I am a baker, and I am thinking about starting a cake decorating business. There are a few other people around here that already do this, but they are really exspensive. I want to offer cakes at a lower price, I would still make a profit, but the customers will benifit from the lower prices in this bad economy.
The name of my business would be the fugal cake baker.
What do you think? About the idea and the name?
Thanks for any advice.

Assuming you meant The Frugal Cake Baker the name to me makes me think of cheap cakes. As in cheaply made; not good looking or tasting. I would re-think the name to something more positive and appealing.

In order to know if your idea is viable you need to write up a business plan. It sounds as if right now it's just an idea you're tossing around. You need to calculate your costs before you can determine if it will be worth it to you financially to offer cheaper cakes. Will you be baking from home or opening a shop? There are a lot of costs involved in a commercial endeavor such as this. It's not just the ingredients and labor, but marketing and advertising costs, equipment, delivery, supplies. And if you open a brick and mortar shop the costs skyrocket to include rent, maintenance, insurance, payroll, utilities, taxes, signage, etc, etc.

I agree with the previous poster that "Frugal" (if that's what you meant) is a bad name for a cake business.

I don't think your name has to say anything about the cakes being less expensive than your competition. People will know that just by your prices.

If you can do it cheaper than your competition, then I would go for it. But, you should think about why they are offering the cakes at such prices. Have you considered all the expenses? I just want to make sure you've thought of everything before you get into this business and then realize that you can't really offer the cakes at those prices.

If you did think of everything - go for it!

Make sure you get a website where people can order your cakes online. That way, you can advertise on places like craigslist.com

Good luck!
~~~~~~~~

Do you want people to know you as a "cheap" baker or would you rather be known for a top notch baker who makes outstanding cakes and have people flock to your door? This is a "duh" question so re-think the name. Do a google search for cake bakers and such to find ideas. You have to set yourself apart and above the crowds but not with price. Anybody can have a lower price. You want the best cakes you can bake that will have people lined up with their forks (and credit cards)

Kitchen Conversations
http://www.kitchen.infoesource.com

KitchenChatter on Twitter
http://www.twitter.com/kitchenchatter

Thanks for all the comments so far! I am licenced to bake out of my kitchen. I make pies and breads in the summer, I sell almost 100 pies a week in July and Aug. but it is the tourist that are buying them. When they leave, business goes down to nothing. The locals don't want to pay $13.75 for a homemade pie. They all shop at the local big supermarket where they have the cakes that come in frozen, and they bake them there and decorate them for $14.00. I am doing some baking for a ski resort in the area, that will give me some income for the winter here! It is mostly small stuff, cookies, bars, whoopie pies,but it's something!