Have you ever asked yourself this question. Why am i not making money in this my cake business.
Okay you have finally taken the push and have started your cake business, maybe part or full time. You are passionate about baking.
You have done business card, printed fliers and have gone for training to improve your skills, but still you are hardly getting any orders.
And when you finally get an order, the customer prices your cakes so low that you are telling yourself what is the point.
If this is you, please continue reading.
The hustle is real but here are some mistakes you probably are making that is preventing you from making money
You are selling cakes that people do not want to buy
Maybe you want to do something different, like maybe do different flavours of cake. Maybe you offer unusual flavours like beetroot, peanut butter, avocado, wheat germ, etc. Yes if you were abroad, you could get customers but here, there are few adventurous types in Nigeria.
So it’s best you stick to the common flavours like vanilla, chocolate, strawberry, lemon, chocolate and red velvet. Maybe when you become more popular you can expand your product range after you have done enough research and offer those unusual cake flavours.
Not realizing you are in business
You are still seeing yourself as a hobby baker, even though people are paying you money for your cakes. Once money is exchanged, this is a business transaction even if you are selling to your sister or a close friend.
As a business owner, things become different. You are now a professional baker and you should see and portray yourself as such.
Not keeping track of expenses
You have to keep track of what you are spending. You have to form this habit or keeping bookkeeping books and keeping receipts and not using your personal money to pay for cake stuff. A helpful guide is a webinar I did- Booking Systems for Cake Businesses. Click here and here to watch.
Waiting for customers to just miraculously appear
Customers are not going to magically appear. They just don’t fall from the sky. Yes it will be lovely if that happens. You have to go out there are find them. And that means you have to market your business to the hilt. If not you will just be staring at the sky.
I have a Marketing Course that can help. Here are the details.
You Discount and negotiate too much
Once a potential customer starts complaining about your price or question your pricing or do not immediately order, you start offering discounts.
I know especially when you first start and really want to make a sale you give discount, offer extras, and promise all sorts of things just to get that order.
The problem with this, is that I might set of a trend and sooner or later you will be known as the cheap baker and you will be working for next to nothing.
You are not confident
You are unsure of yourself or your skills. You still view yourself as a beginner or a learner. When you are describing your business or describing a cake you want to do for a customer, you do not talk in a confident tone.
You do not own the conversation. You don’t give ideas and just accept whatever the customer wants. When you do this, people can tell that you are a learner, even though you may be the best baker in town.
You are scared of charging high prices, you don’t sound confident about your skills, you can’t really articulate why someone should pick you to make their cakes over another brand, and you can’t say no to the customers who price you cheaply.
You are a Jack of all trades
You are one of those people that have multiple businesses. You not only sell cakes, but also clothes, shoes, toys. You also are a network marketer.
You need to concentrate on one thing or at least a similar line of business. People will just get confused not knowing what exactly you do. In your profile you advertise all sort of stuffs. If you are serious about your cake business and want to make a success of it, then you should let go of the others and concentrate on cake.
I’m going to stop at these reasons ( so I do not overwhelm you), but believe me there’s still so much more.
There are a lot of reasons you might not be making money, and my question is always this:
“What are you going to do about it?”
“Are you going to allow this your business that you are so passionate about go to waste? Because if you keep going from month to month without making money…it’s only a matter of time”
Let’s solve this problem together.
Let me help you make money in your business.
Take a look at our Online Courses and choose one that is right for you.
If you are not sure what course to choose, just contact me at firstname.lastname@example.org and tell me your challenges and I will recommend the right course for you.
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.
Baking Business School is available on a number of social media platforms where you will find educative content, videos, audios and other resources to help you in your cake business.
So please check them out and don’t forget to follow, subscribe and engage with us on all the baking Business School accounts.