How to Make Money Making & Selling Candles
Candles are big business. The National Candle Association estimates that more than $2 billion worth of candles are sold each year, and almost 70 percent of U.S. households use candles. Consumers purchase candles both for themselves and as gifts, and quality handcrafted candles sell as well as commercially manufactured candles. If you take the time to develop a quality product and market it effectively, you can earn a substantial income making and selling your own candles.
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Instructions
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Develop your candle-making skills. Practice with different types of wax, colors and fragrances to develop a candle that is equal to or better than other candles on the market. Spend some time researching the competition, and work to create a candle that combines all of the best aspects of the competition.
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Write a business plan. The plan should at minimum summarize your business idea, outline the financial structure of your business, detail your sales and marketing ideas, and analyze the competition. The plan will help you stay on track as you operate your business, but will also most likely be required if you seek outside funding as your business grows.
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Purchase candle-making supplies from a wholesaler. You'll need, at minimum, wax, wicks, fragrance, dyes, molds, containers and double boilers for melting wax, as well as wick sealers and measuring tools. Depending on the type of candles you plan to make, you may need other specialty supplies.
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Create space for your candle making. While some small companies start out in the owner's kitchen, as your company grows, you may need more space. You will need a heat source for melting wax, as well as working and storage space.
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Contact your state business license office to determine the permits and licenses you'll need to operate your business. You will also need federal and state tax identification numbers to claim your business expenses and profits on your taxes.
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Set prices for your candles. In general, the retail price for your candles should be at least two times the amount that it cost you to make them. Remember to factor in your marketing costs as a percentage of the price.
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Design a website to advertise and sell your candles. Alternatively, set up an online store at one of the major online shopping or auction sites, such as eBay. Include detailed information about your candles and what makes them different on your shopping site.
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Meet with local gift and specialty shop owners and ask them to carry your candles. Offer sample candles to burn in the store.
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Attend craft fairs or other events to market your candles. Have plenty of samples on hand for customers to experience.
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References
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