How to Start and Make Money with a Candle Business
Are you tired of your day job and are looking to make money from the comfort of your home? Well, your search should end with this article. We all have one or two candles in our houses. If you are a candle lover, you can turn your obsession into a money-making business.
Candles were invented a few years back and you might be wondering if you should start selling them. Your answer is yes! This industry is expected to grow to 13 billion dollars by 2026.
Starting a new business can be a challenge but with a good business plan and an amazing marketing strategy, you should be good.
This article is going to answer some of the questions you might have in mind. Questions like; is it profitable? How can it be priced? as well as how you can pick your niche?
Candles and Melted wax: How to Make Money off Them
Seeing that this is not a new business and people have been making candles for a long time, you have to think outside the box.
Back then, you could recognize candles from far away because of their distinctive nature. Now, not so much. They have sweet smells that can be mistaken for something edible and also come in different shapes and sizes.
For instance, wax melts are a definition of cool and unique candles. For these reasons;
- They burn for a long time
- They have no naked flames
- You can control the strength of the scent
As you can see, the more creative and innovative you become the more you will not regret the decision of starting this business.
Before venturing into this line of work, there are a few things you will need to consider. This article has laid out everything you need to know to be successful in this occupation.
Find a Suitable Candle Niche
This is the most important part to consider. As we know, there are many candle brands on the market. So if you want your product to beat the rest, they have to stand out.
This can only happen when thorough research is conducted to assist in making the best decision in picking a suitable niche.
So how do you do that? Simple, first ask yourself who you are trying to target. Is it people in love? Or are you trying to sell the candles in church? These questions will narrow down your niche.
Below is a list of niches you can choose from:
- Frameless candles. These candles are ideal for houses with children, pets, and mayhem.
- Wax melts. They are flame-free candles that use electric wax burners to release a sweet smell.
- Votive Candles/ Tea Light. They are best known to be suited for prayers, romantic evenings, ceremonies, and also holidays.
- Aromatherapy Candles. They are mainly used for healing and therapy.
In addition, there are also birthday candles, beeswax candles, gel candles, floating candles, and soy wax candles. With a little research, you will realize that there are many types of candles in the market.
That said, it all comes down to who you want to reach out to. Is it stressed-out moms? couples going for a romantic gate-away? Grieving people? Or single ladies? There is a vast variety to choose from so pick your niche and get to work!
Look for a Supplier
Now that you are done with picking your niche, it’s time to find a reliable candle and wax melt supplier.
First things first, find a consistent supplier. You don’t want to be in a situation where the business is in its boom stage then suddenly you have a shortage of candles.
The next step will mainly depend on your interest. Apart from that, here are the other things you should consider:
- The locale. If the business is new, chances are you will start by selling small batches. So there will be no need to ship the candles from across the globe. Start somewhere close to the business.
- Expertise. Ensure you look for someone who has been in the industry for more than a decade. This person is more experienced and has everything you need to know about candles at their fingertips.
- Quality. For every candle you order, ensure that the quality is top-level. To be on the safer side, request samples.
- Price. Way your options. Compare the prices of different wholesalers and choose one that will offer quality products at a fair price.
And for more information, Google can give you the best answers.
Consider Handmade Candles
Relying on manufacturers and wholesalers may not be the only way to start this business. You can go the opposite direction and make the candles yourself.
The advantage is, that everything you always dreamed of can be converted into reality. The only thing you need is to put in the extra work.
For this idea to be successful, these are the things you need to keep in mind:
- Tools. Ensure you have the right equipment. Tools you need include; a scale, scents, oils, thermometer, containers, wax, etc.
- Packaging. Candles have to be packaged carefully and in a neat manner in order for them to be delivered to customers in the same form they were ordered.
- Branding. Assure the customers that what they are buying is of good quality. You have to win their trust and loyalty. Ensure what they have ordered is what is delivered.
- Marketing. For any business to succeed the marketing bit has to be on point. Look for marketing strategies that will ensure your product will sell. Consider having an online store, start a YouTube channel or market them on your social media platforms such as Instagram and TikTok.
Come up With a Price For Your Products
Now that you have identified your niche, looked for a supplier, or decided to make the candles yourself, it’s time to price the products.
An amazing fact about starting this business is there are other business ideas you can start from it. For example, dropshipping. Although this might be a whole new business model that has its pros and cons, it is something worth looking into.
Assuming you have picked buying candles in bulk from suppliers and reselling them, before you set the price tag, first consider the shipment, storage, packaging costs, listing fees, and also cost of the stock.
Every cost considered, it will be clear that purchasing candles from companies and wholesalers is less profitable than making them yourself. How so? Since almost everything is handmade, it is cost-effective and you can control everything, even the prices. That said, handmade candles should be the way to go!
Is There a Market For These Melted Wax and Candles?
There are a bunch of places where you can get a market for the candles. The most common way is by using social media to both advertise and sell. Or you can decide to go the conventional way of selling the products in person.
Let us check out both ways and see which is more convenient and ideal.
Using online methods
This is the best place for a beginner to use or someone low on cash. Sell everything from handmade candles to second-hand-made ones. Create an account and upload photos and videos of the products.
When you overlook the high fees it charges, Amazon is a good platform that will sell your products fast. The good thing is, that the clientele is always available and there is no need to use your social media handles to get clients.
Not everyone is cut out dealing with marketplaces. If you are looking for a platform that is free from that, then Shopify is the way to go! Once the challenge of no in-built audience is overcome, you will be good.
Being the best marketplace to shop for candles, Etsy gives these other platforms a run for their money. You can both advertise and list the handmade candle business.
To draw more attention to the business, start writing articles about the product you sell and post them on the blog. This is a cost-effective way to advertise your product.
With the right person to assist in promoting the store, this kind of platform can be a fine marketplace to sell your products. The profits will be shared with the owner according to the agreed amount.
If you are looking for a place that is fun and can sell the stock in a matter of days, try out this method. Customers based here come with a certain energy that is unmatched. Plus, you can sell anything. Here nothing is limited.
Most farmer’s markets barely deal with feature arts and crafts. But if you come across one that does, you will be surprised how much your products will sell. Since few farmer’s markets sell them, customers take every opportunity they get to stock their homes.
Does Candle selling bring back Returns?
Sure! Once you jump the little hoops that are there this can be a good business to start. Surprisingly, some people have quit their daytime jobs to concentrate on candles and their related products and doing extremely well.
Compared to selling normal candles, DIY has a higher profit which lies between 25 to 50 percent, and on a good day, 50 to 75 percent.
Is Starting a Candle Business Worth all the Hustle?
From my perceptive, I would say a big yes! One, there are many success stories of people saying they have benefited a lot from venturing into this business.
Two, when you look at the profit margins, it is safe to say that this is a lucrative venture. However, you have to be ambitious, creative, and willing to make handmade candles.
Having all these online ways to market the product is an added advantage. In my opinion, it’s smarter to start a blog where you can showcase the products and sell them directly to your audience.
And for more profit, reach out to companies and brands and offer to promote their candles through your blogs which is a win-win.
The candle business is among the best you can start. For you to get the most out of it, you need to find the niche that stands out. Everything we have discussed above will bring you a step closer to ensuring that the business is a success.