Start a candle-business, no matter whether you’re a candle maker by nature or an entrepreneur trying to find the next business opportunity.
This blog gives you a free guide that will show you how to turn your hobby into a profitable business.
Plan and research your company
To have a realistic assessment of the success of your business, you’ll need to make a step-by-step plan. It can be hard for a new business owner to grasp the details of the industry and comply with regulations. Here are some things that you should consider:
- Logistics and procurement of materials for making your candles
- The full cost of bringing your candles into the marketplace
- Pricing strategy
- Target audience
- Candle trends
- Marketing strategy
If you’re already making homemade candles, you’ll know what to do. As you make candles to earn money, it is possible for things to change.
Equipment and cost of candle making
Your candle making business doesn’t require much space or equipment. If you are manufacturing your own products, you can operate your business from home as long as you have enough space.
You can either order complete candle making kits online or you can buy individual items. These tools cost about $130 in total. These are the essential tools for candle making:
- A pot and bowl for melting the wax or a special double boiler to produce more.
- A thermometer.
- Equipment to measure, such as a scale and a measuring container.
Deciding where you want to sell your candles
It all depends on the kind of candle you are making. You have several options. One is to sell your candles online, and another is to open a marketplace or retail store using a small business loan.
Your products could be sold at a farmer’s market or wholesale to grocery stores and gift shops.
Online sales are the best choice for new businesses. Online marketplaces like Amazon, eBay and Etsy are all options. If you would prefer to list items for free on online marketplaces like eBay, Amazon or Etsy, you could use social media platforms like Facebook or Instagram. You can also create an ecommerce website and link to that page.
This area allows you to have total editorial control over how your items are represented, your branding and how you decide to process customer payments.
Turn up the heat
The key to starting your business is organization and good money management. Point of sale (POS) systems are the backbone of online and in-person retail businesses. You can manage all important aspects of your company using one cloud-based software package.
- Get detailed analysis on areas important to your business
- Sales reports filtered by product, season or trend
- Inventory reviews including trend detection, profit margin and profitability
- Multi-award-winning inventory control that syncs online and in-person sales for the latest stock levels.
- Automated orders to purchase stock if it falls below a specified level.
- Customer management systems that can store customer contact details and shopping preferences. This allows for more targeted marketing.
- Integrations with over 100 apps, such as marketing and accounting software, bookkeeping apps and loyalty programs apps.