baker’s secrets

How To Price Your Cakes Better

When I first started my cake business some years back, I had no business knowledge. I had no business plan, did not know what to charge for my cakes and was just going through the flow.

All I had was a passion for baking and a dream. I knew I wanted to sell cakes so I could give my children a good life.

So I started my business and it showed me pepper. Lol.

Not only did I have to learn a lot of things for myself, I was the baker, answering emails and inquiries, marketing manager, administrative manager, delivery person, shopper. I would work from early morning to late at night.

One of the reason I stated the business was that I wanted to spend more time with my children, but I was still working long hours and hardly seeing them even though we were in the same house.

I was working myself to the bone and I was still not making money. By the time I bought ingredients, groceries, petrol, paid my nanny’s salary, school provisions, my money was gone.

I was like what was the use. I might as well as stayed being a lawyer and collected my salary at the end of the month instead of killing myself with flour and butter.
So why wasn’t I making money?

Reason– I was charging too small. I was so scared of pricing my cake at a high price. You could say I was the cheapcakelady. Customers used to bully me about quoting a lower price and I will succumb.

I was so not confident in pricing my cakes that I would ask the customers if the price was ok.

I remember doing a lovely buttercream big 12 inch lemon cake ( I even used real lemons, -foreign ones, you can imagine how much they cost) with lots of intricate roses on it that took me like 2 days just to do all the roses and you know what they paid- N7,000.

I am so embarrassed about it now. I used my own money to fund their cake.
But really I was my fault. I accepted that price from them.

I didn’t think I was good enough so that was why I charged very low for my cakes. I was not bold enough to voice my worth to my customers so they dictated my worth for me.

This should not be so.

I felt like quitting a lot of times. But I had no choice but to keep at it. I mean I had nowhere to go. What will I do for money?

A famous quote by Eleanor Roosevelt says that ‘No one can make you feel inferior without your consent’.

I was allowing others to direct things for me, because I was so afraid of losing the order.

Eventually I had to overcome this and be more confident in my pricing. I put up certain structures in place and made sure that a customer would not be able to price me down. I stopped being pressurized to give a price to the customer at the spot- I will get back to them.

I was able to quote and price confidently and with a purpose to secure the order.
And you know what; I hardly had a customer that didn’t place the order. Infact I think it was only 2 customers last year that did not get back to me.

So there is a way for you to quote any price to a customer and get that booking.
If you are like how I was, please don’t despair, the ‘Pricing your cakes right to build a money making cake business’ masterclass is starting this week,

I will reveal the strategies that have worked for me that will get customers to pay the price you want for their Cakes.

I will be relaunching this course soon; so to be on the waiting list just register below with your email address and you will be informed first hand when it is ready.

You will no longer be known as the cheapcakelady but the ultimate cake queen.

So now let me give you 10 strategies to help you price your cakes better:

Pricing Tip #1

Adopt a pricing strategy

There are various strategies you can adopt to price your cakes. Once you have worked out the labour and costing involved you would group certain types of cakes together and come up with an average price. For example you can have a 3 tier pricing strategy. Where you have a 3 price options for any customer depending on their budget. Where you have a low, middle and high priced option.

I will be teaching  different pricing strategies in the Pricing your cakes right to build a money making cake business Masterclass. See all what you will get in this Masterclass.

Pricing Tip #2

Determine you profit percentage

Determine how much profit you want to make. This is a vital step to add if you want to grow your business. What type of profit do you want your cakes to have? 2.5%, 5%, 10%, 40% or more? There is no right or wrong answer. Start with a number that is comfortable for you and build it from there. The important thing is to have a profit percentage

 For home cake businesses I would suggest aim for 30-50% profit margins

I will be teaching exactly how to work out your profit margins in the Pricing your cakes right to build a money making cake business Masterclass. See all what you will get in this Masterclass.

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Pricing Tip #3

Work out the cost of Ingredients, Supplies and Utilities

Record how much it costs to make each type of cake you make. How much do your ingredients and supplies cost? How much does the gas, water, electricity do you use when making each cake? Do not guess. Everything counts. Work out the exact costs for each type of cake you make.

Learn more in the Pricing your cakes right to build a money making cake business Masterclass. See all what you will get in this Masterclass.

Pricing Tip #4

Research your competitors.

Research your competitors and see how much they charge for the type of cakes you make. Once you do, choose a price in the middle of the range.

Learn more in the Pricing your cakes right to build a money making cake business Masterclass.See all what you will get in this Masterclass.

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Pricing Tip #5

Work out the timing

In order to price your cakes effectively you need to know in detail how long each cake takes to make from start to finish. Without understanding this aspect you will be literally be saying a price for your cakes out of the air!  So make a note of everything. Do not guess! Record everything. From how long it takes you to mix, bake and decorating the cake, to washing up, invoicing for the order, answering enquires, shopping for the ingredients and more. Everything you do to make your cake, make sure you record the time it takes.

Learn more in the Pricing your cakes right to build a money making cake business Masterclass. See all what you will get in this Masterclass.

Pricing Tip #6

When should you raise your prices?

The time to raise your prices is when: #1 – you are not making any money or your costs are not being covered.

Learn when and how to raise your prices in the Pricing your cakes right to build a money making cake business Masterclass. See all what you will get in this Masterclass.

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Pricing Tip #7

Decide how much you want to pay yourself

Next decide how much you want your rate is per hour then work out it out.  Do you want to work for N500 an hour or do you want to work for N2,000 per hour. There is no right or wrong answer. Each business, wants and needs are individual to the business owner.

Learn more in the Pricing your cakes right to build a money making cake business Masterclass. See all what you will get in this Masterclass.

Pricing Tip #8

Figure out how much you want to earn

Write down how much you want to earn from your cake business each month or in a year. Then start incorporating that figure into your cake prices. 

For instance if you want to earn N50,000 this month, you just have to sell 5 Nos. N10,000 cakes. 

Learn more in the Pricing your cakes right to build a money making cake business Masterclass. See all what you will get in this Masterclass.

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Pricing Tip #9

Survey potential customers

What is the general budget for your potential customers to pay for your cakes? You need to have an idea what your ideal customer will happily pay to buy a cake. If you find out that most of the people want cheaper cakes, don’t just drop your prices yet, maybe you should widen your search and look for those customers that can pay the price you want for your cakes.

Learn more in the Pricing your cakes right to build a money making cake business Masterclass.See all what you will get in this Masterclass.

Pricing Tip #10

Decide the pricing bracket you want to belong

Decide which pricing bracket you want your cake business to belong to. Want to be in the low or high end priced group. For the low end group, your customers will be family and friends, wholesale, food stalls.

For the high end price group, these will be big birthday celebrations and weddings.

Learn more in the Pricing your cakes right to build a money making cake business Masterclass.See all what you will get in this Masterclass.

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Pricing Tip #11

Follow up

If a customer doesn’t call back, don’t just think they are not interested. People forget. So you should take the initiative and contact the customer back and ask if they want to go ahead with the order. Don’t feel bad if they say no. When you continue following up eventually you will get a yes from a customer.

Learn more in the Pricing your cakes right to build a money making cake business Masterclass.See all what you will get in this Masterclass.

Pricing Tip #12

Calculate Method

Do this for each type of cake you create.

    • Take the timings it takes to make this cake from start to finish (include everything!) then multiply this with your hourly rate.
    • Calculate the cost of the ingredients, supplies and utilities. Add this number to the number above.
    • Then work out your profit percentage.
    • Add the profit percentage to your ingredients, supplies, utilities and labour total.
    • You now have the price for this cake.

Learn more in the Pricing your cakes right to build a money making cake business Masterclass. See all what you will get in this Masterclass.

 


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This month register for the Pricing The Cakes Right To Build A Money Making Cake Business.

Pricing The Cakes Right To Build A Money Making Cake Business is created for bakers so that they can achieve their cake business dreams of building a moneymaking cake business.

In this Masterclass you will learn:

  • How to gain confidence in pricing and selling;
  • How to market to the right customers;
  • How to price cakes easily without stress;
  • Customers relations: How to deal with customers so they accept your price always;
  • Systems you should put in place to grow your cake business

If you are interested in this Course (which i highly recommend you do) and want to be a part of it, just send me an email at cakelady@bakingbusinessschool.com.ng requesting for payment details.

Or you can just fill in the below form and I will get back to you with details of the Masterclass:

Classes start as soon as you make payment, so don’t delay.


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About Me:

Hello, my name is Rotimicakelady and I am a cake business coach that teaches cake business owners how to grow and have a profitable cake business so that they have a constant stream of customers buying their delicious treats.

I have been running my own successful home based cake business for some years now. I have also been teaching bakers through my online courses who are struggling with low sales, with strategies on how to market, and price their cakes for profit.

In addition I am also run a Facebook Group where I coach, offer support and help bakers in their businesses.

I have helped over 50 bakers through my online course A comprehensive guide to starting your cake business in 30 days’ with much needed information on how to start a cake business in Nigeria. I also teach close to 4000 cake enthusiasts through my Facebook Group how to run a money making cake business.

I have been featured in ‘Naija Top Baker’ magazine, one of Nigeria’s foremost cake magazines and also been a Guest Speaker at the Bakery World Convention.

If you are struggling with getting customers for their cakes, I can help you solve this problem by showing you how to market, sell, price, plan, structure and brand your business so you are constantly selling to the right people who want your cakes.

 

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The No. 1 Way to Get More Orders For Your Cake Business

Just the other day I got a tearful phone call from a baker lamenting that she has not had an order for months and is thinking of giving up. She said she only got one order after many months, but after this order she has nothing. She was frustrated and fed up.

She said she has tried everything but nothing seems to work.

I could sense the sorrow In her voice and I knew how she was feeling. We spent the next half hour coming up with a strategy on how she could market herself more. From our conversation, we found out that was neglecting a prime and sizable customer base.

So I came up with a strategy for her to tap to this market that she never knew she had. After the conversation, she had a plan in place and is so much hopeful for the future.

I know having a cake business can be challenging. To get more cake orders you may have tried Facebook or Instagram, Selling to family and friends, and all the other ways you can increase your cake sales. 

But let me tell you something, being on social sites is good for your business but will not translate to sales if you have not yet built a brand .If people do not know, like and tryst you, you can spend all your marketing budget on Facebook and Instagram ads but you will see you will hardly get orders

Those things are good to add authenticity and set you up as a legitimate business but may not add to customers.

So do you want to know the No. 1 BEST strategy to increase your cake orders?

Not only does this strategy works but it’s totally free.

So what is this wonderful strategy, you may ask?

Well it’s NETWORKING. 

You can’t expect to just sit at home and expect orders to come. You cannot grow your business like that.

The Importance of Networking

Selling your cakes is the only way you are going to make money.

Networking is a great strategy to increase your orders and grow your business. People knowing about your business happen through people. The more people who know who you are, the more orders you will get.

Yes, I admit, networking is scary. But you have to try and overcome this fear about telling people about your cakes.

Let me tell you why and how Networking will Increase your Cake Orders.

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  1. THE WORD OF MOUTH STRATEGY

Think about this, before we buy something from a business, most probably a friend or someone would have told you about that business. Like if you like going out to eat, before you try a new restaurant, someone would have recommended that place.

That is just how we humans are. We need proof, we need recommendations. That is why most companies have testimonials, reviews, and reports of what other people have said about them.

When you have a number of people telling others about your cake business, for you, for free – sharing to their customers how awesome you are, you are guaranteed more orders surely.

So why don’t you start getting feedback from your customers. After a sale, ask them how they liked the cakes and screen shot their response on your social media sites.

Encourage your customers to recommend your business by giving them outstanding customer service in addition to your tasty cakes. You can even go further by telling them that if they recommend you to someone and that person makes an order they will get a free box of cupcakes or a discount on their next order.

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  1. EXPAND YOUR NETWORK 

When you are building your network of people or contacts, don’t just talk to people in your locality or your circle, expand your network to event planners like party and wedding planners.

Talk to them to include your business in their books. Tell them that you will give them a percentage for any booking you get through them. 

This way, they will be talking about and recommending you. Again the more people who talk about you, the more people know about you, the more orders you will get.

  1. YOUR CAKE BUSINESS BECOMES A TRUSTED brand 

When your cake business has a great reputation, people will see that and will talk moreabout your business

The more people who trust you, the more people will like and recommend you, so in essence, you will get more orders.

So building your reputation is a must which comes from expanding your network.

As you continually to do this, you will reap the benefits in the long run. 

However, don’t expect this to work overnight. Building your cake business is a long and steady process. 

So this is a guaranteed way to get more orders. Talk to people, planners, and business contacts, give out your business cards, and make yourself known through social media. And you will soon be reaping the benefits of having a money making cake business. 

Now tell me, how do you network in your cake business? Will love to hear from you. Just Comment below and let me know what strategies work for you! 

Enroll in my training The Wealthy Baker System. An Online Course that teaches you how to be a master in the art of selling, pricing, marketing, branding and structuring your cake business.

I will show you how you can increase your cake orders and charge the prices you want. 

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REGISTER FOR THE WEALTHY BAKER SYSTEM ONLINE COURSE

The Wealthy Baker System is an 8 week program that will teach you how to sell, market brand, structure, plan and price your cake business even if you don’t know where to start from or you have been in business for a while and, and you are worried that you do not have any business knowledge.

In this Course it will show how to create a profitable cake business month after month, how to market your business, attract better paying clients, and also have the confidence to charge the prices you want and much more.

To learn more about his course just click here

or join The Waiting List here below:


Introducing Young Bakers Academy- Nigeria’s Premium Baking School for Children

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Baking Business School is proud to present The Young Bakers Academy, Nigeria’s premium Baking School for children.

Young Bakers Academy is a unique and premier children’s baking school. 

Our mission is to teach children the joy and value of baking. We provide an interactive learning experience that gives your children the opportunity to develop skills in the art of baking, cake decorating, sugar craft and pastries.

We are offering Baking classes in Christmas and Cookie decorating in locations around Lagos.

To book a slot just call/ whatsapp the cakelady at 0803 319 3375 or email at cakelady@bakingbusinessschool.com.ng

For more information about The Young Bakers Academy and to see our Calendar of events for December 2017, please head to our website at https://bakingbusinessschool.com.ng/baking-classes-for-kids/

See more details in the flyers below:

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Start an Online Course           See our Free Resource Library          Read our Blog

                Register for a Mini Course                 Start your Cake Business Today

 


 

me16

About Me:

Hello, my name is Rotimicakelady and I am a cake business coach that teaches cake business owners how to grow and have a profitable cake business so that they have a constant stream of customers buying their delicious treats.

I have been running my own successful home based cake business for some years now. I have also been teaching bakers through my online courses who are struggling with low sales, with strategies on how to market, and price their cakes for profit.

In addition I am also run a Facebook Group where I coach, offer support and help bakers in their businesses.

I have helped over 50 bakers through my online course A comprehensive guide to starting your cake business in 30 days’ with much needed information on how to start a cake business in Nigeria. I also teach close to 4000 cake enthusiasts through my Facebook Group how to run a money making cake business.

I have been featured in ‘Naija Top Baker’ magazine, one of Nigeria’s foremost cake magazines and also been a Guest Speaker at the Bakery World Convention.

If you are struggling with getting customers for their cakes, I can help you solve this problem by showing you how to market, sell, price, plan, structure and brand your business so you are constantly selling to the right people who want your cakes

How To Get People To Buy Your Cakes

In order for your cake business to thrive, you need to find the right customers for your business.

Selling to the appropriate customers may be obvious, but many cake business owners struggle to find the right way to convert potentials or people who enquire about your cakes to customers.

Identifying customer buying habits is an essential part of marketing and growing your business. So, how do you figure out why customers buy your cakes?

This blogpost aims to explain customer buying habits to help you figure out why people buy cakes and how you can get them to buy your delicious treats.

 

 

By examining the buying habits of your customers, you’ll be better able to build a marketing plan that taps into the buying habits of your target customer which would eventually drive more sales.

So how do you do this?

You have to know how to make them buy from you

 

The psychology in this are called marketing triggers and i will tell you the emotional marketing triggers that determine why people buy cakes.

Emotional Marketing Triggers that Determine Why We Buy Cakes

When you understand the marketing triggers that make people buy then you can sell more. And you can find more eager customers.

Our emotions trigger us to buy

Don’t make the mistake thinking that people buy what they need. People buy what they want.  We are driven by their emotions.

If you understand the emotional reasons why your customers buy cakes then you can begin to trigger these emotions when you are talking to your customers or when you are marketing your cakes.

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1. Love 

What do your customers love? It might include their family, children, business, career, culture, hobbies, books, personal time etc. Do they buy from you for one of these loves? If so how can you recognize and encourage others with the same love? 

Love is a powerful emotion. We do strange things when in love and in the name of love. People will shower their loved ones with beautiful and expensive gifts.  So you can use love to sell your cakes, like during vals day or birthday cakes for loved ones.

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Join Other Bakers Who Get More Customers From Effectively Marketing Their Cake Businesses

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2. To show off

Yes we all should be humble, but sometimes people wanting to show off can be good for your business. Some people like to throw elaborate parties and the reason they do this is to show people their wealth, their home, etc. So you can tap into that if you do over the top , extraordinary and elaborate cakes that no one else does. So your cakes can cater to these sort of people.

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3. Guilt
 

Often it might be hard to know the real reason someone buys something for someone or gives a gift. Was it love or guilt? “Is guilt the real reason behind spending a lot of money on Christmas, Valentines and Mothers’ Day?” 

Can the guilt of not buying motivate your potential customer into buying your cakes? Can you use guilt to sell your cakes? Like saying in your marketing campaign something like ‘when was the last time you bought your precious wife or mum a gift, someone who has loved you and nurtured you,  then buy your mother a mother’s day cake or this lovely cake’.

There are also other  emotional triggers like Fear, greed and pride, but i don’t think they relate to selling cakes much

So I hope i have given you some ideas in your marketing campaigns.

Marketing is only effective if it reaches the right people.

Identifying the things that influence buying decisions enables you to leverage these factors to reach more customers.  Once you understand all these, you will be more successful when you market and sell to potential customers.


 

I will love to hear from you. How do you think you can use these emotional triggers to help you in your cake business?

Please share this post to your fellow bakers. I am sure they will get tremendous benefit from this information.

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Join Other Bakers Who Get More Customers From Effectively Marketing Their Cake Businesses

Enter your name and email address below


 

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Start an Online Course           See our Free Resource Library          Read our Blog

                Register for a Mini Course                 Start your Cake Business Today


 

me16

About Me:

Hello, my name is Rotimicakelady and I am a cake business coach that teaches cake business owners how to grow and have a profitable cake business so that they have a constant stream of customers buying their delicious treats.

I have been running my own successful home based cake business for some years now. I have also been teaching bakers through my online courses who are struggling with low sales, with strategies on how to market, and price their cakes for profit.

In addition I am also run a Facebook Group where I coach, offer support and help bakers in their businesses.

I have helped over 50 bakers through my online course A comprehensive guide to starting your cake business in 30 days with much needed information on how to start a cake business in Nigeria. I also teach close to 4000 cake enthusiasts through my Facebook Group how to run a money making cake business.

I have been featured in ‘Naija Top Baker’ magazine, one of Nigeria’s foremost cake magazines and also been a Guest Speaker at the Bakery World Convention.

If you are struggling with getting customers for their cakes, I can help you solve this problem by showing you how to market, sell, price, plan, structure and brand your business so you are constantly selling to the right people who want your cakes.

How To Get More Cake Orders

Today we are talking about how to get more cake orders for your cakes. I mean this is the way how you are going to make money.

 

Simple-Tell your friends and family that you are taking cake orders

If you want more cake orders. Then you have to tell people. A good way to start is with your family and friends.

Ask them do they have a birthday or celebration coming up to get them to order from you!

Note – Because they are family, don’t let them bully you in baking for free or for a low price!  You are in business. However, you can give them something free such as some cupcakes.

 

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Share on your Facebook Business Page

If you have a Facebook business page. Share on your Page that you are taking cake orders!  Here’s a good example:

” Bose Cake and Bakes are now taking your cake orders. Do you have a birthday or party coming up? Order Now and get a 6 cupcakes free (on orders over N20,000)”.

If you feel you are not getting enough reach, why don’t you boost your Ad. For just $5, your advert will be seen by a whole lot more people. So give it a try (make sure you add a nice picture and your contact details).

 

 Facebook Groups

This is another way to advertise on Facebook. You can advertise your cakes on other groups. Look around for Facebook Groups where your ideal client hangs out and join those groups and talk about your business.

To go one step higher, you can offer an incentive for them so that they can come over to your own business Facebook page to place an order.

Note – some Facebook Groups do not allow advertisements, so check out the groups rules and regulations so that you do not get kicked out of the group.

 

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 Share with your Email Contacts

Create a pretty newsletter and send it to everyone on your email list.
And you can say something like this:

” Hello, I have a free gift for you. Order your cakes at Bose Cakes and Bakes and get a free box of cupcakes (on orders over N20,000)”.

 

Sell Your Cakes in Churches /Schools /Food Fairs

You do not have to wait at home for an order. You can go out and sell your cakes. Your church is a good starting point. Also schools during their PTA or sports day is really good. Here you will be able to personally tell people about your cake business, they can sample the cakes you have to offer and they can also buy or order from the spot from you.

So do not be shy, approach churches and schools around your area and ask if you can sell your products at their premises. 

Note – make sure you have business cards to give out.  

 

So those are some ideas you can try out this week, to boost your sales. I will love to hear about your experience. So comment below to tell me how it goes or if you want to ask me any cake business question.


cake business pic 

                                   

Start an Online Course           See our Free Resource Library          Read our Blog

                Register for a Mini Course                 Start your Cake Business Today

         


 

me16Rotimicakelady is your personal cake fairy. She is a cake business consultant and Coach.

She runs the Cake Business Owners Club where she helps bakers through Online courses have super profitable and successful cake businesses.

She has a passion for helping women who have a passion for baking, transition from hobby cake makers to successful and profitable cake business owners.

She also help cake business owners who have struggling in their cake business with strategies to enable them get more customers, so you make more money. Rotimicakelady is passionate about Cakes, business and making money.

 

How to make your Cake Business stand out from the crowd

We are already in June already. Imagine. Half year! 

How are you feeling about it?

Are you scared, apprehensive or joyful?

I have mixed feelings because yes i have achieved  some goals i set myself at the beginning of the year, but there are still a number of goals that i am yet to do or even get started.

Sometimes i ask myself if i am able to achieve it or if it is even possible. I set myself a money goal, but  at times i go through periods where i doubt myself and ask myself if it is possible especially when those unexpected expenses come eating into my income.

But i know God has my back and i will keep on keeping on.

So for those who are still wondering how they are going to make their income goal through their cake sales,here are a few ideas to make your cake business stand out.

 

1. Know your brand

A strong brand will help your customers remember you.  Branding is not just about your logo or the colours you use or how your website is, it also translates to how you treat your customers and how you portray your business.

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2. Give great  customer service always

They say in Nigeria, we don’t know about customers service. How may times have you been to an eatry or a supermarket and the workers don’t smile and if you ask for their help, it is like you are disturbing them.

So be an exception to the rule. No matter how you feel, give great customer service. Answer your work phone with a smile, listen to the customers. Yes, you will come across some customers that are demanding, or even rude. But, ultimately, the relationship you have with your customers is what’s going to keep them coming back for more.

So go the extra mile for your customers. They are paying you after all.

3. Have Social media skills

Your business needs to be online. Use your website and social media to your advantage. Engage with your customers on social media.

If you aren’t confident with on how you can market effectively using social media – fear not! Here is a course to help you.

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4. Try something different

Why don’t you be different from the norm. Expand your product line and do different type of cake designs. Do something that is totally different from what is out there. And when you do market it superbly on social media.

5. Enter cake competitions

This is a great exposure for your brand, and you don’t have to win. Just need to enter. When you enter cake competitions, there is always press and you can take pictures for your website. So this will show people that you are a serious cake business owner and your brand can sky rocket. It will also help you to improve your networking and presentation skills.


 

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About Me:

Rotimicakelady is your personal cake fairy. She is a cake business consultant and Coach. She runs the Cake Business Owners Club where she helps bakers through Online courses have super profitable and successful cake businesses.

She has a passion for helping women who have a passion for baking, transition from hobby cake makers to successful and profitable cake business owners. She also help cake business owners who have struggling in their cake business with strategies to enable them get more customers, so you make more money. Rotimicakelady is passionate about Cakes, business and making money.

If You Are Still Getting The Same Results, Why Don’t You Make A Change?

Inspite of my busy schedule I try to read at least 2 new books in a month. I started this when i heard that millionaires read at least 30 books in a year. Usually I like to read historical romance’s but since i have started by business journey i only read business or self-help books that will help me improve my business and teach me how to manage my money.

I promised myself that once I hit my income goal, I will treat myself to a holiday and a trashy romance novel.

As you know I have launched my Pricing your cakes right to build a profitable cake Business Course. I put my heart and soul in this course and in the launch. I got a lot of interest for it, but was disappointed in responses when it came to payment.

It is just perplexing to me that here is a solution to most bakers problems and yet they are not taking action.

Anyway, this past week I have been reading ‘Secrets of the Millionaire Mind’ by T. Harv Eker. While reading this book it brought about some home truths to me.

In this Course I have just launched I have prepared an answer to most bakers and cake business owners problems. And it just amazes me when people just pass it by. A few years ago if I had come across a course like this I would have jumped at the chance, no matter how much it costs.

We need to realize that ”if you continue to keep on what you’ve always done, you’ll keep getting what you’ve always got”- Jim Rohn

That is why I created this course, my goal is for you to learn more so that you can have a better business. When you learn something new, you have a new way of thinking, new actions, and therefore new results.

That is why it is very important that you continue to learn and grow.

An author once said ‘ the learners will inherit the earth while the learned will be beautifully equipped to live in a world that no longer exist’- Eric Hoffer

In essence this means that if you don’t create the habit of learning on a regular, you will be left behind.

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I cannot think of the numerous courses, seminars, books and training’s that I have done. I have spent thousands and thousands of Naira on them. It is not like if I have millions of naira in my account yet, or that I’m waiting till I’m a multimillionaire before I pay for these courses, But I never see it a cost, but rather as an investment. I know that even if I learn just one thing that will make my business improve, then I know it is worth it.

If you are in business and you are doing the same thing and not making money, then sorry to say you are doing something wrong and maybe it’s time you try something new.

We all know the definition of insanity which is doing the same thing over and over and expecting different results.

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In the Eker book he said ‘some people claim they can’t afford to get educated due to lack of time and money. On the other hand, rich people relate to a quote by Benjamin Franklin, which says that  ”if you think education is expensive, try ignorance’’.

And I find this very true. When I launch a course, I find it curious that it is usually the people who are struggling or are broke that say; ‘ I don’t have money or ‘ I don’t need this course or I don’t have the time. While  it is those who are actually making a headway in their business or those who are serious and determined to be a success that will find the money to pay for courses., because they know that if they can learn something that they can use to improve there business, it is all worth it in the long run.

Mr Eker also said ”if you don’t have time to do the things you want to do or need to do, you’re most probably a modern slave. And if you don’t have the money to learn how to be successful, you probably need it more than anyone’’.

If you come across an opportunity for someone to teach you how to run a profitable cake business and you are saying I don’t have money. What is going to be different in 1, 2 or 5 years down the line? I am going to tell you this for free, the answer is nothing. You’ll be saying the same thing at that time.

This is by no means a curse; you have got to know that for you to make money you have to LEARN how to make money for your business. You have to learn how to market, price, selling and brand your products right. You need to learn the skills, strategies and methods on how to have a money making cake business.

As cake business coach it is my passion, my goal to train and teach and show you how to have a profitable cake business, so you can move from whatever level you are on now to the ultimate level.

This past week I got booked to make a cake for over N100k. And it is not a wedding cake. As I said before, I have scaled down by business to concentrate on Cake business Owners Club so I tend to only get about 3-5 orders a month. This gives me time for my coaching business and courses and before I take an order it has to be worthwhile. I no more take orders for less than N30k unless it is for family or close friends.

How was I able to structure my business in this way. It was by investing my time, money and energy in learning how to do this.

Success is a learnable skill.  You can learn to succeed at anything. Your cake business can be a success.

So if you find someone or something that can teach you, you should grab such opportunity with both hands.

The more you learn, the more you earn… and you can take that to the bank’ – T. Eker

 


The Pricing your Cakes Right to Build A Money Making Cake Business Masterclass is still partially open. You can get more details and all the modules covered in the Courses here.

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me3Rotimicakelady is your personal cake fairy. She is a cake business consultant and Coach.

She runs the Cake Business Owners Club where she helps bakers through Online courses have super profitable and successful cake businesses.

She has a passion for helping women who have a passion for baking, transition from hobby cake makers to successful and profitable cake business owners.

She also help cake business owners who have struggling in their cake business with strategies to enable them get more customers, so you make more money. Rotimicakelady is passionate about Cakes, business and making money.

Getting more sales in your Cake Business

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When you’re first starting out in business it can be a little disheartening to get a lot of enquiries but not get any orders. In the sales marketing world we call this your ‘conversion rate’ – meaning the amount of people you manage to convert from prospects into paying clients.

Effective converting and selling is a skill all on its own. Some people are just born salespeople who are naturally persuasive and can sell ice to Eskimos while the rest of us (like me) really need to work at it.  

If you find ‘selling yourself’” uncomfortable, and me telling you that you’ve got to learn sales skills probably makes you feel like ‘Why nah!’. Selling or marketing is not dishonest or desperate, both of which are things nobody wants to be. But you have got to learn those skills if you want to earn the type of money you want to change your life.

Here are a few things to help your conversion rate (that is, make more sales) that don’t make you feel like you’re begging or desperate for the order.

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MAKE IT simple and EASY FOR PEOPLE TO ORDER FROM YOU

Don’t make ordering a cake from you a 10 step process that tires people before they have even begun. If you have a website and people can order online from you, make sure the entire process, from selecting the item to checking out of your shopping cart is uncomplicated and easy to use and follow.  

The “buy now” button, “shop here” and “online ordering” buttons and pages should be visible and easy to find. Don’t make it hard for people to buy from you.

The same is true if they are ordering directly from you, whether by phone or email. Make it VERY clear how they can pay their deposits, what the process is (and make it a short process.) Don’t wait for them to as how to do it, tell them!

This is an opportunity for you to start thinking of putting in place clear, simple and defined business procedures that will help you in your customer ordering process so that you will be prepared for any question your customer needs to know on how to proceed with an order.

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TAKE CONTROL OF THE COMMUNICATION

When you’ve reached the point in the email discussion where they clearly are interested and wanting to order from you, actually pick up the phone and call them. “Hi Amaka, I thought it would be faster if I just called you to confirm the details we spoke about in email and get the deposit organized.”  

The longer you keep dragging out that email conversation, the more of your time you are wasting, and the less likely you are to get the sale done and over with.  It’s also a lot harder to say no over the phone to someone – so you’re effectively closing the deal just by calling them.  

If this sounds scary to you, remember that you’ve already established their interest in you via email

(How to get their phone number: Make it a required field on your website “contact us” form so that they have to give it to you to submit their order question. If they didn’t come through your website, ask for it at the very beginning – “What’s the best number to reach you on in case I need to get in touch about your order?”).

A question you may ask is if you should chase up on quotes after they’ve sent them out. Well it depends on you, if you’ve got the time and you really want to do that order from a creative point of view, following up is not a bad idea.

If however it’s not really an order you need or are interested in (or it’s a small one that won’t make much difference to you), just leave it.

Following up is good, mainly because if your competitors won’t bother – but nor do I want you wasting hours and hours on chasing up people who aren’t the kind of client you want that is, a client that calls back.

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ACT AS IF YOU ALREADY HAVE THE ORDER

Believe me, this works unbelievably well. Positive assertive action thinking goes a long way.

So for your next order, do it like this. When someone contacts you the first time act as if  the order is already confirmed. This means the language you use in emails or over the phone has an assumption that you will be doing the order.

You’re not ASKING them to pay the deposit; you’re telling them they’re going to do it. Not in an aggressive or threatening kind of way, but in a gentle, natural way as though the deal has already been sealed and you’re just helping them get there.

So at the end of the email instead of saying, “The price is N25,000,” your email should end by saying, “To create this cake for you is N25,000. To secure the date, I ask for a 50% deposit which needs to be paid by bank transfer (include your account details) by 19h November. I’m really looking forward to making this cake for you, you’ve picked a gorgeous design – the party is going to be amazing!”

Nobody reading that would say it sounds desperate.

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For one, it’s friendly, it makes the sales process very easy for them by stating the steps and gives them the chance to take the next steps, and it openly assumes that you’re going to get the order.  

If you act as if the deal is done, and confident that you’re going to be the only person who can make this thing for them, they are going to feel that confidence and just go with it. Plus you’re saving them a ton of time and effort here – you’re making the process easy, simple and most of all you are meeting their needs right NOW, not 5 emails from now.

We live in an age where people are immensely time poor, reluctant to commit, and bombarded by sales requests all day long. If you can help them save time, help them commit to making a choice – you’re already halfway to getting the order.

You’re flat out saying that you’re going to make it happen for them. Don’t we ALL just want that certainty, that confidence, that knowledge that a job is going to get done, get done right, and not require a bunch of wasting time to make it happen?

So in summary, the key to closing the deal, get the order and make more sales is that do not make the whole process all about you, make it all about them.

Hope you found this post useful? If you did, please comment.

Till next week.

Happy Caking.

Cake Regards,

Educating Customers About Your Cake Price

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When you get lots of phone calls or enquiries about your prices, or lots of rejections based on price alone, it can seem as though that’s all people care about. 

To be fair, for most people, price plays a major role. However, I find most people are willing to get more than one quote, and willing to consider why those quotes differ. 

The thing about cakes is (especially custom ones) is that your potential customers are actually not in this business, so they don’t really have any idea of how much effort and time goes into creating our cake creations. 

TV shows like ‘Cake Boss’ or ‘The Great British Bake off’ have done a LOT to educate the general public about the amount of effort and artistry which goes into cakes, but not everyone watches those shows. 

Plus, there are a lot of perfectly reasonably decorated, mass produced baked goods out there which will do the job just as well.  If all your client wants or needs is a cake that a 5 year old will be happy to take to school to feed just 10 kids. You’re going to have a hard time justifying why they should spend N25,000 with you when a N4,000 cake from the supermarket can meet that need.

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The challenge for us as business owners is working on the people who see a cake (no matter where it’s from) as “just flour, butter and eggs,” and get them to see why our custom cakes are so much more than that.

The general public doesn’t just “get it.” They really don’t. They think Cake is just cake, but we know that’s not it.

Part of our job as cake business owners is to educate and convince our customers to buy our cakes, and that means taking the time to explain why it’s worth why it’s worth. 

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You don’t need to look any further than KFC to find a great example of this – they market their specialty by telling us about using the best chicken, seasoning and so on. Why? Because those special things are more expensive and they want to convince you to spend that little bit more. They do not assume that consumers just “get” that the fancier stuff is worth the money, they explain why it is worth it.

Cakes are no different. You’ve got to market your products and your business precisely because not everyone understands what makes your cakes special. 

Yes, there will be some people who will not care that the quality of your cakes are better? If they say “no” based on price, that’s okay…but there are plenty of people who, with a bit of education, will be willing to spend a bit more to get something a bit better.

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Instead of just getting angry that “all anyone seems to care about is price,” and “I keep losing orders even though I’ve made my prices reasonable,” – why not try educating your potential customers?

One way is by re-examine your marketing. Re-examine how you answer their enquiry about the price of your cake.

If you get an email enquiry about baking a 2 tier Mickey Mouse cake. Do you say, “A Mickey mouse cake for 30 people costs N32,000,” or do you say,

“Thanks for your email! We’d love to make you a Mickey Mouse cake for your son’s upcoming 1st birthday. Our cakes are all baked from scratch, and we’ve got an array of kid-friendly flavours to choose from – I’ve attached a list for you to pick from. We’re also happy to customise the birthday message, and if you need delivery we offer that service too. To feed 30 people, you’re looking at a cost of N32,000. Please give me a call on 080-123-4567 so we can discuss further. I look forward to helping make your celebration fantastic.”

Tell me. Does that 2nd email require a little more thinking, a little more effort and engagement? Sure it does – but the investment in service and education are worth it if it means you’ve converted them into buying from you rather than just settling for a cake from ‘ Cakes and Cream’. 

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Every company, everywhere in the world, selling anything at all is going to come up against people who seem to only care about price.  In every market (clothing, cars, food…) there will be companies who service the very low end, companies that service the very high end, and a whole lot of companies’ right in the middle of that. 

Even the companies selling things for cheap have to market themselves and their products – because they are not the only ones in town claiming to be the cheapest. The companies at the top are no different – because they too are not the only one in town that sells a premium product.

You would aim to be the cake business that educates and then converts cake enquiries to sales.

However, accept that some people just won’t be won over …but be clever enough to at least try.

Not everyone gets it, and not everyone needs to … but you would be silly not to even try because you have decided ahead of time that they can’t be taught.

Hope you found this post useful? If you did, please comment.

Till next week.

Happy Caking.

Cake Regards,

How to boost your cake sales over the coming Christmas period

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Christmas is just a few weeks away and like it or not your customers are already thinking and making plans for it.

So you have to be ahead of the game and start promoting your cakes early enough so as to secure those sales and orders before someone else does.

How can you do this? Let me show you how.

These 3 tips will definitely help you increase your sales in time for Christmas and let you have a less stressful season.

xmas4Encourage future purchases

Yes, you may think that discounting your products, or offers of big money off or vouchers for discounts may be good, but this not a great idea during this time of the year. I will tell you why.

Never discount your products too much; you are approaching one of the potentially busiest times of the year and you do not want to be working more for less money at the end of it.

Instead of discounting your cakes, look at how you can encourage future purchases from your customers; for example, you could market your cakes or cupcakes by offering           ‘N2,000 Off for every box of cupcakes purchased in November’.

This won’t give them an immediate discount so you’re still getting paid well but the discount voucher will entice them to come back and buy from you again.

However, don’t forget to add terms and conditions to the voucher to stipulate they must spend over a certain amount before they can claim this discount and that they can only use one voucher per order, otherwise you will find yourself working yourself to the bone, for little money or even free in the near future.

xmas3Solve a problem

 This is vital; your product should solve a problem. This is a sure way to entice your customers to buy from you.

You may be asking what problem does a cake solve.

 For example, when advertising your cake or cupcakes you can add a text to the photo and the text will read- ‘the perfect gift to the woman who has everything’, or ‘get on Santa’s good list by buying the gift everyone wants this year’.

Both of those lines will appeal to a male audience as they often find it difficult to shop for a woman and you highlighting what a good product you have will help them make that move to buy from you.

 For your female audience, your strategy will be different because we respond to other influences.

 Let say you want to give a gift to your children’s teacher and you are thinking of a good gift for her. If you make floral cakes or cupcakes and you display them in a pretty display case, you should highlight that your products are good because it comes packaged with a centrepiece.

Your marketing text can say. ‘Wow your guests with a table centrepiece they can tuck into for dessert’ or ‘the perfect gift to say thank you to your children’s teacher this Xmas season’.

 Simply saying, ‘teachers gifts, 6 cupcakes for N4, 000’ does nothing and is often overlooked by your potential customers.

xmas5Plan your Orders

Now this one isn’t going to be obvious to most people but at this time of the year it’s often easy to forget to give yourself some downtime.

 Planning of your time for the Christmas season will be key to maximising your time.

If you are still in full time employment or you have small children and other commitments, you will have times you cannot work on all your Christmas orders.

 Once you have the time, you should block out some time to get organised. Plan your cakes that you will be offering and then look at your timings for each order you’ll need to allow time to make them as well as to deliver them. This will help you not overbook yourself.

There’s nothing worse than being totally rushed off your feet trying to earn money for Christmas  and then falling ill when Christmas day finally comes.

So I hope you found these tips useful and will help you plan the perfect marketing campaign that will keep customers coming back for more but not at the expense of your earnings or time.

Till next week.
Happy Caking.
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RotimiCakeLady

7 ways to achieve financial security in your cake business

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As a cakepreneur it is important to plan, to reassess your strategies from time to time.

As we a coming to the end of the year, this is the time to reflect and organize your business, make any necessary changes so that you can reach and break your financial goals by Christmas.

This week we will be talking how to build a solid financial foundation for your cake business. This way you will never be broke in your cake business.

I find out that many Cakers, just like me fell into the cake industry almost by accident. It started out as a hobby and then we realized we can actually make money from this venture.

And like most people (again myself included) we entered into this business because we were tired of our job situation, needed more money, wanted to spend more time the kids at home. So we got into this wonderful world of Caking but failed to build the business acumen to ensure the success of the business.

So this week I will show you 7 ways to build a strong financial foundation for your cake business:

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  1. Have a separate current Company bank account

It is essential you have a separate current bank account for your cake business. This is to avoid mixing up your personal funds and your business finances. In addition, it will make your customers see your business as a serious brand instead of just a hobby; and it will allow you to examine your business finances more efficiently so you can monitor your cash flow.

In addition to this, get a separate business savings account from the start and always save for your business. Whatever money you have coming in from your orders, try and save a certain % to this account. In essence, whatever profit you make send this profit directly to this savings account from every order so that you will not be tempted to spend it.

Likewise, pick a set day in the month to pay yourself a salary. Don’t just dip into the business account whenever you feel like for your personal needs. It will just bring confusion and this will get worse as your business grows.

 

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  1. Have a Buffer

In most business books, it says you must always have a minimum of a 3 to 6 months business expenses buffer in your company account. This cushion should cover all the costs of running your business for that time period. So let’s say it costs N30,000 per month to run your business (this may include, utilities, website, marketing, salary, buying ingredients, equipment etc), you’ll need at least N90,000 in the bank account at any given time. You can build up this buffer by not paying yourself for the first few months of your business and trying to keep your expenses low.

If you can discipline yourself to do it this way, it’ll be great. You will enjoy your business because you won’t have to be taking every single order that comes your way in order to survive. You’ll be in control of your business and you will have some funds in those slow weeks when you don’t get as much orders. I know this method will take some sacrifice, especially when money is already tight. But know there is a light at the end of the tunnel and your cake business will have a better chance to survive.

 

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  1. Stop offering Discounts

I know we leave in a society where asking for a discount is the norm. However, when you give a discount you are sending the wrong signal to a customer about your business. This kind of situation can rapidly get out of the hand to the point that you are actually working for nothing.

 Nonetheless, because of the environment we are in and we Africans are born negotiators, what you can do is to price your cakes a little higher so when potential customers ask for a discount, you can readily give them a reduction which will not affect your profit margin. So both of you will be happy. You- still making money; Customer- feels that she got a good deal and most likely will recommend you to her friends and will come back.

Another thing to mention is if you wish to donate a cake, like for instance for church or family functions, then just donate it completely free of charge and count it as your marketing cost. Also try and donate cakes to customers where you know you can network which in turn will bring you more customers.

Also when you donate cakes, bake the cake you want to bake, not what they tell you to do, because they are not paying you anything and just because you want to market, does not mean you should run your business into the ground.

 

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  1. Keep accounting records

Schedule a day and time each week to analyze your cash flow so to know your weekly income and expense accounts. I know this may seem boring especially for those like me who dislike maths. But believe me this is essential. Doing your accounts weekly will help you know what is coming in and what is going out.

Keeping an account does not have to be complicated and you don’t have to hire an accountant. Just have columns for date, credit and debits. Also make sure you keep your receipts. This will help you know what you buy each week and also useful for tax purposes.

 

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  1. Diversify

As your cake business grows, you should look into diversifying. In the beginning you can have one great product, for instance, character cakes, because it will allow you to perfect your skills in this area and be well known for it. But as you grow, this will limit your profit growth.

By offering other products and services it means that your business will not be at risk if a new competitor comes into the scene or if cake orders do not come in quickly especially during recession times

You need to develop new sources of income to supplement the dry months and keep you relevant in the industry. For example, you could offer cake decorating classes for adults and kids, start a cake blog, write a cake decorating book, sell custom made cake toppers, etc.

These are only a few ideas to making more money without much capital investment. So try and think of new ways to develop new products that you can do with little effort so as to gain maximum profits.

 

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  1. Offer great customer service to your customers and followers

Focus your products on your customers (i.e. your subscibers). This is really important because if you can identify the customers and what type of cakes you are make the most money from, you can start to focus on those products and customers.

This is where the 80/20 rule comes into effect. The 80/20 rule states that 80% of your business comes from 20% of your customers. So all you need to do is identify your 20% and focus a little more on them by giving amazing customer service.

You can do this by sending them weekly newsletter informing them of your new product, offering them special deals if they refer you to someone else or organizing a tasting party for your loyal customers.

 

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  1.  Think of your return on investment (ROI) before you spend

Try and spend money on what will bring money quickly first before anything else.

For instance is let’s say you want to take a new cake decorating class but you also need to buy an additional mixer or a good quality camera to take better quality pictures of your cakes rather than on your mobile.

A good ROI will state you should buy the mixer or the camera first because you already have good cake decorating skills so you need to bring in more customers to use those already acquired skills to generate income before spending money for this class.

With an additional mixer you can make faster cakes so you can take more cake orders and with a good camera, you can take good quality picture which will draw more customers when you post them on your website or on social media pages.

You have to understand that the cake business is not a get rich quick scheme. But you can make a lot of money from this business. With passion, persistence, determination and developing your skills, you can always make good money from cakes to become a CAKE BOSS.

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Finally, as a final tip the most effective way for financial security for your cake business is simply to spend less money. Only spend money when it is absolutely necessary.

Happy Caking.
Talk to you next week.
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RotimiCakeLady