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Did I charge too much?? - Page 2

post #16 of 25
Thread Starter 
Quote:
Originally Posted by CWR41 View Post

$500. divided by 388 servings = 1.29 per serving ('80s prices!).

 

Ok...ugh! When you put it that way it's downright wrong what I charged! LOL! Lesson learned! I was so concerned about over-charging that I did myself and others a disservice! I am really the only one around here besides grocery stores that will weddings, so I didn't have any businesses to compare with. This helps immensely.
Thanks you!
post #17 of 25
Thread Starter 
Quote:
Originally Posted by vgcea View Post

Thanks for catching that. I went by the 300 in the OP, but it appears that was an underestimate. OP are you using party servings?
Nope...wedding servings. I tend to overshoot also because I run a resort kitchen: better to have too much than too little! And I am always concerned that the caterers who cut the cakes will be more generous than they should.
post #18 of 25

You undercharged, but now you have learned about how to price.  I have done the same thing.  Sometimes I underestimate how much to charge, but then the next time I have learned.  Still learning and still having fun at the same time...

post #19 of 25
Thread Starter 
Quote:
Originally Posted by Norasmom View Post

You undercharged, but now you have learned about how to price.  I have done the same thing.  Sometimes I underestimate how much to charge, but then the next time I have learned.  Still learning and still having fun at the same time...

Like!!!
post #20 of 25

Some things I try to remind myself, when I doubt my price:

 

A pedicure costs $20+tip and I have never heard of anyone negotiating the price. 

 

A specialty coffee from Starbucks can cost $5 or more, no one complains. 

 

A customer chose me because they WANT what I'm offering, not because they want a favor. My work has value to them. 

 

If a customer sees me as the professional or expert then that's what I am. Diminishing myself by cutting my price or apologizing in some other way is an insult to my customer and what they need from me.

 

 

You don't have to be arrogant, just be sure you're delivering what you offer and you do your best work. 

 

Jen

post #21 of 25

Well said Eva! thumbs_up.gif

post #22 of 25

I agree with all the comments here and have felt exactly as you do, down to the same conversation with my hubby also telling me I'm under pricing. For some reason, I too would cringe and be afraid to give a higher price. But then it hit me. As I was giving low prices, it was starting to take my joy away from what I love to do and on top of that I was afraid of being known as "the cheap cake lady" --- which is what I was becoming. I couldn't do that to myself, my business or my family. Giving low prices seems ok at first and that's probably because you love cakes and you're happy to do it, but you can't sustain low prices in the long run. Trust me it takes some time to get out of the "under pricing" cycle, but once you're out, you'll feel free and confident to give the same prices as your competitors.

post #23 of 25
Quote:
Originally Posted by ellavanilla View Post

Some things I try to remind myself, when I doubt my price:

 

A pedicure costs $20+tip and I have never heard of anyone negotiating the price. 

 

A specialty coffee from Starbucks can cost $5 or more, no one complains. 

 

A customer chose me because they WANT what I'm offering, not because they want a favor. My work has value to them. 

 

If a customer sees me as the professional or expert then that's what I am. Diminishing myself by cutting my price or apologizing in some other way is an insult to my customer and what they need from me.

 

 

You don't have to be arrogant, just be sure you're delivering what you offer and you do your best work. 

 

Jen

Darn tooting!!

"I can do that, because this is my sandbox and I've got the bullsh*% shovel." ~Dianne Sylvan, Author and Lunatic
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"I can do that, because this is my sandbox and I've got the bullsh*% shovel." ~Dianne Sylvan, Author and Lunatic
Birthday Cakes
(2 photos)
Birthday Cakes
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Reply
post #24 of 25
Thread Starter 
Quote:
Originally Posted by therealmrsriley View Post

I agree with all the comments here and have felt exactly as you do, down to the same conversation with my hubby also telling me I'm under pricing. For some reason, I too would cringe and be afraid to give a higher price. But then it hit me. As I was giving low prices, it was starting to take my joy away from what I love to do and on top of that I was afraid of being known as "the cheap cake lady" --- which is what I was becoming. I couldn't do that to myself, my business or my family. Giving low prices seems ok at first and that's probably because you love cakes and you're happy to do it, but you can't sustain low prices in the long run. Trust me it takes some time to get out of the "under pricing" cycle, but once you're out, you'll feel free and confident to give the same prices as your competitors.

Yes! What you said!! icon_wink.gif.
And where's the "like" button?? Lol!
post #25 of 25
Thread Starter 
Quote:
Originally Posted by ellavanilla View Post

Some things I try to remind myself, when I doubt my price:

A pedicure costs $20+tip and I have never heard of anyone negotiating the price. 


A specialty coffee from Starbucks can cost $5 or more, no one complains. 

A customer chose me because they WANT what I'm offering, not because they want a favor. My work has value to them. 


If a customer sees me as the professional or expert then that's what I am. Diminishing myself by cutting my price or apologizing in some other way is an insult to my customer and what they need from me.



You don't have to be arrogant, just be sure you're delivering what you offer and you do your best work. 


Jen

And what you said, too!
So much wisdom! So glad I joined!
Thx for all the advice ladies! icon_wink.gif
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