I heard years ago that if many people are buying from you, but you aren't turning a profit, your prices are set too low. I'm in the process of getting an LLC for my at home cake business. I intentionally started this business twelve years before I retire, so I can weed out the customers who want me to work at a loss. I can easily tell them no, and build my business based on profitability. Such a helpful video and I appreciate you sharing your experience because it helps us all. Especially newbies like me❤️
I woke up this morning with a pain in my wrist and neck because of cake decorating and i realized that I'm running this business in a wrong way and i should ask for higher prices
i never thought of this, thank you so much for this video about teaching of a baking business, i never thought of this thank you very much for this information. thank you be safe and well.
Learn how to price your cakes with ease with some helpful tips from the experts! :) More Cake Business Tips available on our website - www.designer-cakes.com/learn-to-run-your-own-cake-decorating-business
I love this! I have an event planning side business, and these tips and 'formula' can be interchangeable to that world as well. I recently just started expanding to making cakes, cake pops and treats
MzKinkyCurl Fantastic! Congratulations on the expansion and I am glad the formula will come in use for both businesses! Best of luck in your new venture:-)
Thanks Paul, great tips. I'm a home baker. But always wondering if I'm charging right. I had friends in business who said they always charged everyone the same price no friends or family discounts, as they felt everyone was family/friends that come to you for your service so everyone paid the same price.
Thanks Kimberly. There seems to be a sense with some people because its cake then they should reduce the price for friends and family, but that can lead to an acceptance of undercharging, which looses profit and ultimately could cost them their businesses.
Hey Kim it can be a challeneg but I and my wife started out at home and now sell online globally and have had a great amount of success. We teach how to start a food business on youtube as well great info
Thank you. That was encouraging and inspiring, with good tips I do believe for most of us. We do our job with so much love and passion and at the end it as always the biggest problem...How much do I charge.?! Thank you on so many honest and great advices.
great points people really don't know the hours that we spend making sure the cake is beautiful. i always treat my orders as if they were for me i love baking so i tell my customer's this n they either pay or dont.
This was really helpful wish I'd seen it before, thankfully I've managed to figure this out for myself! The main advice I would give is like you said be confident! You really will be surprised, those who want quality will pay for it. There are those customers who will try to barter or bring you down but stay confident and don't be open to that conversation of lowering your price!
Very insightful. I've a pain in my arse from cheapskates. One lady wanted a fully decorated wedding cake for 300 guests for 250 euro's. I told her to.........go and look somewhere else!
Jackie o sullivan Jackie ..you should have said yes sure darling..if you don't need it to be edible and show her a skimpy piece of a blob as an example of what she can expect. Then say. ARE YOU SURE THATS WHAT YOU WANT TO GO FOR ..?!!😃😃😃🍰💸💸💸💸💸
specialgifts LA being nasty to a customer will not help your business. It's sufficient to politely reply that you can't fulfill the order at this price, and you hope there's something else you could do for them.
Its' 30% Ingredients, 30% Overheads, 30% Pay, 10% contingency/tax. A complete description and ways to flex the formula are available on CakeFlix Business Boot Camp... www.cakeflix.com/cakeflix-business-boot-camp/
Hi Mona this is just a short taster. There's a lot more information that goes into pricing cakes. If you try www.designer-cake.com you'll be able to find more resources relating to your query.
I am starting and someone asked me for a cake for 200 dollars. And I told her 200 dollars, 2 for a piece. And they found to high price. And I never heard of them. Do you think some times is hard to price poor people?
Susete Monaco I think it is often very hard to price for specific customers, however these people are not the customers you are looking for. If you are using good quality ingredients and offering a good product, you will attract the right customers, and gain the price that you deserve.
Very informative video but one thing puzzles me...............Why talk in 'dollars' when you're obviously from Scotland, what happened to the great Scottish pound?
A 100 dollars for a simple design??? What is a simple design?????? How big??? Has it got sugar paste??? Fillings??? Unless you specify I have learnt nothing!!!
I heard years ago that if many people are buying from you, but you aren't turning a profit, your prices are set too low. I'm in the process of getting an LLC for my at home cake business.
I intentionally started this business twelve years before I retire, so I can weed out the customers who want me to work at a loss. I can easily tell them no, and build my business based on profitability.
Such a helpful video and I appreciate you sharing your experience because it helps us all. Especially newbies like me❤️
I woke up this morning with a pain in my wrist and neck because of cake decorating and i realized that I'm running this business in a wrong way and i should ask for higher prices
Thank you for such solid advise. Pricing is the hardest part of this business to me!
i never thought of this, thank you so much for this video about teaching of a baking business, i never thought of this thank you very much for this information. thank you be safe and well.
Learn how to price your cakes with ease with some helpful tips from the experts! :)
More Cake Business Tips available on our website - www.designer-cakes.com/learn-to-run-your-own-cake-decorating-business
This was so helpful, thank you so much
Thank you :-) We have lots more business and pricing help available at www.cakeflix.com/course-category/pro which has a 7 day free trial
I love this! I have an event planning side business, and these tips and 'formula' can be interchangeable to that world as well. I recently just started expanding to making cakes, cake pops and treats
MzKinkyCurl Fantastic! Congratulations on the expansion and I am glad the formula will come in use for both businesses! Best of luck in your new venture:-)
Thanks Paul, great tips. I'm a home baker. But always wondering if I'm charging right. I had friends in business who said they always charged everyone the same price no friends or family discounts, as they felt everyone was family/friends that come to you for your service so everyone paid the same price.
Thanks Kimberly. There seems to be a sense with some people because its cake then they should reduce the price for friends and family, but that can lead to an acceptance of undercharging, which looses profit and ultimately could cost them their businesses.
Hey Kim it can be a challeneg but I and my wife started out at home and now sell online globally and have had a great amount of success. We teach how to start a food business on youtube as well great info
Thanks for breaking the cost down to me, because I seriously was under charging!
MzKinkyCurl I am glad this was able to help you out :) x
Love this formulae and will definitely be implementing it into my business. Thanks for sharing! 👩🏽🍳👌🏼
Thank you. Good luck :-)
Love your idea. I'm just doing my research before I get started. I do under charge...I need to up my prices. Thanks for your video.
Thank you for this, gives me more insight!
Thank you. That was encouraging and inspiring, with good tips I do believe for most of us. We do our job with so much love and passion and at the end it as always the biggest problem...How much do I charge.?! Thank you on so many honest and great advices.
Hi Danijela. We agree. Glad we could help :)
Some very good points in here, thanks for sharing!
Erin F Thanks Erin! x
great points people really don't know the hours that we spend making sure the cake is beautiful. i always treat my orders as if they were for me i love baking so i tell my customer's this n they either pay or dont.
Too true :)
Thanks very interesting topic, so much to think...
Good tutorial. Thank you.
Marilyn Caro Thank you for the kind feedback! I am glad you enjoy it :-) x
Thank you!!!
Great info Paul. Many thanks.
Thanks for the tips cux i have been under charging that after everything i rather lose.
thankyou Davis,this is really helpful
Very useful ! Thank u!
Fantastic! Thanks
+Tulasi Devi Glad you enjoyed it! x
This was really helpful wish I'd seen it before, thankfully I've managed to figure this out for myself! The main advice I would give is like you said be confident! You really will be surprised, those who want quality will pay for it. There are those customers who will try to barter or bring you down but stay confident and don't be open to that conversation of lowering your price!
Thank you so much - great insight!
Thank you for the supportive video 😊
Very insightful. I've a pain in my arse from cheapskates. One lady wanted a fully decorated wedding cake for 300 guests for 250 euro's. I told her to.........go and look somewhere else!
Jackie o sullivan Jackie ..you should have said yes sure darling..if you don't need it to be edible and show her a skimpy piece of a blob as an example of what she can expect. Then say. ARE YOU SURE THATS WHAT YOU WANT TO GO FOR ..?!!😃😃😃🍰💸💸💸💸💸
specialgifts LA being nasty to a customer will not help your business. It's sufficient to politely reply that you can't fulfill the order at this price, and you hope there's something else you could do for them.
I WAS LOOKING FOR YOUR VID ON HOW TO GAIN CUSTOMERS. ??
Where do I find this formula?
Its' 30% Ingredients, 30% Overheads, 30% Pay, 10% contingency/tax. A complete description and ways to flex the formula are available on CakeFlix Business Boot Camp... www.cakeflix.com/cakeflix-business-boot-camp/
thanks and God bless u.
wow your amazing, thanks
good advice
I also do free samples so they will no what to expect for as taste ,wedding cakes charge 800to 1000 an a regular cake 150 to 200
Always a good idea as well if you have the time :)
Thanks for this video new subscriber here! :)
How we know the size for 5 pound cake
Hi Mona this is just a short taster. There's a lot more information that goes into pricing cakes. If you try www.designer-cake.com you'll be able to find more resources relating to your query.
I am starting and someone asked me for a cake for 200 dollars. And I told her 200 dollars, 2 for a piece. And they found to high price. And I never heard of them. Do you think some times is hard to price poor people?
Susete Monaco I think it is often very hard to price for specific customers, however these people are not the customers you are looking for. If you are using good quality ingredients and offering a good product, you will attract the right customers, and gain the price that you deserve.
if you are starting, shouldn't you attempt to keep prices moderate to attract customers?
ladama watch the video again lol
thanks
Very informative video but one thing puzzles me...............Why talk in 'dollars' when you're obviously from Scotland, what happened to the great Scottish pound?
Mandy Flynn Thanks Mandy! We simply referred to dollars, to make the tutorials relevant to our worldwide audience.
+Paul Bradford Sugarcraft School thank,s ..i am grant..nice topic.
It is hard, I think in my environment I deal with very mediocre people taste. Thank you any way. I will see how I attract other class of people.
Susete Monaco Best of luck! x
God bless you
Это самое правильное видио по ценообразованию, которое я просмотрела!
Family members are the WORST, my family members always wantedd me to make an expensive cake for next to nothing
Wow. I totally undercharge 😔 thank you.
Sarah Le Moignan Great glad to hear you are going to be charging more! Go get 'em! x
A 100 dollars for a simple design??? What is a simple design?????? How big??? Has it got sugar paste??? Fillings??? Unless you specify I have learnt nothing!!!
He was just making a generic example.