Step-By-Step Guide on Starting A Candle-Making Business From Scratch
Starting a candle making business can be a fun and rewarding way to turn your passion for candle making into a viable source of income.
The entrepreneurs, like Jackie Aina, who are into the business are extremely low-key – you won’t know how lucrative the business is if no one tells you. An average candle-maker in Lagos, PH, Abuja, and other major cities earns between N150,000 – N500,000 per month.
Here is a 10-step guide to help you get started
Research the market:
Before starting your business, it’s important to do some market research to see if there is a demand for your candles. Look at local competitors, online sellers, and craft fairs to get an idea of what types of candles are popular and how much they sell for.
Develop a business plan:
A business plan will help you map out your goals and objectives, as well as outline the steps you will take to achieve them. It should include details on your target market, financial projections, and marketing strategies.
Choose a name and register your business:
Choose a unique name for your business that reflects the style and focus of your candles. Register your business with the appropriate state or local agencies to ensure that you are operating legally.
Obtain necessary licenses and permits:
Depending on where you live, you may need to obtain licenses and permits to operate your candle making business. This may include a business license, sales tax license, and food handling permit (if you are using food-grade wax).
Set up a workspace:
Determine where you will be making your candles and set up a workspace that is clean, organized, and equipped with the necessary tools and equipment. This may include a wax melting pot, wick centering tool, thermometer, and molds.
Source supplies and materials:
Research suppliers and order the necessary supplies and materials to make your candles, including wax, wicks, fragrance oils, and packaging materials.
Create a product line:
Develop a range of candle products that cater to different tastes and preferences. This could include scented candles, unscented candles, soy candles, beeswax candles, and more.
Price your products:
Determine how much you will charge for each product based on the cost of materials and your desired profit margin. Remember to factor in any applicable taxes and shipping costs.
Promote your business:
There are many ways to promote your candle making business, including creating a website, participating in craft fairs and markets, and using social media to reach potential customers.
Keep accurate records:
Keep track of your income, expenses, and inventory to ensure that your business is running smoothly and efficiently. This will also help you plan for the future growth of your business.
Starting a candle making business requires time, effort, and dedication, but with the right planning and execution, it can be a fulfilling and profitable venture.