Ever entered a room that smelled so fresh it took you back to the days when you spent half of your time reading a book under a tree? Or the smell of cookies that reminded you of yourself lying on a sofa in your grandma’s comfy home, watching her bake your favorite batch? Well, smells can do wonders for your memory and temper.
It is the same reason the scented candle industry is so popular nowadays. Whether it’s the comfort that drives you to start a candle making business or the passion for starting your own business that motivates you, entering this industry is a smart choice! Here, we have jotted down the reasons and a step-by-step process to help you start your candle making business.
Why Opt for a Candle Making Business?
There are multiple reasons why you should opt for this business.
Starting a candle making business is easy:
Thanks to technological advances, we now have unlimited sources to learn new techniques and skills. Luckily enough, the candle-making procedure is easy to learn. With your determination, you’ll be a pro in no time!
You can start a candle making business at a low cost:
You can start manufacturing candles at your home with the necessary equipment. You can find the required equipment from any resource (online or a store) and start your candle making business right away. You can upgrade to premium equipment once your business grows.
he candle making business is flourishing:
According to the Globe Newswire, Vantage Market Research shows that the candle-making industry stood at $6.8 billion in 2021 in market revenue and is expected to touch $9.9 billion by 2028 with a Compound Annual Grow Rate of 6.5%. Isn’t it a great reason to kick start your business right away?
The candle making business reaps high profits:
What costs you around $5 to make can be sold for $20. Isn’t this a good enough profit? You will have the privilege of setting a 20 – 50% profit margin for every product.
The candle making business has unlimited Selling Places:
When you have no limitations to selling your product, you can go wild will determining your prospects. Both online and offline can work since candles can travel well to places without damage.
Launching a candle making business offers flexibility:
You can happily defy all the rules for a nine-to-five job. How frustrating is it to work at rigid hours without any flexibility to get a break when you don’t feel like working? Now you can work for as long as you want, from wherever you want, and as long as you want. All without being answerable to anyone! Become your boss and lead a tension-free work life!
How to Start Your Candle Making Business?
Since you’ve probably made up your mind to start your candle making business, here are the steps you need to follow:
Master your art before starting a candle making business:
Take online classes, watch tutorials, or register in a physical class to learn your technique. Mastering the art of making good quality products should be your first step into this business.
Estimate your costs to start a candle making business:
There are two types of costs you need to figure out.
Manufacturing: Costs for purchasing the raw material and equipment. For instance, candle wax, essential oils, glass jars, candle wicks, double broiler pots, etc.
Operating: Costs that help you operate your business, for example, business registration costs, insurance, shipping costs, etc.
Decide your target audience once you start a candle making business:
Your target audience includes the people you know could be interested in your products. These are people who ask about your product when they see it in a store and go to your website to view more of your products.
Create your product to stand out in the candle making business:
Make candles offering scents from every category—sweet, citrus, woodsy, floral, and classic. Also, introduce a unique scent that is your differentiator from other competitors. Introducing a new smell and “combination scents” every month can be a good strategy to be above par and highlighted in front of your TA.
Build your brand in the candle making business:
How will your customers remember you when you don’t have a catchy name and appearance? Decide a brand name that represents your image and showcases your strength. Work extra hard on designing your logo to stand out (however, don’t overdo it). Work with a designer to design candle labels.
Additional steps in the candle making business
It’s time for you to get on the map! Register yourself with your state and get your permit license! Buy your trademark and copyrights so there’s no difficulty later. Keeping the legalities straight might sound serious and boring, but it is as important as making the candles themselves!
Develop your online/offline shop:
In this fast-tracking world, it is better to be present both online and offline. Create a user-friendly website for your customers to visit and place their orders. Place your inventory in stores that you’re targeting. Doing so will not limit your reach to only a few people. Instead, it will increase the number of eyes looking at your product.
Enter the market:
Before entering the market, it’s better to test your samples with your loved ones. It will be a practice session for your business and give you better feedback on your product to work through.
Create social media presence for your brand. You simply do not exist if you’re not present on social media! Launch your products offline and online. Market them through your social media accounts. You can introduce special offers and discounts to increase your initial sales.
What is the purpose of candle making?
Candles are used for their scent and aesthetic value, setting a soft, romantic, or warm ambiance, and for emergency lighting during power failure and religious rituals.
Who buys candles the most?
Women are the prime customers for buying candles, being sold for factors like their scents, colors, shapes, and cost.
What type of candles sells best?
Vanilla soy, sandalwood amber soy, almond vanilla, and mineral springs candles are the top-selling choices for customers.
Now that you have a pretty clear idea of how and why to start a candle making business, all you need to do now is get started. Make others feel the comfort, nostalgia, and serenity that got you going on with this business so passionately in the first place!