How to do a cake sale?

Could you elaborate on the steps involved in conducting a successful cake sale? For instance, what are some of the key planning considerations, such as determining the target audience, selecting appropriate cake flavors, and setting competitive prices? How would you advertise the event to attract potential buyers? Additionally, are there any specific techniques or strategies you could recommend to ensure smooth operations during the sale, such as efficient payment methods or proper cake storage? Your insights would be invaluable for anyone planning to host a cake sale.