pricing

Why You Are Not Making Money In Your 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 in your business:

 

  1. 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.

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2.  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.


how to use social media price

In this Mini Course, we are going to learn the following Lessons:

  • What is social media marketing;
  • Why you need to be on social media;
  • The different social media platforms;
  • What to post on social media;
  • what social media platforms to be on;
  • and much more

Get this Mini Course for just N,200. More details below.


3. 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.

 

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4. 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.


 

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Get this Mini Course for just N2,000. More details below.

 

 

 

 


5. 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.

 

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6. 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.


pricing mad easy price

Get this Mini Course for just N3,500. In this lesson, you will get the following lessons:

  1. 7 step guide to pricing your cakes
  2. How to respond to customers who complain about your prices
  3. When and how to raise your cake prices
  4. How To Price So You Do Not Lose Customers

7. 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.

Whew!

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  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 your money.


Here Are a SELECTION of our EXCLUSIVE MINI COURSES available for Sale

 

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You asked for it and now it is here.

One of the BIG QUESTIONS I always get is “What’s the best way to get new customers for my cake business?” 

The answer is …you need to get knowledge on how to sell sell your cakes to the right customers.

So i have done that for you.

I have complied a collection of superb mini courses from the Baking Business School secret stash.

These Mini Courses deal with different aspects of the cake business to help and guide you in making your cake business more successful and of course profitable.

If you have never taken one of our  course or you have ever wondered what a Baking Business School is like or you have not really been able at a point in time to afford a Baking business Course.

Well now you can have access to 6 awesome lessons, ALL at a very AFFORDABLE price.

I have handpicked my bestselling lessons from my various courses and put them in a mini form for your convenience.

Each lesson is less than 45 mins and in easy to follow steps, so you can start implementing immediately.

The lesson will be yours forever and you can watch it on any device.

If you are interested in any of these lessons or the whole collection just select the lessons you want and make payment to;

Bank: Diamond Bank Plc

Account Name: Three Sisters Cake and Pie Company Ltd

Account No: 0074933012

 

Once payment is made just send me an email at cakelady@bakingbusinessschool.com.ng telling me what lessons you have paid for and i shall send them to you in less than 24 hours.

 

Seriously isn’t this an awesome deal or what?

 

AND THERE’S MORE

 

If you want the whole collection, you get a great discount as you will only have to pay N10,000 (instead of N13,500)

 

GET THE WHOLE COLLECTION FOR N10,000

 

mini course price deal

Just make payment to;

Bank: Diamond Bank Plc

Account Name: Three Sisters Cake and Pie Company Ltd

Account No: 0074933012

Once payment is made just send me an email at cakelady@bakingbusinessschool.com.ng telling me what lessons you have paid for and i shall send them to you in less than 24 hours plus some bonuses.

If you need any more information, just comment below or send me an email at cakelady@bakingbusinessschool.com.ng


 

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

 


 

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.

Wondering How To Price Your Cakes? Let Me Show You How

I decided to repost this article that i posted some time back on how to price your cakes. You have to realize that once you get your pricing sorted you can now move and pay attention to other important aspects of your cake business like marketing.

Another reason why you need to price and cost properly is that you will determine the profit your business makes and you can now know where to reduce costs and when you can give discounts without you losing money

Here are the basics so you can make a start on pricing your cakes for profit.


 

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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

REGISTER FOR THE MASTERCLASS HERE


 

1: Labour costs

Step 1 is labour, often the undercharged part of the cake pricing formula. However, when you know you are being paid a decent salary then you making a cake becomes more enjoyable.

But if you aren’t getting any good wage, then it can be like a chore or a job and you will feel demotivated. You do not want to work for nothing.

To help you gain a control on the labour aspect, make a note of what you honestly want your hourly rate to be. This can be anywhere from N500 – N5,000 an hour. It all depends on you, your skill level, years of experience.

If you are just starting out, you may charge N400- N1,000 an hour, When you start getting better in your skill level, you can increase your hourly rate to maybe N1,500 or N3,000 an hour.

So now that you know your hourly rate. Next start to monitor how long each type of cake takes to create. Record everything, from the initial enquiry, shopping to the mixing, baking, cooling, cleaning, decorating, delivery, set up, etc.

So if it takes you 3 hours to do a vanilla cake and your hourly rate is N1,000 an hour, then your labour wage/salary is N3,000.

Do this for every cake you do and make a note of it, then you will have a record of what to charge for the cakes you sell.

 

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REGISTER FOR THE MASTERCLASS HERE

2: Cost of Ingredients

I know this can be quite time consuming part.  If you are making cupcakes or small individual cakes it is important to know the price of one so make sure you calculate every batch.

So when you are shopping for ingredients, take note how much the eggs, flour, butter, margarine, etc costs.


 

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REGISTER FOR THE MASTERCLASS HERE


3: Sundry Costs or Extra Costs

Similar to step 3 this is fairly simple to cost, and again. Sundry costs, are things like cakeboards, boxes, ribbons, dowels, etc 

 

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REGISTER FOR THE MASTERCLASS HERE

4: Utility Costs

I know calculating Utility costs are a little trickier to calculate as you have to look at your bills or think of an estimate or figure to cover your utility.

But how many of us have time for this, again if this is too much trouble, just come up with an estimate amount.

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REGISTER FOR THE MASTERCLASS HERE

 

5: Profit

The profit is money that you can invest back into your business. So that you can afford that shop you want, buy new cake equipment, create a website, buy flyers, generally market your business, and outsource your bookkeeping, admin, etc.

How much profit you add to your cake price is your choice. But aim for at least somewhere between 15% – 60% profit.

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REGISTER FOR THE MASTERCLASS HERE

 

6: The Total Price

The final step is calculating steps 1 – 6

(Labour + Cost of Ingredients + Sundry Costs + Utility

Costs) x Profit = Total Cake Price

 

Practical Example,

Bose of Bose Cakes and Bakes has an order for a 10 inch fondant vanilla birthday cake with small piping detail and a few fondant roses on an iced cake board and packaged in a box.

Bose starts calculating:

Labour – N1,000 x 5 hours = N5000

 Ingredients Costs = N2000

Sundry Costs = N600

Utility Costs = N450

Profit x 30%

The Formula (N5000+ N2000+ N600+ N450) x 30% = N10,465

Therefore, the total price Bose will quote to the customer is N10,465.

So this is a simple method I recommend you use to price your cakes. Once you have mastered this Formula, you can change and adapt it from time to time.

Will love to hear from you. How do you currently price your cakes? How has it worked for you s far? Comment below please.


REGISTER FOR THE MASTERCLASS HERE

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Registration for the   Pricing your Cakes Right to Build a Money Making Cake Business Masterclass is officially now OPEN.

Enrol for the ‘Pricing your Cakes Right to Build a Money Making Cake Business’ Masterclass here.

This Masterclass is an absolute must for those bakers that want to build a sustaining business, that is, you want your business to continue making money, and I mean profits year after year.

You need to know how to run a business, and I mean a profitable one.

 

You can be the best baker in the world, but this business is an overcrowded market and if you are not able to stand out. You will just be lost in the crowd and just continue to be a small business making just enough money.

 

I know you want more than that.

 

Don’t you want to be extraordinary?

 

You too can be like them and even surpass them. But you’ve got to know what to do. And I am doing this in this Masterclasss.

 

Don’t you want to have a regular inflow of profit coming in each month in your cake business?

 REGISTER FOR THE MASTERCLASS HERE


 

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 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.

 

 


 

pricing image

This quarter I will be relaunching 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 on 4th October 2018, so don’t delay.

 


 

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 Keep Your Customers Coming Back

After you have made a sale, don’t just move on to the next potential customers. A customer just parted with their money for one of your cakes. So it is a good idea to keep them as a customer for life.

You should find ways to increase sales to your existing customers. It will be a lot cheaper than looking for new ones. Those existing customers have already tasted and paid for your cakes, so the hard work is already done.

Here are a few promotional ideas so that you do not lose customers and they keep on coming back for more of your awesome cakes.

1. Do not forget your customer

You should devote some time after a sale to reconnect with your customers. You can send them an email asking them if they enjoyed the cake they ordered. This is an opportunity for you to get feedback and also get a great testimonial which you can use for your social media or website by the way

You could send them a voucher where they will get a discount for their next order, or you could simply send them monthly newsletters so that you will be on their mind often.

2. Remember Things About Your Customer

Surprise your customers by remembering important details about them when you contact them. You do not need to know real personal details about your customers, it can be simple things like remembering their name, or their birthday or their spouse birthday or anniversary.

Once you have this information, you can contact them before the event and ask them if you can do the cake for their husband, or child’s birthday. It will be a surprise for them that you remembered and will take off the hassle of you dealing with last minute orders.

 

 

 

 

Download Our Free Guide To Pricing Your Cakes and Cupcakes

freebie design 1

Just Click On The Link Here

 

3. Make it Easy for customers to Contact you

If you have a website, make sure there is an area on all the pages of how hey can reach you, whether it is your phone number, or email or if you want them to order online. Do not make it difficult or hard for customers to know how to reach you.

If it is a Facebook Page you have, make sure at the top of that page are all the details of how customers can make there order. The same goes for your Instagram Page. Also, always respond in a very timely manner all your emails, social media enquirers or comments or missed calls. If you don’t you will be losing that customer.

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4. Say Thank You

A simple thank you goes a long way. Show appreciation for your customers. You can express your gratitude by emailing your customers after a sale with a Thank you message.

You can even do more like sending them a discount voucher or tell them to recommend you business to their friends and if that friend makes an order they will receive a free box of cupcakes.

5. Communicate

Want your customers coming back?Ask them. Talk to your customers. You can send out feedback forms or surveys. This will give you a lot of information of how you can improve your business. And once you have that information, implement it.

Have more ideas on how to keep your customers coming back. Will love to hear them. Just comment below.

By the way, let me tell you a bit about this Course that i am launching in November.

It is called The Wealth Baker Formula. If you are struggling with getting customers for your cakes, I have designed an online course that will solve this problem by showing you how to market, sell, price, plan, structure, grow and brand your business so you are constantly selling to the right people who want your cakes.

 

 

So if you are interested in this awesome Course, when it comes out, just enrol below by clicking on the link:

http://www.subscribepage.com/l8s0w2

 

Also i hope you have gotten the free pricing guide (see below).

Will love to hear from you, just comment below with your cake business question and will be happy to help.


 

Download Our Free Guide To Pricing Your Cakes and Cupcakes

freebie design 1

Just Click On The Link Here

 


 

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

 


 

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


Download Our Free Guide To Pricing Your Cakes and Cupcakes

freebie design 1

Just Click On The Link Here

How To Make Your Cake Business Stand Out From The Crowd (Vol II)

I did a post on this topic some time back. You can read it here. But I still get a lot of emails from bakers asking how they are able to create a niche for themselves. So that is why i decided to revisit  and expand this post and add some more tips on how you can make your cake  business stand out from the numerous bakers out there.

 

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.

 

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.

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3. Create a Niche for yourself

Think about where you position yourself in the industry. Are you good at making novelty cakes, or wedding cakes or fat free cakes. Do you only use a special type of ingredient that makes your cakes so scrumptious? Think about something that makes you unique form others and use that feature to market your business. Think about what you want to be known for? For example, you could be known for making awesome cupcakes and call yourself the Cupcake Queen.

Download Our Free Guide To Pricing Your Cakes and Cupcakes

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Just Click On The Link Here

4. Make them an offer they cannot refuse

Make an offer to our customers that will make them come back for more. You could do a special deal on pastries, cupcakes or a special discount for birthday cakes.

 

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5. Offer something of value

It is worth offering something extra to your customers. It does not have to cost you a lot of money to do this. You can just simply give existing customers a discount off their next order,  or maybe give them free delivery or you can give a free birthday card with every birthday cake? Little things like this will  can ensure that your customers keep coming back to order from you again.

 

6. 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! Join the waiting list here to be part of a Course to teach you how to market, price, plan and sell your cakes.

 

7. Market what makes you different

Whatever makes you unique of different from the others, don’t just keep it to yourself. Shout it loud. Tell this to all you potential and existing customers. The only way you can stand out from the crowd is telling your customers so.

 

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8. 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.

 

Download Our Free Guide To Pricing Your Cakes and Cupcakes

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Just Click On The Link Here

9. 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.

If you are struggling with getting customers for their cakes, I have designed an online course that will 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.

I know selling your cakes is a major struggle for most bakers, so this November I will be launching an Online Course that will show you how to sell your cakes so that at least you can earn some money for Christmas.

If  you think you will be interested in this Course, when it comes out, just enrol below, and you will be put on the waiting list, so you will be informed before anyone else when the Course is launched.

Also by enroling, you will also get a free gift which is a free resource guide on hoe to price your cakes and cupcakes.

Just click on this link here to be on the waiting list or just register for the Free pricing Guide below.

Here is the link again:

http://www.subscribepage.com/r2l3a3

Will love to hear from you, just comment below with your cake business question and will be happy to help.


 

Download Our Free Guide To Pricing Your Cakes and Cupcakes

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Just Click On The Link Here

 


 

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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


Download Our Free Guide To Pricing Your Cakes and Cupcakes

freebie design 1

Just Click On The Link Here

How I Made N100,000 For One Cake Order

This past week I have been so busy with cake orders. I had to do a massive 3 tier cake and some birthday cakes.

The 3 tier cake was a bit of a challenge for me. I don’t really like doing tiered cakes, so that is why I do not do wedding cakes. The cake required an array of flowers and I did enjoy making them.

There is nothing like having some quirt time after the kids have gone to bed, watching TV

And making sugar roses and peonies.

I was alright till it came to stacking the cakes. I was not sure how many dowels I needed or whether the dowels I used were enough. Anyway managed to stack the cakes, but the next day, I noticed the top tier was leaning over. Complete nightmare. I managed to shock it, and then it came time to deliver the cake to the venue. It was like if I was carrying a new born baby. My heart did not stop beating till the cake was safely at on the cake stand in the event.

Well the cake held up and the celebrant loved the cake. I kept thinking why was I so worried.

But that is the life of a baker. It is our craft and we feel a personal connection for every cake we make.

Here is a pic of the cake and I was paid N100,000 for the cake. So I bought a new mixer with the proceeds. Not bad at all!

 

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So how much do you think you would have charged for this Cake.

If you said anything less than N50,000, then you need to read this Pricing formula desperately.

Here is how you should price your Cakes.

It is a simple formula;

 (Labour + Ingredients Costs + Sundry Costs + Utility Costs) x Profit = Total Cake Price

Step 1: Labour/ designer fee

Step 1 is labour, often the undercharged part of the cake pricing formula. When you know you are being paid something good then you making a cake becomes more enjoyable. But if you aren’t getting any good money,then it can be like a chore.
You do not want to work for nothing

To help you gain a control on the labour aspect, make a note of what you honestly want your hourly rate to be. Then increase it by 20%. This will be your hourly rate. Next start to monitor how long each type of cake takes to create. Record everything, from the initial enquiry, to the mixing, baking, cooling, cleaning, decorating, shopping, delivery, stacking, etc.

Step 2: Cost of Ingredients

I know this can be quite time consuming part. It is important to know the
price of each cake so make sure you calculate every batch. And remember to cost out every single recipe and recipe variation you work with.

Step 3: Sundry Costs or Extra Costs

Similar to step 3 this is fairly simple to cost, and again. Sundry costs, are things like cake boards, boxes, ribbons, dowels, etc.

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Step 4: Utility Costs

I know calculating Utility costs are a little trickier to calculate as you have to look into your utility bills or think of an estimate or figure to cover your utility.

If you get bills and want to be very accurate. Find your gas, water and electric bill then
calculate the total yearly costs.

You can then calculate your daily or hourly costs.

Daily Costs = Yearly total divided by 365 days

Hourly Costs = Yearly total divided by 8760 hours in
a year

This is how you can calculate the utility costs  per day or per hour (whichever you prefer).

Step 5: Profit

If you want to grow your business this is the most important part.

So so far if you follow the process until this step you will be paying yourself a salary, covering your costs and not losing money. If you add this part this is where you will see your business grow. The profit will allow your business to grow without you sacrificing how much you will make.

The profit is money that you can invest back into your business. So that you can afford that shop you want, buy new cake equipment, create a website, buy flyers, generally market your business, and outsource your bookkeeping, admin, etc.

Do not overlook this step. How much profit you add to your cake pricing formula is your choice. But aim for at least somewhere between 30% – 60%.

 

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Step 6: The Total Price

The final step is calculating all the steps.

(Labour/designer fee+ Cost of Ingredients + Sundry Costs + Utility
Costs) x Profit = Total Cake Price

For example,

Bose of Bose Cakes and Bakes has an order for  a 10 inch fondant vanilla birthday cake with small piping  and a few fondant roses on an iced cake board in a box.

Let get calculating:

Labour/your designer fee – N1,000 x 5 hours = N5000

Ingredients Costs = N2000

Sundry Costs = N600

Utility Costs = N450

Profit x 30%

The Formula (N5000+ N2000+ N600+ N450) x 30% = N10,465
Therefore the total price of Bose’s cake to the customer is N10,465

So this is the pricing formula  you can use to price your cakes and you can tweak it how ever you want. So no more undercharging for your cakes, you are a professional and should be paid as such.


 

me 6Rotimicakelady 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.

Do You Have A Business Or An Expensive Hobby?

This is something many home based cake business owners struggle with, and I will admit have struggled with this in the past.

Treating your business like an expensive hobby instead of a business. You might be doing this right now but you might not know it.

So, in this blogpost I am going to help you recognise whether you are actually running a business or in fact just have a very expensive hobby.

If anything I say below rings true, then you may just be running a hobby rather than a fully-fledged business, then please go and register for my Pricing your cakes right to build a money making cake business Masterclass where you will be taken through the process to make sure you move away from hobby cake business owner and move into the role of a successful cake businesswoman.

  1. You have not even registered your company

One of the first steps in setting up your business is to register it at the Corporate Affairs Commission.  Structuring your business properly from the start sets the right tone for not only yourself but for your potential customers as well.

You will appear more trustworthy and professional if you have a duly registered company. How can you expect your potential customers seriously if you too don’t take yourself seriously?

  1. You do not know how to price your cakes

I know pricing can be a real struggle for cake business owners. Most times we do not know how much we should charge for our cakes and in the end we allow ourselves to be under-priced.

People value what they pay for. If a person values what you are doing, then you should charge appropriately otherwise they will value you less and you will be known as the cheap cake lady.

You are in business to make money, so you need to charge right for your time, skill and effort you put in in crating that masterpiece of a cake.

If pricing is a struggle for you then register for my Pricing your cakes right to build a money making cake business Masterclass and all your pricing woes will be out to bed.

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  1. You don’t know how much money you make from my business.

If you don’t know how much money you are making then you also don’t know if, or when your business is making a profit or loss.

This is a clear sign your business is an expensive hobby.

The foundation of any business is in good record keeping and keeping track of your expenses. You need to have bookkeeping and accounting systems in place. This will help you monitor the finances of your business.

If you cannot tell how much you made and how much you spent in previous months, then it means you’re treating it like an expensive hobby.

So, if this is you then please, please watch my Training on Bookkeeping Systems you should have in your cake business here and here and put an end to it now with my simple actionable tactics.

  1. You know nothing about marketing

Customers do not fall from the sky. You have to go out there to get them and the only way you can get customers is by marketing. 

Marketing your business is a must. There are various marketing strategies you can employ such as social media marketing, having a blog, sending out email or sms newsletters. You need to be doing some sort of marketing on a consistent basis every day, if not; your business will find it hard to survive.

If you are unsure about marketing, then register for Pricing your cakes right to build a money making cake business Masterclass which has an  entire Module dedicated to Marketing.

Stop waiting for people to find you and go out and go get them

  1. You do not keep track of your time

Do you how long it takes you to bake and decorate a cake from start to finish? How long does it take for you to give a quote for a cake, answering emails, shopping for ingredients and so on? You need to keep track of your time. Because you need to be paid for your time. You need to earn a wage for the time you use for an order.

If you feel you are worth N500 an hour, then if you spend 5 hours shopping, baking and decorating a cake, that means you will have earned N2,500. So that amount should be added to the price of your cake.

If you don’t know where you are spending your time then you have no idea what you are actually getting paid.

 

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6.    Your family and friends don’t take your business seriously

The energy that we give off about something reflects on those around us. If you are finding that your friends treat your business like a hobby, then it’s likely you are also speaking about it in that way as well.

What kind of language do you use when you speak about your cake business? How do you stand and how do you feel? All of these signals are emitted and interpreted by those around us.
If you are upset by a friend or maybe even family members  not taking your business seriously or they keep asking you for a free or a cheap cake, then this is a sign that you probably aren’t taking your business seriously.

  1. You do not have a website because you are still deciding what logo to use

If the reason you have not launched your website is because you are still deciding on what colours, or logo or theme to use, then you really are missing the point of being in business.

Yes it’s good to get those things right, but don’t spend time and a lot of money deciding on such trivial matters. You mind should be on how to get your business out there so that people will know you and you can start making money, how to add value and how to be different from the other cake businesses out there.

So that’s it.

I have struggled with all of these in the past, and many home based cake business owners do to. And this is something that I help my clients to deal with all of the time through my coaching programs and courses.

So, if any of these are true for you don’t worry. You are not alone.

The most important step is to become aware of and identify the issue, and if you have done this by reading to the end of this article, that is a huge step, well done.

The next step is to come over and register for my Pricing your cake right to build a money making cake business masterclass and I will give you some really actionable strategies that you can implement straight away to build a more profitable and lucrative cake business.

 

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JOIN THE MASTERCLASS HERE


 

me 6

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.

We All Need Help Once In A While

For the last few weeks I have been so busy working on the Price Your Cakes right for profit Video Course. Recording videos, research, writing content,  doing the presentation slides, marketing on social media and also on.

So I didn’t have much of an Easter break or holiday when the children vacated for Easter. In fact the past 2 weeks have been something else. The children were on holiday and my nanny decided to take some time of. And on top of that, my temporary nanny was ill so it was just the kids and I. Plus I had to prepare for this Course.

I’m wondering how mothers handle childcare without any help. I have to clap for them. By the end of the week, lets just say i was exhausted. From bathing them in the morning and night, taking them to the toilet, cooking, feeding, entertaining them, cleaning up after them. Goodness, even nannies try.

I thank God I am fortunate enough to afford having a Nanny for my kids. I will be the first to admit that i don’t think i can do it all by myself day after day.

Although it was enjoyable the first 2 days. the kids loved that i was around with them doing their daily tasks. They know that when Mama is working they are not to enter the invisible door of her office (i have a small desk in one corner of my house, where i do my work).

So we have got to realise that we need a little help once in a while and there is nothing wrong with admitting that you do need help either at home, in your business and so on. That is why i have released 3 Pricing videos to help you if you have trouble pricing your cakes right.

I will also be doing  a webinar tomorrow on how you can increase your cake prices without losing customers (more details below).

At the end of the Webinar I will be opening registration for this Ultimate Course, which will cover what you need to have a money making cake business. 

So join me for the Webinar tomorrow and register for the Course. I will talk more about it in the Webinar tomorrow. Don’t miss it. It is at 6pm tomorrow. Once you register, the link for your Webinar shall be sent to you by email.

And by God’s Grace, when I make my income target for my Courses, I am going to give my nanny a raise. She sure deserves it.

For those who went through the Pricing Workshop with me, i say thanks.

I know you have gained loads of valuable information and you are on your way to being more confident in pricing your cakes.

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For those who missed out, here is again a summary of what we covered:

Workshop Video 1 (Part 1) & (Part 2)in this video we looked at the reasons why you are struggling with pricing your cake right and ways to overcome them so that you can price your baked goods properly.

Workshop Video 2Here I provided you easy to implement pricing techniques to get you started being the Pricing Queen.

Workshop Video 3 In this awesome video I showed you how to can get customers to accept the price you give them, no matter what.

If I do say so myself I think these Workshops were worth it.

But I am not done yet, because I am awesome like that. I want to invite you for this amazing Webinar class that I will be doing. You can get all the information here,

In this Webinar I will be teaching you how you can increase your prices without losing your customers.

We all know that the present economy has made ingredients go up almost 100 fold and we can’t sustain our business if we are scared of increasing our prices because we don’t want our customers to go somewhere else.

Yes you need to get your pricing right, but you need to know how to gain the confidence and know how to increase your prices while keeping your customers.

This is a live class, so it will be starting at the certain time and ending to at a certain time.

It is going to be packed full of information so get ready to gain valuable benefit for your cake business.

The webinar is going to be held only once, so please don’t miss it. 

REGISTER HERE

Link to join the Webinar Class: https://zoom.us/j/590522169

Date: Tuesday, 25th April 2017

Time: 6pm

See you at the webinar!

Here are the Registration details for the Webinar once againHow to increase your prices without losing customers.

In the Webinar you will learn:

  • How to increase your prices without losing customers- so that you can stop losing money;
  • How to increase your prices without losing customers- so that you can stop losing money;
  • Tactics & Strategies to increase your prices;
  • How to  convey value so your customers readily accepts any price increase;
  • How to communicate an increase in prices to your customers so that they can keep coming back;
  • A proven template to send your  customers that will guarantee your next  booking;
  • How to turn an enquiry into a paying customer at the price you want without sounding desperate.

     Register for the Webinar here

I will talk more about this Class at the end of this Workshop Video.

This class fills up quickly so it is best you register early.

Registration has opened.

IMPORTANT. I will send you the link once the Registration for the webinar is ‘live’ and you  can get more information about it here.            

Register Here For This Free Webinar

Also don’t forget to register for my Messenger Bot Service. I want to be sending messages to you directly on Facebook Messenger, so that you do not miss anything from Cake Business Owners Club. All you have to do is to subscribe by clicking on this link below:

m.me/bakingbusinessschool 

Cake Regards,


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.

How To Have A Profitable Cake Business

This week on Cake Business Owners Club I showed you tips on how you can have a more profitable cake business.

In case you missed these tips during the week, here is a recap.

Enjoy!

We are in this business to make money. Yes we love baking, and yes sometimes it doesn’t feel like work. But in order to survive in this business you need to know how to make money.

f30Understand who are your customers

You need to know your customers and what they want. Once you have that information, you use all your marketing tactics to target that customer base. If you are selling wedding cakes, you target brides and young couples; you have no business advertising to mothers.

If you are providing cakes for the lower end of the market, then you should be advertising and showing up in secondary schools and universities.

Know how to Price your Cakes

 You need to know how to price your cakes. You need to know the cost of ingredients, your labour time and how much profit you want to make.

Don’t let customers bully you to accept a low price, you are a skilled professional and should be paid as such. It is your business so you should be in charge of how much you price your cakes.

If Pricing is an issue for you, register for my Pricing your Cakes Right Video Workshop Series.

 

ccYou need to find a product that sells well no matter what

You need to find a product in your business that sells well. This has to be something that does not take a lot of time and is easy to make and brings in good money into the business.

For me this was when I started making Swirl Cakes. They take around 2 hours to make including the baking and they are inexpensive to produce too.
The good thing with these types of cakes is that they are ideal for most occasions.
          
What should you do?

The good thing about this type of method for you as a business is that they are speedy to make, and they sell for a good price.

To give you an example, for a 12” fondant cake with a floral theme I would charge N21,000. It would take me around 6-8 hours to make from scratch and the profit on this cake would be approx N9,000

A box of 12 cupcakes takes under 2 hours from scratch to make, costs no more than N3,000 to produce and sells for N8,000  making you a profit of N4,000                                    

However, I can make 3 Nos. 6 inch Swirl Cakes in the time it takes me to make that one fondant cake, netting me around N4,000 profit per cake.
If you’re savvy with your planning you can do this quicker and for slightly less cost too making your profits even better.

When you are able to do this for your products, your client is happy as you are providing options for them selecting different versions of the cake they want in terms of price.

Know your business’s peak seasons

If you have been in business for a while, you should know what periods when you sell a lot of cakes. Do you sell more cakes during December which are the wedding and Christmas season? If this is so, you should plan for these by either getting more staff and making sure you have all the ingredients you need months before.

 

w12Don’t offer too much cake varieties

You providing every type of cakes in every size, style and flavour will not make you rich. If you try and do this, you will be tired always, need a lot of ingredients and tools.

What should you do?

Instead choose a small range of cakes you will offer, for example if you have just a range of 3-4 products, you will have something to suit most clients. This doesn’t have to be restrictive at all but it does help you plan your time better.

For example you can offer boxed Cupcakes for the lower end of your pricing, then celebration cakes (birthday, anniversary, etc) for midrange pricing and, finally wedding cakes for the higher pricing market.

Your cupcakes can start from about N3,000, which are ideal for a small gifts.
Your mid-range celebration cakes can be from N10,000 for a 6 inch cake, these are cakes for bigger celebrations like a party or significant birthday.

Then finally your custom or  bespoke range is where your prices aren’t fixed as they are based on the hours that the cake will take you and the skill you will need to devote to it.

By having these distinct tiers of product your client will never be scared off by your pricing and if they would like a custom but haven’t got the budget then you have your celebration range to suit their needs and budget.

a24Create Good Cakes

The best marketing you can do for your cake business is to make sure that your cakes are tasty and of high quality, that is, using quality ingredients.

Once your cakes are fabulous, you are certain that your customers will keep on returning and will spread the word.

They are a wealth of marketing strategies you can employ, which I regularly give you tips, but the starting point is that you have to have good cakes.

 

s8

Provide excellent customer service

You need your customers coming back, so you need to give them a good experience all the time.

Deliver on time; answer all their questions in a pleasant way.

If there is a problem, solve it in a timely and with a smile. Customers remember the little things, and this helps you in retaining and keeping your customers.


If you have not yet registered for my Pricing Course. It is closing in a few days. As I will be launching my Pricing Course next week.   Here is the link to register .


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.