This is so random. But if you are presenting with someone else it is so important to ensure they get as much air time as you. Otherwise present on your own. And when you say you have a giveaway, you should include the person with you. “We have a giveaway”. Organize so that each person has speaking points. You cut him off so many times and were generally rude. He was a gentleman and maintained composure, but it would make this content 1000% better if you gave him his proper space in this video.
I guess Im asking the wrong place but does anyone know of a trick to log back into an instagram account? I was stupid lost the password. I would love any assistance you can offer me
@Zander Dillon I really appreciate your reply. I found the site through google and im trying it out now. Looks like it's gonna take a while so I will reply here later with my results.
Im have been watching pricing videos non- stop for the last 2 days looking for a clue and this video was by far the most informative, eye opening and useful. Thank you.
Fascinating...been decorating for decades, former shop owner, retired now and fully enjoying any cake that comes my way. Now its so much more fun!! W3 did okay, but it was never very profitable.
Interesting lecture. I will have to change my way of pricing cakes , because I have been robbing myself in that area. Thank u both. This lecture is an eye opener. V. Palmer
I can't thank you enough. NOw I know how to properly charge, an eye opener! Baking always been a hobby / side hustle of mine and now I'm ready to make it a proper business. So So happy and grateful that I found your video.
I'm a new Home Baker, and pricing is for sure the toughest part of it. I have seen many videos on how to price a cake. Most focus on ingredients, time, talent level, and going rates for your area. I have bumped up my prices. And checked the Going Rate Pay for a Baker in my home state at what I would call my level of talent.which where I live is between$10-18 and hr. So I charge $14. My house is all electric, and my electric has gone up, by about$200 a month,but my water bill also went up about$25-$35 a month. And honestly I thought I was doing good. Lol thanks! Now I realize how much money I am actually losing per cake. And you are right! I am taking from my house hold to cover these costs. Something I wanted to point out..... For New comers The cost of your equipment. Once you have repaid that cost for your equipment back to the household, or who ever loaned it to you, whatever your case may be, be sure to save that up again, keep it to the the side, an buy a whole new set of equipment. So when something breaks you already have on hand a replacement equipment, and start saving for a new one again. I have a Brand new Kitchen Aid stand mixer. But I mix my cakes by hand, and use that for my frosting and Fondant. I do use my immersion blender to mix up all wet ingredients, in batches, to save time. But it's like 8 yrs old now, and I will need a new one soon. But I know there is no way I can buy a new Kitchen Aid stand mixer, and no Way I can mix fondant and frosting by hand lol.
Glad I found your channel.❤❤❤ I lost my job during these hard times as a result of the pandemic and am planning to spend the little savings I have on a home-based cake business but don't have any ideas on how to profit once I start. I found your pricing tips very helpful.❤ Thank you so much and God bless.❤
Great great info, thanks for sharing it with us. Just one suggestion, it was a little hard to follow you at times because the wife was talking over him. Even with being passionate about what you do. When co-facilitating a topic it’s great to have some transition between each person sharing. Instead saying “ not only that” try in “addition to that” , it validates their input in a more positive way. Have a BLESSED DAY! New sub!
First time viewer and thanks to you both. I never thought about profit being above my wages. Excellent awareness! My interest at this stage in my life is to earn enough to pay my rent, not build a future. Tomorrow is my 65th birthday and too young to stop, but no desire to make a 20 year business plan. Lol So maybe a part-time income. But, a bit of profit will help me purchase better equipment. Thank you!
The most difficult area to get past are the "newbies" who make super cheap cakes for "exposure " . I absolutely realize that 1) I really shouldn't concern myself with that and potential clients who chose that over a skilled baker/decorator are not the clients we want...BUT, those clients tell friends too and it's frustrating to be undercut. They don't realize they hurt themselves as well as fellow bakers 2) They WILL BURN out quickly. So if you're a Newby and are doing super cheap cakes to break into the business..... charge what you should..... you'll help yourself and others. Also, an alliance with fellow bakers is so much better than a competition ;)
Absolutely! But it usually comes down to a SKILL they have to learn, which is CONFIDENCE in SELLING THEIR PRODUCTS. Just because you start a business, or just because you're good at making something, doesn't necessarily mean you'll be good at asking for the sale. They usually think that if they make it less, they'll avoid rejection and be able to close more sales. It's a lesson unfortunately people need to learn on their own.
I just stumbled across this video. Wow! I'm so glad. I have a catering business and I bake Jamaican rum cake, cheesecake, , let me just say, I have problem pricing.
I was just finishing up my calculator sheet for the cost of my sweets and just when I was almost done I heard profit! lol So I immediately added that profit margin row because I did not even think about profit margin and why it is important! Thank you so much for all your tips! :)
This video is so helpful, thank you! My brand new very small bakery is called Oak Leaf Bakery. I am a business major at Purdue. Art is my passion, with a love of baking. It is just endless what you can do with art and baking which keeps from getting bored. I have worked for two very large well established bakeries, there is so much I have forgotten. Your channel is very solid to learn from and has been my favorite. Thank you for sharing.
Thank you so much for all this helpful information! I just found and subscribed to your channel 😊 My family owned a clothing business for over 50 years! With that said, I grew up working in the store, going to clothing shows and learned about how wholesale works. We closed our store in 2016 due to the loss of my mother to cancer. My passion has always been in art, creativity and people skills. I started baking when I was 8. My mom had schooled me in proper measuring (metric), oven temp and the use of the right ingredients. Now being in my 40’s, I have been seriously thinking about starting my own business. Whether it be a brick and mortar or small home business, I feel ready to do my own small start up. I have already made a few cakes for friends and am starting to get more orders. Should I get my kitchen inspected and certified before I start with the new clients or a little later down the road? I wasn’t sure because it is only 2 orders. I haven’t decided on a company name, logo or the exact path I want to specialize in. I feel overwhelmed, but I would be grateful for a little advice!
Thank you for this information, I make cakes from home. When I buy supplies I buy them separately from my household. I keep my receipts and look to see if I made a profit.
Glad to provide some value for you! Definitely join our free facebook group Cake Cents! We offer tons of help for pricing and basics in the baking industry!
🤭 I love you guys thanks so much 💕! I've been learning to do a LOT I mean "A LOT 😅" but, I had No clue how to start selling OR how much to charge. I used to look at the store prices and think 🤔 oh boy🥴 I don't think anything is going to sell 🤣. But now I have a greater vision!
Yes this was beneficial and it was a heart check for me. I’m just starting and luckily I came across this video, I just want to get it right so I’m not struggling and my passion becomes a burden.
Thank you for your advices. I have not started on home bake. I am afraid to jump in and want to get some solid research on how to get started as a newbie.
I don't because that was 14 years ago! But I've always approached my pricing formula the same way. Obviously my pricing has changed over the years to factor in the different variables between having a storefront vs. working out of my home but ultimately the formula is the same.
I have a Heart Shape Collection Cake Pans and I have searched Goggle looking a guide for serving size of 4 and 5 inch. The guides of Heart Shape sizes start at 6 inch. Please advise.
@@TheCakeMamas Not anymore, I food a BBQ Food Truck Business that was looking for someone to bake Pound Cake and I specialize in Pound Cake. I have plenty of time to research the price for my Heart Shape Collection different size cake prices.
Thank you both for generously sharing this type of knowledge especially for beginners. I really appreciate how you guys take the time to breakdown each cost of running the business. Great job on this video! This is by far the best video I've seen in detailed about pricing and profit. I would also like if you guys do a video on the last part of the video which you mentioned about reinvestment. Will be looking forward to this! Cheers to you both 👍
Definitely join our small business community called Cake Cents on Facebook! We share tons of tools & tips (including pricing) to get you paying yourself!
how do you do it per cake size.... I will do researched and i feel like my prices are fine but when i get down to this i feel like im undercharging. Im not sure how to per cake
Hi, guys, this was awesome, thank you. No doubt you've been asked this a hundred times already but like you said how do you get people to pay $300 ish for a cake when the supermarkets sell them at like $30? I know the difference is huge but I read that lots of people have to justify this to a potential customer and it puts me off/makes me anxious to start. I am just thinking of starting a small business from home so this is all brand new to me, so watching and learning! Thank you so much for the awesome advice - keep it coming!! 🥰
It all comes down to how you market your product, finding your ideal client, and knowing your value propositions. They can't get at the grocery store what they can get from you... remember that!
Thank you soooo much. I so need to start making a profit. I'm a new business owner, but I know I;m not making a profit. I have the cakeboss software and I'm not sure how to incorporate the utilities, cleaning supplies and equipment into it. Also my equipment I had already before I started my business do I still incorporate it? I also want to make more cakes and stop working part time and work my business fulltime.
On the overall what percentage should I add a profit tag, on all of my bakery items to support wages, ingredients and miscellaneous costs, pricing of Bakery items was not mention from biscuits to cake
Oh my cake! Thankful very much for youtube. Need a lot of scribbles and reevaluate how to price my cakes. Rubbing my partner hardcore. Thank you so much. Very much appreciated the effort you put in this.
Why did you say the cost of untensils should be spread out over a year and that unit cost should be added to each cake? If my oven lasted 3 years before it broke shouldn't I spread out the price of the oven over 3 years instead of 1 year? Is there something I'm missing? Just thinking what is the right way to do this.
Actually your video is amazing I learned alot ! I ONLY have one question here please if you answer me it will be really appreciated, if I increase my prices like how you said No one is gonna buy from me ! They will all go to the cheaper sellers , what should I do about that !????
They aren't your ideal client, period. That's just an excuse you're telling yourself for why you aren't making any sales. If you verbalize the value of your products, people will BUY from you.
Remember that the people you WANT to bake for will drive to a other city to hire someone who appreciates his/her own worth, before they go down the street to buy from a baker who doesn't. Your pricing tells clients that you have a great product, one that is superior to that of your competitors (Make sure that it is!) Higher prices also signify that you have skills that none of the other local bakers have. And believe it or not, there are people that will buy a hand bag for $2500 even when they they can get the exact same bag for $300. They refuse even the 'appearamce' of looking like they are low or middle income. It's all about appearances to them. Even if they really are broke. Improve your skills and charge like you're only looking for the elite client; or a poor client who knows you're the best, so she's saved her funds just so she can purchase her wedding cake from the BEST BAKER AROUND!
That's where I struggled..... Making sure I factored in a decent profit. I always try to live on less and I use some funds (per order) to buy new materials. Because I am not a fan of loans. But yes.
I actually own a sandwich and bagel shop and am looking to "grow/expand" our baked goods. Finding information regarding ovens and piping equipment etc is such a pain, if you have a vid please lemme know (I havent spotted one) and if not, maybe a vid on that is a good idea(?)
Thank you so much for the information! I totally was robbing myself for three years. especially I want to thank you for explaning the difference between the salary and profit because only after listening to you I understood that was getting it wrong the whole time! I live in Korea and cakes here are not so popular, most people freak out when you tell them the price that's more than 60-70$ and I don't really know how to deal with it here. I'm slowly adding up and up, but right know I don't have any profit. How to overcome that common fear that no one would order from me for the real price? Or in other words - how do you painlessly change your clientele? Because people from my circle can't afford a cake for 200$, but sure some other people will pay even more for that, it's just that I am not in their circle myself, so I really don't know how to present myself to them and how to market my product to those people.
I got my very first order :) The customer wanted 36 cupcakes, with 4 different flavors of cupcake, 4 different flavors of frosting and in 4 different colors. I did my best to price out the cost of my ingredients and I got $47 (I used bake diary). I wanted to charge $10 and hour for labor, but these cupcakes are going to took me 8 hours. So, if I do $80 plus $47, that equals out to $127. I haven't even added in all the other things like overhead. I felt like that was too high of a price because I'm brand new. So, I just did $47 multiplied by 30% for labor and overhead, the I added another 20% for profit. The total came out to $73, so I rounded up to $80. Should I be doing a percentage, or should I be calculating by the hour? I feel if I do by the hour, no one is going to pay that much for cupcakes or any other sweet treats.
Never do the percentage! The numbers are the numbers. You can't shortchange yourself or else you're gonna be running a nonprofit organization. Regardless, if you're just starting out if you don't price properly, you're gonna stuck in this hole of incorrect pricing and you're just gonna end up frustrated and burnt out cause you're working a shit ton for little to no profit.
Yes! Completely online! We were doing in person workshops but COVID put a halt to that. Definitely join our facebook group Cake Cents and you can learn more about our masterclass on our website! www.janellecopeland.com
GOOD GOD BLESS MORNING PRAYING ALL IS WELL I JUST CAME ACROSS THIS ARTICLE I LOVE TO BAKE CAKES HOMEMADE CANDY AND CUPCAKES AND COOKIES I NEED TO KNOW HOW MUCH TO CHARGE I ALSO MAKE CHEESECAKES U BE BLESS AND STAY SAFE NOW U GO AND ENJOY THE REST OF YOUR DAY
My first time watching and I thought the same. Then I noticed it is perhaps her channel not his? So no need for me to share what I was thinking. Y’all said it all.
If you're taking 10 hours to make a cake you're in the wrong business. Adding 100.00 to your cake! So according to you guys I should charge at least 150.00 for a 6 inch cake!!!
Definetly get into our FREE fb group, Cake Cents! Its full of bakers from all over the world at different skill levels! It's a great place for support and guidance.
Good Video. Please Let The Male Talk. He has Good OPTIONS Too. Female keeps stoppping and Talking over Top?? Its called Team Work. Contingency Maybe each should on 6 Topics Maybe female of she wants to Start . Give Let Him Talk his got really good points too. Discuss each Topic. Let Other Talk. Non.profit organisation topic? She keeps talks over Topic of his Important his Trying to Explain Let Him Finish! We are in Australia we have group listening. Share your Ideas. Otherwise each go on seperate Page. He Talk Direct and To The Point Female talks too much. 'Respect'
This video is very informational. It’s sad to see that you are not working as a team. There is a lot of I”coming from the female. Its rude to continuously interrupt a speaker. Thanks for sharing. Go Team,
I’m not understanding. How are you not making money (making a profit) if you make $300 on a cake that cost $100? If you put some of that money into an account that doesn’t get touched then how’s that not a profit? Are you saying to charge $400 for that same cake? I’m horrible at math/business so I’m really wanting to understand how, if you upcharge $200 on a $100 cake, how that’s not a profit (if you’re stashing 20% of that away in savings)?
I'm in a similar position. I'm trying to figure out how to translate this down as someone who makes cookies. Its all well and good to talk about adding costs, but there's only so much a person is willing to pay for a chocolate chip cookie. So are cookies therefore not worth doing/doing alone because it isn't profitable? My market is towards people who wouldn't mind splurging a bit once a week for some goodies, but aren't willing/able to spend 25 dollars for a dozen cookies. Especially not when you can get a fairly decent cookie for 12-15 a dozen (which is the range I charge). I guess I'm just confused. A lot of these things I considered already, some of them I did not, but I don't know how to make that work for someone in my position.
You have the( for ex. 200.00 labor for cake that is over the cost of ingredients and utilities etc.) That 200.00 is your salary for the work you did..you have to pay yourself. So if you don't add in a profit on top of the final complete cost of EVERYTHING then you are not making money..you are taking money away from your salary to buy more supplies or fix an oven. If you worked for a doctor and got paid 15.00 an hour but he expects you to give back 7.50 to help pay for a busted pipe repair he has to pay for then you aren't making 15.00 an hour(your salary) your making 7.50 at the end of the day. Dont rob your salary...build in extra money(profit) so you can pay for the unexpected.
Great content both of you but lady is dismissive of the gentleman's intelligent contribution and humour that we wanted to hear and see. Please redo this video and take a back seat for a little bit.
Very valid business points to help bakers or any retail business. The presentation format only allowed the wife the speak uninterrupted while dismissing what the husband had to say
This is so random. But if you are presenting with someone else it is so important to ensure they get as much air time as you. Otherwise present on your own. And when you say you have a giveaway, you should include the person with you. “We have a giveaway”. Organize so that each person has speaking points. You cut him off so many times and were generally rude. He was a gentleman and maintained composure, but it would make this content 1000% better if you gave him his proper space in this video.
Yeah I feel really uncomfortable
I guess Im asking the wrong place but does anyone know of a trick to log back into an instagram account?
I was stupid lost the password. I would love any assistance you can offer me
@Jett Lucas instablaster :)
@Zander Dillon I really appreciate your reply. I found the site through google and im trying it out now.
Looks like it's gonna take a while so I will reply here later with my results.
@Zander Dillon It did the trick and I now got access to my account again. Im so happy!
Thanks so much, you saved my account!
This is really educative and glad I stumbled upon it. I want to listen to both of you! Hope he is allowed to speak in the next video I watch!
I know right! She keeps cutting him off and he never gets to explain in the end
@@irisa_l_2018 i thiñk she is the boss:)
She just boldly keep cutting him off 😢...she has the last words...I guess.
Im have been watching pricing videos non- stop for the last 2 days looking for a clue and this video was by far the most informative, eye opening and useful. Thank you.
YAY! This makes us so happy! It is an older video but the knowledge still applies!
Fascinating...been decorating for decades, former shop owner, retired now and fully enjoying any cake that comes my way. Now its so much more fun!! W3 did okay, but it was never very profitable.
Thank you guys 😫....you saved me from robbing myself ..... tough 💪🏾💪🏾love and honesty.....No sugar coating in business no matter how sweet the product
Interesting lecture. I will have to change my way of pricing cakes , because I have been robbing myself in that area.
Thank u both. This lecture is an eye opener.
V. Palmer
I can't thank you enough. NOw I know how to properly charge, an eye opener! Baking always been a hobby / side hustle of mine and now I'm ready to make it a proper business. So So happy and grateful that I found your video.
Happy to help! Thanks for being here!
I'm a new Home Baker, and pricing is for sure the toughest part of it. I have seen many videos on how to price a cake. Most focus on ingredients, time, talent level, and going rates for your area. I have bumped up my prices. And checked the Going Rate Pay for a Baker in my home state at what I would call my level of talent.which where I live is between$10-18 and hr. So I charge $14. My house is all electric, and my electric has gone up, by about$200 a month,but my water bill also went up about$25-$35 a month.
And honestly I thought I was doing good. Lol thanks! Now I realize how much money I am actually losing per cake. And you are right! I am taking from my house hold to cover these costs.
Something I wanted to point out.....
For New comers
The cost of your equipment. Once you have repaid that cost for your equipment back to the household, or who ever loaned it to you, whatever your case may be, be sure to save that up again, keep it to the the side, an buy a whole new set of equipment. So when something breaks you already have on hand a replacement equipment, and start saving for a new one again.
I have a Brand new Kitchen Aid stand mixer. But I mix my cakes by hand, and use that for my frosting and Fondant. I do use my immersion blender to mix up all wet ingredients, in batches, to save time. But it's like 8 yrs old now, and I will need a new one soon. But I know there is no way I can buy a new Kitchen Aid stand mixer, and no Way I can mix fondant and frosting by hand lol.
How would this formula work as a wholesaler for a restaurant?
I've been ruining myself oh so badly. So glad I found this channel when I have free time I'll be binge watching your videos... Thank you so much
Glad I found your channel.❤❤❤
I lost my job during these hard times as a result of the pandemic and am planning to spend the little savings I have on a home-based cake business but don't have any ideas on how to profit once I start. I found your pricing tips very helpful.❤
Thank you so much and God bless.❤
We're so glad this served you. Definitely get into our small business group on Facebook to get our 18 success tips!
Great great info, thanks for sharing it with us. Just one suggestion, it was a little hard to follow you at times because the wife was talking over him. Even with being passionate about what you do. When co-facilitating a topic it’s great to have some transition between each person sharing. Instead saying “ not only that” try in “addition to that” , it validates their input in a more positive way. Have a BLESSED DAY! New sub!
Thanks for the feedback! This video is 3 years old so we definitely have changed our teaching style since then!
Thank you for your insights and experience on this subject.
First time viewer and thanks to you both. I never thought about profit being above my wages. Excellent awareness! My interest at this stage in my life is to earn enough to pay my rent, not build a future. Tomorrow is my 65th birthday and too young to stop, but no desire to make a 20 year business plan. Lol So maybe a part-time income. But, a bit of profit will help me purchase better equipment. Thank you!
I’m learning so much. Thank you
Thank you very much. I am making cakes and most time I only get the cost of the cake back. Thank you again.
Make sure to check out my other pricing videos! They will help you A TON!
The most difficult area to get past are the "newbies" who make super cheap cakes for "exposure " . I absolutely realize that 1) I really shouldn't concern myself with that and potential clients who chose that over a skilled baker/decorator are not the clients we want...BUT, those clients tell friends too and it's frustrating to be undercut. They don't realize they hurt themselves as well as fellow bakers 2) They WILL BURN out quickly. So if you're a Newby and are doing super cheap cakes to break into the business..... charge what you should..... you'll help yourself and others. Also, an alliance with fellow bakers is so much better than a competition ;)
Absolutely! But it usually comes down to a SKILL they have to learn, which is CONFIDENCE in SELLING THEIR PRODUCTS. Just because you start a business, or just because you're good at making something, doesn't necessarily mean you'll be good at asking for the sale. They usually think that if they make it less, they'll avoid rejection and be able to close more sales. It's a lesson unfortunately people need to learn on their own.
🙋🏽♀️🙋🏽♀️🙋🏽♀️🙋🏽♀️
I just stumbled across this video. Wow! I'm so glad. I have a catering business and I bake Jamaican rum cake, cheesecake, , let me just say, I have problem pricing.
I was just finishing up my calculator sheet for the cost of my sweets and just when I was almost done I heard profit! lol So I immediately added that profit margin row because I did not even think about profit margin and why it is important! Thank you so much for all your tips! :)
And how do you figure profit margin?
This video is so helpful, thank you! My brand new very small bakery is called Oak Leaf Bakery. I am a business major at Purdue. Art is my passion, with a love of baking. It is just endless what you can do with art and baking which keeps from getting bored. I have worked for two very large well established bakeries, there is so much I have forgotten. Your channel is very solid to learn from and has been my favorite. Thank you for sharing.
This is a REAL eye-opener!!
thank you so much for this explanation
Thank you so much for all this helpful information! I just found and subscribed to your channel 😊 My family owned a clothing business for over 50 years! With that said, I grew up working in the store, going to clothing shows and learned about how wholesale works. We closed our store in 2016 due to the loss of my mother to cancer. My passion has always been in art, creativity and people skills. I started baking when I was 8. My mom had schooled me in proper measuring (metric), oven temp and the use of the right ingredients. Now being in my 40’s, I have been seriously thinking about starting my own business. Whether it be a brick and mortar or small home business, I feel ready to do my own small start up. I have already made a few cakes for friends and am starting to get more orders. Should I get my kitchen inspected and certified before I start with the new clients or a little later down the road? I wasn’t sure because it is only 2 orders. I haven’t decided on a company name, logo or the exact path I want to specialize in. I feel overwhelmed, but I would be grateful for a little advice!
Thank you for this information, I make cakes from home. When I buy supplies I buy them separately from my household. I keep my receipts and look to see if I made a profit.
So glad it served you!
Thank you so much for this video... It awakes me from all the wrong pricing im doing, im a displaced Filipino overseas worker...
Glad to provide some value for you! Definitely join our free facebook group Cake Cents! We offer tons of help for pricing and basics in the baking industry!
Thank you both for how to price my cake , & cupcake pricing tips , I'm from Australia
So glad this is serving you!
🤭 I love you guys thanks so much 💕! I've been learning to do a LOT I mean "A LOT 😅" but, I had No clue how to start selling OR how much to charge. I used to look at the store prices and think 🤔 oh boy🥴 I don't think anything is going to sell 🤣. But now I have a greater vision!
I’m new and I’m glad I watched. As a home baker .... taxes things you can claim ... that’s what I think of, when watching this.
Oh thank u for this! I guess I have a lot I’ve been doing wrong. I have some calculations to do.
Yes this was beneficial and it was a heart check for me. I’m just starting and luckily I came across this video, I just want to get it right so I’m not struggling and my passion becomes a burden.
Thank you for your advices. I have not started on home bake. I am afraid to jump in and want to get some solid research on how to get started as a newbie.
Thanks so much for watching! Don't be afraid to start. A lot of the greatest lessons you'll learn is through the experience!
Just do it! And you'll be happy you did! I literally started 2 months ago and wished I did sooner!
Great message on business .
We're glad it served you.
Do you have videos for when you were a home bakery and how you approached pricing, how to generate customers, etc
I don't because that was 14 years ago! But I've always approached my pricing formula the same way. Obviously my pricing has changed over the years to factor in the different variables between having a storefront vs. working out of my home but ultimately the formula is the same.
This was of great help to me. I will try it.
Hello thanks a lots Janelle❤
Wow! You guys have helped me tremendously!
Aww this makes us so happy! We'd love to have you inside our FB group- Cake Cents and in our 8-week masterclass, Passion To Profit!
Love this!!! Thank you!! 🙋
I have a Heart Shape Collection Cake Pans and I have searched Goggle looking a guide for serving size of 4 and 5 inch. The guides of Heart Shape sizes start at 6 inch. Please advise.
Hey! Are you only selling heart shaped cakes? Just wanna make sure I'm understanding correctly.
@@TheCakeMamas Not anymore, I food a BBQ Food Truck Business that was looking for someone to bake Pound Cake and I specialize in Pound Cake. I have plenty of time to research the price for my Heart Shape Collection different size cake prices.
Thank you this is so helpful 🙋🏼♀️
Thank you so much!❤
Thank you for this video. I have diffently been running a non-profit business 🙄
Thank you both for generously sharing this type of knowledge especially for beginners. I really appreciate how you guys take the time to breakdown each cost of running the business. Great job on this video! This is by far the best video I've seen in detailed about pricing and profit. I would also like if you guys do a video on the last part of the video which you mentioned about reinvestment. Will be looking forward to this!
Cheers to you both 👍
Okay I'm blown on the profit never ever heard this!
Definitely join our small business community called Cake Cents on Facebook! We share tons of tools & tips (including pricing) to get you paying yourself!
This was amazing!
Can you do a video on how much it would cost to start a 800 sf bakery?
"Baking in the costs" - good one 🙂
how do you do it per cake size.... I will do researched and i feel like my prices are fine but when i get down to this i feel like im undercharging. Im not sure how to per cake
Great video. I add in everything..
I just charge my spending times 3. That is how I profit.
Hi, guys, this was awesome, thank you. No doubt you've been asked this a hundred times already but like you said how do you get people to pay $300 ish for a cake when the supermarkets sell them at like $30? I know the difference is huge but I read that lots of people have to justify this to a potential customer and it puts me off/makes me anxious to start. I am just thinking of starting a small business from home so this is all brand new to me, so watching and learning! Thank you so much for the awesome advice - keep it coming!! 🥰
It all comes down to how you market your product, finding your ideal client, and knowing your value propositions. They can't get at the grocery store what they can get from you... remember that!
I love you guys!!!
I just found you and I am so glad thank you for the helpful video subscribed and waiting for more great work 🧁👏🏽👏🏽👏🏽👏🏽👏🏽💪🙏
Hi nice video. But you never gave any suggestions on how much to charge on profits.
Agree
Great info!! Thank you guys
So how to figure out these costs if you aren't a year in yet? I'm assuming just break it down month by month for the initial year?
Thank you soooo much. I so need to start making a profit. I'm a new business owner, but I know I;m not making a profit. I have the cakeboss software and I'm not sure how to incorporate the utilities, cleaning supplies and equipment into it. Also my equipment I had already before I started my business do I still incorporate it? I also want to make more cakes and stop working part time and work my business fulltime.
On the overall what percentage should I add a profit tag, on all of my bakery items to support wages, ingredients and miscellaneous costs, pricing of Bakery items was not mention from biscuits to cake
Depends on how much profit you wanna make
@@TheCakeMamas correct. but how much is that profit. that includes cp.wages bills etc
Oh my cake! Thankful very much for youtube. Need a lot of scribbles and reevaluate how to price my cakes. Rubbing my partner hardcore. Thank you so much. Very much appreciated the effort you put in this.
Why did you say the cost of untensils should be spread out over a year and that unit cost should be added to each cake? If my oven lasted 3 years before it broke shouldn't I spread out the price of the oven over 3 years instead of 1 year? Is there something I'm missing? Just thinking what is the right way to do this.
Actually your video is amazing I learned alot ! I ONLY have one question here please if you answer me it will be really appreciated, if I increase my prices like how you said No one is gonna buy from me ! They will all go to the cheaper sellers , what should I do about that !????
They aren't your ideal client, period. That's just an excuse you're telling yourself for why you aren't making any sales. If you verbalize the value of your products, people will BUY from you.
Remember that the people you WANT to bake for will drive to a other city to hire someone who appreciates his/her own worth, before they go down the street to buy from a baker who doesn't.
Your pricing tells clients that you have a great product, one that is superior to that of your competitors (Make sure that it is!)
Higher prices also signify that you have skills that none of the other local bakers have.
And believe it or not, there are people that will buy a hand bag for $2500 even when they they can get the exact same bag for $300. They refuse even the 'appearamce' of looking like they are low or middle income. It's all about appearances to them. Even if they really are broke.
Improve your skills and charge like you're only looking for the elite client; or a poor client who knows you're the best, so she's saved her funds just so she can purchase her wedding cake from the BEST BAKER AROUND!
Thanks to you this really great
That's where I struggled..... Making sure I factored in a decent profit. I always try to live on less and I use some funds (per order) to buy new materials. Because I am not a fan of loans. But yes.
I actually own a sandwich and bagel shop and am looking to "grow/expand" our baked goods. Finding information regarding ovens and piping equipment etc is such a pain, if you have a vid please lemme know (I havent spotted one) and if not, maybe a vid on that is a good idea(?)
Thank you for clarifying this. I know this is the reason I have not been able to understand business. I got it now, though.
Thank you so much for the information! I totally was robbing myself for three years. especially I want to thank you for explaning the difference between the salary and profit because only after listening to you I understood that was getting it wrong the whole time!
I live in Korea and cakes here are not so popular, most people freak out when you tell them the price that's more than 60-70$ and I don't really know how to deal with it here. I'm slowly adding up and up, but right know I don't have any profit. How to overcome that common fear that no one would order from me for the real price? Or in other words - how do you painlessly change your clientele? Because people from my circle can't afford a cake for 200$, but sure some other people will pay even more for that, it's just that I am not in their circle myself, so I really don't know how to present myself to them and how to market my product to those people.
the last ingredient Profit, what percentage of profit do you recommend
Hello. I hope this isn’t a dumb question but I did not understand how the profit is calculated.
I got my very first order :) The customer wanted 36 cupcakes, with 4 different flavors of cupcake, 4 different flavors of frosting and in 4 different colors. I did my best to price out the cost of my ingredients and I got $47 (I used bake diary). I wanted to charge $10 and hour for labor, but these cupcakes are going to took me 8 hours. So, if I do $80 plus $47, that equals out to $127. I haven't even added in all the other things like overhead. I felt like that was too high of a price because I'm brand new. So, I just did $47 multiplied by 30% for labor and overhead, the I added another 20% for profit. The total came out to $73, so I rounded up to $80. Should I be doing a percentage, or should I be calculating by the hour? I feel if I do by the hour, no one is going to pay that much for cupcakes or any other sweet treats.
Never do the percentage! The numbers are the numbers. You can't shortchange yourself or else you're gonna be running a nonprofit organization. Regardless, if you're just starting out if you don't price properly, you're gonna stuck in this hole of incorrect pricing and you're just gonna end up frustrated and burnt out cause you're working a shit ton for little to no profit.
how do you factor in profit?
is passion for profit an online class? also i love your videos im new to you channel
nellie reyes Yes there is an online course for this
Yes! Completely online! We were doing in person workshops but COVID put a halt to that. Definitely join our facebook group Cake Cents and you can learn more about our masterclass on our website! www.janellecopeland.com
How do you pricing vegan cake.
Thanks I start new
GOOD GOD BLESS MORNING PRAYING ALL IS WELL
I JUST CAME ACROSS THIS ARTICLE
I LOVE TO BAKE CAKES HOMEMADE CANDY AND CUPCAKES AND COOKIES
I NEED TO KNOW HOW MUCH TO CHARGE I ALSO MAKE CHEESECAKES
U BE BLESS AND STAY SAFE NOW U GO AND ENJOY THE REST OF YOUR DAY
Annoying let the dude talk. I cringed everytime she cut him off . Good video minus that
I noticed the same thing. He had very helpful things to say and she shut him off too often. Shame👎🏽
My first time watching and I thought the same. Then I noticed it is perhaps her channel not his? So no need for me to share what I was thinking. Y’all said it all.
If you're taking 10 hours to make a cake you're in the wrong business. Adding 100.00 to your cake! So according to you guys I should charge at least 150.00 for a 6 inch cake!!!
I didn’t quite understand it either.
I just watched a baker in Phylli - her start rate is $200. This is for a simple cake.
Got it!
I just started making cakes and I don't know anything about pricing
rhe link doesnt work
which link are you referring to? We recently changed our website so now its www.janellecopeland.com
Retired want to start baking help, please
Definetly get into our FREE fb group, Cake Cents! Its full of bakers from all over the world at different skill levels! It's a great place for support and guidance.
Good Video.
Please Let The Male Talk.
He has Good OPTIONS Too.
Female keeps stoppping and Talking over Top??
Its called Team Work.
Contingency
Maybe each should on 6 Topics
Maybe female of she wants to Start .
Give Let Him Talk his got really good points too.
Discuss each Topic.
Let Other Talk.
Non.profit organisation topic?
She keeps talks over Topic of his Important his Trying to Explain
Let Him Finish!
We are in Australia we have group listening. Share your Ideas.
Otherwise each go on seperate Page.
He Talk Direct and To The Point
Female talks too much.
'Respect'
I just found your channel.
Awesome! Glad you're here!
Remember....be known as the awesome cake decorator not the cheap decorator
TRUTH!
Making pound cake, red velvet, key lime, and carrot cake.
This math ia fun bc you are counting money...and if you do it well, it will translate to your own money😊
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This video is very informational. It’s sad to see that you are not working as a team. There is a lot of I”coming from the female. Its rude to continuously interrupt a speaker. Thanks for sharing. Go Team,
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Good vanilla
I’m not understanding. How are you not making money (making a profit) if you make $300 on a cake that cost $100? If you put some of that money into an account that doesn’t get touched then how’s that not a profit? Are you saying to charge $400 for that same cake?
I’m horrible at math/business so I’m really wanting to understand how, if you upcharge $200 on a $100 cake, how that’s not a profit (if you’re stashing 20% of that away in savings)?
That’s EXACTLY what I’m stuck on. Did you ever figure it out ?
I'm in a similar position. I'm trying to figure out how to translate this down as someone who makes cookies. Its all well and good to talk about adding costs, but there's only so much a person is willing to pay for a chocolate chip cookie. So are cookies therefore not worth doing/doing alone because it isn't profitable? My market is towards people who wouldn't mind splurging a bit once a week for some goodies, but aren't willing/able to spend 25 dollars for a dozen cookies. Especially not when you can get a fairly decent cookie for 12-15 a dozen (which is the range I charge). I guess I'm just confused. A lot of these things I considered already, some of them I did not, but I don't know how to make that work for someone in my position.
Taxes.
Edit: And cost of operation.
You have the( for ex. 200.00 labor for cake that is over the cost of ingredients and utilities etc.) That 200.00 is your salary for the work you did..you have to pay yourself. So if you don't add in a profit on top of the final complete cost of EVERYTHING then you are not making money..you are taking money away from your salary to buy more supplies or fix an oven.
If you worked for a doctor and got paid 15.00 an hour but he expects you to give back 7.50 to help pay for a busted pipe repair he has to pay for then you aren't making 15.00 an hour(your salary) your making 7.50 at the end of the day. Dont rob your salary...build in extra money(profit) so you can pay for the unexpected.
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Great content both of you but lady is dismissive of the gentleman's intelligent contribution and humour that we wanted to hear and see. Please redo this video and take a back seat for a little bit.
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You both seem very nice but you kind of discount what your husband says.
Yeah.. she seems bossy lol.
Very valid business points to help bakers or any retail business. The presentation format only allowed the wife the speak uninterrupted while dismissing what the husband had to say
@@Speakupok I think she seems bitchy.
That was the first thought I had in the first 5 mins. But VERY VALID information
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How big are these cakes?? That sounds like wedding cake prices.
I watched the video on Rice Krispies. One treat $3? People really pay that?
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