Pricing strategy
Hi, I have recently started a cake business. My prices are quite affordable but I feel like for the amount of work that goes into it, I am not making much of a profit. My prices range from £45-65 for cakes.
Does anyone have a pricing strategy or framework to decide how much to charge customers please?
https://www.instagram.com/the.sweetmama.treat?igsh=M2VyMXU2enNqa3ds
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@Dami Aww thank you so much. This is very helpful, I'll create a price list with starting prices and charge for extras. Feel free to post the name of your page x
@Sandra I’ve just followed you! (UltimateFoodieCity) I can send you my price list aswell to help as a guide for you
@Dami that would be helpful thank you x
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I make cakes too, probably don’t post as much but your cakes definitely are worth that price range and more! Believe in your skills and people will pay. For a 3 layer 6 inch cake for instance I’d charge £75, I have a price guide which then states the cost for extras like toppers, multiple flavours and generally just any additional items on the cake. Have a standard cost for each size of cake then, add additional costs for anything extra your customer asks for. I also ask for a 2 week notice, anything inside that I charge £12 late notice fee as it puts pressure to get supplies faster and sometimes you have to pay for next day delivery to get supplies sooner. I’ll follow you now x