People that start to make great candles often consider whether they can make money with their candle making craft. The answer to that is a resounding yes. Candle are super popular, are consumable and people are always looking for a new and different candles.
A critical point to remember is that your candle making craft must be something that stands out in the eye of the consumer. Yankee and Old Virginia Candle Companies own the market on the standard, ready made scented candle in a jar. Unless you have access to a factory, 50+ employees, and a research department, you probably aren't going to compete in this market. This doesn't mean you can't make a significant profit in your new candle business, only that you must be creative and provide unique and exciting creations.
For example, in Lynchburg, Virginia, corporate home of Old Virginia Candle Company, there is an artisan who makes enough money with her candle making craft that she advertises on television and receives orders from all over the country. Her specialty is a technique in which she makes large scented candles in a mold and while the wax is still pliable, she shaves into the candle creating unique curled wax along the candle's sides. This is the type of eye you must have in your own candle making craft.
Another factor that you must deal with as a beginner is accepting a smaller profit per candle. You simply can not expect to be able to price yourself into the market with your candle making craft right off the bat. You will not be able to charge prices that rival the bigger more established companies. The key is to not go overboard and sell yourself short. This seems like a tough balancing act, but it's really not. Just like when you were coming up with the best wax and wicks to use, do your research. See what your small business competitors are doing and make sure you are in that range.
Here is a great tip that you should definitely do. Go to the local Walmart and determine what poorly made corporate candles sell for. Then stop at a craft shop and see what Yankee sells a candle like you are going to make for. Your candle making craft candle should sell somewhere in between this price points. After you've found the range in which other small candle makers are selling their candle for you have a place to start your pricing analysis. You want to spend the time and sit down and figure out the wholesale cost for the candles that you plan to sell. Stay as far away from the low end of the price research as you can feel comfortable with. Remember, you do not want your hand made candles to be compared to Walmart prices, because they will seem cheap and people will associate that with poor production.
Finally, if you are going to sell some candles from your candle making craft efforts, you are going to have to have a place to sell them. You will probably be best served to sell to family and friends first. This will allow you to get some of your candles in people's home, and this will help you spread the word about your new business. You can also set up a booth in a farmer's market or put some of your stock in consignment shops in your area. You can sell your candles on the Internet as well. There are free sites to do this like Etsy, but this will probably give you small results due to limited exposure. If you build your own website, this will help you a lot. This must be factored into your costs, both your time and the advertising required. You will know what your budget and time constraint are, so just do what is reasonable for you to handle. You can make good money selling your candles. You just need to plan your work and work your plan.
A critical point to remember is that your candle making craft must be something that stands out in the eye of the consumer. Yankee and Old Virginia Candle Companies own the market on the standard, ready made scented candle in a jar. Unless you have access to a factory, 50+ employees, and a research department, you probably aren't going to compete in this market. This doesn't mean you can't make a significant profit in your new candle business, only that you must be creative and provide unique and exciting creations.
For example, in Lynchburg, Virginia, corporate home of Old Virginia Candle Company, there is an artisan who makes enough money with her candle making craft that she advertises on television and receives orders from all over the country. Her specialty is a technique in which she makes large scented candles in a mold and while the wax is still pliable, she shaves into the candle creating unique curled wax along the candle's sides. This is the type of eye you must have in your own candle making craft.
Another factor that you must deal with as a beginner is accepting a smaller profit per candle. You simply can not expect to be able to price yourself into the market with your candle making craft right off the bat. You will not be able to charge prices that rival the bigger more established companies. The key is to not go overboard and sell yourself short. This seems like a tough balancing act, but it's really not. Just like when you were coming up with the best wax and wicks to use, do your research. See what your small business competitors are doing and make sure you are in that range.
Here is a great tip that you should definitely do. Go to the local Walmart and determine what poorly made corporate candles sell for. Then stop at a craft shop and see what Yankee sells a candle like you are going to make for. Your candle making craft candle should sell somewhere in between this price points. After you've found the range in which other small candle makers are selling their candle for you have a place to start your pricing analysis. You want to spend the time and sit down and figure out the wholesale cost for the candles that you plan to sell. Stay as far away from the low end of the price research as you can feel comfortable with. Remember, you do not want your hand made candles to be compared to Walmart prices, because they will seem cheap and people will associate that with poor production.
Finally, if you are going to sell some candles from your candle making craft efforts, you are going to have to have a place to sell them. You will probably be best served to sell to family and friends first. This will allow you to get some of your candles in people's home, and this will help you spread the word about your new business. You can also set up a booth in a farmer's market or put some of your stock in consignment shops in your area. You can sell your candles on the Internet as well. There are free sites to do this like Etsy, but this will probably give you small results due to limited exposure. If you build your own website, this will help you a lot. This must be factored into your costs, both your time and the advertising required. You will know what your budget and time constraint are, so just do what is reasonable for you to handle. You can make good money selling your candles. You just need to plan your work and work your plan.
About the Author:
Patrick McTigue is a long time student of candle making . For additional outstanding pointers and information about candle making crafts, visit http://www.candlemakingsuccessplan.com/candle-making-crafts/.
No comments:
Post a Comment