As promised I determined this year to show you all as many ways as I can how to make money from fun and unusual ways, making money isn’t the easiest thing in the world but it can be a lot of fun if you have a passion for something, I for one have a passion for cake, love the cake.
Well in this new making money guide, I am going to show you how you can have your cake and it eat it, not all of it mind just some of it. A few years ago we experience a global phenomenon of cupcake explosions around the globe, you could take a step outside your front door without being hit in the mush by someone with a fancy cupcake offering, then came the nations favourite Bake Off, you would think that we are all sick of the cake by now, well no I am not alone we love our cake as much as we love our pets, the baking industry in the UK is worth over 3.5 billion.
How to get a slice of the action:
The best thing about baking (and eating) cakes by way of making extra cash, is that its flexible and can be as simple as your skills will allow, you might want to freshen up your skills or even take a local course on baking and decorating before you hit the public, but there are lots of very simple recipes you can find on sites such as Baking Mad.
Some simple steps
- Research: car boots and farmers markets are the best place to sell your home baked goods, so take a trip to as many of your local ones as you can, look at who is there and who is selling similar goods, look at what selling well, and talk to the locals, find out what’s missing and aim to fill the gap and their bellies. Also its important to understand whether the location is upmarket or more down to earth.
It’s also important to make sure you keep on the right side of the law. Legislation says that all food businesses must register their kitchens with their local authority unless they operate on a “casual and limited” basis only.
If you’re simply selling cakes once in a blue moon at a car boot sale or market then you don’t need to worry. However, if you are planning on doing this regularly, contact your local council and ask them what the rules are. If you do have to register your kitchen, it’s totally free to do so.
- Do the numbers: Whatever you decide to bake and then sell (and eat) it’s important to keep track of what you are spending, you need to consider the following and factor that in to your price:
- Your time
- Fees for stall hire
- Are you investing in your own stall
Add all of your costs up, divide by the number of cakes, and you have your cost of production, then simple add your margin, which is the amount you will make from each sale. It’s important to note what the competition is selling at too, so keep up with your research.
- Practice Bakes Perfect: Before you hit the public, practice and practice again, try different recipes, invite friends and family over and find out what they think, ask them how much they would pay, and then sell them a batch, this is also an ideal cake eating opportunity for you, eat some cake it’s good for your sole.
Once you have found your baking strengths decide upon a range, start with a few simple selections and choices, and as your experience grows, expand the range, listen to your customer’s feedback and respond, by eating cake.
- Presentation of your goods: This is vital, you need to make sure that you cake stand or stall looks enticing, it’s a good idea to experiment before you leave the house, make sure the cakes look like they want to be eaten, do plenty of research and practice. Make sure your pricing is clear and tidy, you and your stand is clean and inviting. Have plenty of bags and containers too, and a big bag of loose change.