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please give me feedback on my cakes and how much should I have charged - Page 2

post #16 of 20
1/6/13 at 11:04am

Huh?  Of course it's important to know that. It helps her know whether the profit makes it a viable business.  I just said that.  My point was you left out an important part of the equation - what she can sell cake for in her market.  Every time I come to this site, someone asks this question and someone else says, "figure all your costs and then you'll know what you should charge". That's only part of it.

 

What the market will bear is not something you can just forget about. If I can make a hamburger for $1 and everyone is selling them for $8, maybe I should make hamburgers. But I'm an idiot if I sell them for $2 based on the fact that I think I'm making double my money.

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post #17 of 20
1/6/13 at 12:17pm
Quote:
Originally Posted by howsweet View Post

What the market will bear is not something you can just forget about.
You are absolutely right that both your cost and the market value is important. In my opinion it's more efficient to figure out your costs first, since that will give you a good idea of which markets you can participate in, but if you prefer to find out the price point for different target markets first that works too.

It's also been my experience that accurately determining your costs is more difficult than gauging market prices, so generally when I give advice on pricing the former is the first step.
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post #18 of 20
4/4/13 at 3:54pm
Thread Starter 

Thanks for the feedback. Is that 2 tsp or 2 Tbs per pound of fondant?

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post #19 of 20
4/4/13 at 4:58pm

Your cakes are great.  Charge whatever you want to make!!  You may find yourself turning down orders from people who can't afford your work, but you are good!  It's interesting to note that even if you think you are charging too much, there are people who won't think twice...then there's the opposite, the cheap, "I want a sheetcake price type."  You don't, I repeat, don't, want those customers.

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post #20 of 20
4/4/13 at 5:40pm
Thread Starter 

Thank you very much. I have learned the hard way that some people take advantage. I have increased my prices and have turned down some who wanted my cakes for the big box store price.

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