I am launching my food business and I stumbled across this video, and let me just say how thankful I am! Wow this video was so informative and I’m really glad I watched it. Thank you
I can see why you were successful in your business! I’m very particular in who I get information from and you are an absolute gem! I just resigned from my 16th year in education to do something completely different. I am doing my research and taking notes. You are the best!
I used to own 3 bakeries from 1989-1995. Yes it was long before RU-vid and the internet. God I wish I had access to informative content like this back then. I’m enjoying your videos keep up the great work.
I appreciate this video so much, I actually have an excel sheet made but yours is a reminder that there’s so much to a business than the food! Thank you!
Thank You so much for this tip and the video. I am based in Namibia and I have been running a home bakery for 8 years and this is the one are that I have been challenged with for a long time. Coming across your channel and this video I subscribed 3 minutes in
To your main point of: how much should I charge for X ... there is and should be an argument made that choosing to not buy in bulk for generic (important term) items that are easily and readily available consumables should not be a cost that is passed on to your customers. For example, if you choose to use only robinhood flour, and you always use AP, and you buy it at a small store or even the same store in small quantities, which results in over twice the cost of the flour as to buying the exact same flour in a bigger size, that is mismanagement of funds. How is this relevant and why should this cost not be past on to the customer? Well, there are a few sides to this argument. I higher volume baker and (important term) a same volume baker buying in quantity, under the exact same building and coding circumstances, producing the exact same quality (important term) would be able to sell their product at a cheaper rate, while still getting paid the exact same in profit. So, given supply and demand of the market, should both be equally known to the same market, the second producer would always gain more in sales. However, it is important to note that just because something is bought in lower quantity, it does mean that it is identical to something sold in higher quantities. For example, choosing to buy real vanilla beans, and creating your own vanilla extract with vodka is not the same thing as buying a bottle of vanilla extract, even listed as real and pure, not even at the most high end store. Customers will often choose to buy handmade. Anyways, I was confused when you opened your video: how much would you pay for this ... it leaves a lot of questions: is this a customer presenting you with an idea or request, asking you how much you would charge for an item they want you to make? Or is this a friend who is asking you your opinion for the same, or perhaps for a product they want to make themselves? Or is this a competitor who you could care less about asking you to answer this type of question? Good video, confusing and unfounded at times, but it really makes you think.
Hey I love your video! I was just wondering if the voice audio was supposed to go out for the part where you go through the ingredients list? The captions work fine though!
Thank you so much for sharing. This is really helping me as a starter. One question, I live in Europe the netherlands can I use your spreadsheet too? Wish you many blessings for the work you do🙏💋
Hey! Absolutely! You'll just need to convert from US to whatever your currency is, and then change the formula in the cells. I'm sure you can google it or find someone to help you who knows Excel. Good luck! Also!.. Bake Diary works with all currencies! www.bakediary.com use coupon code: PASSIONTOPROFIT for a discount!
Hey Melinda, I'd definitely recommend Bake Diary! It's not an app, it's web-based, so you would just go to bakediary.com from your phone, sign up and input your costs and recipes from there! Use the promo code PASSIONTOPROFIT for a discount too!
