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How to Start a Candle Business
One of the best ways to achieve this is to start your own business and candles are a great option with healthy demand. Not only that, but starting a candle business is also low cost and low risk. That is why we are going to share some important and compelling reasons to start this type of business.
Why should you start a candle business?
There are all kinds of business ideas that people can consider starting, but the appeal of the candle business is that it has so many different approaches. Candles are used in all kinds of events and situations. This makes the product extremely versatile and that is the main reason why it is worth considering as a very viable option.
The types of candles you can sell
You will find that there are several types of candles that you can sell and a great advantage is that most of them can be made at home.
The following are the most commonly sold:
These are probably the most popular of the bunch at this point. They have a very clean burn and they last longer than many other types of candles. If you decide to go for soil candles, they are in high demand.
There is no doubt that a large group of people is very concerned about the type of materials used to create the candles they buy. This is why vegan candles can be a great niche in themselves. Environmentally friendly products are very popular.
Aromatherapy has become a huge thing and people love the idea of various scents for their homes. The use of these candles has skyrocketed now that people are looking for a more relaxing way of life.
This can be anything ranging from candles that are decorating a living room and are not meant to be lit, to candles that are used for birthday cakes with specific shapes, or special events and celebrations.
The five main steps to get started
There are many steps that you need to take into consideration when starting a candle business. With that said, there are five essential steps that are going to be extremely helpful in this process.
Step 1: Find your niche
When you are looking to become a successful candle business owner, you need to be able to come up with a great way to make your product stand out. Find your niche within your target audience.
What this means is that you could decide to sell candles exclusively for birthday parties and create special party candles with all sorts of shapes and colors. This is just an idea of how you can stand out with your candle business.
Step 2: Find out your target audience
Understanding the audience that is buying your candles is very important. Once you have defined your niche, you need to consider what your target audience wants. What they expect from your service, how old they are, their motivation to buy, etc.
Once you have that, the process of approaching that audience is much easier because you know the best way to promote your candles to a specific group of potential buyers.
Step 3: Make a business plan
Making a business plan is always an essential part of any business proposal and you really need to consider this to be the next step after you define your niche and audience. There are a few important steps to consider when you make your plan.
A. Choose your business name
This is going to be crucial for your business success and it will help your brand power grow faster. It is always a good idea to consider a name that will immediately let people know what it is you are selling.
B. Set the costs
You need to be able to set the costs of your business to have an idea of what you can expect in terms of revenue. This is also going to allow you to determine the product price.
C. Set your product price
The price of the product is not an easy thing to decide as there are many factors involved. You can’t go too high because you are starting out and you don’t have brand power. This means sales could be slow and if you go too low, your profit is going to be minimal even if your revenue seems good.
D. Design your logo
Your logo is going to be the face of your business and it is essential for you to ensure that you can come up with something appealing. The logo is the face of the brand, so make sure that yours really stands out. It will be a very important aspect of your marketing strategy.
E. Get your paperwork done
There are many aspects of a business that are very relevant, but the one that truly matters the most is to get your papers in order. Make sure you have any required permits, licenses, or certificates required in your specific state. Fortunately, there isn't much paperwork that you need to do to start a candle business.
Step 4: Where do you sell
Finding the best platforms to sell your products and services is going to be essential. Amazon, Shopify, and Etsy are all perfect examples of the kind of platforms that are available. They all have their own systems and policies, but they prove to be very reliable options for you to sell your candles online.
Selling candles is a shipping-friendly decision, but you should make sure that you provide proper packaging to avoid any issues due to the fragility of some candles. This is especially important when selling online.
Step 5: Market your product
There are many ways to market your products, but one of the most effective in modern times is content marketing for organic growth. This is done by posting interesting content on a blog dedicated to topics related to candles. You can also use social media to reach your audience or appear on podcasts, etc.
Some people also opt to look for influencers that can showcase and recommend their products. This is one of the latest trends due to how effective it is to use influencer marketing in many situations.
How your life can change with this type of business
Just imagine the many ways in which your life could change if you decide to start a candle business. There are countless benefits when you start a candle business. You are going to have more time to spend with family and friends and more time to travel, for hobbies, and the fact that you will be your own boss is also undeniably appealing.
Like any other business venture, a candle business is going to require some hard work and dedication to start seeing results, but it is an excellent choice for a business venture that has a lot of growth potential.