m forgetting including paying yourself In my opinion you’re prices are too low - at least double them When you sell so cheap you not only hurt yourself but others Yes it takes a lot of time and work to come up with pricing but in the long run it will help you Add up your costs as Sandra said & at least quadruple that to cover those”hidden “ costs
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