A candle making business is a good bet. According to statistics, about 80% of households in America use candles. The majority of candle sales — 35% of annual sales — happen around the holidays. This is when candles are most likely to be given as gifts and used in holiday decorations. Candles are sold in three main locations: specialty/gift shops, department or home product stores, and through mass merchants such as Amazon and Etsy. The biggest trend in the industry is to get away from owning your own candle shop. Furthermore, candle making continues to hold its own as a profitable home-based business. Is it time for you to make candles as a business venture?
Candle making businesses are one of those ventures that you can start at home, in an empty room or basement. Or you can also consider buying an existing candle business with the help of CGK business brokers. Here are reasons to join the business of candle making:
- You don’t need a lot of capital to start
- There is an existing market.
- You can create your own schedule.
- You are not limited by geography in the places you sell.
Table of Contents
Guide to help you start the Candle Business:
It can be difficult to know where to start when starting your own business. So, we are here to help you with a step guide.
1. Design unique candles:
Designing and making your own custom candles is the fun part, and that’s probably why you’re looking to make this artisan craft your side or full-time business.
Candle making allows you to play with shapes, scents, and colors to create attractive products. for example:
- Try making personalized candles with photo memories
- Use colors and molds to make candles inspired by anything from desserts to landscapes
- Design centerpieces for festive tables or weddings
2. Analysis of the Niches and select:
Eco-friendly candles? Scented candles? Luxury candles? Decide on your product and your target audience, and then proceed. It’s a good idea to check what your competitors are doing to see if there are any gaps in the market. You may also find it useful to do a SWOT analysis of your business and key competitors to identify key areas to focus on.
3. Planning and Budget:
Although we could all do without a business administrator, a business plan helps you understand your purpose, strategic objectives, and competitors. This can also help if you plan to apply for a start-up loan. Next, you’ll need to consider the costs and create a budget. Setting up your own candle making business doesn’t have to be expensive – the initial start-up cost can be around £50, depending on the candle supplies you have. To figure out your budget, you need to think about:
- Set-up cost (including equipment and supplies)
- How much time is required to get the product ready?
- How much does it cost to make each candle?
- Shipping cost (if you’re selling online)
4. Legal requirements and insurance:
There are no such specific or legal requirements for selling candles across England, but you should be aware of:
- General Product Safety Regulations 2005 – Check Government Guidance on Product Safety
- Specific guidelines from your local business standards office
- Safety and Testing Rules – The British Candlemakers Federation has published product testing and safety labeling guidelines for candle businesses.
Whether you run a craft stall or just sell online, your customers will expect your products to be safe. That’s why craftsmen need to get insurance.
5. Marketing and Selling:
When it comes to making money selling candles, think about where you will sell and how you will market your business. For example, are you selling online or in a brick-and-mortar store? It’s easy to set up an online shop using Shopify or Etsy.
Profitability and Advice:
Of course, the only way to spend any money is if you’re going to make money on the back end. The main problems come after this “target audience” and where to find them. At least to start, you are running a candle making a business out of your home. It can also play a role in what type of wax you choose. This is because paraffin wax and soy wax do not work in the same way. They have different pour temperatures, set times, and more. You will be working with melted candle wax, and it is important to set up your workspace so that there is a flow. The wax is heated in a metal kettle and filtered before adding perfume, fragrance oils, and/or dyes. The molten wax is cooled and poured into the molding table located on top of the mounds. This is the process when you have “continuous” molding machines and make candles in groups. You can also cast each mold manually and individually.
References:
- https://www.simplybusiness.co.uk/knowledge/articles/2022/02/how-to-start-your-own-candle-making-business/
- https://millennialboss.com/start-a-candle-business/
- https://smallbiztrends.com/2021/10/how-to-start-a-candle-business.html
Featured Photo by Ron Lach : https://www.pexels.com
