Cake business lesson: Running costs

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Cake business lesson: Running costs

with David Brice
HD Lessons: 1
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08:30

1. Running costs

As you would for your household accounts you need to keep a close eye on the running costs for your business. It’s very easy to pick up direct debits here and there, but you must always ensure that they are going towards the profitability of the business.

By clicking here you can download and then use and save your very own version of the Set Up Costs Worksheet. If you don’t have an application similar to Microsoft Excel simply click here where you can download a safe, free application that will enable you top open and edit the worksheet.

Business running costs are working out how much your business spends on a daily, weekly or monthly basis. You need to know these numbers to know whether or not you are making a profit.

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David Brice

David Brice

David Brice is the lead business tutor with Paul Bradford Sugarcraft School, which won the Best Learning Experience at the 2016 Cake Masters awards.
David´s career started in the Army then he moved over to become a civil servant with the MOD then latterly the Scottish Government.  His job prior to leaving was as a speech writer for the Transport Minister, which came with huge kudos, good salary and great pension. However, he wasn´t fulfilled, he knew that there was more to life than the role that he found himself in.
David knew Paul for a couple of years before Paul started his Cake Business in 2002, helping with some of the paperwork and admin required to set up a business. As Paul´s success grew it was clear that his business needed more support so in 2015 David left the security of his job and joined Paul in the cake business. That was a leap of faith as David had not, and still hasn´t, decorated a cake. However, he could see the potential and they grew the business to seven outlets with 35 staff. It wasn´t all plain sailing and its the highs and lows of that journey along with a lot of studying on business best practice that he shares in his Cake Business tutorials.
Paul and David sold the cake business to concentrate on teaching and are passionate about sharing their knowledge and experiences to help others.