How much should I charge for a cake?

[MrsMuddle]

Not sure where to post this. I sometimes make cakes for friends, free of charge, just because I enjoy baking. A friend of a friend has asked me to make 2 for her for a work function and to "give her a price". The cakes will serve about 8 people each. She has asked for a lime cake and an orange and poppyseed one.

My dilemma - she has said that it doesn't matter how much they cost. They have a generous budget. There might also be more "cake" opportunities there, so I don't want to undercharge. But it feels really odd to charge for something that I usually do for nothing.

MN jury - how much should I charge for each cake?

Double the cost of the ingredients?

Tenner each?

£8 each ie a pound a slice

MrsM, great question

How about costing the ingredients, plus your time and a bit for equipment/electricity?

Or, go to your nearest deli/patisserie, and look how much they charge for a piece of similar cake and multiply by 8 to get a price for each of your cakes.

Chances are that you will end up with a price that is considerably more than you would have given if you had just pulled a figure out of nowhere.

OK, you've all confirmed what I was thinking. I was thinking of £12 per cake - £1.50 a slice, which is less than the deli price. It just sounds so dear! Especially when you can get really nice cakes from Sainsbury's or somewhere for £3 or £4.

Thanks for all your advice.