Tips For Finding the Right Pricing For Homemade Cakes
Many hobbyist cake makers decide that they want to begin selling the cakes and other bakery creations that they may, in an effort to make a little bit of money from their hobby. Luckily, selling cakes is relatively easy as anyone that you know that is having an event may be interested in purchasing take from you. However, pricing the cakes can be very difficult, especially if you do not have previous business experience. There are many things that need to be taken into account as you look at how much to charge for your homemade cakes, and an effort to make sure that you are not charging too much, but are still being paid adequately for your time. A few of the things that you need to look into include the amount of time that you put into creating the cake, the price of the materials including the icing and mixes, and whether or not the event and relationship with the clients are going to affect the overall price of the cake.
How Much Time Is Put Into It
Start by putting a price on your time. How much is your time worth? If you are spending four hours working on the cake, how much money would you like to be paid per hour? This is a simple and easy way for you to put a price on your time, and have somewhat of a predictable hourly wage for your work. The amount of time that you put into it should be directly reflected in the overall price of the cake, regardless of who is purchasing it. By putting a price on your time, you can also have a simple and effective way to explain your prices to those that are purchasing your cakes.
Overall Price of Materials
Another huge factor when you are pricing homemade cakes is the overall price of the materials. Keep in mind, that many cakes are quite expensive, and require you to by a lot in the way of materials. This comes from dough enhancers, commercial cake mixes, and the sourdoughs that you purchase in order to quickly and effectively create the cake. The price of the materials is going to be a huge factor that needs to be taken into consideration when pricing the homemade cake.
The Event and Relationship
With Client The last thing that needs to be taken into consideration when you are looking at pricing your homemade cakes, is the actual event in the relationship that you have with the client. The events should be a determining factor in the price. For instance, you were going to likely be charging more for a wedding cake, then you would a birthday cake, regardless of the amount of time that you put into it. Also, you are not going to charge friends the same price that you would a random client. All of this will help you to effectively price your homemade cakes, and a way that will be beneficial both for the client, and for you as well.
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