Why Materials Times 3 Formula Doesn't Work | Build a Better Bakery

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The Bakery Business Guide - Pricing for Profit

Section 1: Pricing for Profit Introduction

Course Overview (3:27)
Intro Video (0:47)
Notes Before We Begin

Section 2: Pricing Pitfalls - The Pricing Struggle is Real

Pricing Pitfalls
Emotional Pricing (1:10)
Asking Others/Copycat Pricing (1:17)
Estimating (1:06)
Why Materials Times 3 Formula Doesn't Work (0:44)
When Self Confidence Gets in the Way (1:33)
Not Using a Formula (1:24)
Haggling and Bullying (3:00)

Section 3: Positive Profit Mindset - Get out of your own way!

Therapy Session (6:46)

Section 4: Why Average Pricing?

Why Average Pricing? (6:01)
Overview of Average Pricing Process

Section 5: Before Creating Pricing, Save Money Where You Can!

Saving Money in Your Baking Business (6:46)

Section 6: Recipe Conversion and Measuring

Tips on Recipe Selection for Pricing Purposes
Beginner Recipes - Vanilla and Chocolate Scratch Cake
Converting your Recipes to Weight (You will need a kitchen scale!) (7:16)
Finding Volume and Weight for Your Recipes
Creating the Recipe for 1 Cup of Batter/1 Section of Material

Section 7: How to Find Recipe and Product Element Costs

Cost Chart Introduction
Using the Cost Chart - Example Video (6:52)
Cost Chart for Packaging - Example Video (3:14)
Other Cost Charts to Complete

Section 8: Scaling Down and Averaging

Scale Down and Average - Step by Step Worksheet
Scale Down and Average Worksheet Walkthrough (3:57)
Make Scaling Recipes and Shopping Simple

Section 9: Calculating Depreciation and Overhead

Introduction and Charts
Determining Your Monthly Order Goal - Examples (4:52)
Overhead Cost Chart Walkthrough (8:25)
Depreciation Cost Chart Walkthrough (6:05)

Section 10: Income Strategies

Overview
Hourly Rate (2:54)
Profit Margin (2:06)

Section 11: Calculating Prices for Your Products

Using Your Pricing Forms
Product/Item Pricing Form Walkthrough (9:39)

Section 12: Compiling Your Final Average Pricing Chart and Tracking Sales + Profit

Building Your Unique Average Pricing Chart
Mock Average Pricing Chart for a Cookie Bakery (6:01)
Using the Monthly Business Sales Breakdown Chart (3:12)

Section 13: Adding Additional Charges

Adding Additional Charges and Fees
More Time (1:19)
More Materials (1:42)
Non-Edibles (2:09)
Late/Rush Fee (0:59)
Event Fee (0:48)
Delivery/Set Up (2:36)
Rentals (2:34)
Final Notes on Additional Charges and Fees

Section 14: Amending Pricing to Benefit Your Business

Changing Prices to Benefit Your Business
Intro and Promotions (2:30)
Donations (2:45)
Discounts (2:06)
Refunds (4:38)

Section 15: Taxes (for educational purposes only - not professional investment, tax or financial advice)

An Overview of Taxes
Expect 30-40% Paid in Self Employed Income Taxes in the US (1:18)
Sales and Use Taxes (1:17)
Organization (1:51)
Tax Prep (0:46)

Section 16: Transitions and How They Can Affect Pricing

Transitions
Moving Locations and Lowering Prices for the Market (1:12)
Networking (3:13)
Local Favorites and Menu Changes (0:58)
Solidify Business (2:13)

Section 17: Bravo!

Congrats!!
Thank You! (1:33)
Special Bonus Section

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Why Materials Times 3 Formula Doesn't Work

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