I found this article helpful, if anything for the friendly peptalk. From The Business of Cake Decorating #9: Pricing your cakes by Earlene Moore…
Of all the comments (with a question) I hear over and over and over again is. “I feel funny about charging people for what I do. I know it takes my time but, I am learning with every cake. How much should I charge for my cakes?”
Why do you feel funny about charging people for a product that they request from you? Do you feel funny about paying to have the oil changed in your car? Do you feel funny about paying for cookies in the store when you get to the check out stand? I don’t think I have ever heard anyone get to the check out stand and tell the checker “I would like these cookies but I really think that they are only worth 69¢ instead of the 89¢ that they are marked. When people request a product from you it has worth. How you determine the price is by the ingredient cost, the time you put into that product and the quality of that product. Then there is also one more thing that figures into how much you can charge – your reputation and the demand for your product.