Cake Pricing – staying firm on a price
I was talking the other day to a cake decorator. She admitted that her biggest challenge was with cake pricing – staying firm on price. The costing of a cake and all its associated extras – and then sticking to it!
What exactly do I mean?
This lady priced her cake (sort of – and she admitted not very well). Then told her customer a vague price – hesitantly and without a firm price.
She admitted she needed help with cake pricing – staying firm on price.
But she spent hours making her beautiful creation. And just as she went to ask for the money owing, she would slice off a chunk of money. She was too embarrassed to ask for her original price stated! She admitted this to me – and told me that her husband kept telling her she was worth more and she should stop.
However, she said she found it so painful asking for her rightful cake price.
She felt it easier to drop it to a figure that she felt more comfortable with – even if she lost money.
There are lots of issues here, which I will cover over the next few blog posts.
The first one I note is that…
She did not first get approval on her price.
A firm approval of design and price will mean it is much easier and more professional to ask for what is owing.
If you were a customer, would you like (a) a fluffy price, so you are not certain what the balance is. Or would you prefer (b) to know what the price is for the item you ordered.
Answer – a firm price!
So my question to you is – what do you do about your pricing?
Are you firm with the price – and do you stick to it?
I will leave you with that thought!
If you are unsure how to start with cake pricing – have a look at our unique Cake Calculator
Sold into 53 countries worldwide. It is an extremely useful tool for any cake decorator – when charging for cakes.
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