How to Start a Candle Business
- Perfecting Your Craft
- Creating a Business Plan
- Locating and Managing Supplies
- Starting Marketing Candles
A candle business has low startup costs, about $1,000. Candle making can be very profitable – the industry may reach $5 billion by 2026.
To start from home, do market research first. This helps understand customers, competitors, and your market landscape. Accordingly, identify opportunities.
Most money is spent on equipment like double-boilers and pouring pots. Profit margins range from 30% to 75%. Earnings depend on production level.
Creating Your Brand
First, identify your target market. Then, perfect your craft. Next, create your brand by defining your company’s purpose and values.
Then, form the legal business structure. Options include a limited liability company to protect personal assets. Also, get required licenses and insurance.
In summary, starting a candle business allows pursuing a passion while earning money. Follow the step-by-step guide outlined here to get started.