Cake making as gradually become one of the most businesses women are engaging in these days. Once you master the art, you’d be surprised at how lucrative it can be.
However, there are a few things you need to know just before your first batch to avoid running at a loss.
5 Tips Business Owners Need To Stay Afloat During A Recession
Here are some of the challenges to look out for
- For the first time, do not make a large quantity to easily learn from the first batch which can be sold to family and friends for criticism (e.g. if it is too sweet or not fluffy enough). Make sure to learn from the criticism and make adjustments based on it.
- Also, be ready to market your product to schools, offices and restaurants. With this, there would be a recommendation and request to make bigger cakes so do not rest on your oars. Keep learning and keep getting better.
- Be careful to find the balance between setting a profitable price for your cupcakes and an affordable price for your customers. For example, you might want to sell at N100 and your customers might want to buy at N50.
- On the other hand, some of your customers might consider N50 to be too ‘cheap’ or ‘local’ for their taste. Finding this balance in pricing is critical to your remaining in business and earning profits.
Leave a Reply