How to Start a Candle Business – Resources Included
December 9, 2020 292 views
Tips Insights and Resources to Help You Start a Candle Business
In this post, you’ll find a unique collection of hand-picked articles and resources that will help you start your own candle business.
Before you reach the resource section, I’d like to go over a few key points to consider. I won’t be getting into the fine details or step-by-step instructions. You’ll find those in the resource section.
Instead, lets’ go over areas that deal with strategy. It’s important to have a vision of what your business will be like once you are up and running. It’s useful to consider the issues well in advance of fulfilling them.
Let’s get started.
Are You Suited for This Opportunity?
Is this the right business for you? Are you getting into this business because you’re passionate about the industry, or are you in it because it looks like a good financial opportunity?
In my experience, it’s better to be passionate about what you’re doing because passion fuels creativity and the drive you need to succeed.
There are different types of people that are interested in running a business. You have those that are running a business because they are turning their passion into a business. And those that are running a business because of their entrepreneurial spirit.
If you’re the one with passion, then you have to ask yourself, do I have the skills to run a business?
Suppose you’re the type who doesn’t care about what the business does as long as it’s successful. In that case, you have to ask yourself if you have the candle industry skills needed for this operation.
Either way, the good news is you can learn the skills you need. You can gain experience and learn as you go or get advice and the information you need before making any important decision.
What Area of the Candle Industry Are You Targeting
Naturally, your first step is to determine what type of business you’ll be setting up. Since a candle business could be of several types, you need to decide on the area you’ll be dealing with.
You could be starting a wholesale business. Specialize in birthday candles. Manufacturing your own brand of scented candles. Or you may be thinking of selling candles retail.
So it’s to your advantage to decide and focus on one area. Once you have mastered that section, you could expand into other areas of the candle industry.
Will You Do All the Work Yourself or Hire Employees?
Are you going to run your business as a one-person operation, or will you need a crew?
You could start off as a one-person operation and hire staff as needed. The benefit of doing it this way is you can keep the cost down. You can gain experience, and when you’re ready to expand, you’ll know what positions to hire for and how many people are needed.
Have you considered who will be your customers? Are you planning to sell your products to the retail or wholesale market?
It’s very important to understand the customer you’re targeting to offer your products in a way that benefits them. If you don’t know anything about the type of people that use your product, you won’t be able to hone in on their desires. Understand your customer’s desires and needs before you attempt to do any marketing.
A good commercial location is a great choice for retail sales. For example, suppose you were located in a high traffic area of a large mall. In that case, thousands of people pass by every day, allowing you to market to those people. A commercial location has a lot of added costs. You have to make enough sales to cover your costs before you can profit from the business.
Online: Running your business online can be the least expensive way to start. You would need to set up a website or use a platform like Etsy. Keep in mind running a business online is competitive, as well as the cost to advertise.
You could also have a storefront with an online presence to sell to walk-in and online customers.
Now you have reached the resource section as mentioned earlier in this post. You’ll find the ins and outs of starting and running a business related to the candle industry.
A Collection of Resources Related to Starting a Candle Business
There are many resources to go through, and if you try to go through them all during this visit, you will become overwhelmed. The good news is the resources are available on this page any time you need them.
Disclaimer: Information on this site is intended for educational purposes. The publisher and authors are not liable for any damages or losses associated with the information contained on this website.
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