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How To Turn Your Candle Making Crafts Into Cash
People often wonder when they get good at making candles is how to make good money with their candle making craft. The answer is pretty simple -- start a small candle making business. The truth is, people love candles and candles are a consumable item. Once the candles are consumed, people will always buy more. Customers are always looking for a unique twist on the average candle, and you just have to bring some unique and exciting candles to the marketplace.
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.
You must also be conscious of your pricing when turning your candle making craft into a profitable business. You will have to accept a smaller profit margin at the beginning, and don't expect to be able to sell for the same prices as the established candle giants. You also want to be sure to not give your candles away by selling your candle for too low a price. It is clearly a balancing act, and you will get much better with pricing as your business and experience grows.
Another issue that you must look at as you begin is accepting a smaller markup to begin your business. Do not expect to be able to price yourself into the market with your candle making craft at rates that rival the bigger more established companies. But also, don't sell yourself short. This seems like a tricky high wire act, but it's really not. Just like when you were coming up with the proper wax and wicks to use, do your research.
Go to the local Walmart and find out what poorly made corporate candles sell for. Then stop at the mall and see what Yankee sells a candle similar to yours for. Your candle making craft should sell somewhere squarely in between. After you've found the range in which others are selling their work, sit down and figure out the wholesale cost for the candles that you intend to sell. Stay as far away from the low end of the price research as you feel comfortable with. Remember, you do not want your candles to be compared to Walmart prices, because they will look cheap and people will associate that with poor production.
Finally, to make a profit with your candle making craft, you must figure out where you are going to sell your candles. It's probably best to begin selling to friends and family first and let your business grow by word of mouth. This is always the best way to get started. Another option is a booth at a local farmer's market. Also, check out what is available in the local consignment shops in your area. The Internet is another good way, but keep a couple of factories in mind. First, there are some free sites like Etsy where you can sell for free, but this type of site will only provide you limited exposure. If you pay for your own site, this will add cost to your candles in the form of web development and advertising.. You must decide if it is worth your while it to do either. You can most certainly make a profit with your candles, just remember these tips and plan accordingly. Once you have a solid business plan, you are well on your way to profitability.
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