How to Accurately Price/Cost your Cakes for Bakers | Cake Pricing/Costing for Profit

CAKE PRICING/COSTING
A major cause of concern among budding and even established Bakers is one critical aspect of Cake Business. And if you lack sound knowledge in this, you would just be floating on guess work and you cannot take it from me, build a Thriving Cake business on this.
Know your Cake costs and know peace.🙂
This is where your mathematical skills and abilities come to play because oh yes, it involves a lot of calculations which however tasking will pay off in the end. So get your pen and paper and let's calculate our Cake cost.
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Now unto him that is able to do exceeding abundantly above all that we ask or think, according to the power that worketh in us
Ephesians 3:20
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Music Credit
KZbin Audio Library

[@tanyinana7013]

Thanks very much Oluchi everything you teach is something we pay to learn 🙏 I'm grateful ❤️

[@OluchiImoh]

It's my pleasure Tanyi Nana, thanks for the acknowledgement and for watching!❤️😊

[@joankimau1202]

Wa wa this lesson was made for me.surely mamaa you have helped me alot I was wondering how to charge bt now you have settled down my worries.be blessed God bless you so much.

[@OluchiImoh]

Amen! Really happy to know you found it helpful. Thanks for your kind feedback Joan.

[@eniyemochi1195]

Just came across your page and I am glad I did God bless you ma,so many answers to my questions

[@OluchiImoh]

Welcome to the Family Eniye!❤️ Amen and you too. Glad you found it helpful.

[@eniyemochi1195]

Pls I don't know if there is anyone in this community staying in Ikorodu Lagos and its environs,I will like to identify with you so I can be better mama Oluchi has pumped me up so much to start

[@estheroloton6052]

Thank you so much direct and straight to the point

[@OluchiImoh]

It's my pleasure Esther, thanks for watching!❤️

[@bakareadenike4802]

Thank you

[@OluchiImoh]

It's my pleasure, Adenike.

[@utibenyah8070]

Where have you been 😩😩 This is amazing ❤️ Thank you Ma ❤️

[@OluchiImoh]

Here all along. 😊 Glad you found it so. It's my pleasure. ❤️❤️

[@omonayinifeoluwaflorence2852]

Wow. I took notes for this. Thank you so much for this

[@OluchiImoh]

You're most welcome Ifeoluwa, thanks for watching!❤️

[@sarahopoku3915]

Beautiful... I would wish if there would be another version of this topic... you kindly demonstrate. Thank you

[@OluchiImoh]

Thank you Sarah. Okay, it's not as easy tho.

[@sarahopoku3915]

@@OluchiImoh I'd really appreciate it if you could... huge thanks

[@ggold4825]

And yes, you did get the message across clearly, well understood. 😘

[@OluchiImoh]

Great, thanks for the feedback! 🥰😘

[@hardeykunmiadex7520]

Thank youuuu ma. God bless you for this.

[@OluchiImoh]

Amen!! God bless you too!

[@maureenmwuese6544]

Very helpful. Thanks.

[@OluchiImoh]

You're most welcome.

[@fikayoonyia3323]

Thanks

[@OluchiImoh]

You welcome Fikayo!

[@ggold4825]

Tnks once again sis. More blessings

[@OluchiImoh]

You're welcome sis, amen!

[@owoyemieniolarahmat5609]

Tnks for this ma... God bless you

[@OluchiImoh]

You're most welcome, Amen and bless you too!

[@Eunice_Adewoyin]

Thank you ma for this enlightenment.

[@OluchiImoh]

You're most welcome!

[@radhiashamsudeen3568]

Thank you so much ma for this class. I learnt alllot!

[@OluchiImoh]

You're most welcome! Glad you did.

[@radhiashamsudeen3568]

Please ma where does the icing for the cake fall? Will it be recipe or material cost?

[@OluchiImoh]

Recipe.

[@radhiashamsudeen3568]

Thank you ma

[@OluchiImoh]

@@radhiashamsudeen3568 you welcome.

[@lovelynsdiaries8510]

I was really waiting for this, thanks Oluchi ❤️

[@OluchiImoh]

You're most welcome Lovelyn!❤️ Glad it's here now.🙂

[@kenwadiwa3145]

Thank you mama

[@OluchiImoh]

It's my pleasure Kenwa!😊

[@eugeniasowatei9859]

Thanks so much ma’am… this is helpful

[@OluchiImoh]

You're most welcome Eugenia, thanks for watching!

[@babybaker937]

Nice I found this

[@OluchiImoh]

Glad you did!

[@viananaadejoke501]

Thanks again am finding the class thing difficult. Please ma how can I go about it. I really need the classes. Can go about it.

[@OluchiImoh]

Please remind me, can't remember which I was referring to in the video.

[@karuruwambui3466]

Loved this content.Thanks

[@OluchiImoh]

Happy to know, thanks a lot for your kind feedback! ❤️

[@sylviannenna916]

Thank you so much

[@OluchiImoh]

You're most welcome namesake!

[@Snackonpoint]

Nice one Sis... Well itemized.

[@OluchiImoh]

Thanks a lot Sis!❤️

[@salamatubashiru129]

Thank you a lot🙏

[@OluchiImoh]

You're most welcome Salamatu!

[@cocoarose7241]

Thank you for this information, would the hourly rate be included in profits ? How much of a profit percentage should go back to the business ?

[@OluchiImoh]

You are welcome. Using this method, the profit would be included in your hourly rate. And the percentage depends on you as well as the amount you decide to invest again in the business. Other factors are the size of your business and other expenses you incur in running the business.

[@cocoarose7241]

@@OluchiImoh Thank you for replying !

[@OluchiImoh]

It's my pleasure!

[@catherinesmart8687]

Thank you for your teachings. I’m thinking of using real butter in my bakes. But I’m worried about warding off customers because of price. Do many bakers use real butter in Nigeria? Do customers think it’s too pricey

[@OluchiImoh]

You're welcome Catherine. The question I will ask is what kind of Cake business do you want? This will help you sort out that fear to some extent. Yes, I know bakers who do and also those who mix with margarine. It depends on what you honestly want.

[@deluxecakesnevents]

Awesome class ma, please how about the egg? How do you calculate it

[@OluchiImoh]

Thank you very much Kosisochukwu. You would divide the number of eggs Lee crate to get the unit cost. It's the unit cost you'd then use to multiply the number of eggs you're using for that particular recipe.

[@adebolaadeoye6736]

Please is the class still on??

[@OluchiImoh]

No, it's not.

[@amenodeh2545]

Thank u so much for this teaching. When an order is being made by a customer, will I tell the customer to wait for me to calculate my cost or should I have a fixed price?

[@OluchiImoh]

You're most welcome. The way it's done is to do your costing for your Cakes and have the prices ready. This is what will be your base pricing which will be added to cost-wise if there are other intricate details or toppings.

[@uwadinmahtheresa7598]

Thank u so much ma

[@OluchiImoh]

It's my pleasure!

[@ovieloveth5068]

Please teach me how to calculate a fondant cake and the profit. Listing the things and calculate them one by one please put me through ma.

[@OluchiImoh]

Hello Loveth, that's a tall order, I'm afraid I won't be able to meet up. Just follow the points as listed, get a note and pen and state the items you need for a fondant cake, then take it up from there. It takes time but you can get it done.

[@nancytimothy4721]

Thanks ma

[@OluchiImoh]

You welcome Nancy.

[@Chiwoful]

For the colour, baking powder and soda how do we count the unit cost...?

[@OluchiImoh]

For the baking powder and baking soda, the easiest would be to divide the cost by the number of teaspoons you have in it. This unit cost will then be multiplied by the number of teaspoons you use for a particular cake flavour and size. For the colour, I'd say pick the least amount you can.

[@Nafaecakes]

Should hourly rate be fixed? or does it depends on the size of the cake as well?

[@OluchiImoh]

Fixed and reviewed as your skill and work increases.

[@ThiaChiammy]

Does this work for a small baker who doesn't buy cake stuffs in bulk🥺

[@OluchiImoh]

Sure, it does. Calculate the same way, it applies.

[@damilolaracheal3469]

Happy birthday in arrears ma 🎂,please where do we classify the equipment used?

[@OluchiImoh]

Thank you Damilola! Indirect.

[@damilolaracheal3469]

@@OluchiImoh I mean which cost/cake pricing do we classify the equipment used in baking?Like mixer, turntable.

[@OluchiImoh]

@@damilolaracheal3469 That's the response I gave, indirect.

[@adeosunomowumi8444]

Thank you so much ma but pls ma In my area now there are some people that can price rubbish is it because the locatuon or because that how some baker are collecting the price from them for example if I should say this cake is 10k they will be pricing it 5k or 6k What should I do pls ma

[@OluchiImoh]

You're welcome. There are a number of reasons why this is happening. Maybe I would make a video on this. Would that help?

[@ToluHarounAdamu]

I believe it would

[@nengibriggs654]

Please how exactly do I calculate the unit price of each ingredient? I'm not so good at math so it's really confusing

[@OluchiImoh]

This is an example Bag of 50kg Flour is N12,000 1kg = N12,000/50 = N240 100g = N24 250g = N60 500g =N120

[@henrittajohnson4041]

Thank you so much for this, I really needed it. But how do you go about delivery.? Do u deliver personally? Or to dispatch riders?

[@OluchiImoh]

You're most welcome, glad to know. I have someone that handles that for me, sometimes I do, other times, Bolt.

[@osinachirhoda3311]

I came late oo Pls when is the next class for the tomatoes and carrots??

[@OluchiImoh]

Sorry oh! You're referring to the fruits and veggies class right? I'm thinking of releasing it again very soon. Are you ready for it now?

[@osinachirhoda3311]

@@OluchiImoh Yes. If the price is fair

[@OluchiImoh]

@@osinachirhoda3311 okay, what's your definition or range of fair price?

[@osinachirhoda3311]

@@OluchiImoh 🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️ Mama pls tell me your price.. If it’s what I can afford I will go for it Am a beginner in this yield but I want to acquire knowledge as much I can.. And wait for orders to come🤦‍♀️🤦‍♀️

[@ujuchukwunelo2385]

Please do you collect full payment for your cake,or do you collect part payment then collect your balance on delivery at the wedding venue?

[@OluchiImoh]

Ah, no please oh! All payments should be Fully paid before the Wedding day.

[@ujuchukwunelo2385]

@@OluchiImoh Thank you so much ma❤️

[@faithfriday9861]

I don't understand the inches cake oo especially the 10 inches

[@OluchiImoh]

Okay Faith, 10 inches means the size in width.

[@ifeomadoris337]

i want to learn from you ma. please I want to be ur student, I'll let to become an expert. pls ma get back to me

[@OluchiImoh]

Doris, thanks for your interest but I'm not in Nigeria at the moment.

[@ifeomadoris337]

Okay ma What bout going for online classes with you?

[@OluchiImoh]

@@ifeomadoris337 I don't really know Ifeoma, if you don't mind the financial commitment, you can send me a mail. I'm reserved about this cause most people are not ready to pay the price.

[@ifeomadoris337]

@@OluchiImoh okay ma