Candle Business Startup Costs
On average, costs range from $350 to $8,000 depending on equipment, materials, and marketing.
- Production equipment costs $500 to $5,000.
- Supplies like wax, molds, and wicks cost $3,000.
- Insurance and legal fees cost $500 to $3,500.
Business Opportunity in Candle Making
- The candle industry is expected to reach $5 billion by 2026.
- The $2 billion US candle market shows potential globally.
Profitability and Success Factors
- Profit margins range from 25% to 50%.
- An eight-ounce candle costs around $3 to make.
- Candle business owners can make up to $91,500 annually.
Tips for Starting a Candle Business
- Keep startup costs low by beginning small and testing products.
- Homemade candles can last up to two years.
- Proper market research and marketing strategies are crucial.
Expected Growth in Candle Market
- The candle market is valued at $7,562.83 Million today and is expected to grow by 5.26%, reaching $10,156.05 Million by 2028.