Study finds most profitable products among U.S. retail bakers
The Cakehole first opened in Indianapolis in August of 2015. Owner Jovanna Hinkle turned her part-time passion into a full-time career by constantly working at it and getting the support of her mother.
The hard work has paid off, as The Cakehole was recently recognized as the Best Wedding Cake in the Indianapolis area by Indy A List. Behind the strength of its wedding, birthday, and specialty cakes, The Cakehole has achieved a great amount of success in a relatively short time frame.
That success speaks to the power of mastering cakes, which is seen as the most profitable bakery product among U.S. retail bakers. Cakes are not only a beloved dessert, but they also allow for a greater return on investment through the different varieties for which they can be customized.
Wedding cakes continue to be big business in the United States. According to wedding publication The Knot, the average amount spent on a wedding cake is $582, up from $575 in 2015.
Birthday cakes are also incredibly popular orders from bakeries, because of the need to customize them. Cakes are used to celebrate countless occasions, which is why the bakery that can master this art is in a great position.
Bakeries such as The Cakehole can convert cakes into solid profit margins and quick recognition, so it is no wonder why they are viewed so favorably.