Starting a business is scary. There’s a lot to do and more to think about. What aspiring candle business owners need is a friendly and guiding hand. Introducing our 10-steps to opening your own candle business! You’re one step closer to your dream. Now, what’s next? Read on and good luck!
Step #1: Decide What Kind of Candles You Want to Sell
One great advantage of your own business is letting your creativity loose. However, when starting out, it’s best to limit your product line to one or a few different kinds. Running an enterprise, no matter how small, is always a challenge.
There are several tasks involved day-to-day, each with their own processes. It’s likely you’ll be juggling many hats on your own, if not all. Give yourself some breathing space by limiting your products and services until you’ve adapted to the ups and downs.
Step #2: Decide Who You Want to Sell To
This can be interchanged with step one. Very prudent entrepreneurs would argue this should come first because you’re either targeting a market that you know needs your products or can afford them. There’s less risk involved, and your research efforts would be more focused, saving time and money.
Step #3: Identify the Exact Costs
Will you be operating solely online? Will it be a brick-and-mortar shop? Will it be both? Supplies, tools, containers, and equipment… There are many factors that affect the cost of a business. Do as much research as you can and list them all down, including the exact amounts so you don’t receive a nasty shock when you start accepting customers or even before then.
Step #4: Research on Legalities Involved
These can vary state to state. Are you required to create a separate workshop for production? Should it be separate from your home? If you’re renting, would your landlord allow you to have a workshop on the property? It’s not the fun of candle making you expected but it’s necessary for peace of mind. You’ll thank yourself a million times later.
Step 5: Register Your Business
Make it legal! No one wants to be facing a judge for illegally selling candles. It’s not a fun experience, and it’s not a great story. Save yourself the trouble.
Step 6: Prepare Your Workspace
You’re almost there! Everything is starting to take form, and you’ll see the physical manifestations of your dreams come true soon. The fun is now starting! Get out your vision boards and scroll through Pinterest. Remember to follow safety regulations because you’re dealing with very hot temperatures and flammable items. All that leaves now is…what do you want your workshop to look like?
Step 7: Find Vendors
You might have to go through a few before finding the ones that offer products and services at prices that, when calculated, fit the cost per item of your product. It’s easy to prioritize searching for ones that deliver the level of quality you’re happy with is also important. Just keep in mind that you owe it to yourself and your market to choose suppliers that align with your vision and values.
Step 8: Hire Your Team
If you have the budget, creating a team one person at a time is recommended so you can focus on what you do best, your craft. Resist the urge to go big at once, unless you’ve done thorough research into the industry and your market, and strategized accordingly.
When you’re confident about your success, keep a way to cushion those days to months of low sales anyway. They’re normal in the building phase. If you’re not confident, or you don’t have the financial wiggle room yet, you can always hire as your business picks up.
Step 9: Market Your Products
There are different routes you can go. Upload teaser posts on your social media accounts to get people curious and interested for a wider reach. To begin slow, reach out to your connections and ask them to tell others about your new venture. Word of mouth is still the most effective, and cost-efficient marketing method.
Step 10: Open for Business
Yay! You’re now on opening day! Bask in the rush of the first few months, even if some days are complete chaos. One day, you’ll look back in miss the thrill of being a new and small candle shop. For now, focus on the present. There’ll be time to think about the future during the next brainstorming session.
Start Your Business Today!
Still have questions? Stay updated with our blog to know more about running a candle business. But don’t just wait for our articles to come before taking action to see your candle business become reality. You only move forward, when you place one foot in front of the other.
There will always be something you don’t know. The great thing about life is it’s about learning on the way, and responding accordingly. The key is to always ask, “What’s the next step?”