The Art of Pricing Baked Goods for Profit
Stop Losing Money In Your Baking Business!
Today is the day when you find out if you have been UNDERCHARGING in your baking business.
It’s one of the biggest issues in the bakery industry, and it’s primarily because we encounter so many struggles when creative people try and price their handmade items.
Watch his video below to find out which of these struggles you are currently experiencing, and make a change for the better, today!!
Overview: The MOst Common Issues When Pricing Your Baked Goods
Emotional Pricing - Using guesses, feelings and priorities. Not REAL numbers.
Asking Other Bakers - Your data and numbers with NEVER be the same as another baker. With that being said, there is literally no reason to be asking another person what they charge for their items, other than market research. DO NOT base your prices on other people’s prices.
Estimating - One of the easiest ways to be a lazy business owner. You are definitely losing money due to the hidden costs of doing business.
Materials Times 3 - Easy to digest “formula” that isn’t a real solution to pricing. This is still considered estimating, and you will be losing money with this formula.
“Not Good Enough” Syndrome - I am going to put this in all caps —> YOU ARE WORTH IT!!! DON’T EVER SECOND GUESS THIS. <—. If you are working for another person, you deserve to be paid for your time, period.
No Formula - This is any pricing situation where you are throwing numbers together but not incorporating a formula that takes EVERYTHING in to account.
Want a longer training with some extra info? Click on the video below!
You may be thinking, YES I hear you on this, but WHAT should be in my bakery pricing formula?!
Good question! Here is a simplified list to get you thinking about all the hidden costs of running a business.
My signature pricing formula, including the below items, is what I like to call “Protective Pricing” for your baking business.
Important Formula Items:
Materials (even the soap you use to clean dishes!!)
Overhead (yes, you have overhead costs even at home)
Depreciation (making sure you can buy new tools when yours break)
Labor/Wage (SHOW ME THE MONEY - thanks, Tom Cruise)
Business Growth Profit Percentage (because your business should grow itself)
Click here for further information about Protective Pricing.
Bakery pricing is more complicated than it seems!
You may be overwhelmed with the idea of making a formula and all the steps involved.
I get it.
If you would like me to hold your hand through the process and keep you on track, I am offering a course that has allowed hundreds of bakers to uplevel their pricing and grow their businesses.
Enjoy lifetime access and high video and audio quality, plus tons of printable resources and charts, to get you to the next level.