Pricing
Here's an idea and I'm just throwing it out there.
Since the pricing question comes up over and over and over again and the answer really does depend on where you live, what does everyone think about creating a pricing discussion in the groups?
For instance, in the California group, people from different areas can post how they do pricing.
I think this might take some of the guesswork out of it for people. Long Island is very expensive, so I can't answer for someone living in a small rural community in Alabama. The same holds true whenever people suggest what to charge and they live in a completely different type of area than the person answering the question.
Since the pricing question comes up over and over and over again and the answer really does depend on where you live, what does everyone think about creating a pricing discussion in the groups?
For instance, in the California group, people from different areas can post how they do pricing.
I think this might take some of the guesswork out of it for people. Long Island is very expensive, so I can't answer for someone living in a small rural community in Alabama. The same holds true whenever people suggest what to charge and they live in a completely different type of area than the person answering the question.
Replies to This Discussion
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Permalink Reply by jeri c on
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One more idea Theresa... could you just add a discussion topic instead of it being a group???
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Permalink Reply by Bettina Dwyer on
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When I was doing stained glass we charged the cost of your materials X 3. So if it cost you $180 for materials then the cost to the client was $540. You can never get paid adequately for your time.
I actually have an excel pricing table that a friend gave me. She didn't write it, but I have found it really handy for that reality check on my prices. It's in Canadian dollars but the prices work out about the same in Australian dollars.
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Permalink Reply by Virginia M on
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My best friend and I went to DC and VA last October and we did a day trip up to Baltimore. We went online to see about getting a cake made at the Charm City Cakes (Ace of Cakes) and they will not do a cake under 1,000 bucks according to their site.
Ruth Dunlop said:great idea girls!I live near Sarnia,(southern ontario)There are only a few around that do cakes,but I havent seen anyone that does 3D cakes,thats my niche.I usually dont do cakes under $100,unless a close friend or repeat customer.My wedding cakes start at $300,fake or more for real.It's a small community so it's tough charging what the cakes are worth,I usually tell them to check out Cake Boss or Ace of Cakes,they start at $500 for small,if not more.Unique is worth the extra money,after all your doig it for a SPECIAL occasion,the cake should be special too!As for supplies we're close to the border so I shop at Hobby lobby alot,other then that London(1 hour) or Toronto(3-4 hours)are the only places to get good stuff.
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Regarding pricing of your baked goods or any other dish you sell, you need to remember that the food cost should always be just at 30% of the final price. I know this may not be the standard, but if you want to earn or make a reasonable profit from your food business, a 30% food cost is a good way to start. Compute all the food cost, 70% should be your profit, which also goes to offset the cost of the electricity, utilities and labor, packaging and fare. If my cake and decorations cost $300.00, i would sell it for $1000.00. At least this is how i did it in my bakery.
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