So you love making candles and your candles have received rave comments from friends and family and all those who have seen them. Probably you are thinking of starting a business of making candles. But before you venture out, these five tips could be of help in your candle-making business :
1) Cost calculation
Before you fix the selling cost of each candle, try and figure out how much it cost you to make that candle. To make many candles at once, you have purchased the ingredients in bulk. To calculate the cost of one candle, first figure out the cost per ounce of each of the ingredients. For example, you have used paraffin wax, acid, color, perfume and other items to make the candles. How much does each item cost per ounce ? and how many ounces of each did you put in one candle. Then you will know how much it cost to make one candle. In case you have added accessories like ribbons, bows, natural accents or boxes, don?t forget to add their costs too. Then there is a cost to the wick also. So after you have found the cost of one candle, your selling cost should be 3 to 4 times more than this value. And if you wish to sell the candles in bulk, the selling cost should be twice of the cost of production.
2) Buy your supplies in bulk.
It is always better and profitable to buy your ingredients in bulk. Ask your supplier about further discounts. Most manufacturers offer good discounts on purchases over 200 pounds. Remember, regarding fragrances ? if you use many of them, try and limit your choices till your business is more established. If you increase your variety, chances of profits also get reduced.
3) Marketing your candles.
One of the best ways to make profits from your candle business is to see that they are available readily from places people go to buy. And what better place to start than your local store. Locate a store that sells candles and seek an appointment to meet the Stores Manager. At the first meeting be polite and courteous ? as some people don?t prefer strong sales pitches. Watch out to remain soft but firm. In case you don?t get an appointment with the concerned Stores personnel, try a second time. Give them enough time to mull over your stocks. Provide them with samples, brochures and business card. Go back to them at a later date to enquire if they have had time to review your products.
In case you find a Store that seems to be interested in your products, provide them with some free samples, which they can keep burning at the front counter. A good way to do some market research. If the customers evince interest in these candles, the Store is most likely to stock your candles.
4) Specialize in a popular ?theme.?
Everyone these days desire exclusivity. Make your candles with a special theme, which people don?t get elsewhere. If ?country? is a theme that is popular in your area, make candles with this theme. You will therefore create a separate and exclusive brand. The natural candles make use of natural ingredients like leaves, twigs, dried fruits and flowers and they are extremely popular with the people. Try and find out what people prefer in your area and make your candles on that idea.
5) Never underestimate the power of smell.
There are many candle manufacturers who make candles which last long but makes the packaging such that it is impossible for buyers to smell them before they buy it. Remember, most people would like to smell a perfumed candle, before they buy it. If you create candles which have distinctive aroma, make sure that customers can enjoy this before they buy ? after all this is one of your winning points. Or else all the labor you have put in to make your candles exclusive, will simply go waste.