Ways To Make A Profit In The Candle Selling Business
No matter how prosperous the economy is, or not, people have always been interested in running their own business. Some just want to create an extra stream of income to help with the ever-increasing bills. Some others dream of quitting their jobs and becoming financially independent. No matter which is your choice, most people want something that’s not too hard to run, most likely something that involves selling. Building a candle selling business can help you achieve either one.
A lot of people have become interested in making and/or selling candles as a business opportunity. It doesn’t hurt that anyone can learn the skills to make candles, and that selling them is just as easy, because there’s a lot of demand at pretty much all times of the year, with peaks at Christmas and in the lead-up to Valentines Day. So the real quest here is how to make sure you run a profitable business.
Homemade candles are very appreciated when offered as gifts. There are plenty of workshops where you can learn how to make all kinds of candles. Once you know how to make them, there’s even more literature (books, ebooks, software) to help you market them effectively. There’s a lot of ways to make money selling candles; here’s a list of suggestions to help you successfully build your business.
- If you want to run a profitable business, you have to keep your costs at their lowest. The best way to do so, especially at the beginning, is to buy already made candles. This allows you to haggle and negotiate prices. If you perform this step correctly, you’ll be able to get your candles at rock-bottom prices, which will greatly increase your chances of actually turning a profit. You basically act as a salesperson, earning revenue on the merchandise you sell
- Making your own candles is another option to keep your costs low, but you also have to understand that there’s a reason why you should get some candle selling experience under your belt first. Making your own candles means that you have way more expenses to keep track of. In addition to this, it’s much easier to sell your own candles once you’ve already actually achieved some sales out there.
- Even though you might be starting this business on a small scale, you need to be clear what your strategy is. Put together a business plan in order to visualize the growth of your business. What is your selling strategy going to be? Who are you going to sell to primarily? How are you going to reach your target audience? What is that going to cost? Will you have an online component to your business? How are you going to handle that?
- As with any business that you’re building, it would be wise to see it not as it is right now, but as it might become in the future. Which is why you should at least pay for consultations with an attorney and an accountant in order to set it up right and avoid any legal or tax problems in the future.
- Take full advantage or word of mouth advertising. It’s said to be the most powerful form of advertising out there, and it’s free to boot. Your family and friends should be the first market you tap into to establish your business and generate sales. You can start by offering them samples (make sure that you drive yourself out of business though). If you work your business right and turn them into satisfied customers, they will help you by recommending your candles to their own family and friends, as well as other acquaintances.
- Participate in local events such as bazaars, craft shows, flea markets, fairs, and expos. Go to your local chamber of commerce, they should have a calendar of such events, that you can use to plan your production (or wholesale buying) schedule and show up to rack up sales by putting up a display of your best and most affordable candle products. Show up with plenty of business cards to pass around. Those events are great opportunities to get new clients. They’re also valuable in terms of getting your name out there.
- Host a candle party in your home. Organize a candle party and invite everyone you basically know. Send creative invites either by email or ask everyone by phone. Ask them to bring someone as games and freebies will be the main attraction. Once again, you have to make sure you keep your costs under control; the last thing you want is to give away merchandise and fail to capitalize on the opportunity to acquire a sizable prospect list for further contact.
- You can also make money with candles by engaging in actual workshops. Organize a candle making seminar and encourage attendants to give it a try. You can also organize a candle fundraising event and give a portion of your sales to charitable institutions within your area. Ask non-profit organizations to try and sell your products. In the end, allocate a percentage of your earnings to these charities as rewards.
- Build your own online candle shop. While this is very much similar with the first option, you can manage to be different by presenting your items in a more effective manner. Asking someone to create your personal website gives you lots of advantages, since you can manage and have your own business without necessarily keeping oneself awake during late evening hours and breaks.