Cake making is a very competitive and tough industry to be in today. For your business to be a success, you always have to look for new and better ways to promote your business. You need to invest a lot of time and hard work for your cake business to thrive. The best way to leverage your cake business is to look for other ways to make extra income besides baking cakes. If you have cake stands, starting a wedding cake stand rental can go a long way in making extra income. Most cake businesses, like the party rental GTA, charge anywhere from $50 for an event for a cake stand. If you rent out the stands once a week for a whole year, you make an extra $2,600. This is not bad since the stands were a one-off investment. Here is how you can ensure that you turn a profit from your cake stand rental business.
1. Get the Right Stands for Your Business
To kick-start your wedding cake stands rental business, you need to put a lot of thought into the type of cake stands you pick for your rental business. You need cake stands that will work with a variety of cake designs. They should also have the ability to hold different cake sizes and should be strong. The classic pedestal cake stand is a good idea to start with. It works well to hold different cake designs and sizes. It is also available in different colors.
2. Advertise Your Services
If you do not tell cake clients that you have cake stands for rental, they will never know about it and this stops you from maximizing on your income potential. You can introduce the idea to clients by asking them what type of cake displays they are interested in. Then see if their idea can work with your cake stand. If it does, you can pitch the idea of using your rental stands.
3. Offer Clarity About Your Business
Ensure that the information you give about your cake stand rental business is clear and concise. You should have a cake stand hiring policy to safeguard your business interests and also those of the client. This policy should outline the payment method and what the client is liable for. This prevents confusion in case the stand the gets damaged or lost while out for hire.
4. Always Ask for A Deposit
Regardless of how good quality your cake stand is or the kind of relationship you have with your client, it is always a good business idea to ask for a deposit every time the cake stand is hired. The deposit amount should be equal to the cost of replacing the cake stand should anything happen to it. The deposit is usually refunded when the stand is returned within the agreed upon time and in good condition.
5. Organization Is Important
Since you are also a baker, the last thing you want is for your stand rental business to be a time sink. Therefore, you need to ensure that you plan your cake stand rental business around your main business – cake making. To ensure you save on time, always have a designated place for your cake stands, this should be somewhere visible to clients. You should also ensure they are always clean and ready for shipping. Also, keep a clean record of the hiring schedule. It should be complete with dates and client details.
