Candle making business can be initiated with a small start budget and home based basis. People purchase candle not only for religious purpose but also to scent and decorate their home and business places. The popularity and consumer demand for scented and decorative candles create a tremendous business opportunity for the innovative startup entrepreneurs.
A small scale candle making business can be a great way for the entrepreneurs for extra money or even a full-time income. To start a candle making business, there are many things you should consider to ensure your venture is a success.
Compliance for Candle Making Business
In starting a candle making business you will need legitimate business documentation depending on where you want to start the business. For example, in India, it requires a trade license from local authorities and vat registration from the sale tax department of your area. You will also need trade mark registration of the brand name of your product. Talk to an attorney or small business advisor to know how to start the business. If you are from the United States, great place to learn about the laws and regulations regarding starting a small business is the Small Business Administration’s website.
Products for Candle Making Business
As like any business, the success of candle making business also depends on finding and focusing a niche. The candle is a product that caters a variety of purpose and types by its nature. Broadly you need to determine according to the purpose like a normal candle or creative scented candle as a decor item. Do some market research before starting a candle making business. For the normal white color candle, you will need to determine size and shape. For a creative scented candle, you will need to determine what types of colors, designs, shapes you will be making. You need to decide what type of candle you want to sell i.e. soy, votive, hurricane, tea light, wickless, gel, jar, pillar, novelty or scented candles.
Skills for Candle Making Business
Learn how to make a perfect candle by taking an online class or in person from experts as well as visiting the National Candle Association’s website: www.candles.org. You need to ensure that the candle burns from start to finish with a pleasant, strong scent. Also, ensure that candle burns evenly with no residue left on the sides of the jar.
Plan for Candle Making Business
Write a business plan with details of information about your niche and target audience, marketing and public relations plans. Include a detailed analysis of competing for candle segments, three years expense budget with profit projections of your candle making business.
Setup of Candle Making Business
Set up a work area of your own for making and shipping the candles and also you will need a computer for managing orders. Create a logo and printing materials like letterhead, business cards, catalog and brochure of your candle making company. You must ensure that each candle you sell has an appropriate warning label on it or you can give each customer a written instruction on candle care and use. A low-cost, home-based candle making business requires discipline, time management, and organizational skills. Fix the pricing of your candles carefully and competitively with ensuring profit.
Raw Materials for Candle Making Business
Find reliable vendors of raw materials like wax, color, fragrance and crafts supplies. Fragrance trends are important as it is often seasonal. Adding fragrance and experiment with color and artistic detail on the candles will definitely increase consumer demand for the product and the result is you are in more profit. Concentrate on other ornamentation related items like bowls, jars etc.
Promotion of Candle Making Business
You can start selling candles by renting a table at a craft show at your area, placing the candles in a retail location with consignment agreement or establishing a wholesale account with the retailers. Hotels, restaurants, spas are the big audience for decorative scented candles. Market yourself more than your candles by being professional and knowledgeable. Check all the products carefully before it go to market. Create a business website of your own. Register your business with B2B portals to get online leads. update your website frequently with new products and specifications.
Join a candle makers association and stay up-to-date on industry trends and connect with potential consumers. Promote your candle business online by making a promotional blog or website.
You can start the business with low start up capital. To achieve the break even it will take a minimum period of 4 months and expected gross profit is 35 to 45 percent.
Resources For Candle Making Business
If you are serious about starting the business for earning money from candle making business, we strongly recommend reading this book CandleMaking4You.
The author of this book, Danica White has shared a detailed guide that shows you the step-by-step process of starting a candle making business. In addition, the book provides the very basics to the most advanced techniques that are utilized by Master Candle Makers. Also, the book provides how to make all the different kinds of candles – including tealight, beeswax, hurricane shell, rolled, layered, container, molded pillar, votive, and many others.