Without you realize, your hobby of making candles can be a great business, especially if you pack them beautifully in custom candle boxes. In fact, in the US alone, candles have been considered as some of the fastest-growing businesses with a sales estimation of more than $3 billion every year.
Reasons to Be a New Entrepreneur with Candle-Making Business
Today, many creative crafters have built their interests to the entrepreneurial life. If you are one of them, then it’s a good thing as you could get many benefits such as:
- Build and invest your money in something that will be yours
- Have complete freedom to do your work without anyone orders you
- Have more time for your family and social life
- Make your own schedules and daily activities
Candle-making creativity can be a great business opportunity that can lead you to be a new entrepreneur. Below are some reasons to grab this opportunity.
A high market demand
About 7 out of 10 families in the US use candles daily. Customers these days have switched their preference to handmade products from those locally-owned businesses. Better yet, unique candles that wrapped in the lovely printed candle boxes are listed as one of the most hunted home decoration items in the market.
- Start the business easily
To start this candle-making business, you would no need to have a huge space or expensive equipment. All you need is to learn the process to make these candles which are quite quick and easy.
- Easy to sell
In this business, you could eventually sell a candle for $8 from spending only $3. This can be done easily by showcasing your enchanting candles in striking candle packaging boxes and place them gift stores. What’s more, you could also sell them online through your own website as well.
Make a Perfect Business Plan
Yes, handmade candles can open up a new range of business for you to reach. However, no matter which type of business you want to launch, you surely need a perfect business plan. Now the words “business plan” can sound threatening if you have no experience in it. Yet, you could actually make it short and simple instead of stressing yourself about getting all the details together perfectly.
Check out some steps you can follow below to launch your new candle-making business.
- Develop Your Pitch
The first thing you have to do is describe the core of your business along with the value you offer to customers. This is what we called ‘pitch’. For example, “Pure Love Candles Inc.” can be a unique name you could use to make a memorable impression on your targeted customers who love pure items.
- Define Your Targeted Market
Now that you have developed your pitch, you could define the best market for you to deliver your candles. For instance, if you have affordable and economical candles that packed in the splendid cheap candle boxes, then you could deliver them to the mass-market (a market where retail stores are the place for you to sell your products to customers).
- Discover Your Niche
Once you know which market will be great to deliver your candles, it’s time to identify your brand’s “niche.” A niche can be described as what makes your candles unique and distinguishes them from other competitors. This can be reflected from the unique scent combinations, exceptional packaging boxes, or maybe an authentic name for your candles.
- Set up a Startup Budget
As a small business, it will be best if you would set up the budget for your first two months. Approximate the cost of supplies, equipment, and all the things. Plus, don’t forget to give yourself an income for your time and effort as a business owner as well.
Launching a new business can seem like an overwhelming task to complete, and you might even think that there is no perfect time to get started. Nevertheless, if you’re passionate about handmade items, then this candle-making business will surely give you great profits. All you need is a great motivation to learn, adapt, and give your products the best display by wrapping them in the most appealing custom candle boxes will be your best startup.