I think I'm just about on target with my pricing. I very rarely have people make comments about how expensive my quotes are, and win probably at least 50% of my quotes, so I think I'm about right. If most people get about 3 quotes, then if I'm winning more than 50% I am doing ok.
If I were only winning 33% I think I'd have to address things, but people do shop on price, and I think now I have a reasonable portfolio, people are getting an idea of my skill level. The money is in the wedding market really. Not because I think it's fair to ask more for wedding cakes, but because I am prepared to quote fairly for effort expended, and a lot of places quote at least $100 more when they hear the word wedding, where as I think that's unfair. My prices are based on labour and costs. They don't need to change because it's a wedding. My plan (to conquer the world) is to begin the relationship with the wedding cake, then continue it with all the kids parties and so on. If I could just begin that relationship with say 100 couples, imagine how much business I can create for myself down the track.
