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Candle Making Business Plan Template

Written by Dave Lavinsky

Candle Making Business Plan

You’ve come to the right place to create your Candle Making business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Candle Making businesses.

Below is a template to help you create each section of your Candle Making business plan.

Executive Summary

Business overview.

The Countryroad Candle Company is a startup candle manufacturing company located in Augusta, Georgia. The company is founded by Emily Reynolds, a creative and driven individual who wants to turn her favorite pastime into a thriving business. Emily has a background of seven years in marketing housewares to the retail sector and she has a keen eye for design, which brings her to the startup phase of her candle making company.

Countryroad Candle Company will provide a wide array of candles in scented, decorative and pure iterations of the concept Emily Reynolds is bringing to the company. Each candle will have unique properties, including a small candle within each large candle, which doubles the light and beauty of the decoratives on the candles. This unique feature has not been shared or adopted by anyone else, hence Emily has the drive to get this unique candle making product line into the market.

Product Offering

The following are the services that Countryroad Candle Company will provide:

  • Small to large uniquely-designed candles, in sizes of 3 to 8 inches in diameter and in height up to 17-inches.
  • A selection of carefully curated candle holders, glass bases, and other complementary items to highlight the candles.
  • Candle accessories, including candle snuffers, long decorative matches, and scented bottled oils to add to the fragrance of the candles.
  • 12-pack cartons for sale at retail; 6-pack boxes for sale to smaller shop or outlets.
  • Single candle pricing for sale online, in addition to 12-pack cartons
  • Special discounts for disabled or elderly individuals who will use candles for healing properties

Customer Focus

Countryroad Candle Company will target all consumers in the greater Atlanta area. They will target retail stores and store chains. They will target gift shops, flower shops and other related independent stores in the region of Atlanta. They will target event venues, party planners and event coordinators.

Management Team

Countryroad Candle Company will be owned and operated by Emily Reynolds. She has recruited Sarah Thompson, the former production manager of her last employer, a large candle making company called Glow & Co.

Emily Reynolds is a graduate of the University of Georgia, where she graduated with a Bachelor’s degree in Marketing. She previously was employed by Glow & Co., but decided to branch out and create unique candles that would offer new designs and new fragrances to the boutique candle offerings of the area. Emily’s stellar marketing efforts and courtesy with clients led her former employer to win the 2022 title of “Best Customer Service in Atlanta.”

Sarah Thompson has been creating and overseeing the manufacture of candles for over thirty years. She specializes in long-burn candles and produces the combination of ingredients that lead to fragrant, high-end candles with a beauty that cannot be surpassed. The new company offers her an opportunity to create distinctive “candle within a candle” design and manufacturing experience and she’s excited to begin the tasks ahead. She has the expertise and extensive background in candle-making to produce superior candles with the practicality of high burn time combined with stellar beauty.

Success Factors

Countryroad Candle Company will be able to achieve success by offering the following competitive advantages:

  • Friendly, knowledgeable, and highly-qualified team at Countryroad Candle Company
  • Extensive product line of unique candles, with properties that are highly-desirable.
  • Curated candle accessory assortment prepared and vetted for retail sales
  • Packaging in quantities that will support all retail customers, small to large
  • Industry knowledge and contacts that are extensive and international
  • Countryroad Candle Company will offer the best package pricing for the highest-quality candles offered. Discounts will also apply to disabled and elderly customers who use the candles for healing properties.

Financial Highlights

Countryroad Candle Company is seeking $200,000 in debt financing to launch its Countryroad Candle Company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the various marketing strategies to be employed. The breakout of the funding is below:

  • Office space build-out: $20,000
  • Office equipment, supplies, and materials: $10,000
  • Three months of overhead expenses (payroll, rent, utilities): $150,000
  • Marketing costs: $10,000
  • Working capital: $10,000

The following graph outlines the financial projections for Countryroad Candle Company.

Countryroad Candle Company Pro Forma Projections

Company Overview

Who is countryroad candle company.

Countryroad Candle Company is a newly established candle design and manufacturing company in Atlanta, Georgia. Countryroad Candle Company will offer unique candles, designed with beauty and carrying delightful fragrances, to the retail markets of the Atlanta region. The candles will be a proprietary offering by Countryroad Candle Company and the production of the candles is a patented process. Countryroad Candle Company will provide a mix of carton and box packaging assortments so that customers can purchase in bulk or in smaller configurations to suit their retail outlets. Their full-service approach includes a comprehensive price structure and delivery options to suit every buyer.

  Countryroad Candle Company will be able to bring a new aspect of candle-making to the candle customers within the housewares and giftware industry sector, providing a superior product line and one that contains both practicality and beauty combined. The team of professionals are highly-qualified and the production manager is a seasoned veteran at candle-making and all aspects of packaging and shipping products. Countryroad Candle Company offers everything that other candle manufacturers cannot: a unique product line, beautiful decor on each candle, fragrances that complement each candle and packed cartons in a variety of sizes for all levels of retail.

Countryroad Candle Company History

Since incorporation, Countryroad Candle Company has achieved the following milestones:

  • Registered Countryroad Candle Company, LLC to transact business in the state of Georgia.
  • Has a contract in place at one of the Atlanta area buildings to set up its candle-making production line and office space within 10,000 square feet.
  • Reached out to numerous former buyers and associates to announce the establishment of the new business and discuss advance orders.
  • Began recruiting a staff of six and office personnel to work at Countryroad Candle Company.

Countryroad Candle Company Services

The following will be the services Countryroad Candle Company will provide:

Industry Analysis

  • The candle manufacturing industry is expected to grow over the next five years to over $190 million.
  • The growth will be driven by an increased number of consumers using candles for self-healing and stress-relieving properties.
  • The growth of the demographic strata of Gen Z, Millennials, and other younger-aged groups who will use candles extensively in homes, offices and areas of relaxation.
  • The growth of fragrances with known healing properties and their use in candles.
  • The increased number of wedding and party planners looking for unique lighting.
  • Costs will be reduced by lower-priced candles imported into the U.S.
  • Costs will also be reduced by sales online, reducing the need for transport of goods.
  • The industry sector of candle manufacturing is on the rise and outsourcing of materials, marketing strategies, procurement, etc. will lower the costs overall, as well.

Customer Analysis

Demographic profile of target market.

Countryroad Candle Company will target residents within the Atlanta, Georgia region. This includes outlying communities and targets in the general Georgia area. They will target consumers in age from 12 years to 99 years. They will target those individuals who use candles as part of self-healing exercises or as naturopathic wellness support. They will target event planners and party coordinators. They will extensively target retail buyers and retail chain buyers to purchase quantities of candles at reasonable prices.

Customer Segmentation

Countryroad Candle Company will primarily target the following customer profiles:

  • Small to large retail buyers for gift stores, flower shops, large chains
  • Event planners and wedding coordinators
  • Disabled and elderly who use candles for wellness
  • Spas and med spas; natural health clinics

Competitive Analysis

Direct and indirect competitors.

Countryroad Candle Company will face competition from other companies with similar business profiles. A description of each competitor company is below.

Karlan’s Gift Supply

Karlan’s Gift Supply is a large wholesale company that supplies retail stores with products made in local or regional manufacturing companies. This is an indirect competitor to Countryroad Candle Company, as Karlan’s Gift Supply does not carry candles or candle accessories. However, the wholesale company does carry a variety of related gift products and is well-known for advantageous pricing.

Bridget Karlan started Karlan’s Gift Supply twenty years ago and has grown the company into a 2M wholesale business. She is frugal in purchasing her wares and she is rigid in demanding prices to cover her targeted profit margins of 55% and up. She has very wisely created a powerhouse wholesale supply company.

Glow & Co.

Glow & Co. is the former employer of Emily Reynolds and Sarah Thompson. As a direct competitor, Glow & Co. sells candle assortments and individual candles into the retail gift and specialty markets throughout the southern region of the U.S.

Glow & Co. is a ten-year-old company founded by Nick Parsons, the son of a candlemaker father who engaged his family of fifteen in the business with him. The father passed the company on to his son ten years ago and, during the ensuing time, the son changed the name of the company and expanded it exponentially by selling candles of all kinds in several configurations and pack sizes. All current offerings are imported from Asia and carry low price points as a result. There are no unique designs or fragrances in the current product line.

Hanson’s Tabletop Company

Hanson’s Tabletop Company is a high-end design company that sells multiple gift and houseware products into retail. The company does not manufacture candles, but acquires candles and all other products via importing. The company holds a design office in the large Atlanta Gift Market in downtown Atlanta and sells curated product lines to national chains in addition to local retailers who want to place small orders.

Hanson’s Tabletop Company sells a variety of candles and candle accessories. The company owners, Teri and Craig Walters, are enthusiastic about the trend-forward designs in candle manufacturing and rarely purchase standard candles in case packs. They purpose one-of-a-kind candles and hope their suppliers can fill any voids when designs become popular.

Competitive Advantage

Countryroad Candle Company will be able to offer the following advantages over their competition:

Marketing Plan

Brand & value proposition.

Countryroad Candle Company will offer the unique value proposition to its clientele:

  • Highly-qualified team of skilled employees who are able to provide a unique product line that is both decorative and fragrant to be sold into the retail market.
  • The team of employees will also offer a variety of packaging sizes and pricing that adjusts with quantity sizes.
  • Discounts for disabled and elderly customers who use candles for self-healthing or wellness.
  • Reasonable pricing for retail clients that enables everyone in any sized retail business to purchase on a regular basis with profitable outcomes.

Promotions Strategy

The promotions strategy for Countryroad Candle Company is as follows:

Word of Mouth/Referrals

Countryroad Candle Company has built up an extensive list of client contacts over the years by providing exceptional service and expertise to their former clients. With the announcement of the new company launching soon, these clients were approached and have agreed to purchase retail candle supplies from Countryroad Candle Company. The wide range of packaging plus the unique properties of the candles has encouraged buyers to make initial orders early.

Professional Associations and Networking

There are several professional associations which Emily Reynolds and Sarah Thompson have already joined. Their networking efforts will intensify with this new company and they will offer special packages for first-time buyers.

Print Advertising

Direct mail efforts will be employed in the two weeks prior to the launch. Every buyer will receive a promotional package announcing the launch of Countryroad Candle Company and will be offered special discounts for purchases made in the first month of the company.

Website/SEO Marketing

Countryroad Candle Company will utilize their website as an informational outlet and as a place for smaller retail establishments to order. The website will be well organized, informative, and list all their products and services that Countryroad Candle Company provides. The website will also list their contact information and list their available candles in stock or on hand. Their website presence will contain SEO marketing tactics; anytime someone types in the Google or Bing search engine “candle company selling to retail” or “candle company near me”, Countryroad Candle Company will be listed at the top of the search results.

The pricing of Countryroad Candle Company will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.

Operations Plan

The following will be the operations plan for Countryroad Candle Company. Operation Functions:

  • Emily Reynolds will be the Owner and President of the company. She will oversee all staff and manage new client relations. She has spent the last year recruiting the following staff:
  • Sarah Thompson will be the Production Manager of the company. She will curate, plan and oversee operations of the candle-making process at the company and will work with Emily Reynolds to effectively add decorative and fragrance elements to each candle design.
  • Tad Newsom will be the Production Facilities and Maintenance Manager, overseeing the maintenance and any needed repairs of the facility.
  • Shelia Abramson will be the Shipping Manager. As such, she will oversee the packing and shipping process as cartons and packages are prepared for shipment to retail.

Milestones:

Countryroad Candle Company will have the following milestones completed in the next six months.

  • 5/1/202X – Finalize contract to lease manufacturing and office space
  • 5/15/202X – Finalize personnel and staff employment contracts for the Countryroad Candle Company
  • 6/1/202X – Finalize buyer orders for Countryroad Candle Company
  • 6/15/202X – Begin networking at industry events
  • 6/22/202X – Begin moving into Countryroad Candle Company facility and office
  • 7/1/202X – Countryroad Candle Company opens its doors for business

Financial Plan

Key revenue & costs.

The revenue drivers for Countryroad Candle Company are the wholesale prices they will charge to the buyers for their products and services.

The cost drivers will be the overhead costs required in order to staff Countryroad Candle Company. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

Funding Requirements and Use of Funds

Countryroad Candle Company is seeking $200,000 in debt financing to launch its candle-making business. The funding will be dedicated toward securing the manufacturing facility and office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the marketing strategies and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Number of Purchase Orders Per Month: 56
  • Average Sales Revenue per Month: $53,000
  • Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, candle making business plan faqs, what is a candle making business plan.

A candle making business plan is a plan to start and/or grow your candle making business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Candle Making business plan using our Candle Making Business Plan Template here .

What are the Main Types of Candle Making Businesses? 

There are a number of different kinds of candle making businesses , some examples include: Scented Candles, Specialty Wax Candles, and Novelty Candles.

How Do You Get Funding for Your Candle Making Business Plan?

Candle Making businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Candle Making Business?

Starting a candle making business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Candle Making Business Plan - The first step in starting a business is to create a detailed candle making business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your candle making business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your candle making business is in compliance with local laws.

3. Register Your Candle Making Business - Once you have chosen a legal structure, the next step is to register your candle making business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your candle making business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Candle Making Equipment & Supplies - In order to start your candle making business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your candle making business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful candle making business:

  • How to Start a Candle Making Business
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How to Start a Candle Business: A Step-by-Step Guide

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We all like our homes to smell nice and to feel cozy. What better way to make this happen than by lighting some candles. Not only are they an affordable indulgence, but they also make great gifts and literally brighten any room.

If you’re considering starting a business and are passionate about wicks, soy blends, and mastering the perfect scent, then starting a candle business may be the perfect fit for you. Keep reading to learn how to start a candle business.

business plan of candle making

How to start a candle business in 7 steps

Starting a candle business is a lot of work, but can also be very rewarding. Before you let your excitement take the lead, pause and consider following some of these steps first. To give your candle business the best shot at success, you’ll need to get all of your financial, legal, and marketing ducks in a row.

Step 1: Perfect your craft

When a candle is good, it can help you destress, add a decorative flair, or set the mood. But when a candle is bad, it can be a disaster. A candle can smell too sweet. Too floral. Too smoky. Or, the scent can be so weak it winds up smelling like nothing at all. Essentially, it’s easy to step too far in one direction and make a candle that no one wants to burn. Before you go through the process of starting a candle business, you’ll want to brush up on the basics of how to make a good candle and develop a few signature scents. You’ll need to master how to ensure a good burn time, how to make a scent that permeates a room, and how to create a scent that people will love.

You’ll also want to define what will make your candle line stand out. Will each candle be inspired by a different exotic location? Will you use really unique glassware to house your candles? Will you have witty names that make your candles perfect for gifting? A good scent and an affordable price point will get you far in the candle game, but you’ll also need to make sure there is a way for your brand to stand out in a very saturated market.

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Step 2: Create a business plan

Making candles is a creative process. Not to mention fun. Which is why it may be hard to tear yourself away from your experimenting to write a business plan. But writing a business plan is a creative endeavor too. And a little bit analytical. So put both sides of your brain to work, because the process of creating a business plan will prove invaluable to you throughout the life of your business.

A good business plan will contain several sections that can help keep your business on the right path as well as show your value to any potential investors or lenders. Ideally, you’ll do this step before starting a business, but it’s never too late to whip one up. Having a business plan will make the process of growing your business so much easier and can help you introduce the important details of your candle business to others. If you’re nervous about creating a business plan from scratch, consider using a business plan template or business plan software that can help you through the process.

Choose a business name

If you haven’t already chosen your business name, doing so while you’re in the process of pulling together your business plan is a good idea. Try to come up with a catchy business name that will stay in customers’ minds while also describing what kind of business you run. Of course, you’ll want to double check that your chosen name is actually available before moving forward with it. Confirm your desired name’s availability with your secretary of state’s website to see if your chosen business name is currently in use. Doing a simple Google and trademark search can also be helpful. If your desired name is free and clear, make sure you reserve your domain name and social media handles before someone else grabs them.

Choose a business entity

Another benefit of writing a business plan is that it will encourage you to choose a legal structure for your business. Choosing the right business entity is very important and a decision that should not be taken lightly. A few common forms of business entities are sole proprietorship, general partnership, limited liability company (LLC), and corporation.

If you’re struggling to decide what type of business structure you should choose, consulting a business attorney or tax expert can help. The extra expense may save you a lot of stress down the line, as the type of business structure you choose will affect your taxes, risk level, and other important factors. After you’ve chosen your business entity, you will register your candle business with the necessary federal and state agencies.

Define your products and services

Are you planning on selling candles? How about essential oils or reed diffusers? Will you take custom candle orders? You’ll need to define exactly what types of products or services your business will offer. Ask yourself the following questions in order to better understand what your products and services will be.

What type of scent-based products will you sell?

What will you charge for them?

Where will you purchase your candle supplies?

How much will these supplies cost?

How much will production cost?

Now that you have a business plan, you can use it moving forward to help guide your candle business.

Step 3: Get the proper licenses, permits, and insurance

This may not be the most fun step in the road to starting a candle business, but it is an important one. When you start a business, you’ll have to ensure you’re obtaining the proper licenses, permits, and insurance required by your local and federal government. These requirements will vary based on your location, business type, and chosen business structure. Chances are, you’ll require multiple business licenses at the state, federal, and local level. If you need help getting started, the SBA is a great resource, as is your local chamber of commerce.

Does your business require employees to help it run? Then you’ll need to obtain your employer identification number (EIN), which is required for tax purposes. Even if you don’t plan on hiring soon, there are some pretty valuable benefits of getting an EIN you should think about.

Something else worth looking into is business insurance , especially if you’ve hired employees. In that case, you may need to carry workers compensation, unemployment, or disability insurance. General liability and commercial property insurance may also be necessary. You should check with a business lawyer to make sure you have the right coverage for your business—especially when you consider the fact that as an owner of a candle business, you’ll be working with flammable materials. Do your due diligence and research your local fire codes and speak with your insurance representative about your fire coverage needs.

Step 4: Decide where to sell your goods

Where are you planning to sell your candles? How about online, in a boutique, or at your local farmers market? You can always open your own storefront, but maybe you want to start small at first and sell your candles to local boutique owners. Consider all the options available to you and don’t be afraid to start small while you build brand loyalty and get customer feedback.

If you want to sell online, but aren’t ready to launch your own ecommerce website, you can always sell your candles on a digital marketplace like Amazon or Etsy . There are countless helpful ecommerce platforms you can choose from, so take your time investigating which is the best fit for your business.

Step 5: Find small business funding

It’s a cliché, but sometimes it takes money to make money, and starting a candle business is no exception. In order to pay for supplies, marketing, production, insurance, legal council, and more, you’ll may need some sort of business funding. Start by considering the following funding options.

Business lines of credit : A more flexible form of credit than a standard business loan, a business line of credit provides you with a set amount of money that you can choose to draw from only when you need it.

Business credit cards: Newer business owners may be better off with a business credit card , as they require less credit history than a loan. Generally, you can find a 0% intro APR credit card, which is like having an interest-free loan if you pay off your balance before the introductory offer is over and a variable APR sets in.

Equipment financing: If your business requires expensive equipment, then equipment financing may be your best option. Generally for this type of financing, a lender loans money specifically to purchase equipment. They then use this equipment as collateral for the loan.

Startup funding: A brand-new business owner should consider startup financing options such as SBA microloans or a business grant . Crowdfunding has also become a popular option for easy startup funding.

Once you obtain your funding or begin to rack up expenses or earn income, you should take steps to keep your business and personal finances separate from each other. Then, consider finding an accounting software program to manage your business’s financials.

Step 6: Find and manage candle supplies

At first, you may be able to just pop over to your local craft supply store to get some wax and scents for your candles. But once your business begins to grow, you’ll save a lot of money by buying supplies in bulk from a wholesale supplier. You’ll want to start sourcing affordable supplies straight away so you can test for quality and find the right supplier for you. Some candle making supplies you might need are:

Wax such as paraffin, gel, soy, beeswax, or another type

Containers for candles

Fragrances such as essential oils

Coloring agents

Shipping and packaging supplies

Before you place any large orders, you should plan out how much inventory you will need and how you will manage it. Not only will doing so make finding suppliers easier, but you can begin to form a reliable inventory system. You may want to consider using an inventory management app to organize the comings and goings of your candle making supplies.

Step 7: Start marketing your candles

Once you’ve chosen your business name and started to develop your brand, you can market your business. Word of mouth is ideal, but you can’t rely on it. This is why having a well thought out marketing plan will come in handy. You’ll want to start by thinking of what your candle’s selling points are. Do they last longer than others? Smell stronger? Are they made from more sustainable ingredients? Identify what your main selling point is and how you can best present that message to potential customers.

Social media is a free, fun, and easy place to start. You might want to identify which channels would be best for your business and begin to build a presence on them. Email marketing is also an affordable option worth considering. The best part about social media and email marketing is that your customers choose to sign up for your advertisements. You have a captive audience, so take advantage of that fact.

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The bottom line

If you really want to take your candle business to the next level, the steps above can help you pair your passion for candles with a solid plan for execution. The end reward could be a candle business that offers profit and creative joy for years to come.

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Candle Making

Back to All Business Ideas

How to Start a Candle Making Business

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on October 29, 2021 Updated on February 14, 2024

How to Start a Candle Making Business

Investment range

$1,040 - $1,680

Revenue potential

$60,000 - $180,000 p.a.

Time to build

0 - 3 months

Profit potential

$30,000 - $72,000 p.a.

Industry trend

If you have a passion for candles, their design, scent,  and feel, then starting a candle-making business could be in the cards for you. Candles can add a bit of romance or give a room a more natural glow — and they make for great gifts at an affordable price. Homemade candles, in particular, feel like they’ve been crafted from the warmth of the heart.

But of course, starting your candle business will take preparation and work. With this step-by-step guide, we provide all the information you need to develop and launch your business while avoiding common missteps.

Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.

Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .

Step 1: Decide if the Business Is Right for You

Pros and cons.

Every business has its pros and cons, and it’s a good idea to weigh these factors to decide if starting a candle business is a good fit.

  • Flexible – Set your own schedule and work when you want.
  • Rewarding work – Chasing your passion, expressing your creativity in candles.
  • Simple business model – Make and sell candles — not complicated.
  • Minimal startup costs – Few materials needed; sell online.
  • Good money & scalability – With low costs, profits can be strong; grow as you wish.
  • Heavy competition – Due to the low barriers to entry, there are many custom candle makers out there that you will have to compete against.
  • May need a supplier – In order to effectively grow your business, you may need to pair with a supplier, which will decrease your autonomy.
  • Repetitive work with no safety net – You’ll receive no salary for your candle-making; earnings will rely on you churning out candles.
  • Difficult to build customer trust and loyalty – With no face-to-face interactions, your candle website may have a hard time building a loyal customer base.

Candle industry trends

Increased demand for home decor products has helped expand and broaden the candle-making market in recent years. Today’s custom-made marketplace offers innovative scents, multiple colors, organic ingredients, and a wide variety of shapes and sizes. One inventive maker even sells a candle shaped like a hand, with wicks on the end of each finger! The price? A cool $65.(( https://www.uncommongoods.com/product/light-my-fingers-candle ))

These days, pumpkin candles do well in the fall, peppermint in winter, and citrus in the summer. The candle industry has grown alongside the spa and yoga studio market .

Industry size and growth

  • Industry size and past growth – Candle manufacturing in the US, valued at $1.7 billion, is starting to recover from the pandemic slump.(( https://www.ibisworld.com/industry-statistics/market-size/candle-manufacturing-united-states/ )) 
  • Growth forecast – As of 2021, business intelligence advisory Verified Market Research expects the global candle industry to grow 8% annually through 2028.(( https://www.verifiedmarketresearch.com/product/candle-market/ )) 
  • Number of businesses – There are 456 candle manufacturing businesses in the US.(( https://www.ibisworld.com/industry-statistics/number-of-businesses/candle-manufacturing-united-states/ ))
  • Number of people employed – The industry employs almost 5,000 people.(( https://www.ibisworld.com/industry-statistics/employment/candle-manufacturing-united-states/ ))

candle industry size and growth

Trends and challenges

Trends in the candle industry include:

  • Increasing consumer preference for personalized candles
  • Great interest in wooden wicks
  • Rapid growth of ecommerce

Challenges in the candle industry include:

  • Labor shortage
  • Environmental concerns

candle industry Trends and Challenges

What kind of people work in a candle business?

  • Gender – 65% of candle makers in the US are female, while 35% are male.(( https://www.zippia.com/candle-maker-jobs/demographics/#gender-statistics ))
  • Average level of education – 44% of candle makers have a high school diploma.(( https://www.zippia.com/candle-maker-jobs/demographics/#degree-level-types ))
  • Average age – The average age of a candle maker is 44 years old.(( https://www.zippia.com/candle-maker-jobs/demographics/#age-statistics ))

candle industry demographics

How much does it cost to start a candle business?

The startup costs for a candle business depend almost entirely on your starting inventory, which is the largest cost. In general, to get you started in a modest capacity, startup costs will range from about $1,000 to nearly $1,700.

You will need several different items to launch your candle business, including special equipment you’ll need to purchase. Websites like Candle Science , Candles and Supplies , and CandleWic offer a comprehensive selection of candle-making equipment. Here is a list to get you started:

  • Aluminum melting pitcher
  • Aluminum pouring pot
  • Glass thermometer
  • Wick bars and holders
  • Molds, wax, wicks
  • Fragrance materials
  • Measuring cup(s)
  • Clothespins

How much can you earn from a candle business?

Candles can be made for a relatively low cost and sold at a high margin, from 30% all the way to 75% in net margin. The total potential earnings for a candle business depend on your level of production. For example, if you’re selling candles at $10 each and they cost you $5 to make, then you make $5 for each sale and your gross profit margin is 50%. 

In your first year or two, you could work from home and sell 500 candles a month, bringing in $60,000 in annual revenue. This would mean $30,000 in profit, assuming that 50% margin. As your brand gains recognition, sales could climb to 1,500 candles a month. At this stage, you’d rent a storefront and hire staff, reducing your profit margin to around 40%. With annual revenue of $180,000, you’d make a tidy profit of $72,000.

Candleers, a candle-making advisory, estimates that the average candle maker earns $50,000 per year , with the bottom 10% making less than $25,000 and the top 10% checking in at more than $100,000. Simply put, annual earnings will depend on how many candles you are selling and at what price point you are selling them.

Ultimately, your candle business’ earnings will be heavily dependent on the cost of inventory and the cost of making the candles. Your per candle price should be determined by your costs and how much you hope to earn from each sale. Candle-making has relatively low fixed costs, so this ratio will be among the most important aspects of your business.

To find the right price, research the prices of your closest competition.

candle business earnings forecast

What barriers to entry are there?

  • Knowledge of candle-making – Basic barrier for any candle maker. While not the most difficult process in the world, learning candle-making requires time and focus.
  • Access to top suppliers – The most successful candle makers typically secure relationships with top suppliers such as Amazon, Etsy, Shopify, and others.
  • Designs must be up-to-date – Candle makers need to keep up with the latest customer desires for new scents, shapes, and styles.
  • More than a full-time job – A candle maker’s earnings depend on the amount of time and energy they are willing to devote to the work.

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Step 2: hone your idea.

Now that you know what’s involved in starting a candle business, it’s a good idea to hone your concept in preparation to enter a competitive market. 

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

The first thing an aspiring candle business owner should do is assess their skills and knowledge about candles in relation to the larger market. You can find good opportunities with some simple research into the most popular candles and their makers. Try to answer questions like: What are the most popular candle websites and what are their bestselling products? Which price points are most appealing? At which cost could you produce the same candles, and what materials would you need to do so?

Your business brand will be determined as a result of your research and the market opportunity you choose to target with your candle creations. You might go in for wildly shaped or exotically scented niche-market candles, or go for a mass market product. The choice is entirely up to you!

What? Determine your products

Make a list of all of the candles you might like to make. Some of the popular candle types, each appealing to different segments of buyers, include but are not limited to:

  • Scented and aromatherapy candles
  • Twisted and other sculpted candles
  • Decorative and other artistic candles
  • Vegan candles
  • Soy candles
  • Odor-eliminating candles
  • Bug repellant candles
  • Long-lasting candles

Each candle could require different ingredients and a different process of creation. You should consider which type of candles you’d like to define your brand. This will determine your material needs, production schedule, and marketing.

How much should you charge for your candles?

Most homemade candles you’ll find online are priced in the $15 to $30 range. Specialty candles that provide a special scent or artistic design will of course be more expensive than straightforward candles of traditional shape and size.

You should price your candles based on your costs and your profit expectations informed by market norms. It’s best to do a good deal of market research before settling on your price points.

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Different candle types will be popular for different market segments, and at different times of the year. As noted above, citrus and fruit-scented candles will be popular in the warmer months, while mint-scented candles will do better in winter.

business plan of candle making

Women tend to be bigger candle buyers than men, and homeowners buy more than renters.

Spas and yoga centers, restaurants, retailers, and other small businesses that rely on candles to create a certain ambiance will also be in your target market.

Depending on the type of candle you produce, some will meet the desires of a specific customer – such as eco-friendly, vegan candles, or highly decorative candles. And keep in mind, the more original and exotic your niche, the more you may be able to charge!

Where? Choose your business premises

In the early stages, you may want to run your business from home to keep costs low. But as your business grows, you’ll likely need to hire workers for various roles and may need to rent out a storefront. You can find commercial space to rent in your area on sites such as Cra igslist , Crexi , and Instant Offices .

When choosing a commercial space, you may want to follow these rules of thumb:

  • Central location accessible via public transport
  • Ventilated and spacious, with good natural light
  • Flexible lease that can be extended as your business grows
  • Ready-to-use space with no major renovations or repairs needed

candle business idea rating

Step 3: Brainstorm a Candle Business Name

Your business name is your business identity, so choose one that encapsulates your objectives, services, and mission in just a few words. You probably want a name that’s short and easy to remember, since much of your business, and your initial business in particular, will come from word-of-mouth referrals.

Here are some ideas for brainstorming your business name:

  • Short, unique, and catchy names tend to stand out
  • Names that are easy to say and spell tend to do better
  • The name should be relevant to your product or service offerings
  • Ask around — family, friends, colleagues, social media — for suggestions
  • Including keywords in the name, such as “candle” or “wax”, boosts SEO
  • Choose a name that allows for expansion: “Bright Flame Candles” rather than “Aromatherapy Candles”
  • Avoid location-based names that might hinder future expansion

Discover over 410 unique candle business name ideas here . If you want your business name to include specific keywords, you can also use our candle business name generator. Just type in a few keywords and hit “generate” and you’ll have dozens of suggestions at your fingertips.

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Candle Making Business Plan

Every business needs a plan, a rough outline that helps guide a startup through the launch process while maintaining focus on key goals. A business plan is also crucial for helping potential partners and investors understand your company and vision:

  • Executive Summary: A brief overview of the candle making business, highlighting its mission, goals, and key points for potential investors or partners.
  • Business Overview: A detailed description of the candle making business, including its history, mission, vision, and legal structure.
  • Product and Services: Clear delineation of the types of candles offered, their unique features, and any additional services, like customization or fragrance options.
  • Market Analysis: Examination of the candle market, identifying target demographics, trends, and potential growth areas for the business.
  • Competitive Analysis: Assessment of other candle makers in the market, highlighting strengths, weaknesses, opportunities, and threats to the business.
  • Sales and Marketing: Strategies for promoting and selling candles, encompassing pricing, distribution channels, and promotional activities.
  • Management Team: Introduction of key individuals involved in the candle making business, emphasizing their relevant skills and experience.
  • Operations Plan: Detailed explanation of the day-to-day operations, including the production process, sourcing materials, and quality control measures.
  • Financial Plan: Overview of the financial aspects of the business, encompassing startup costs, revenue projections, and budgeting for ongoing operations.
  • Appendix: Supplementary materials such as detailed financial statements, market research data, or any other supporting documents.

what to include in a business plan

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — a prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s done, you have your own business!

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you are planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to candle making. 

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state. 

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your candle business will shape your taxes, personal liability, and business registration requirements, so choose wisely.

Here are the main options:

  • Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
  • General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
  • Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
  • C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
  • S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

types of business structures

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

Form Your LLC

Choose Your State

We recommend ZenBusiness as the Best LLC Service for 2023

business plan of candle making

Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate on a calendar year (January–December), or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

business plan of candle making

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you are completing them correctly.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital:

  • Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
  • SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
  • Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
  • Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
  • Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
  • Personal: Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best options, other than friends and family, for funding a candle business. You might also try crowdfunding if you have an innovative concept. 

types of business financing

Step 8: Apply for Candle Making Business Licenses and Permits

Starting a candle business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your candle  business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account. 

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

  • General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
  • Business Property: Provides coverage for your equipment and supplies.
  • Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
  • Worker’s compensation: Provides compensation to employees injured on the job.
  • Property: Covers your physical space, whether it is a cart, storefront, or office.
  • Commercial auto: Protection for your company-owned vehicle.
  • Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
  • Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.

types of business insurance

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business. 

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.  

You may want to use industry-specific software, such as Craftybase to track material and product stock, log expenses, and update pricing. You can also use NetSuite Commerce to manage your online and in-store transactions.

  • Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero . 
  • If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using website builders . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

For your candle making business, a marketing strategy should illuminate the unique qualities of your products, from their aesthetic appeal to their aromatic scents. It’s about creating a brand glow that attracts customers seeking ambiance, quality, and a personal touch. Here are some powerful marketing strategies for your future business:

Digital Presence and Online Marketing

  • Social Media: Utilize Instagram, Pinterest, and Etsy to showcase your candles’ unique designs and share stories about the inspiration behind each scent and collection.
  • E-commerce SEO: Ensure your online store appears in search results for those looking for handcrafted or specialty candles.
  • Engaging Online Experience: Design an interactive website that allows customers to view candle collections, read about the candle making process, and purchase easily.

Kickstart Marketing

  • Branding and Packaging: Ensure your candles and packaging stand out with a distinctive and elegant design that reflects the quality of your products.
  • Introductory Offers: Entice new customers with special offers, such as discounts on their first purchase or bundle deals.
  • Email Newsletters: Keep your customers engaged with updates on new scents, behind-the-scenes looks at the candle making process, and exclusive offers.

Content Marketing and Engagement

  • Candle Care Blog: Share posts on how to care for candles, the benefits of different waxes and scents, and the art behind candle making.
  • Customer Spotlights: Feature customer reviews and photos of your candles in their homes, building a community around your brand.

Experiential and In-Person Engagements

  • Candle Making Workshops: Host workshops where customers can create their own candles, offering a memorable brand experience.
  • Pop-Up Shops: Set up pop-up shops at markets, fairs, and events to reach new customers and allow them to experience your candles firsthand.

Collaborations and Community

  • Local Business Partnerships: Partner with local businesses such as spas, boutiques, and cafes to carry your candles and offer co-branded lines.
  • Community Classes and Events: Offer to lead candle making sessions at community centers or local events, showcasing your expertise and products.

Customer Relationship and Loyalty Programs

  • Loyalty Rewards Program: Implement a program that offers discounts or freebies to repeat customers.
  • Referral Discounts: Encourage customers to refer friends with a discount on their next purchase for every new customer they bring in.

Promotions and Advertising

  • Seasonal Advertising Campaigns: Strategically advertise your candles during peak seasons such as holidays or special occasions like weddings.
  • Influencer Collaborations: Partner with lifestyle influencers to feature your candles, tapping into their audience and credibility.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that sets it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your candle business meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire. 

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your candle business could be:

  • Regional or seasonal scents
  • Twisted and unusual designs
  • Aromatherapy candles
  • Eco-friendly and vegan candles
  • Visually satisfying online store with a customizable selection
  • Lifestyle and decor recommendations with every candle order
  • Branded Pinterest posts detailing candle ideas
  • Reusable candles

unique selling proposition

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a candle business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been making candles for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in candles. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business.

Step 12: Build Your Team

You may not need any employees if you are starting out small from a home-based office. But as your business grows, you will likely need workers to fill various job roles. The potential employees for a candle business include:

  • Candle Maker
  • Label Maker
  • Packer and Shipper
  • Marketing Strategist
  • IT Specialist for your website 

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need. 

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent. 

Step 13: Run a Candle Business – Start Making Money!

Scented candles are widely thought to melt stress, induce or improve sleep, provide therapeutic care, and more. That’s why candle making is a nearly $2 billion market in the US and remains one of the top business ideas globally. Now that you have all the information you need to start a candle business, it’s time to take the first step in your entrepreneurial journey. 

If you do proper research to better understand what your target market needs and craft a brilliant marketing strategy, you can light your way to success and start making a great profit!

  • Candle Business FAQs

Generally, a candle should be used within 12-15 months of buying it. For best results, while not in use they should be stored in a cool, dry place. Once in use, a typical homemade candle should burn strong for about as many hours as inches of length. For example, a 4-inch candle will burn for about 4 hours. Different materials and wicks will result in different candle burn durations.

Since candles can be fragile, it is best to package them in durable boxes and fill the interior with tissue paper or bubble wrap to cushion them during transit. For certain candles and climates, you may want to include frozen gel packets within the box to prevent any melting. See this guide from Paper Mart for some more tips and tricks on candle shipping.

Yes, scented and unscented candles – using the appropriate materials – are safe for use. Both synthesized and natural scents have been widely tested and deemed safe. Wicks and wax sold by candle makers and suppliers are also safe, as they must be approved by the relevant regulatory agencies. For more info on candle safety, consult this comprehensive FAQ from the National Candle Association.

No, insurance is not required to sell candles in the US. However, many candle makers buy liability insurance to help shield against any potential legal action. Ultimately, candles deal with fire, so there always liability concerns for sellers. The Armatage Candle Company provides a useful guide on candle maker insurance.

Candle making can be a profitable business, but success depends on various factors such as market demand, product quality, pricing, marketing, and effective business management. If you sell online, you’ll have to spend some money on digital marketing to get traffic to your site.

Starting and running a candle business can have its challenges, including sourcing quality materials, developing unique scents and designs, managing inventory and production, marketing and competition, and maintaining consistent quality.

Some popular candle categories include scented candles, soy candles, natural or organic candles, decorative or artisanal candles, and seasonal or themed candles. 

Yes, essential oils can be used in candle making. They are commonly used to add fragrance to candles and provide a natural scent experience. However, it’s important to use essential oils that are suitable for candle making and follow proper guidelines for their safe and effective use. The recommended usage rate for essential oils in candles is typically around 5-10% of the total wax weight.

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  • Decide if the Business Is Right for You
  • Hone Your Idea
  • Brainstorm a Candle Business Name
  • Create a Candle Making Business Plan
  • Register Your Business
  • Register for Taxes
  • Fund your Business
  • Apply for Candle Making Business Licenses and Permits
  • Open a Business Bank Account
  • Get Business Insurance
  • Prepare to Launch
  • Build Your Team
  • Run a Candle Business - Start Making Money!

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How to Start a $200K/Year Candle Business

  • 2 years ago

Ever wondered how hard it would be to start a candle business? We’ll show you how.

Jazmin Richards started her candle business, Blk Sunflower , with $110 after she lost her job and has made $300,000 in 18 months creating and selling her own candles, apparel, and accessories. This is the kind of creativity and motivation we love seeing!

We’re going to share her strategies with you so you can start a candle business and create a bright future too. We’ll give you all the info to start a candle business, create candles, and sell them on Shopify .

Step 1: Develop your candle making skills

Before you can start selling candles, you need to know how to make them. Jazmin explained what you’ll need and how to accomplish it in our interview. Let’s look at what you’ll need to get started.

Acquire tools and materials for candle making

Good tools and supplies can make the job more fun and more efficient. Jazmin let us know what you’ll need. She told us:

You’ll need:

  • 10 lbs of wax
  • Pouring pitcher
  • A pot to put the pitcher in to create a double boiler
  • Thermometer
  • Containers to hold the candles
  • Scented fragrances

Material costs for candle makers

Jazmin told us you’ll need about $100 to get started, and you can buy everything you need on Amazon. She likes to mix multiple scents to create unique scents.

How to make candles

Jazmin gave the following instructions to make candles:

  • Fill a larger pot with water, and the pouring pitcher with wax flakes.
  • Hang the pouring pitcher where it is on the inside of the larger pot to effectively create a double boiler.
  • Wait for the wax to melt which will normally take 45 minutes to an hour depending on the temperature.
  • Pour 9 ounces into each container
  • Add scents and a wick.

Jazmin told us:

Watch the interview below:

After the candle has dried, you have to pack it so it’s ready to ship when a customer orders. Jazmin’s packaging looks like the picture below. Decorative packaging gives it a more prestigious look and commands a higher price.

 You can hire packaging designers on 99 Designs or through other similar sources. In fact, most print companies will be able to print the packaging for you, but make sure to specify what materials you will be printing on when requesting quotes.

If candlemaking doesn’t sound right for you, check out our courses to learn how to start a business.

Step 2: Ideas for a candle making business

Candle makers primarily target women as they love good-smelling spaces, but according to the National Candle Association (NCA), both men and women consider candles appropriate gifts. They say the most common times people buy candles are:

  • During the holiday shopping season, which is when 35% of sales occur
  • Housewarming gifts
  • Gifts at dinner parties
  • With a thank you note
  • For adult birthdays

There are a variety of styles of candles, but the main types are

  • Tea light candles
  • Container candles
  • Birthday candles
  • Liquid candles
  • Insect repellant candles
  • Flameless candles

Read more about the different types of candles on Styles at Life . Keep reading to learn more about the major candle makers.

Who are the major candle makers?

It’s helpful to know who the major candle makers are because you can look for gaps in the industry by looking at their sites. The major candle makers include:

  • Yankee Candle (Newell Brands)
  • Luminex Home Décor and Fragrance Holding Corporation
  • MVP Group International, Inc
  • Universal Candle
  • Qingdao Kingking Applied Chemistry Co., LTD
  • Empire Candle Co., LLC
  • Hyfusin Group Holdings Limited
  • Dandong Everlight Candle Industry Co., Ltd.
  • Fushun Pingtian Wax Products Co., Ltd.

While the major players in the industry get most of the revenue, there is always room for new entrants to make a great living selling candles.

What is the industry outlook?

According to Precision Reports , the global candle market was $5,859.1 million in 2019 and is expected to grow to $8,493.3 million by 2026. That’s a CAGR of 5.5%.

That means anyone who wants to start a candle making business will be able to sell candles if they put in the effort to develop their skills and start a candle business. Keep reading to learn how to identify the target market when starting your own candle business.

Step 3: Identify the ideal target market

If you want to start your own business selling scented candles, paraffin wax candles, or any type of candle, you’ll want to decide who might purchase them and where you’ll sell them. This requires identifying who your target audience is.

You’ll want to identify the personal characteristics of your target market including:

Age and Gender: Candles tend to be marketed primarily to women over 18, but some men buy them as well. Marketing to children could create a liability because kids aren’t always smart about what they do and candles can create fires.

Their interests

Where they shop : Hint 18.7% of 2020 retail spending was at Amazon and Walmart so anyone considering candle making may want to get listed with their online stores. If you can meet the demand for in-store sales at Walmart, go for it, but you may want to get established before you do that.

Which advertising platforms are best to reach your audience:

  • Teens : Tiktok
  • 20s and early 30s : Instagram
  • mid 30s+ : Facebook
  • All ages : Google
  • Wealthy and older generations : Trade publications, investment periodicals, TV

You’ll use the information you gather about who buys homemade candles to drive the marketing strategy and other decisions for your homemade candle business plan.

Step 4: Create a candle business plan

Every business should have a workable plan to help guide decisions. When writing a candle selling business plan, you’ll want to include the following:

  • Business Plan Cover Page
  • Table of Contents
  • Executive Summary
  • Company Description
  • Description of Products and Services
  • Marketing Plan
  • Strengths, Weaknesses, Opportunities, Threats (SWOT) Analysis
  • Competitor Data
  • Competitive Analysis
  • Marketing Expenses Strategy 
  • Pricing Strategy
  • Distribution Channel Assessment
  • Operational Plan
  • Management and Organizational Strategy
  • Financial Statements and/or Financial Projections

I’m not going to go into all the steps here, but check out our blog about how to write a business plan .

The biggest thing to remember about writing a business plan is it should be easy to understand, well documented, and as short as possible.

Challenges you may face as a candle making business owner

There are several challenges anyone wondering how to start a candle business from home, or anywhere else, will face. The most common challenges are:

Supply chain issues. Jazmin told us:

Changes in customer behavior. Jazmin told us:

Keep reading for a candle making business plan template.

Business plan template

Download our free business plan template and work through it while watching the video below.

Alternatively, you can try one of these templates:

  • One-page business plan template
  • Template for a plan generator by state
  • SBA guide with three templates

The next step in how to start your own candle business is picking a small business name. Let’s discuss that now.

Step 5: Pick a candle business name

There are several key components that go into the creation of a good candle making business name. Some of the primary considerations of picking a business name include:

  • Does the name explain the products your candle business makes?
  • Does the name hint at the business location?
  • Does the name make the business easy to remember?
  • Is the business name easy to spell?

We’ll look at how questions can impact the success of a candle small business.

When picking your candle business name, make sure it clearly states what your business does but avoid being too specific. If Jazmin had named the company Blk Tealight Candles it would have been too narrow. You might want to include the word “candles.”

In the case of Blk Sunflower, the name came from her being in a dark spot when she decided it was now or never. The candle business helped her grow like a sunflower and the symbolism is beautiful. In this case, I think she made a good decision avoiding the word “candle” because she shows a desire to branch out into other categories under the Blk Sunflower brand.

If you don’t share the desire to branch into other categories, it makes sense to include the word candle in the company name. Keep reading for other candle business tips for naming.

Keep it Simple

Pick a name that is as short and simple as possible. Blk Sunflower definitely meets this one. It’s simple and easy to remember. If it’s too complicated people won’t be able to search it.

Jazmin might have issues with some people trying to spell out the word black because she doesn’t own the domain blacksunflower.com. We’ll discuss this more under the section about domains.

Stay True to Yourself

When starting a private label candle business, make sure the name represents the heart and soul of your company and aligns with the brand you’re trying to cultivate. Based on our interview, it sounds like the name truly represents Jazmin.

Keep reading to learn how domains impact the name you choose when starting a candle business.

Register a Domain

When registering a domain name for your candle making business, always go for a .com. GoDaddy is a great resource for registering a .com domain name quickly and easily.

Jazmin’s business name runs into an issue with this one because she uses an alternative spelling of black and if people go to blacksunflower.com, they will be going to a page about Peter Sempel.

We typically suggest checking this before naming your own candle business because we want to avoid challenges like conflicting names.

Once you’ve decided on your business name, registered a domain, and run it by those who will be honest with you, register it with the government. The SBA provides a useful guide for how to do this.

Step 6: Create a Legal Structure for Small Business Candles

No guide about how to start a candle business is complete without explaining the legal structure that will need to be set up. The legal structure includes forming the business and obtaining any licenses, permits, and insurance you’ll need.

Let’s look at how to make a candle business a legal entity next.

Develop a Legal Structure

There are four primary legal structures that you might set up when wondering how to start a candle making business:

  • Limited liability company : Form the business with your state’s Secretary of State office by submitting a name, articles of organization, operating agreement, and the submittal fees. They protect you from personal liability as long as you keep personal and business expenses separate. Can be taxed like a sole proprietorship, corporation, or partnership.
  • Sole proprietorship : Run the business under your social security number and pay on your personal tax return. Some states allow free ones. You assume personal liability. Stay away from these if selling candles cause they can burn houses down.
  • Corporation : File for incorporation status with your state and obtain an EIN . You’ll have to pay taxes on both a corporate and personal level, but you can avoid dual taxation by offering great benefits or keeping the money in the company.
  • Partnerships : Like a sole proprietorship, but for 2 or more people.

Read our hub article on how to form a business to learn about more business structure formation.

As you prepare your business structure, concepts like other business licenses, permits, and insurance will also need your thought. Let’s take a look at some of those now.

Obtain Business Licenses, Permits, Tax Forms, and Insurance

Depending on your location, you may need a business license, seller’s permit, and business insurance to run your candle making business. Check with your local Small Business Administration office or your Secretary of State to establish the requirements in your location.

A knowledgeable tax advisor is also a good person to have on hand. Who you choose might depend on where you live or how wide you plan to spread your business, but be sure to choose someone you can trust.

Let’s look at what a candle making business will need in terms of funding to be able to make money consistently.

Step 7: Fund your candle business

You’ve learned how to make candles, name a candle making business, and get the business licenses for your business venture as well as the industry, but you’ll also need funding when entering the candle making industry. Let’s look at budgeting for a candle making business.

Budgeting for candle businesses will require thinking about the costs associated with creating the candles, packaging supplies, marketing costs, shipping, and selling online.

As we’ve already stated, the costs of buying candle wax and fragrance oils are relatively inexpensive. Jazmin started selling online for less than $100, but small business owners should be prepared to respond if they meet supply chain challenges.

To overcome supply chain issues you may have to order much larger volumes and/or pay higher priority prices. Jazmin told us:

You may receive quantity discounts for ordering in bulk.

While you can start small, new business owners might have to choose between:

  • Ordering much more frequently and paying retail prices
  • Ordering 10x as much as you need to get wholesale prices and keep inventory in stock.

Either way, it will reduce the profit margins until the global supply chain issues get corrected.

You’ll need your own e-commerce site, which you can get for under $30/month on Shopify . Jazmin says she uses Shopify to manage all her needs for online sales. If you’ve never set up an e-commerce store before, check out our blog on how to build a website .

In addition, you’ll either need to pay for shipping for each item or a fulfillment center. Jazmin recommends paying for a fulfillment center because it improves the speed of service and makes it easier for small businesses to get repeat customers.

So when researching how to start a candle business, you might plan to cover the following costs during the first year:

  • Materials: $10,000 (This should cover 2,000-3,000 candles based on 9 oz candles)
  • Business Formation/ Licensing costs, Insurance: $1,000
  • Website and other tech: $500-$1,000
  • Fulfillment/Shipping at $8-10/candle sold : $16,000-24,000

That means you should expect it to cost somewhere between $30k-40K to make $108,000. Notice that the shipping costs are as much as the candles cost. If you are able to sell them locally you’ll have much higher profit margins.

Keep reading for budgeting resources that successful businesses use to manage candle sales and business expenses.

Budgeting resources

Making candles can be highly profitable, but given any supply chain issues, you may need to buy in bulk to meet the demand of potential customers. To do that you’ll need some budgeting resources including a business bank account, business debit or credit card, and software to manage inventory and finances.

Business bank accounts and credit cards

Start off by opening a business bank account and business credit card(s). We recommend LendingClub or Novo if you are comfortable with online banks, local credit unions if you plan on operating locally, and Business Advantage from Bank of America if you plan to operate in many states.

If you are using Shopify, they have an option to open a business account directly through them. It’s quick and easy and they do give you a virtual card to use so it’s not critical to have the physical card.

These types of accounts should only be used for the expenses of small businesses. They are to make it easier to manage small businesses and could destroy the liability protection of LLCs and C-corps if you use them for personal finances.

Software for inventory and finances

Most businesses will need software to manage their inventory and finances. Jazmin finds it really easy to manage everything because she does it directly through Shopify, but if you want to use other providers here are some of the most useful software offerings:

Accounting software

  • Quickbooks is familiar to most people who have developed some success in their personal finances
  • Xero can also be used for inventory
  • Sage : PCMag’s choice for best accounting and inventory software

Inventory software

  • Zoho Inventory if you need a free option
  • Orderhive is Investopedia’s top pick

Now that you have some business ideas for managing inventory and finances, let’s look at how to get funding for your candle making business.

When thinking about how to start my own candle business, funding is going to be a major consideration. While Jazmin started with $110, it’s typically better to have a little more than that when starting. There are a variety of ways to get funding for a candle making business including:

  • Personal funds/personal assets
  • A loan from family or friends
  • Funds from a business partner , but you’ll have to share the profits and it may complicate decision making
  • Government programs offer grants for minorities, women, and economically disadvantaged areas. Check the SBA site to see if you qualify.
  • Crowdfunding is pitching your idea and getting retail investors to fund your company. Check out our interview about Pooch Selfie to learn more about how he crowdfunded it.
  • Credit cards – Be careful because of high-interest rates, but if you can pay the balance each month, this may be a great way of funding.
  • Home equity loan – Taking equity from your home is another option to fund a business especially if current interest rates are lower than your loan’s interest rate. Talk to your mortgage company about the options here.
  • Business loan – check out our partners
  • Rollover for business startups (ROBS) requires starting a corporation and a 401K, rolling over your current 401K to the new one, and buying your corporation’s stock. Business Funding Trust and Guidant Financial are two companies that can help with ROBS.

Check out details on Shopify loans if you are selling on Shopify. There are also special business loans for women .

Now that we have covered getting the financials and business formation, let’s look at preparing to open a candle business.

Step 8: What do I need to start a candle business?

When considering how to start a candle business, you’ll need to consider:

  • Where am I going to sell my candles?
  • Am I going to hire employees or do it all myself?
  • What technology do I need when starting candle business operations?
  • What will my pricing strategy be?

Let’s look at each of these.

Find a location for your candle business

There are a variety of places you can sell your candles. If you are wondering how to start a candle making business at home, you can do so using this guide and sell them on your own website. Other options include:

  • Retail stores
  • Flea markets
  • Your local farmers market
  • Open a local craft store

If you decide to open your own store or sell on location, you should probably get commercial property insurance from your insurance agent. This is especially important if you are cooking the paraffin wax melts at the location.

Keep reading for information on hiring employees.

Hire employees for your candle business

A dedicated candle maker may grow to the point of needing to hire employees. When you do, you’ll need to get an EIN if you haven’t already. This is how the IRS identifies the employer.

You’ll also need to have payroll software and optional benefits. Many accounting software providers include payroll resources, but if you want to consider other options, check out our article where we compare the 15 best HR companies .

The Department of Labor requires employers to display posters notices for employees, either electronically or physically in the workplace. A comprehensive employer guide for how to display these posters is available on their website.

You’ll also need to follow the following requirements:

  • The Federal Unemployment Tax Act (FUTA) requires any business with employees to pay a payroll tax.
  • Employment Eligibility Verification (Form I-9) allows business owners to verify the identity and employment clearance of every person they hire.
  • Meeting Occupational Health and Safety Administration ( OSHA ) standards enforce workplace safety and are necessary for any business.
  • Worker’s Compensation Insurance is required to protect your business and employees in case of injury

Keep reading for information on the technology you’ll need.

Implement technology to run a candle making business

When following this step-by-step candle business guide, you”ll need to implement some technology. Fortunately, Shopify makes it really easy. Jazmin told us:

The only software we haven’t really discussed much is Instagram. Most business owners today use it to bring people to their stores. It’s free to use and all you have to do is take attractive photos. We’ll discuss it more in the marketing section.

Create a pricing strategy

Is candle making profitable?

Given that she made around $250k this year, I’d say that’s a great living.

Your pricing strategy can be created in a few different ways. The primary ways of pricing candles are:

  • Add up all your costs and divide them by the number of candles you make.
  • Add the amount you want to earn for each candle sold based on the time it takes you to make, sell, package, and ship each candle. So if you spend 4 hours making and shipping 200 candles and want to make $100 per hour, that’s $2/candle you add to the costs.
  • Look up comparable products and price your items based on them.
  • Create a brand story that makes your particular candle more valuable.
  • This is the strategy that Jazmin used

Blk Sunflower’s pricing is justified because the burn life is longer than most others. She also takes the time to make the candles look awesome. Check out one of her pictures below.

Whichever strategy you use, make sure you are realistic about how much time you are willing to dedicate to it. If you are only going to spend a few hours a day, you can’t make as much as if you treat it like a full-time job.

Keep reading for the marketing strategy for candle business ideas.

Step 9: Marketing Campaigns for candles

If you look at the Blk Sunflower Instagram , you can see she’s also a bit of a storyteller. She also uses Instagram stories and Linktree . I especially love what she’s done with Linktree. Check out the picture below.

It’s simple but on brand. In addition, it shares her website, the UpFlip interview, a link to her consulting, a video from King 5 Evening YouTube page, and a video review from one of their customers. It’s a great strategy because it presents the diversity of her passion and success on one page and creates a way to track referrals to other sites.

I strongly recommend anyone who is running multiple businesses to adopt this strategy.

Step 10: Sell candles

Now that you’ve started marketing, sales should start coming in. Make sure to fulfill them promptly or hire a fulfillment center. Customer service and quality are two of the main aspects of a business that encourages people to keep coming back.

Wrapping it up

You’ve been given real-world examples of how to start candle making business opportunities. Now you just have to decide if it’s right for you. If you have created your own candles, what are some tips or mistakes you’ve made during your candle making adventures?

Brandon Boushy

Brandon Boushy lives to improve people’s lives by helping them become successful entrepreneurs. His journey started nearly 30 years ago. He consistently excelled at everything he did, but preferred to make the rules rather than follow him. His exploration of self and knowledge has helped him to get an engineering degree, MBA, and countless certifications. When freelancing and rideshare came onto the scene, he recognized the opportunity to play by his own rules. Since 2017, he has helped businesses across all industries achieve more with his research, writing, and marketing strategies. Since 2021, he has been the Lead Writer for UpFlip where he has published over 170 articles on small business success.

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I’m just confused about where she buys the candle black boxes and then the actual mailing box.

I’ve reached out to her. Once she responds, I’ll let you know where she gets them

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  • Oct 5, 2023
  • 10 min read

How to start a candle business in 2024: an 8-step guide

How to start a candle business

This post was last updated on October 5, 2023.

You’ve probably heard the rumors.

The candle industry is thriving. Last year alone, the global candle industry hit $6.8 billion—and it's currently on track to reach $9.9 billion in annual revenue by 2028, according to a report by Vantage Market Research .

Whether you’re looking to take a personal hobby to the next level or dive head-first into a new business venture, you’ve come to the right place. This step-by-step guide for how to start a candle business will outline everything you need to know.

Why should you start a candle business?

There are a number of reasons why a candle business makes for a good eCommerce business idea . To name a few:

Low startup costs - Candle-making doesn’t require a lot of tools or equipment to start. You could essentially run to your local craft store with little startup capital and get started today (though later you might want to upgrade to premium materials). This isn’t generally the case when it comes to how much it costs to start a business . Consider candle dropshipping also.

Easy to learn - There are tons of free online resources, recipes, and tutorials to help you understand the craft of candle-making (including this handy resource hub by the National Candle Association ). You can experiment with fragrances, containers, waxes, and wicks at your leisure and customize your candles however you’d like.

Better-than-average profit margins - What may cost you just a few dollars to make can typically be sold at a 25% to 50% markup , making operating expenses relatively affordable.

Black text on a light blue background that says "Launch your online store" with a clickable link button that says "Get Started"

How to start a candle business in 8 steps

Master the craft of candle-making

Define your brand

Estimate your startup costs

Write a business plan

Make your business official

Create your startup inventory

Create your online store

Develop your marketing strategy

01. Master the craft of candle-making

The first logical step is to get familiar with the process of creating a candle. One of our favorite types comes from the Armatage Candle Company, which encourages new business owners to heed the "84 Candle Rule"—that is, create 84 candles and give most of them away.

start a candle business

The 84 Candle Rule gives you ample time to get familiar with the candle-making process, test various formulas, and collect feedback from friends and family.

Moreover, as you create more and more candles, you’ll learn to:

Graduate from a candle-making kit. To scale production, you’ll eventually need to invest in more professional equipment, like a 4-lb pour pot or a Presto Pot, that can support a higher volume than a kit.

Master the craft. Rather than splitting your time between learning how to create candles and run a business , you can focus on perfecting (and confirming your interest) in candle-making first.

Test various aspects of your candles. With each batch you make, you can test aspects such as smell, safety, burn time, and more until you develop a formula that you like.

Find suppliers. As you increase production, you’ll need to learn how and where to purchase supplies, whether locally or online—and can afford the time to shop around.

Make a variety of candles. Making 84 candles gives you plenty of room to explore various wax types, dyes, fragrances, and candle types (e.g., pillar candles, container candles, wax melts, etc.) that you can offer as part of your catalog.

02. Define your brand

Before presenting your candles to the market, you must figure out the who, what, and why behind your brand. Ask yourself:

Why are you starting a business ? - What is the story behind your brand, and the overall vision that keeps you motivated?

What is your target market - Are you looking to sell higher-end candles to be sold at luxury boutiques and stores? Or, are you looking to appeal to the masses and create candles that feature more economical packaging and containers?

Who is your ideal customer? - Perhaps you’re looking to sell high-end candles for working men and women aged 20 to 35 who want to spruce up their home offices. Or, perhaps your niche consists of avid campers aged 35 through 60 looking for a better-smelling, bug-repelling candle.

What makes your candles different? - Are your candles non-toxic? Are your scents extra delicious? Do you support a cause? It's important to establish your unique selling proposition (USP) in order to differentiate yourself from competitors.

Once you’ve answered these questions, you can enjoy an easier time figuring out how to bring your vision to life. Between deciding the types of candles you want to offer and how to brand your online store , a clear brand identity can help you to get things off the ground faster.

At this point, make sure to tackle these basic steps:

Decide on a business name - A strong, memorable name is invaluable. Take the time to think of a candle business name that represents your products or brand mission, while ensuring that it’s able to grow with your brand. If you need some inspiration, try the Wix Business Name Generator for free.

candle business brand name

Create a logo - Design a logo that you can proudly sport on your product packaging, website, and marketing materials. The Wix Logo Maker can get your creative juices flowing, or find a professional designer on the Wix Marketplace .

Design your labels - Work with your designer to create labels for your candles that are reflective of your brand’s personality. Remember to observe candle label requirements and include essential information like your candle scent, product weight, and your company information.

03. Estimate your startup costs

When it comes to learning how to start a business , there are typically two types of startup costs that you’ll have to be aware of:

Production/manufacturing costs - These include the cost of manufacturing and packaging your products. Factor in equipment like your containers, waxes, wicks, fragrance oils, thermometers, and more.

Business/operating costs - These include any software subscriptions, shipping costs, small business insurance, and other bills you’ll have to pay to keep your business operations running smoothly.

Take the time to list out what items you’ll need to create your first 100 or so candles. At this stage, you’ll also want to get familiar with costs you should expect, both now and in the future.

For instance, you’ll need to budget money for any marketing or advertising that you plan to do around your products. You’ll also need to factor in taxes, plus recurring fees for any website software you want to use or partners (like 3PLs) that you want to team up with to scale and simplify operations.

04. Write a business plan

A business plan helps you plan out all aspects of your business and set yourself up for sustainable growth.

When developing your plan, it’s important to take your time and walk through the various opportunities and challenges confronting your business. Pinpoint your competitors, your differentiators, your distribution channels, and the resources at your disposal (among other things).

Most business plans will include the following sections:

Executive summary

Company name, description, and domain

Ecommerce market analysis

Products you’re selling and why

Operations plan

Marketing and advertising plan

Financial plan

Learn more about creating a strong eCommerce business plan .

05. Make your business official

It's time to turn your business into a legal business entity and take care of other business-essential steps. Don't worry. This part is a lot less scary than it sounds.

Register with your state

It is important to take where you live into account. Learning how to start a business in Massachusetts is very different from learning how to start a business in California , for example. Register your business name through your state and local governments. The easiest way to find where to register is by googling "register a business in [insert your state]."

The search results will contain several links for companies offering to register your business for you (for a fee). However, you can avoid the service fee by registering directly through your state's website. You’ll typically have to pay a small filing fee, which varies by state.

Get a federal tax ID

File for a Federal Tax ID (or EIN) number , which is required to open a business bank account, obtain a business loan, hire employees, and more. Fortunately, the application process is free and only takes a few minutes.

Apply for business licenses and permits

Once you have your EIN, you can complete the last step in making your business legal: apply for a business license . A business license includes your seller's permit and allows you to collect state sales tax on your transactions.

Perform another internet search to find the appropriate website for your state (i.e., google "register for a business license in [insert your state]"). Complete the application steps outlined by your state. Note that some states only require a general business license while others have additional local or county-based requirements.

Apply for insurance

Unfortunately, the reality is that candles are a fire hazard, and accidents can happen. Therefore, applying for insurance is one of the most critical steps in creating your business. Insurance not only protects your business, but it protects you and your family as well.

At a minimum, you'll want an insurance policy that provides general liability coverage. General liability is the most straightforward and covers third-party property damage or injury claims.

There are a lot of online resources about small business insurance. Do some research, consult a professional, and find a small business insurance company that provides the coverage you need and fits your budget.

Get a business bank account

For taxes and bookkeeping, it’s a good idea to keep your business income and expenses separate from your personal finances.

Each bank or credit union has different fees, transaction limits, and balance minimums for business accounts. So take some time to shop around for a local or online bank that will work for you.

Note: to open a business account, most financial institutions require a copy of your business formation documents (obtained when you registered your business), licenses/permits, and either your EIN or your social security number.

06. Create your startup inventory

Build your first products to list for sale. Start with a fragrance lineup that best fits your business and your purpose, and then every couple of months, launch a new fragrance and get feedback from your buyers.

This can help to keep your customers engaged and excited about new fragrances or product lines.

A good place to start is by launching a handful of fragrances, spanning a range of different categories, such as:

For example, Renee Candle Co. offers several distinct scents within these categories: Unwind, Noir, Tropix, Spiced, Lush and Cozy.

07. Create your online store

Here comes the fun part. Build a business website where you can collect orders for your candles.

Learn more: How to make a website

candle company coal and canary

At this stage, it’s crucial to pick a reliable eCommerce platform. A platform like Wix’s eCommerce website builder offers a wide range of features and capabilities, including built-in catalog management, inventory management, and marketing tools that will be useful in the future.

All Wix websites are also built with SEO, reliability, security, and performance in mind. Meaning, you don’t have to worry about your site crashing when there’s a surge in traffic. And you can rest assured that your site is mobile-friendly and backed by the best security measures.

Read More: Proof that Wix is good for eCommerce

Thanks to these capabilities, you can focus most of your attention on designing the best, user-friendly site experience.

First, pick a layout design that best suits your brand. Most website builders provide several pre-made templates to help get you started. For example, Wix eCommerce includes more than 500 professionally designed online store templates , which can be further customized.

Start a candle business with website templates

Build out your pages and pay special attention to the following best practices:

Use high-quality product photos - Offer a range of studio and lifestyle shots, and photos that show your candles at various angles. Heed these product photography tips in order to take pictures that are both compelling and informative.

Include detailed product descriptions - For each candle, clearly state the available size(s), fragrance, approximate burn times, and appropriate warnings or usage tips. The more detail you can include, the better for mitigating returns due to “item not as described.”

Make sure your products are easy to find - Ensure that your site is easy to navigate. As a general rule of thumb, all of your products should be accessible within three clicks. Leverage breadcrumbs, menus, and features like “related products” to encourage product discovery on your site.

Offer multiple payment options - When connecting a payment provider to your store, keep in mind that some customers may want to pay with a credit card while others may prefer PayPal or buy-now-pay-later services like Affirm. Reduce friction at checkout by offering a variety of payment options. Wix Payments can make this possible on any Wix store—or you can choose from 50+ other payment options.

08. Develop your marketing strategy

You've done a lot of work up to this point. Now it's time to create an eCommerce marketing strategy and figure out how to spread the word about your store. As a Wix merchant, you can automatically access tools for business email marketing, social media marketing, blogging, and more.

Social media is a great place to start promoting your product, though you’ll want to avoid taking the spray-and-pray approach. Engage with social channels one or two at a time (there’s no need to create accounts everywhere just for the heck of it). Experiment with various types of posts—like videos and livestreams—and observe how people respond.

Pro tip : When talking about your product online, avoid subjective buzzwords like “amazing” or “best.” Instead, focus on your purpose and your story, and aim to demonstrate how your products are superior.

Other marketing tactics worth trying:

Create a newsletter to regularly engage with customers and recommend products

Start a blog as part of a larger SEO strategy, and to attract organic traffic to your site

Run ad campaigns that retarget your site visitors and/or help you get in front of new audiences

Incentivize customers to refer a friend to your website by offering special rewards

Collect user-generated content and social proof to display on your site

Run contests and giveaways to generate interest in your products

Participate in craft shows or other local events where you can demonstrate your products in person

Time to launch

So, you've laid the groundwork for your business, stocked up on supplies (plus equipment), built an amazing eCommerce website, and created your initial inventory. Now it’s time to put it all together and launch your candle business.

Remember to never stop being curious, even after you’ve opened the (virtual) doors of your business. Analyze your business regularly. Talk to your customers. Optimize and pivot as necessary.

Ready to start your new candle-making business? Create your online store with Wix eCommerce today.

Looking to start a candle business in a specific state

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How to start a candle business FAQ

What are some of the challenges of starting a candle business.

There are a few challenges that you may face when starting a candle business. These include:

Competition: The candle industry is very competitive, so you'll need to find a way to make your candles stand out from the competition.

Costs: Starting a candle business can be expensive, especially if you plan on making your own candles. You'll need to factor in the cost of supplies, packaging, marketing, and shipping.

Time: It takes time to build a successful candle business. Don't expect to become an overnight success.

What are some tips for starting a successful candle business?

Allison Lee

Allison Lee

Editor, Wix eCommerce

Allison is the editor for the Wix eCommerce blog, with several years of experience reporting on eCommerce news, strategies, and founder stories.

  • Sell Online

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How to Start a Candle Making Business

how to sell homemade candles

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Steps to Starting a Candle Business

How big is the candle manufacturing industry, what are the key segments of the candle manufacturing industry, what external factors affect the candle manufacturing industry, who are the key competitors in the candle manufacturing industry, what are the key customer segments in the candle manufacturing market, what are the typical startup costs for a new candle making business, is a candle making business profitable, what are the keys to launching a new candle making business, how to start a candle making business faqs, helpful videos, additional resources, other helpful business plan articles & templates.

When you think about starting a new business, the focus is usually on making money. However, there are many other benefits to running your own business, from keeping up with the latest trends and innovating yourself to being your own boss. One lucrative yet overlooked industry is candle-making.

In this article, we will share with you how to make your candle business a success.

Importantly, a critical step in starting a candle making business is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here .

Download our Ultimate Business Plan Template here

1) Determine your niche.

There are many ways to go about creating your own candle business. The first thing you need to do is decide what your specific niche will be. Do you want to focus on making candles for an event? Or how about customizing candles for the home? Do you want to sell candles for a particular type of holiday such as Christmas or Valentine’s Day? You can even create multiple niches and focus on giving customers what they want.

2) Name and register your business.

You will need an official business name and you will have to register your business with your state and the federal government. You can pick a name that is related to candles and/or has something to do with your intended market (e.g., Glitter and Sprinkles if you’re selling at craft fairs, Secret Garden for weddings).

3) Determine your business structure.

You have a few options when it comes to setting up your candle business.

You could sell as a sole proprietor, meaning you are responsible for all debts and actions of the company.

A partnership is where two or more people decide to pool resources together with each party being responsible for their actions.

Other common business structures include a limited liability company (LLC) and a corporation. When you choose your business structure, make sure to review any paperwork.

The best option for you depends on your personal preference and the size/type of business you want to start.

4) Create your candle making business plan .

Create a business plan that includes your budget, materials list (including costs), and marketing strategy. You will need to decide what kind of candles you want to make, how much you will charge for them, and how many hours you are willing to spend per week making the initial product line.

To help you get started, you can download our candle making business plan sample pdf .

5) Determine how you’re going to finance your candle-making business.

Figure out what kind of capital is necessary and how you are going to get it. Your best bet may be a line of credit from the bank, business credit cards, or getting a small business loan.

6) Open a business bank account.

This is the official account you will use for your business. It helps to separate your personal and business expenses, but it can be confusing at first since money may still come from different sources. For this reason, you must be organized when it comes to keeping track of income and expenses.

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7) set up bookkeeping software for your candle business..

You are going to need some method of bookkeeping that allows you to keep track of your income, expenses, and taxes. You can use a simple Excel spreadsheet if necessary but purchasing accounting software will make the process much easier. When you set it up, don’t forget to set up separate accounts for all of your different kinds of expenses, income, and taxes.

8) Purchase insurance.

As with any kind of business, it is advised that you get insurance before getting started. This way, if something happens to your equipment, you are not left footing the bill. Also, talk to your insurance agent about covering liabilities that may arise from customers who are hurt while visiting your candle-making lab or store.

9) Find the right equipment.

This will be largely dependent on what type of candle-making business you want to start. A few suggestions are: melting pots, stirring spoons, measuring cups and spoons, molds (silicone or wooden), and thermometers.

You can find most of these items at a local craft store or online candle-making suppliers.

10) Source your supplies.

You will need to find out where to buy wax (soy wax is best), wicks, dye, and fragrance. There are pre-made kits you can buy with everything you need to make candles. Otherwise, you can buy the supplies separately if you are more familiar with the specific supplies that you want to use in your candles.

11) Set up a “candle lab.”

To make wax candles, you will need to devote some space for melting wax, mixing colors, pouring into molds, and cooling. Once you have all your materials and licensing, it is time to start making candles! Here are some tips:

  • always work in a well-ventilated area
  • work with one color of wax at a time
  • melt the wax to between 130-140 degrees Fahrenheit
  • let the dye dissolve completely in the hot wax before stirring (otherwise, your colors will be muddled)
  • use good quality fragrances
  • wear clothes that cover your skin, closed-toed shoes, and a hair net if you have long hair

If you are just starting, you can use your kitchen or basement. If the work becomes too consuming, then an entire room may be necessary.

12) Test your product and chemistry knowledge.

Before you begin to produce large quantities of candles, make a small batch and test them for scent throw (how well it smells), hot and cold scent throw (making candles is all about chemistry), cooling effect (if you used dye, your candles may heat up and melt the dye which will look bad), wax melt pool (how big it is), how long it burns, etc.

13) Create a marketing plan.

Research your target market and determine how to reach them. You can start by hosting small events in your home with friends and family for feedback, then slowly expand from there. Gain more exposure by signing up for a booth at local trade shows and craft fairs where you can sell your candles.

If you want to sell and ship your candles across the country, you can also begin building your own website with the help of a friend or family member who has some web development experience or choose an easy drag and drop e-commerce platform to help you get started.

14) Enjoy the sweet smell of success of your own candle business.

Once you have mastered the art of making candles, you can begin selling candles locally and online using marketplaces like Etsy or build your own website to attract more potential customers.

With hard work and dedication, your business should soon be booming.

The candle manufacturing industry has shown quite an increase in popularity over the last couple of years. The market size now exceeds $2 billion and is projected to grow to $6.6 billion in the next 5 years.

candle industry infographic

Candle manufacturing is a very fragmented business with a majority of it being small and medium-sized companies. There are only a few large manufacturers who hold a significant market share.

The largest segment in the industry is container candles, accounting for 58.7% of the market. The second biggest segment is votive candles, accounting for 21.7% of the market. Other segments include pillars, tapers, novelty candles, and others.

The following external factors also play a role in the candle manufacturing industry:

Disposable Income – Key influencer of the industry. As disposable income increases, so does consumer spending on candles.

Consumer Preferences – Shifts in consumer preferences have a large impact on this industry as it is heavily driven by aesthetics. With new fashions and trends emerging regularly, an additional challenge for candle manufacturers is to keep up with consumers’ tastes and preferences.

Production & Materials Cost – Key influencer of the industry. Changes in resin and wax prices will affect the cost of producing candles.

Environmental Regulations – The environmental impact of burning candles is becoming a major issue for this industry, with consumers increasingly concerned about pollution and its long-term effects. Rising awareness could lead to regulation in this area and introduce an obstacle to candle manufacturing companies’ growth prospects.

The candle manufacturing industry is fairly fragmented with several small to mid-size companies competing for a share of the market. The following are some of the key competitors in this industry:

  • Private Label – Candles are frequently sold under the brand names of retailers or distributors.
  • SC Johnson and Sons – Manufacturer of Glade candle products along with a wide range of other products.
  • The Yankee Candle Co. Inc. – The company manufactures and retails candles, holders, related accessories and room sprays through its candle wholesale division.
  • MVP Group International Inc. – The company designs and manufactures various private label and branded candles, candle accessories, home fragrance products, and decorative accessory gift products.
  • Newell Brands – The candle making company produces the Duraflame brand of candles.

The key customer segments in this market include:

  • Home furnishing stores – These are retailers who sell candles, candle holders and other home furnishing products.
  • Mass merchandisers – Retailers who operate large retail outlets where they sell a general line of products and whose main target market is the price-conscious consumer.
  • Small specialty retail stores – These are retailers who sell a limited line of products and whose stores may be arranged similarly to those of home furnishing retail outlets.
  • Wholesalers – These are intermediaries who purchase products from the manufacturer to resell them to retailers.
  • Exports – Export sales make up a significant percentage of annual candle sales and is expected to grow in the future.
  • Direct sales – Candle sales are made directly to the consumer by manufacturers and producers.
  • Online sales – Candle sales are made through their own ecommerce site and other online marketplaces.

The typical startup costs for a new candle business can range anywhere from $10,000 to $80,000. New candle businesses will require the following initial investments:

  • Raw Materials – Raw materials needed to produce candles may include wax, glass containers, scents, wicks, and other related products.
  • Production Equipment – Production equipment may include molds, melting pots, and filling machines.
  • Marketing Expenses – Marketing expenses may include costs related to promotional items, industry publications, and related products used for marketing purposes.
  • Advertising – Costs of advertising for a new candle business will depend on the type of media used but are expected to be upwards of $1,000 per month.
  • Office Supplies – Office supplies needed by a new candle company might include stationery, business cards, labels, and other related products.
  • Legal Fees – Costs of legal fees may be incurred to file all necessary legal documents.
  • Business Licenses and Permits – Costs of licenses and permits will depend on the location of the new company but are expected to be under $1,000.
  • Packaging and Shipping – Packaging and shipping costs will vary depending on the type of products sold but are expected to be upwards of $1,000 per month.

As your business grows, you may find there are some additional costs of obtaining a larger space:

  • Renting a Commercial Space – The rent for a commercial space will depend on the location of the business and could cost between $1,000 to $3,000 per month.
  • Employee Costs – The employee costs for a new candle-making business will depend on the type of workers hired but are expected to be upwards of $1,000 per month.
  • Utility Costs – Utility costs for a new candle-making business may include electricity, gas, and water.
  • Business Insurance Costs – Insurance for a new candle company may include general liability insurance, commercial property insurance, and vehicle insurance.

Like most businesses, one of the keys to running an effective candle making company is generating positive cash flow on a regular basis. A successful candle business should be profitable enough to support your family and also allow you to invest back into it so that you can grow the business over time.

If you’re looking to start a candle business, there are a few key things you need to know. Here are the most important:

1. Make a business plan.

This will help you map out your goals and strategies for your business. A candle-making business plan should cover a variety of areas, including candle manufacturing, market analysis, key competitors, marketing plan, financial plan, and more.

2. Find customers.

Before you start making candles, find out how much demand there is for the products or services that you will offer. If you can’t find enough customers, then your business won’t succeed.

3. Get funding from the bank or investors.

In most cases, you will need to secure a loan from a bank or obtain significant financial backing from an investor to successfully start a candle business. In some instances, you might also receive low-interest loans or grants from the federal government if your candle business is located in an economically disadvantaged area and/or offers products that benefit society as a whole.

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4. Market your candle-making business.

Make sure people learn about your new candle-making company. Create your website, market on social media platforms like Facebook & Twitter, sell through online retail stores such as Amazon & eBay, and do whatever it takes to get the word out there that you’ve started a new candle-making company.

5. Never stop improving.

In the beginning stages of running a candle-making company, you should never stop learning about how companies make money or new marketing strategies that can help grow your customer base. One of the most common mistakes made by small businesses is not staying up-to-date with industry trends and new developments within their field.

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

How much does it cost to start a candle-making business?

Several costs will be associated with starting a new candle-making business, including production equipment, raw materials, and employee wages. However, many of these expenses can be offset by working with suppliers and manufacturers that offer discounts on the resources needed to produce candles or other related products for sale.

What are the market opportunities of the candle-making industry?

While there is some risk due to the industry's sensitivity to consumer tastes and preferences, this market presents several opportunities for new entrants or companies that can provide unique products at reasonable prices:

Increasing Awareness About Scented Candles - The candle manufacturing industry has been receiving a lot of attention from the media lately, giving many people the opportunity to know more about how scented candles can affect their lives. Candles have been shown to lift consumer moods and reduce stress levels, which could represent future growth opportunities for this industry.

Expansion in the Casual Segment - While candles have been traditionally associated with holidays and events, more companies are beginning to recognize candles' usefulness in everyday life. This presents room for growth, especially when it comes to casual candles, which seem to be mostly overlooked by consumers at present.

International Potential - Market opportunities exist in countries that have a high demand for candles and where candle manufacturing companies can benefit from affluent consumers with high disposable income.

How Can You Market Your Own Candle Business?

Using social media marketing websites is a great way to market your candle business. Facebook, Twitter, Pinterest, and Instagram are just a few social media sites that you can use to tell people about your products. Post pictures of the candles you have made, and offer coupons or giveaways for future candle customers.

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Candle Making Business Plan

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Growing demand, low startup costs, high margins, and a diverse market make candle-making a great business choice, especially for those who enjoy DIY projects and artistic expression. However, starting a business with proper planning can ensure your business is safe.

Are you looking to start writing a business plan for your candle making business? Creating a business plan is essential to starting, growing, and securing funding for your business. So we have prepared a candle making business plan template to help you start writing yours.

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Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

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How to Write a Candle Making Business Plan?

Writing a candle making business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire business plan is ready. Here are some components to add to your summary:

Start with a brief introduction:

Market opportunity:, describe your product:, management team:, financial highlights:, call to action:.

Ensure you keep your executive summary concise and clear, use simple language, and avoid jargon.

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business plan of candle making

2. Business Overview

Depending on your business details, you’ll need different elements in your business overview. Still, there are some foundational elements like business name, legal structure, location, history, and mission statement that every business overview should include:

About the business:

Provide all the basic information about your business in this section like:

  • The name and type of your candle business: mention whether you are a homemade candle manufacturer, factory-produced manufacturer, organic candle-making business, or any other candle manufacturing business.
  • Company structure of your candle business, whether it is a sole proprietorship, partnership firm, or something else.
  • Location of your business and why you selected that place.

Mission statement:

Business history:, future goals:.

This section should provide an in-depth understanding of your candle making business. Also, the business overview section should be engaging and precise.

3. Market Analysis

Market analysis provides a clear understanding of the market in which your candle making business will run along with the target market, competitors, and growth opportunities. Your market analysis should contain the following essential components:

Target market:

Market size and growth potential:, competitive analysis:, market trends:, regulatory environment:.

Some additional tips for writing the market analysis section of your business plan:

  • Use various sources to gather data, including industry reports, market research studies, and surveys.
  • Be specific and provide detailed information wherever possible.
  • Include charts and graphs to help illustrate your key points.
  • Keep your target audience in mind while writing the business plan.

4. Products And Services

The product and services section of a candle manufacturing business plan should describe the specific products that will be offered to customers. To write this section should include the following:

List the products:

  • Create a list of the type of candles your candle business will offer, including scented, decorative, taper, pillar, soy, etc.
  • Shipping and delivery: Explain how your business will handle the shipping of your products and if you will charge any additional fee for these services.

Emphasize product quality:

Overall, a business plan’s product and services section should be detailed, informative, and customer-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Develop your unique selling proposition (USP):

Determine your pricing strategy:, marketing strategies:, sales strategies:, customer retention:.

Overall, your business plan’s sales and marketing strategies section should outline your plans to attract and retain customers and generate revenue. Be specific, realistic, and data-driven in your approach, and be prepared to adjust your strategies based on feedback and results.

6. Operations Plan

When writing the operations plan section, it’s important to consider the various aspects of your business processes and procedures involved in operating a business. Here are the components to include in an operations plan:

Hiring plan:

Operational process:, equipment and raw materials:.

By including these key elements in your operations plan section, you can create a comprehensive plan that outlines how you will run your candle making business.

7. Management Team

The management team section provides an overview of the individuals responsible for running the candle making business. This section should provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

Key managers:

Organizational structure:, compensation plan:, board of advisors:.

Describe your company’s key personnel and highlight why your business has the fittest team.

8. Financial Plan

When writing the financial plan section of a business plan , it’s important to provide a comprehensive overview of your financial projections for the first few years of your business.

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:, financing needs:.

Remember to be realistic with your financial projections and provide supporting evidence for your estimates.

9. Appendix

When writing the appendix section, you should include any additional information that supports the main content of your plan. This may include financial statements, market research data, legal documents, and other relevant information.

  • Include a table of contents for the appendix section to make it easy for readers to find specific information.
  • Include financial statements such as income statements, balance sheets, and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
  • Provide market research data, such as statistics on the size of the candle making industry, consumer demographics, and trends in the industry.
  • Include any legal documents such as permits, licenses, and contracts.
  • Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
  • Use clear headings and labels for each section of the appendix so that readers can easily find the information they need.

Remember, the appendix section of your candle making business should only include relevant and essential information supporting your plan’s main content.

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This candle making business plan sample will provide an idea for writing a successful candle making plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready candle making business plan to impress your audience, download our candle making business plan pdf .

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Frequently asked questions, why do you need a candle making business plan.

A business plan is an essential tool for anyone looking to start or run a successful candle making company. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your candle making business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your candle making business.

How to get funding for your candle making business?

There are several ways to get funding for your candle-making business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

  • Bank loan – You may apply for a loan in government or private banks.
  • Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
  • Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your candle making business, usually online.
  • Angel investors – Getting funds from angel investors is one of the most sought options for startups.
  • Venture capital – Venture capitalists will invest in your business in exchange for a percentage of shares, so this funding option is also viable.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your candle making business?

There are many business plan writers available, but no one knows your business and idea better than you, so we recommend you write your candle manufacturing business plan and outline your vision as you have in your mind.

What is the easiest way to write your candle making business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any candle making business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

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Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to Start a Candle Making Business

Candlemakers are artisans who pay critical attention to the sensory aesthetics of their product line and pragmatic business people adept at enticing buyers through smart marketing strategies.

You may also be interested in additional low cost business ideas .

Learn how to start your own Candle Making Business and whether it is the right fit for you.

Ready to form your LLC? Check out the Top LLC Formation Services .

Candle Making Business Image

Start a candle making business by following these 10 steps:

  • Plan your Candle Making Business
  • Form your Candle Making Business into a Legal Entity
  • Register your Candle Making Business for Taxes
  • Open a Business Bank Account & Credit Card
  • Set up Accounting for your Candle Making Business
  • Get the Necessary Permits & Licenses for your Candle Making Business
  • Get Candle Making Business Insurance
  • Define your Candle Making Business Brand
  • Create your Candle Making Business Website
  • Set up your Business Phone System

We have put together this simple guide to starting your candle making business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas .

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

What will you name your business?

  • What are the startup and ongoing costs?
  • Who is your target market?

How much can you charge customers?

Luckily we have done a lot of this research for you.

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Candle Making Business Name Generator

If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.

When registering a business name , we recommend researching your business name by checking:

  • Your state's business records
  • Federal and state trademark records
  • Social media platforms
  • Web domain availability .

It's very important to secure your domain name before someone else does.

Want some help naming your candle making business?

Business name generator, what are the costs involved in opening a candle making business.

Depending on local zoning laws, you will probably be able to start your business at home, using your own kitchen heat source and utensils. A starters’ kit of products can be purchased online at many sites including Candle Science and CandleChem . Your candle ingredients shouldn’t cost more than a couple hundred dollars to start. This includes:

  • Paraffin, gel, soy, beeswax or other wax
  • Jars, tins or other containers (but keep in mind that you won’t need containers if you’re solely marketing pillar candles)
  • Essential oils for fragrance
  • Coloring agents
  • Packaging supplies
  • Shipping costs of raw products in and finished products out

Other start-up costs will include web development, which can cost zero to a couple hundred dollars, depending on your skills in the area, and at least a reasonably good camera. If you plan to exhibit your products at various shows and festivals, a booth can cost $100 a day and you’ll have gasoline and related travel costs.

You should also first talk with an insurance agent. Since there’s some potential for fire accidents, it’s important that you make sure your operation is insured for fire and also that you have a fire extinguisher on your premises. You should also have an initial discussion with a lawyers to see what your local requirements are for licenses or permits.

What are the ongoing expenses for a candle making business?

The business revolves mostly around the various forms of wax, your containers and color and fragrance additives. Once you’ve started small and proven your business model will work, you can buy these products at lower per-unit costs in bulk. For instance, wax can be found for as little as a dollar a pound when bought in 25-lb quantities. Wicks can be bought by the 100-ft. spool. Containers, including glass jars, mason jars and tins, can also be found in bulk quantities.

Who is the target market?

Your end customer is anyone who wants candles. Some individuals have pragmatic needs—such as for illumination in the event of power blackout—while others are looking for more of a sensory experience. Other great customers include churches that use candles for decoration of prayer offerings or retailers who want to add a dramatic effect to their showrooms.

You might also appeal to resellers who can buy your merchandise in bulk. These will include store owners in your local area or beyond. You might meet such customers at arts and crafts trade shows.

If you like meeting your customers face to face in a venue where they can fully experience the aesthetics of your products, consider renting booths in arts and crafts shows, flea markets, festivals and fairs, and related environments. Entrepreneur Magazine has an informative article about selling at arts and crafts shows.

How does a candle making business make money?

Candlemaking businesses sell to candles either directly to consumers, or indirectly through resellers, such as boutiques, gift shops and other arts and crafts retail venues. Candlemaking is a very general field, so create differentiation through the kinds of candles you sell (pillar, floating, votive, tea, etc.), or through the quality of your offering. Experiment with scents, colors and molds to create something with a unique appeal and worthy of premium pricing.

Furthermore, constantly be on the lookout for raw material suppliers at the lowest possible cost for maximum profit margins on your sales. Also consider associated products or types of candles to expand your target audience.

Your products might sell for as little as a few dollars apiece or as much as $20 or more. Your pricing will depend on the quality and breadth of your product line, your audience, marketing strategy and competition. If your strategy is to be the lowest seller, make sure you’re getting your raw materials at very competitive prices and that you know exactly what your competitors are charging at all times. You’ll probably want to buy wax, wicks, coloring agents, scents and other materials in bulk, to take advantage of maximum per-unit savings.

If your goal is to sell a more premium product line, price is of less concern as long as your products stand out aesthetically. You’ll also want to consider deep discounts on pricing if you find a retail reseller who can move a lot of your merchandise.

How much profit can a candle making business make?

Profit margins of 50 percent or higher are very possible. Cost of materials is not particularly high, but make sure you can fully invest the time required to make your business profitable.

How can you make your business more profitable?

Once you become adept at the basics of candle making, consider branching out in the types of products you offer. For instance, you can increase cost and profit potential by learning how to mold or carve candles to any shape. Or start marketing fancy oil lamps using liquid candles. Also look at such associated sensory products as scented soaps and incense. In some cases, you can learn how to make these additions to your growing product line, or find out where to buy them for resale.

If you have a studio with necessary space, consider offering candle making classes. In this endeavor, you might approach your local community center or community college to see if they’d be interested in adding your class to their curriculum.

And finally, is your business successful enough that you can think about franchising the model? Start by reading this informative article on steps to franchising a business.

Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!

STEP 2: Form a legal entity

The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your candle making business is sued.

Form Your LLC

Read our Guide to Form Your Own LLC

Have a Professional Service Form your LLC for You

Two such reliable services:

You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.

Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

  • Separates your personal assets from your company's assets, which is necessary for personal asset protection.
  • Makes accounting and tax filing easier.

Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.

Get a business credit card

Getting a business credit card helps you:

  • Separate personal and business expenses by putting your business' expenses all in one place.
  • Build your company's credit history , which can be useful to raise money later on.

Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

Certain state business permits or licenses may be needed to go into business as an Ebay entrepreneur. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits .

Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

FInd out what types of insurance your Candle Making Business needs and how much it will cost you by reading our guide Business Insurance for Candle Making Business.

STEP 8: Define your brand

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.

If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.

Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .

If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.

How to promote & market a candle making business

Your most important step is figuring out the audience you wish to attract. Is your typical customer a pragmatic shopper only into cost savings, or is she more interested in the sensory experience? If your customers are the former, be able to boast competitive pricing. If the latter, you should have a beautiful presentation of your product line and make sure your use of colors and fragrances are appealing.

Consider establishing a presence on such online marketplace platforms as eBay, Amazon and Etsy. You’ll find a lot of competition at these sites, so keep your prices as low as possible.

There are many additional arts and crafts sales platforms, though not as well known as Etsy (and therefore potentially less populated with competitors). These include ArtFire, Big Cartel and Craft Is Art, among many others. Here’s a list of 14 potential alternatives.

How to keep customers coming back

Your goal is not only to draw customers, but to make repeat customers of them. Since candles are disposable items that need to be replaced frequently, your existing customer relationships can be lucrative over time. So make sure you satisfy their needs, that they enjoy the quality of the products they get from you and that they know how to contact you when supplies run low.

That’s why it’s important that every order contains easy contact information, whether it’s your website, email address or phone number (or all three). You might include a business card or label with this information as part of the packaging. When meeting customers in person, such as during crafts shows or flea market encounters, make sure buyers and lookers alike get your business card. And try to get their names and permission to add them as subscribers to an email newsletters you send out perhaps before prime candle-buying times such as year-end holidays or Mother’s Day.

STEP 9: Create your business website

After defining your brand and creating your logo the next step is to create a website for your business .

While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.

Here are the main reasons why you shouldn’t delay building your website:

  • All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
  • Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
  • Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.

Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .

Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .

STEP 10: Set up your business phone system

Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.

There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.

Recommended Business Phone Service: Phone.com

Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.

TRUiC's Startup Podcast

Welcome to the Startup Savant podcast , where we interview real startup founders at every stage of the entrepreneurial journey, from launch to scale.

Is this Business Right For You?

The ideal candlemaker should love the craft of candle making and have skills involved with sales and marketing. Candlemakers can begin modestly—in the kitchen and storage space of your home or apartment, and with a limited budget and inventory. Since candles are often thought to be commodity products, you must constantly seek ways of branding your line to differentiate yourself from competitors. Showcase your product line attractively through excellent image photography, a strong online presence and savvy sales skills.

Want to know if you are cut out to be an entrepreneur?

Take our Entrepreneurship Quiz to find out!

Entrepreneurship Quiz

What happens during a typical day at a candle making business?

Here are some of your key responsibilities as a candlemaker.

  • Ordering and storing the raw products you’ll need, including wax, wicks, containers, essential fragrance oils and colors
  • Constantly researching and reaching out to possible sales venues online and/or in the physical world
  • Creating and regularly updating your website and pages on the sites of arts and crafts dealers
  • Meeting or making contact with your customers, whether online or in personal encounters
  • Creating your candles and related products as needed
  • Photographing your product line to maximum advantage so that your merchandise looks appealing online
  • Promoting your business through Facebook, Instagram and other social media outlets

What are some skills and experiences that will help you build a successful candle making business?

Most start this business as hobby candlemakers. You should love the aesthetics of making candles and related items and know how to brand your business. You should know the basics of ecommerce and how to establish an online presence. Display presentation skills are important both online (in the quality of your photos and your written product descriptions) and in physical displays if you sell from booths at shows.

Personal sales ability is critical if you plan to sell your product line in person, either to customers directly or to resellers. You must believe in your product and be able make others catch your enthusiasm.

What is the growth potential for a candle making business?

A typical full-time successful candlemaker might gross $25,000-$50,000 per year. However, you could exceed this amount by selling to a major reseller. Also, consider franchising your business once you’ve grown successful enough that others might want to emulate your business model.

Not sure if a candle making business is right for you? Try our free Business Idea Generator and find your perfect idea.

TRUiC's YouTube Channel

For fun informative videos about starting a business visit the TRUiC YouTube Channel or subscribe to view later.

Take the Next Step

Find a business mentor.

One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.

Having a support network in place to turn to during tough times is a major factor of success for new business owners.

Learn from other business owners

Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.

Resources to Help Women in Business

There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:

If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.

How and when to build a team

Candlemaking is a business that can easily be undertaken alone. But perhaps your goal is to get so popular that you require help with crafting, selling and/or shipping your products. Start with bringing on friends or family members as needed, such as to meet seasonal surges in sales. Don’t bring on permanent full-time help until you’ve seen enough sales cycles to know that you’re likely to have business throughout the year to comfortably meet payroll. Also, check with your accountant to learn all the hidden costs associated with employees.

Useful Links

Industry opportunities.

  • CandleFish Franchise opportunity
  • National Candle Association

Real World Examples

  • Coyer Candle, Michigan Franchise

Further Reading

  • Blog: How to start candle making business
  • Article: Overview of costs for candle making business
  • Video: How to start a candle making business from home
  • Video: How to start your own candle business

Have a Question? Leave a Comment!

  • Website Planet

How To Start a Candle Business: Let Your Creation Shine in 2024

Caitlin Greyling

  • Short on Time? Here’s a Quick Guide to Starting Your Candle Business
  • Research and write a business plan. Before anything else, you must do your market research. You need to know who your target customer is and who your competitors are. You should also finalize a business plan, especially if you want to get funding.
  • Choose a name and register an LLC. Do you have a catchy name for your candle business? You should check if it’s available for use. Formally registering an LLC with ZenBusiness  secures it and protects you from financial and legal liability.
  • Apply for tax IDs and obtain permits and licenses. Regulations vary by state, including the necessity to register for tax IDs (federal or state), permits, and licenses.
  • Open a business bank account and get funding. Capital, such as investment money, is necessary to launch and grow a candle business. You can ensure its proper accounting and management via a business bank account.
  • Source the required materials, resources, and services. Suppliers and outsourced services can supply and/or handle aspects of the manufacturing of your candles. The materials you select will define your product’s quality, look, costs, pricing, and profits.
  • Launch and market your company. A candle business needs online visibility, starting with a website. Luckily, you can design your own affordably and quickly using a website builder .
  • 1. Research and Write a Candle Making Business Plan

Is Starting a Candle Business Really Financially Viable?

What should you include in your candle making business plan.

  • 2. Choose a Name and Register Your Candle Business

ZenBusiness: Accounting & Compliance Covered for Your Candle Business

ZenBusiness LLC formation setup process.

  • Invoicing software. Available on all ZenBusiness LLC formation plans, ZenBusiness Money Essential tracks your business expenses and taxes. All you have to do is link your business bank account to get started. You can also trial and upgrade to Money Pro software if you need access to a more comprehensive range of financial tools.
  • Worry-Free Compliance. Keeping up with your LLC tax obligations can be challenging. ZenBusiness helps you stay compliant by sending you reminders regarding important filing dates, such as your annual returns and license renewals.
  • In-house website builder. With ZenBusiness’ Premium LLC formation package, you get access to its in-house, no-code website builder. You can also sign up for this service as an add-on on any LLC formation plan.

Tailor Brands: Design & Marketing-Forward LLC Formation for Your Candle Making Enterprise

Tailor Brands' logo maker page, asking to enter a logo name

  • Affordable creative services. Tailor Brands specializes in outsourced design, particularly website and merchandise design. It’s also known for its AI-driven automatic logo maker software. You can add these services to your LLC formation or select the Elite package, which already includes them.
  • Optional expedited filing. If you need your LLC formed in a hurry, you can opt for expedited filing, which should shorten the turnaround to around 2 days.

Swyft Filings: Candle-Crafting Business Essentials & Fast Filing Included

Swyft Filings' LLC formation service page, showing the reasons you should file an LLC online with it

  • Compliance Guard trial. Trial this premium compliance tool for free for 14 days with any Swyft Filings LLC formation package.
  • Business Licenses and Permits add-on. Swyft Filings consultants will help you figure out the exact permits and licenses you need to obtain to operate legally in your state or states of choice.
  • 3. Register Tax IDs, Permits, and Licenses for Your Candle Business
  • 4. Get Funding & Manage Finances for Your Candle Business
  • 5. Source Materials & Services for Making Candles
  • 6. Launch and Promote Your Candle Company

Wix: Ultra-Customizable, User-Friendly Site Builder with Stunning Candle-Themed Templates

A candle business website created using Wix's website builder

Wix now has a 14 - day money-back guarantee!

Get a discounted annual plan without taking any risks.

Shopify: Online Storefront Design & Product Listing Made Easy

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Try Shopify for FREE for 3 days!

See if it's right for you - no credit card required.

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Squarespace: High-Quality E-Commerce & Blog Template Designs

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Get an additional 10 % OFF any Squarespace plan!

This exclusive offer is only available for your first purchase.

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Or Use an LLC Formation Service With a Website Builder Included

  • Start Your Candle Business Today

How do I start a candle business?

  • Doing market research and drafting a business plan.
  • Choosing a candle business name and registering your business.
  • Registering for tax IDs, permits, licenses, and insurance.
  • Accounting and getting funding for your candle business.
  • Sourcing materials, suppliers, and outsourced services.
  • Launching and promoting your candle business.

Candle Making Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Art & Craft Industry » Candle Making

Are you about starting a candle making business ? If YES, here is a complete sample candle making business plan template & feasibility report you can use for FREE .

Candles are a great business to start as people buy candles for varying reasons and for this reason, you can go into it as an entrepreneur and make loads of money. There are two ways candles can be made, which are container candles and mold candles.

Deciding on what kind of candles you intend to go into is a decision you would have to make alone. Other decisions that you would need to make before starting your candle business is deciding what kind of wax you want to work with.

While there are several types of waxes available, each comes with pros and cons; so it’s best you know which wax would be best for your business in the long run. You can also find out from competitors that are far from you, what waxes are best for starting your business.

A Sample Candle Making Business Plan Template

1. industry overview.

Candle sales in the united states have improved especially as there is an increasing variety of colored and scented candles, with 7 out of 10 households in the United States making use of candles. More and more people are demanding for candles as an addition to their homes for various reasons both abroad and domestically. This is a $2 billion industry that has over 400 registered candle making businesses that employs 6,065 people.

While the sale of candles started in the 1990s, demand surged in the year 2000 and has been growing by at least 10% each year.

The economic downturn however decreased demand from consumers with sales gradually picking up especially with the help of the social media which has ensured that more people become aware of why they would need a candle in their homes.

The candle making business is a multi-billion dollar industry excluding sales of candle accessories with positive projections of 2.7% between 2010 and 2015 showing that the industry will grow some more. Consumers who go after scented candles do so because they want their homes to smell good.

This is another niche for any innovative and focused entrepreneur as against those who make unscented candles. One of the reasons why the candle business has boomed to this extent is the fact that inputs used for production such as wicks, fragrances, colorants and wax (soy wax, paraffin wax, gel wax, beeswax and other natural based wax ) are not only cheap but easy to source.

This means any entrepreneur who is focused and intent on starting the candle business will make great margins especially during periods where there are high demands. The equipment and finances needed to start the candle making business is not only cheap but can be easily gotten by any focused entrepreneur.

Regardless of this fact, new entrants into this industry might find it difficult to compete fairly with established operators due to the fact that there is rising concentration in the industry. Also, those already in the business will have leverage over new entrants especially in areas such as economies of scale as well as the target market.

According to research, candles are in variety of shapes and sizes, like outdoor candles, tapers, container candles, votives, pillars, floating candles, utility candles, liturgical candles as well as birthday candles where over 90% are purchased by women.

The most popular candles in the United States are container candles, votives, and pillar candles. Most of the candles are usually sold in mostly three outlets such as specialty shops, home décor stores and in mass merchandisers such as grocery stores and drug store chains.

Most candle makers in the United States usually offer between 1,000 and 2,000 varieties of candles, with more than 10,000 different candle scents available to consumers. Every year more than a billion pounds of wax are used in making candles in America each year. The most commonly used wax is Paraffin.

76% of candles are usually given during the holidays as gifts, 74% as house warming gifts, 66% for a dinner party gift, 61% as an appreciation gift, and 58% as birthday gifts for adults. Some consumers even go as far as using candles to decorate the exterior of their homes, while those that use candles in the interior use it in their living rooms, kitchen and also the bedroom.

2. Executive Summary

Bright Light® LLC Candle Making Business is a well known candle manufacturer in Tulsa City, Oklahoma, in the Southern part of USA that caters to local and international clients. Our candles are not just like any candles in the market as we produce each candle with our clients in mind.

We make several kinds of candles both unscented and scented and our candles come in various shapes and sizes, and are constantly experimenting with new scents to intrigue the senses of our clients, who are always on the lookout for something new.

Our candle making business is known far and near and we have created a legacy that has made us uniquely stand out from our competitors. We also offer quality franchise to new entrepreneurs who want to enter the candle making business but don’t know anything about running the business from ground up.

Our franchise terms are fair to both franchisor and franchisee. We also offer consultancy services for those whose business needs an expert boost, as we boast of partnering with the finest professionals in the business.

Due to our steady growth, our candles are not just found in Tulsa City alone but are spread all over the United States of America; as we have partnered with famous mass merchandisers as well as top gift shops where our candles are sold to our teeming customers.

We also carry out sales of our unique candles on our websites as well as several other online marketplaces. Our website is user-friendly and not complicated to navigate at all especially for customers who want to buy from us.

Asides selling candles, we also sell related candle making materials, as well such as candle fragrances, candle wax and eBooks for those who want to try making these candles at home. Due to having some of the finest chemists, we are constantly developing scents that are sometimes rare and most times not even found in the marketplace.

We know that this fact gives us a competitive advantage over most of our competitors not only in Oklahoma but around the United States as a whole. One strong area of investment is in our staff, which we constantly train and re-train and ensure that they are in sync with our vision, mission statement as well as the corporate culture on which we are founded on.

We also have one of the best welfare packages for our staff, as we know that treating the internal customers (employees) right will lead to not only higher productivity, but also a healthy bottom line for the company as well. Due to our various researches, we know that the market for candles is not only booming but also that it hasn’t even attained its peak yet, which means that there is room for more growth in the industry.

We are however not limited locally, as some of our clientele are overseas. This has shown that the candle making business is not only here to stay but is booming as a result of the favorable economy, and the fact that candles aren’t considered expensive by consumers.

We have enough experience in the business to know that ensuring that our customers stay satisfied, responding quickly to their enquiries and complaints as well as having an excellent customer service overall, have led to the increased retention rate of most of our customers.

We know how important repeated customers are to a business, and so we try to make their experience with us as satisfactory as possible.

Bright Light® LLC Candles is owned and managed by Theresa Baker, a seasoned crafter with a B.Sc. in Chemistry and a Masters Degree in Business Management from a prestigious business school. Theresa has over 10 years in the industry and started the candle making business immediately after she finished her first degree.

3. Our Products and Services

At Bright Light® LLC Candles we deal in unscented and scented candles, which come in all shapes and sizes. We know that there are 10,000 different candle scents and we are proud to say we hold a significant number of the total scents produced in the United States. We are constantly looking to improve our scent line.

We are a legal business that is established to make profit; however, we also believe in having multiple sources of income as a company and in line with this, we not only sell candles but also supply candle making fragrances that are concocted by our finest professionals in the field.  We also offer training and consultancy services as well. Some of the products and services we offer are;

  • Different kinds of candles such as outdoor candles, tapers, container candles, votives, pillars, floating candles, utility candles, liturgical candles and birthday candles
  • Sale of fragrances
  • Consultancy services
  • Sale of eBooks

4. Our Mission and Vision Statement

  • Our vision is to be the leading brand in the United States of America, and be amongst the top five brands globally.
  • Our mission is to build a candle making business that will not only meet the needs of our customers but intrigue potential customers as well.
  • We do not only want to sell our franchise here in the United States alone, but also globally as well.

Our Business Structure

We know how important having the right business structure is, and so we are constantly working on how best the business can evolve and grow at a steady pace without imploding. One thing we aim at is to ensure that we hire right always by getting the right fit for each role and position.

This therefore means that we are serious on not compromising in getting and working with the best because we know how important the right employees are to the vision and goals of the business. We also know how important their welfare is and are constantly seeking for reasonable ways to ensure that our employees work not only in a conducive atmosphere but are happy enough to seek the growth of the company as well.

Due to the wide range of products and services we offer, we have various employees on hand to handle the different products and services at Bright Light® LLC Candles so that the business can run smoothly and efficiently. Below is the business structure for Bright Light® LLC Candles;

  • Chief Executive Officer

Product Development Manager

Fragrance and Coloring Manager

Human Resources and Admin Manager

Sales and Marketing Team

Accountants/Cashiers

Customer Service Executives

E-commerce and web content Manager

Security Guards

5. Job Roles and Responsibilities

Chief Executive Officer – CEO (Owner)

  • Ensures that the organization’s strategic direction is communicated to the management staff and invariably the employees
  • Responsible for the availability of financial resources especially the capital by meeting with investors
  • Has experience in dealing with budgets and must ensure that resources are properly allocated in accordance to the policies of the company
  • Ensures that the company’s corporate structure is built in such a way that it affects and influences the management staff as well as other middle and lower end employees
  • Responsible for the performance of everyone and invariably the success of the company and takes an active role to ensure that the required performance is needed
  • Acts as the buffer between the company and external stakeholders, and ensure that both parties are on the same page as regards the performance of the company
  • Uses the CEO position to cultivate relationship with important clients thereby ensuring that new businesses are not only brought in but that the profitability of the company is increased
  • Performs supervisory roles over other heads of departments and also works hand in hand with them to ensure that the operations in the company runs smoothly
  • The manager ensures that the company’s policies are followed at all times. He works hand in hand with the CEO and can make certain decisions on behalf of the CEO
  • The Manager is responsible for ensuring that feedbacks are gotten from the staff and relayed to the CEO
  • Helps to translates the vision and mission statement of the company to the staff so that everyone are aware of what is needed to be done
  • Helps resolves conflicts, as well as motivate employees
  • Responsible for ensuring that reviews are carried out on the company’s budget as well as production goals, and make adjustments where necessary
  • Responsible for creating and introducing new varieties of candles into the market
  • Ensure that they communicate with customers so as to find out their requirements, which will then act as a guide into the creation of new products
  • Analyzes market trends and also responsible for developing product proposals that will enable the company make profit
  • Responsible for reviewing product line so as to ensure that a focused brand concept direction is achieved
  • Works closely with fragrance and coloring manager to identify marketable varieties
  • Works with all the necessary departments to ensure that all target costs are met
  • Carries out constant research on the right scents and colors for the candles
  • Works closely with product development manager to ensure that only the right colors and scents are used in manufacturing candles
  • Communicates with customers to get their feedback on scents
  • Responsible for ensuring that the company gets the right staff and in the right number so as to be able to meet the objectives of the company
  • Works closely with the manager and CEO to ensure that strategies regarding human resources are in line with the goals of the company
  • Responsible for drafting recruitment policies, as well as staff career development policies that is in line with the company’s overall policy
  • Ensures that new staffs are oriented properly, while older staffs are adequately trained and appraised regularly for promotion or fringe benefits
  • Responsible for creating strategies that will address the need of target segments
  • Responsible for drafting an effective marketing plan, which would cover promotion and the right pricing
  • Works with manager to ensure that the sales and marketing strategies meet with the overall strategies of the company
  • Ensures that the company’s image is projected positively in the course of meeting target market requirements
  • Interacts with customers and pass feedbacks back to the appropriate department
  • Responsible for bookkeeping and accounting transactions
  • Ensures that the company’s accounts are reconciled at the end of every month
  • Responsible for paying invoices and payrolls
  • Interacts with customers and answers their enquires whilst also handling complaints from clients in a satisfactory manner
  • Projects the image of the company positively to customers at all times
  • Works closely with the manager to ensure that their tasks are in line with company’s policies
  • Has in-depth knowledge about company’s products and services
  • Ensures that web content is created and accurate
  • Responsible for the creation of content marketing materials
  • Responsible for cleaning and maintaining the facilities in the company
  • Ensures that manager is aware of any serious deficiencies that might require repairs in the company
  • Ensures that there are adequate cleaning stock
  • Responsible for protecting staff, customers and properties
  • Monitors surveillance equipment

6. SWOT Analysis

Our several years of experience in the field together with input from a reputable business consultant has led to our ability to be able to develop an effective SWOT analysis that will help us in running the business better. The SWOT analysis helped greatly in ensuring that we looked at the business critically as it relates to market and the industry at large.

The SWOT analysis is a profiling of our strengths, weaknesses, available opportunities and threats that is likely to either help or affect us negatively during the course of running our business in Tulsa City, Oklahoma and in the United States of America as a whole. Revealed below is the critical SWOT analysis that was conducted for Bright Light® LLC Candles;

Our greatest strength lies in the fact that we offer all shapes and sizes, as well as several flavors of candles to our vast customers. We are also not resting on our oars as we keep developing fragrances that are rare finds which would endear us to our customers, especially those who are bored of regular fragrances.

Another huge strength of ours is in the vast experience of the Chief Executive Officer, who has more than ten years experience in this industry. Also, the fact that our franchises are of high quality, coupled with our descriptive eBooks and consultancy services, also adds largely to our strengths.

Our weakness for now lies in the fact that we would have to operate regionally at first, thereby majorly limiting our business for the first few months of operations to a certain section of the United States of America.

  • Opportunities:

There are various opportunities that abound in the candle making industry and the fact that we are continually working on bringing forth new fragrances with some of our productions offers limitless opportunities for us as a company.

Knowing how every business faces threats every now and then, we are prepared for the threats that will occur during the course of running this business, and while some threats might not be so difficult to handle, like the arrival of a competitor, other threats lie a bad economy, which might affect consumers’ spending power might be difficult to handle.

7. MARKET ANALYSIS

  • Market Trends

The candle market is one where there will always be demands, albeit these demands will depend on the availability of disposable per capita income of the consumers which in turns depends on the health of the economy. Most consumers demand for scented candles has caused companies to constantly research on fragrances that will keep customers intrigued.

Another trend is in looking at all the available avenues by which the candles can reach the customers in a way that is convenient for both the customer and the company. Candle sales these days are not limited to specialty stores and discount stores but can also be sold at fairs and outdoor events.

Finally, technology has a huge role to play into how products are becoming visible to consumers. The internet especially has created an avenue for businesses to not only reach out to their loyal clients but also to potential clients as well.

8. Our Target Market

Almost everybody – from young teens to adults – love candles and have purchased it at one time or the other. However, according to studies, a large percentage of those that purchase these candles are women. This is why most of our strategies revolve around the female folks, especially in Tulsa and in all locations we are looking to get our products to.

Due to the above statistic from a reliable source in addition to our market research, we have been able to draft the right strategies for our target market. We would be engaging in a retail and wholesale distribution to the following groups of people and organizations;

  • Single Women
  • Spa beauty salons
  • Religious houses
  • Business people
  • Single males

Our Competitive Advantage

Any business that is focused on making profit and intends to be amongst the leading brands in the United States of America will do well to draft strategies that will give it a competitive advantage over other same businesses in the industry.

One of the first competitive advantages we intend to have over other businesses is in offering excellent customer services that will remain unrivalled; this can be achieved by employing the required professionals to handle this aspect. We know that an excellent customer service is one of the most effective ways of retaining our clients.

We also have the finest professionals as regards mixing of different scents to produce unique flavors that will intrigue the sense of our customers.

We also intend to ensure that our employees work in a conducive environment where they can grow themselves and increase productivity for the company as well. We intend to create the best welfare packages for our employees and also share part of our profit with our management staff.

Finally, we would ensure that our official website is responsive and user-friendly to clients who would prefer to purchase our products online.

9. SALES AND MARKETING STRATEGY

  • Sources of Income

At Bright Light® LLC Candles, we know how important it is to ensure that our business makes profit not only from sale of candles but also from other sources as well so as to keep our bottom line very robust and healthy. Bright Light® LLC Candles will generate income by having these sources of income;

10. Sales Forecast

Due to a thorough research, we have been able to come up with an almost accurate sales forecast for our candles. Our strategies have ensured that we are in the position to become a leading brand in Tulsa City and the immediate environs. We are not only expecting to make massive profits in our first three months of business but also intend to expand within a year of operation.

Our chances in this industry are based on pure facts and a critical examination of our strengths and what we intend to offer this market. Our sales projections are based on information that were gathered during the course of carrying out a through feasibility study.

We also took into considerations start-ups in Oklahoma especially those in Tulsa City.Below are the sales projection for Bright Light® LLC Candles, which is based on our location, the market and the industry at large.

  • First Fiscal Year-: $200,000
  • Second Fiscal Year-: $650,000
  • Third Fiscal Year-: $1,300,000

N.B: The above projection is based on the fact that all factors, such as a positive growth in the economy and lack of serious competitors – remain unchanged. This means that projections might become higher or lower due to changes at any time.

  • Marketing Strategy and Sales Strategy

Marketing is one very important aspect of any business as it serves a dual purpose in generating income for the business as well as creating publicity for the business.

It is very vital that marketing strategies are drafted and fine tuned so that they can bring in the desired results. In view of this, we conducted a thorough research that will ensure that we have the best strategies in place to generate income for the business.

People get attracted to visuals and so this means that we would strive to put more effort in our visuals to ensure that we achieve attract customers to our brand. Candles are used for different purposes but mostly to calm people, and so we would ensure that our video adverts and images used are ones that will project serenity to potential customers.

Because we know how important the business of marketing is, we have hired a business consultant that will help put our strategies in a better perspective, whilst also including important strategies that are deemed suitable for our kind of business. Our business consultant is an expert in this industry and his expertise would be to the benefit of the company.

Our marketing and sales team will be carefully chosen as they will not only reflect the image of the company but must also understand what the goals of the company are and how it would best fit into their marketing and sales strategies. Some of the strategies that will be adopted at Bright Light® LLC Candles include;

  • Visit religious houses, spas, and other businesses to introduce our candle making business
  • Advertise our candle making business in relevant magazines, local newspapers, radio stations and television.
  • Ensure that our business is listed in local directories as well as online directories
  • Use our website as well as our social media platforms to vigorously promote our products and services
  • Engage in direct marketing
  • Encourage our loyal customers to help in referral marketing
  • Pass out handbills and business cards
  • Create an attractive billboard and place in strategic locations.

11. Publicity and Advertising Strategy

Engaging in publicity is very important as it helps increases awareness for the product and in extension the company itself. There are various means by which a company can choose to publicize its products and services. At Bright Light® LLC Candles, we intend to use both conventional and unconventional means of creating awareness for our products and services.

However, we know how important it is for our brand to be accepted in Tulsa City – Oklahoma, which would then help boost our profile when expanding to other locations. Some of the platforms which we intend to leverage on to achieve the publicity of our products and services at Bright Light® LLC Candles include;

  • Participate in trade fairs and craft shows so that more people can become aware of the company
  • Make use of the official website to keep the audience engaged as regards the various products and services available
  • Placing adverts in beauty and lifestyle magazines, local newspapers, radio stations and television
  • Pass out handbills and paste fliers in conspicuous places
  • Make use of social media platforms such as Pinterest, Instagram, Twitter, Facebook, and YouTube to promote the image of our candle making business
  • Network with other candle makers in and outside Oklahoma

12. Our Pricing Strategy

The pricing for candles are very affordable for everyone. However, the pricing usually varies depending on factors such as varieties, shapes and packaging. However, whilst these factors might affect pricing to an extent, it will not result in steep pricing for the candles.

In choosing the right pricing for our candles, we would ensure that we rate our proposed pricing against what our competitors are offering, and then adjust accordingly. Also, while we would ensure that our prices are fair, we would not offer prices that are below our operational cost.

  • Payment Options

At Bright Light® LLC Candles, we have a payment policy that caters to our numerous clients locally and internationally. Whatever payment option that is chosen by our client isn’t one that will stress them out as our payment options were carefully chosen for its convenience and security. Below are the payment options that will be available for our different clients;

  • Cash payment
  • Payment via Point of Sale (POS) Machine
  • Payment via PayPal (for online and international clients)
  • Payoneer (for online and international clients)
  • Payment via check

As earlier stated, our payment options were chosen because of the ease of convenience for our various clients.

13. Startup Expenditure (Budget)

Any serious entrepreneur knows that in starting a business, part of the capital if not all must be available to buy standard equipment that will ensure the business runs smoothly. The candle business is no different; however, the equipment needed to start this business is something that can be easily gotten.

Asides, equipment there are other areas where part of the capital is expected to be spent on. Some of the key areas that require finances from start-up capital;

  • Business incorporation fee in the United States of America – $500
  • Expenses for legal requirements such as licenses and permits – $700
  • Acquisition of candle making equipment as well as POS machines –  $35,000
  • Start-up inventory cost (wax, wicks, fragrances, packaging materials) – $10,000
  • Marketing promotion expenses for at least six months including the grand opening of Bright Light® LLC Candles – $3,800
  • Insurance coverage – $1,500
  • Cost of hiring business consultant – $1,500
  • Running operation cost for the first six months (employee salaries, bill payments) – $200,000
  • Storage facilities – $2,000
  • Other start-up expenses (phone and utility, stationery) – $1,000
  • Cost of launching an official website – $500
  • Launching party – $5,000
  • Miscellaneous – $3,000

From the above estimate, we would need at least $265,000 in order to set up our candle making business successfully in Tulsa City, Oklahoma.

Generating Funding / Startup Capital for Candle Making Business

Bright Light® LLC Candles is a business that is owned and run by Theresa Baker, and her immediate family. There has been no external partner and there are no plans to having any in the nearest future. This is why we have restricted sourcing for part of our equity from just few sources.

Some of the areas where we intend to generate part of our equity from include;

  • Sale of personal stock and properties to generate capital
  • Applying for loans from banks
  • Approaching wealthy friends and family members for soft loans

N.B: We have generated $100,000 from sale of personal stock. We also have gotten $70,000 from our family members and friends. We have applied for a $100,000 loan from the bank, and we are in the final stages for approval and so have met all the conditions stipulated by the bank.

14. Sustainability and Expansion Strategy

We know that the future of sustaining our business lies in our loyal customers, the structure of our business, the competence of our employees, as well as our various and diverse business structures. These factors therefore affect our strategies drafted to ensure that we remain in business.

One of the dreams of our business is to ensure that we build a business that is able to pay itself in the long run and not depend on external sources to continually fund its operations except in areas where the business needs to expand. We now that this can be possible if we remain focused on our vision as well as company policies.

Since we do not want to close shop anytime soon at Bright Light® LLC Candles, we will try to ensure that profit is shared among top performing management staff, with incentives for staff that put in a great performance as well over the course of a certain time period.

We now that to sustain and invariably grow and expand our business, we must make the right decisions especially in terms of the right recruitment, as well as have a management staff that is attuned to our company vision and policies.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Conducting feasibility studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • writing of business plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party/launching party planning: In Progress
  • Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
  • Purchase of candle supplies: Completed

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Financial Model, Business Plan and Dashboard Templates - FinModelsLab

How To Write a Business Plan for Candle Making Business in 9 Steps: Checklist

By henry sheykin, resources on candle making.

  • Financial Model
  • Business Plan
  • Value Proposition
  • One-Page Business Plan

If you're looking to start a candle making business, now is the perfect time! According to Statista , the candle market is expected to grow at a CAGR of 6.73% from 2020 to 2025. With more people staying at home and looking for ways to create a cozy atmosphere, candles have become a popular choice. However, before jumping into this booming industry, you'll need to write a solid business plan.

Conducting market research is the first step in creating any business plan. You'll need to identify market trends, popular scents, and the most successful pricing strategies. Use online resources, surveys, and customer feedback to gather information.

Next, define your target market . Who are your ideal customers? What age range are they in? Are they looking for eco-friendly options or unique scents?

After identifying your target market, analyze the competition . Look at other candle businesses in your area and online. What are they doing well? How can you set yourself apart?

Determining start-up costs is crucial to understanding the financial requirements of your business. You'll need to consider the cost of materials, equipment, licensing fees, and marketing expenses, among other things.

Create a financial plan that outlines your projected income and expenses. This will give you an idea of when you can expect to turn a profit and how much you'll need to make each month to cover expenses.

Develop a marketing strategy that highlights your unique selling proposition. Will you focus on social media marketing, local events, or word of mouth? Consider the most effective ways to reach your target audience.

Establish a sales strategy that takes into account various channels, such as your own e-commerce website, local retailers, or craft fairs.

Identify potential suppliers for materials and packaging. You'll need to find reliable sources for wax, fragrances, wicks, and other supplies.

Finally, evaluate legal requirements for starting a candle business in your area. This may include obtaining permits, insurance, and licenses.

  • Conduct market research
  • Define your target market
  • Analyze the competition
  • Determine start-up costs
  • Create a financial plan
  • Develop a marketing strategy
  • Establish a sales strategy
  • Identify potential suppliers
  • Evaluate legal requirements

With these 9 steps, you can create a comprehensive business plan for your candle making business. Remember to be thorough and realistic in your planning to set your venture up for success.

Conduct Market Research

Conducting market research in the candle making business is essential to ensure that your business operates successfully. Thorough research provides insights into the industry trends, potential customers, and competition. It will enable you to make informed decisions regarding your business operations and marketing strategies.

The following are essential areas to consider when conducting your market research:

  • Industry Trends: Research on the current and projected trends in the candle making industry. This includes new and upcoming products, relevant technologies, and material innovations.
  • Target Audience: Identify and define the target market for your candle making business. Determine their demographics, interests, spending habits, and purchasing patterns. This information will guide you in product development and marketing strategies.
  • Competition: Identify direct and indirect competitors in your area and online. Analyze their products, marketing strategies, and pricing strategies.
  • Location: Determine the best location for your business. Look for an area with potential customers, minimal competition, and accessible to suppliers and distributors.
  • Regulations: Research relevant laws and regulations in your area regarding product labeling, safety, and ingredients. Make sure that your candles comply with these regulations.
  • Use social media platforms, online surveys, and interviews to gather information on your target market.
  • Join online forums, groups, and associations related to candle making. Engage with other members and learn from their experiences.
  • Attend trade fairs, craft shows, and exhibitions in the candle making industry. This is an excellent opportunity to network, learn about new products, and meet potential suppliers and distributors.

Conducting market research is time-consuming, but it is vital for the success of your candle making business. It allows you to identify your target audience, create products that are desirable to them, and differentiate yourself from your competition.

Define Target Market

Defining your target market is crucial to the success of your candle making business. It's important to understand who your ideal customer is, what their needs and desires are, and how you can fulfill those needs with your products. Here are some steps to follow in order to define your target market:

  • Identify demographics: Start by identifying the demographics of your potential customers, such as age, gender, income level, occupation, and location. This will help you create a clear picture of your target market and tailor your marketing strategies accordingly.
  • Understand psychographics: It's also important to understand the psychographics of your target market, such as their interests, values, and behaviors. This information will help you create products that resonate with your target market and develop effective marketing messages.
  • Consider customer pain points: Think about the problems or challenges your target market may be facing that your candles can help solve. For example, busy moms may be looking for a way to relax and unwind after a hectic day, so you can create candles with soothing scents that promote relaxation.
  • Use social media to gain insights into your target market by monitoring conversations and engaging with followers.
  • Collect feedback from your customers through surveys, reviews, and direct conversations to better understand their needs and preferences.
  • Consider creating buyer personas to represent your ideal customer and guide your marketing efforts.

Once you have a clear understanding of your target market, you can tailor your marketing strategies to reach them effectively. By focusing on your ideal customer and creating products that meet their needs and desires, you'll be more likely to build a loyal customer base and achieve success with your candle making business.

Analyze Competition

Competition is a crucial factor to consider when starting a candle-making business. It's important to understand who your competitors are, their strengths and weaknesses, and what makes your business unique. Here are some important steps to follow when analyzing your competition:

  • Identify your competitors: Start by creating a list of businesses that offer similar products or services in your area. This may include local candle makers or larger companies that sell candles online or in stores.
  • Research their products and services: Take a look at your competitors' websites, social media pages, and product catalogs to get an idea of what they offer. Take note of the types of candles they specialize in, the scents and colors they offer, and their pricing.
  • Assess their strengths and weaknesses: Consider what your competitors do well and what areas they may be lacking in. This can help you identify ways to differentiate your business and stand out in the market.
  • Compare pricing: Evaluate your competitors' pricing and consider where you can position your business in the market. It's important to find a balance between offering high-quality products and a fair price point.
  • Take note of branding and marketing strategies: Look at how your competitors brand themselves and their products. Consider their social media presence, advertising strategies, and customer engagement tactics. Take note of any successful strategies you may want to adopt for your own business.
  • Visit local craft fairs and farmers markets to get a better sense of your local candle-making community and identify potential competitors.
  • Consider reaching out to your competitors for advice and networking opportunities. Collaboration can be beneficial for both parties.
  • Don't be discouraged by competition. Remember that there is always room for differentiation and creativity in the candle-making industry.

Determine Start-Up Costs

One of the most important factors in starting any business is determining the start-up costs . This will give you a clear idea of how much money you will need to invest and how much you will need to earn to make a profit. Here are some things to consider when determining the start-up costs for your candle making business:

  • Be realistic with your estimates
  • Take into account all expenses, even the small ones
  • Keep track of your expenses to adjust your budget later on

1. Equipment: You will need certain equipment to make candles. This includes wax melters, thermometers, molds, wicks, fragrance oils, and other supplies. Research the cost of this equipment and add it to your start-up costs.

2. Materials: The cost of materials varies depending on the type of wax and fragrance oils you use. Be sure to estimate all the materials you will need, including containers, labels, and packaging supplies.

3. Marketing and Advertising: To promote your business, you may need to spend some money on marketing and advertising. This could include creating a website, business cards, flyers, and online ads. Research the cost of these items to add them to your start-up costs.

4. Permits and Licenses: Depending on where you live, you may need to obtain permits and licenses to operate a candle making business. These could be for zoning, safety, or health purposes. Be sure to research what is required in your area and add any associated costs to your start-up costs.

5. Legal and Insurance: It is important to protect your business with legal and insurance coverage. This could include forming a legal entity, obtaining liability insurance, or registering for trademarks and patents. These costs will vary, so be sure to research what is needed in your area and add these expenses to your start-up costs.

By adding up all the expenses in these categories, you will have a better understanding of what your start-up costs will be for your candle making business. This will help you budget accordingly and plan for profitability.

Create A Financial Plan

One of the most crucial aspects of starting a Candle Making business is to create a financial plan . A financial plan is a blueprint that outlines your business' projected income and expenses, making sure that your business operations remain financially sustainable and successful. This chapter will guide you through the process of creating a financial plan for your Candle Making business.

Determine Your Financial Goals

The first step in creating your financial plan is to determine your financial goals . This involves identifying the amount of money that you need to cover your start-up costs, including equipment, supplies, inventory, and marketing expenses. You should also consider your projected sales, revenue, and profits to ensure that your business is profitable in the long run.

  • It's essential to be realistic in your financial projections to avoid overestimating your profits and underestimating your expenses.
  • Use online templates or software to create your financial projections and keep them updated as your business grows.

Create a Cash Flow Statement

The next step is to create a cash flow statement , which is a detailed record of your business's income and expenditure over a specific period. Cash flow statements are essential in identifying potential cash flow problems and ensuring that your business has enough cash to pay bills and other expenses. You should also include a projected cash flow statement that estimates your expected revenue and expenses.

  • Always have a cash reserve to ensure that your business can weather any unexpected expenses or emergencies.
  • Track your cash flow regularly to monitor your financial performance and identify potential issues before they become major problems.

Outline Your Sales and Marketing Strategies

To create a financial plan, you need to outline your sales and marketing strategies . This includes identifying your target audience, developing pricing strategies, and outlining your sales and marketing tactics. Your sales and marketing plan is essential in projecting your revenue and profits since it dictates how you will reach your customers and generate sales.

  • Make sure to research your competitors' pricing strategies and be competitive while still making a profit.
  • Include a budget for marketing expenses, such as social media advertising, influencer partnerships, and email marketing campaigns.

Include Contingency Plans

Finally, you should include contingency plans in your financial plan. Contingency plans are strategies that you can implement if your financial forecasts do not meet your expectations. This could include reducing costs, laying off employees, or changing your business plan to improve profit margins.

  • Be prepared for unexpected expenses, such as equipment repairs, supplier price hikes, or legal fees, by having a reserve fund.
  • Update your financial plan quarterly, reviewing your actual financial performance against your projections.

Develop A Marketing Strategy

Once you have conducted market research, defined your target market, analyzed your competition, determined start-up costs, and created a financial plan for your candle making business, it is time to develop a marketing strategy. This will be essential in getting the word out about your business and attracting customers.

Identify Your Unique Selling Proposition (USP)

Your USP is what sets your candle making business apart from others in the market. It could be your use of high-quality soy and beeswax, your wide variety of fragrances and colors, or your personalized customer service. Whatever it is, make sure to highlight it in your marketing efforts.

  • Think about what makes your candle making business different and why customers would choose you over competitors.
  • Ask current customers what they love most about your candles and use that information in your marketing efforts.

Create a Brand Identity

Your brand identity will be crucial in establishing your business in the market. Consider creating a logo, choosing a color scheme, and developing a consistent tone of voice for your business. This will help customers easily recognize your brand and remember your candle making business in the future.

  • Make sure your brand identity aligns with your USP.
  • Consider hiring a professional graphic designer to create your logo and branding materials.

Use Social Media

Social media is an effective tool for promoting your candle making business and connecting with customers. Choose platforms that align with your target market and regularly post engaging content about your candles, upcoming events, and classes. Consider hosting giveaways or offering exclusive discounts for social media followers.

  • Make sure to respond to comments and messages promptly.
  • Use social media as a way to showcase the unique qualities of your candles.

Participate in Local Events

Consider participating in local events such as craft fairs, farmer's markets, or festivals to promote your candle making business. This will allow you to reach a wider audience and get your candles in front of potential customers. Be sure to have business cards or flyers on hand to distribute to event attendees.

  • Consider offering a discount or special offer for event attendees.
  • Make sure to follow any rules or regulations for participating in the event.

Collaborate with Influencers or Bloggers

Consider reaching out to social media influencers or bloggers in your industry for collaboration opportunities. This could involve sending them a sample of your candles in exchange for a mention or review on their platform, which can help increase brand exposure and attract new customers.

  • Do your research and reach out to influencers or bloggers whose audience aligns with your target market.
  • Make sure to follow any guidelines or policies the influencer or blogger may have for collaborations.

By following these steps to develop a marketing strategy for your candle making business, you will be able to effectively promote your brand and attract customers. Remember to stay consistent in your messaging and branding, and always keep your target market in mind with every marketing effort.

Establish A Sales Strategy

After developing a marketing strategy to attract potential customers to your candle making business , it's time to establish a sales strategy that turns those leads into paying customers. A successful sales strategy will help you improve brand loyalty, increase repeat business and increase the chances of referrals from satisfied customers.

Below are some important steps to consider when establishing your sales strategy for your candle making business:

  • Create a pricing structure: Determine the cost of your candles, and set a fair price that is appealing to your potential customers. Consider what your competitors charge and offer discounts or promotions to encourage purchases.
  • Provide excellent customer service: Create a customer service plan that ensures customer satisfaction. Have a process for handling customer inquiries, complaints and returns, and ensure that all customer interactions are handled with professionalism and respect.
  • Offer product samples: Consider offering product samples to potential customers. This can give them the opportunity to experience the quality of your candles and help increase the likelihood of future sales.
  • Use social media to promote sales: Utilize social media platforms to keep customers updated about new sales, promotions and events. Social media is a powerful tool that can help drive traffic to your site and improve your brand awareness.
  • Create a referral program: Encourage your satisfied customers to refer new customers to your business by offering rewards or discounts on future purchases.
  • Be creative: Consider hosting events, such as candle making workshops, to attract new customers and increase the visibility of your business.
  • Track your sales metrics: Keep track of your sales metrics, such as total sales and conversion rates, to evaluate the success of your sales strategy.
  • Stay up to date with trends: Keep up with new candle making trends and incorporate them into your sales strategy to stay ahead of the competition.

In conclusion, a well-defined sales strategy is essential to growing your candle making business. By creating a pricing structure, providing excellent customer service, offering product samples, using social media to promote sales, and creating a referral program, you can increase your sales and create a loyal customer base.

Identify Potential Suppliers

When starting a candle making business, it's important to identify potential suppliers for your raw materials. This includes waxes, fragrances, colors, and packaging materials. The quality of your materials will greatly impact the quality of your finished product, so it's important to choose suppliers that offer high-quality products. Here are some tips for identifying potential suppliers:

  • Research online: Look for suppliers on websites such as Google, Yelp, and directories like Yellow Pages and ThomasNet.
  • Join industry associations: Joining industry associations such as the National Candle Association can provide you with a list of reputable suppliers.
  • Attend trade shows: Attending candle making trade shows can be a great way to connect with suppliers in-person.
  • Ask fellow candle makers: Reach out to other candle making businesses and ask for recommendations on their preferred suppliers.

Once you have a list of potential suppliers, it's important to evaluate them to ensure they meet your needs as a business. Here are some factors to consider:

  • Quality: Look for suppliers that offer high-quality materials that meet your standards.
  • Price: Compare prices from different suppliers to ensure you are getting a fair price for your materials.
  • Delivery times: Check how long it takes for the supplier to deliver the materials to you and factor that into your production timeline.
  • Minimum order quantities: Some suppliers may have minimum order quantities that you need to meet. Make sure these quantities fit within your budget and production needs.
  • Customer service: Look for suppliers with good customer service that can answer your questions and resolve any issues quickly.

Once you have identified and evaluated potential suppliers, it's important to establish strong business relationships with them. This means communicating your needs clearly, paying on time, and keeping up regular communication.

By taking the time to identify and evaluate potential suppliers, you can ensure that your candle making business has access to high-quality materials that will help you create beautiful and long-lasting candles.

Evaluate Legal Requirements

When starting any business, it is important to make sure that you comply with all the legal requirements. Failing to do so can result in fines and legal issues that can cripple your business. In the case of a candle making business, there are several legal requirements that you need to be aware of.

The first thing you need to do is to register your business. You can do this by visiting the website of your state’s Secretary of State or Department of Business. Depending on the state you’re in, you may also need to register for a sales tax permit, which will allow you to collect sales tax from your customers.

Another important legal requirement is obtaining any necessary permits. Some states require candle makers to obtain a permit from the Fire Department, as candles can be a fire hazard. You should also check local zoning laws to make sure that you can run a business from your home.

One other legal requirement to consider is product liability insurance. This type of insurance can protect you from legal claims if someone is injured by a faulty candle. You should speak with an insurance agent to find out what type of coverage you need.

  • Always keep accurate records of your business expenses and income for tax purposes.
  • Make sure that the labels on your candles comply with FDA regulations.
  • If you plan to hire employees, you will need to obtain an Employer Identification Number from the IRS.

By taking care of all the legal requirements up front, you can avoid legal issues and concentrate on growing your candle making business.

Creating a business plan for your candle making business is essential in ensuring its success. By conducting market research, defining your target market, analyzing your competition, determining your start-up costs, creating a financial plan, developing a marketing and sales strategy, identifying potential suppliers, and evaluating legal requirements, you will be able to launch your business with confidence. Remember to stay organized and flexible as you grow your candle making business!

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Starting Your Own Candle Making Business (Guide and Examples)

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Starting your own candle making business (guide and examples).

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Starting Your Own Candle Making Business (Guide and Examples)

Are you considering opening a candle making business? Although the thought may seem intimidating, it is a worthwhile endeavor. The most successful businesses are those that are the result of someone who is passionate about something and wants to share it with others.

Selling homemade candles could be a good business idea for you if you're an entrepreneur eager to put in long hours on a new business venture.

Therefore, let's look at how you can make money online with this popular product if you're interested in learning how to make homemade candles and launch a candle business .

In this guide, we'll outline the procedures for starting a candle-making business and assist you in determining whether it's the right venture for you.

Why You Should Start A Candle Business Making

  • Different types of homemade candles

Soy candles

Scented or aromatherapy candles, vegan candles, decorative candles.

  • Candle business making: step by step guide

Conduct market research

  • Create your own brand
  • Make a candle company name
  • Make a business plan
  • Create candles to sell
  • Create your online store
  • Make a marketing strategy

Find your USP

  • Extra tips on how to start a candle business

Use this guide as a road map for the initial steps if you've been considering starting a candle-making business. If you're still unsure about starting a candle business , take into account some of the following reasons why candle business owners absolutely love being self-employed:

Some of the world's smallest businesses are expanding the fastest right now. The National Candle Association estimates that over $3 billion is spent annually in the United States on candle sales. More justifications for why candles make a great business opportunity include the following:

  • Set your own daily activities and schedule: Owning your time means you are your own boss. Owning your own business is probably something you'd enjoy if you're sick of having your work schedule dictate how you spend your time.
  • Show your creativeness and interests: Candle makers are artists, but it can be challenging to find a platform for their work. By starting a candle-making business, you'll have the chance to showcase and profit from your creativity through the production of candles, wax melts, marketing, and content creation.
  • Has high demand: Some of the most popular home décor products on the market and well-liked presents are candles with distinctive branding.
  • Create a business from home: Simple supplies, tools, and a workspace are all you need to get started. You don't need a lot of space or equipment. Most candle business owners begin in their own kitchens!
  • A profitable investment: You could sell something that cost you $5 for $20 or more. You can sell candles in gift shops, craft centers, farmers markets, online at places like Etsy, or directly from your own website.
  • Free resources: When you start a candle business, you become a part of a network of creatives and business people with whom you can trade information and resources. Although we hope to be a go-to source for aspiring candle makers, there are a ton of other free resources out there if we don't meet your needs.
  • Easy to sell candles anywhere: Want to sell your home décor goods at local markets and craft fairs? You can sell homemade candles both online and offline because they travel well.

Learning how to make candles is a skill that can be turned into a viable source of income from the perspective of a do-it-yourself business. But first, let's look at some of the popular candle types that are attracting interest from consumers before we discuss how to make your own homemade candles.

Read more:  Best Jewelry Dropshipper For Your Dropshipping Business In 2023

Different Types of Homemade Candles

Making candles for your candle business has a number of benefits, not the least of which is the variety—any potential customer is likely to find a candle they like.

Uncertain of where to begin? The best types of homemade candles to consider when developing your candle business opportunities are listed below.

Soy candles are made from a soy wax base and are one of the most popular candle types available today. Since this wax is made from soybeans, it is a vegetable product (opposed to regular oil- or paraffin-based candles). According to Grand View Research , the soy wax market is predicted to expand at a compound annual growth rate of 8.5% between 2019 and 2025.

candle business

New York City soy candle by homesick

Soy candles not only come from a renewable resource but also burn more efficiently and for a longer period of time. In this manner, customers can purchase a longer-lasting candle for a lower price.

One of the most popular types of candles is this one. Customers looking to fill their homes with enticing scents can choose from a variety of scents in scented or aromatherapy candles.

business plan of candle making

KUSH scented candle by Boy Smells

The manufacturers of aromatherapy candles promote their goods as having particular advantages related to particular scents. These candles typically call for the use of essential oils that are intended to improve one's physical or mental wellbeing. For instance, the scent of lavender is frequently thought to promote relaxation.

A growing number of consumers are interested in knowing what ingredients, if any, come from animals when purchasing goods. Basic candles frequently include animal by products like beeswax, which some customers find objectionable.

business plan of candle making

Vegan candle by Brooklyn Candle Studio

However, vegan candles are here to the rescue! Soy wax, plant-based waxes, fragrance oils, and natural fragrances are used in vegan candles' modified formulas.

Decorative candles frequently have complex shapes, come with accessories, and have intricate designs.

business plan of candle making

Decorative Candle by Amara

Candle Business Making: Step By Step Guide

Regardless of the size of your company, developing a business plan is crucial. It supports your ability to plan for the future, lay the groundwork for your brand, and create a framework for achievement. We'll highlight 8 steps to creating a workable and practical plan in this section.

Do not worry about getting all the details together perfectly; keep it brief and straightforward. The hardest part may be starting, but you can always return to it. Your goals and business structure will probably evolve over time, especially in the first few months.

Spend some time getting acquainted with these steps before you start a candle business.

The people you want to reach with your marketing efforts are your target market. These are the consumers who are most likely to be interested in your goods and become clients. The three types of target markets in the candle industry are as follows:

  • Prestige. Prestige. A recent and rapidly expanding market segment for luxury candles is the luxury candle market. Prices could change. Prestige candles typically cost between $30 and $80, but some, like the Louis Vuitton perfumed scented candle , can cost as much as $185. The high quality of their packaging, fragrances, and emphasis on brand storytelling are hallmarks of prestige candles. 
  • Mid-market. These mid-range candles are very popular. They're probably available at stores like Target. Mid-market candles typically cost around $10 per candle and feature distinctive scenes like rose water, grapefruit, or basil.
  • Mass market. The least expensive candles on the market are these ones. The majority of this market is dominated by companies like Yankee Candle and Bed Bath and Beyond. Standard scents like vanilla or ocean breeze are available and range in price from $5 to $8 per candle.

Choose the market you want to target for your candle making industry. Do you want to enter department stores like Macy's or Nordstrom? Then going mid-market might be your best bet. Do you want to restrict your sales to your website and other online shops? You might be suited to make prestige candles. 

From sourcing materials to creating your brand and packaging, choosing your market will help. After choosing a segment, you should choose the kinds of candles you'll make.

Take note of the types of candles that people are purchasing as you conduct your research. Do vegan, environmentally friendly candles work best for your market? Or do prospective customers approve of paraffin wax candles despite their negative environmental effects.

The kind of brand you develop will depend on the candles you decide to sell.

Create your own candle-making brand

Building a brand is the second step in starting a candle-making company. Your marketing strategies will be influenced by your brand, which also makes it simpler to produce better products for your customers.

Particularly for candle businesses, having a strong brand is essential. Over the past ten years, the industry has experienced such rapid growth that breaking into it can sometimes seem impossible.

Let's examine three strategies for standing out in the crowded candle market.

Unique and interesting fragrance blends 

The most crucial deciding factor for consumers today is fragrance. Three-fourths of candle buyers say it is "extremely important" or "very important" in their choice of a candle, according to research by the National Candle Association .

Using unique scented candles is one way to differentiate yourself from the competition. Making a novel blend gives you instant market recognition. Choose more complex and sophisticated scents that customers can't find anywhere else, such as those that evoke memories or feelings of mystery and intrigue, rather than the more common floral and woodsy scents.

Brand story

The quickest way to engage customers is through a brand story. It's a story that people can use to understand and relate to your brand. Your mission, message, and voice are built upon this foundation.

Brand stories, particularly those in the candle industry, are captivating, relatable, and genuine. People should be moved to action by it, whether that action is a sign up, purchase, donation, or something else entirely.

Consider the Otherland's secret to selling scented candles online : evocative storytelling. Abigail Cook Stone, the creator of a well-known direct-to-consumer scented candle company, uses imaginative branding and storytelling to engage customers' senses. Frequently, her customers purchase her candles without ever actually smelling them.

business plan of candle making

Source: Otherland

Another great example is  Damselfly . Since encouraging sustainable design and promoting positive change are at the heart of the Damselfly brand, each candle is painstakingly designed in-house and produced nearby. Because Damselfly values their customers' well-being and believes in investing in reducing their environmental impact, their products have natural scents, non-toxic coconut-soy wax, and are completely vegan. bold, strong, and blatantly badass.

business plan of candle making

To find your story, ask yourself:

  • Why am I making candles?
  • Who am I making candles for?
  • What impact do I want to have on them?
  • What impact do I want to make on the world?

Visual identity

The most effective method of influencing how people perceive your candle business is through your visual identity, which includes your logo, photography, website, social media, and packaging.

You need to pay close attention to the aesthetics of your products when it comes to your candle business. Customers will use your candles as a decorative addition to their homes and for their personal odor preferences, so you should design your products with them in mind.

For instance, the Vintage Vegan Candle Co brand is all about promoting environmental sustainability where their products are fully recyclable, sustainable, and sourced from materials.

business plan of candle making

Make a Candle Business Name

Your candle business is currently taking shape well. It's time to choose one of the potential business names you've thought of over the years.

Keep your suggestions for candle company names simple and clear. That will make it memorable and simple for customers to say. You will lose out on free word-of-mouth advertising if your name is too challenging to remember.

Utilize PageFly’s business name generator if you're still having difficulty coming up with a name for your company. Simply enter a keyword, click Generate Names, and then browse thousands of automatically generated name suggestions for your business.

Make a Business Plan for your Candle Business

When starting a candle business, your entire operation is guided by a business plan. It assists in defining your strategy, identifying obstacles, determining the resources you require, and evaluating your business idea prior to launch.

Ask yourself: What is the ultimate objective for my candle making brand, you might ask? Whom do I directly compete against in the candle making industry? Will I allow myself to be sold in stores like Target or Nordstrom? Or do I want to open an online store and sell to my customers directly?

As you develop your candle-making brand, identify your business objectives and keep them in mind.

Create Candles To Sell

There are many different kinds of candles you can make in your kitchen, as we've shown. We'll demonstrate how to make a simple soy candle with this candle making process below. You can use the same fundamental ingredients, make a few minor adjustments, and produce your own unique recipe.

Gather your materials

business plan of candle making

Source: diyideacenter.com

For this homemade soy candle recipe, you’ll need:

  • Wicks (preferably cotton)
  • Essential oil of your choice
  • Double boiler
  • Thermometer
  • Pen or pencil

If your candle business needs jars or other glass containers, you can search AliExpress for a variety of bulk purchasing options or check its neighborhood dollar store or thrift shop for cheap jars.

You can buy essential oils at your local craft store, on Etsy , or on Amazon.com . Nearly every grocery store will have the remaining ingredients.

Create Your Online Store

Where should you promote your own candle business now that they are prepared for sale? Your own online store is a fantastic place to start.

Compared to listing your candles on online shopping sites like Amazon, creating an online store seems like a daunting task. However, these markets severely reduce your profits and prevent you from freely expressing your brand. Long-term profitability aside, your online store serves as a digital headquarters for your brand.

candle business

Shopify is the most streamlined place to start when it comes to creating an online store and having your own website. Without extensive resources or knowledge of coding, you can create an online store for your candle business.

Make a Marketing Strategy

You've got the winning formula—now figure out how to sell your soy candles (or other homemade candles).

One of the most profitable mediums for selling candles, like many business-to-consumer retailers, is online. To reach potential customers all over the world, you can use a variety of digital platforms, such as social media and your own ecommerce site.

Although the following list does not cover every channel merchants can explore for their new business, these are some solid options for marketing your own business online.

  • Giveaways and contests
  • Email Marketing

Although selling online is a viable option for merchants, don't be afraid to sell in person as well.

Homemade candles are small and portable, making them ideal for selling on the go. Your fragrant home decor items are ideal for displaying at craft shows and pop-up shops , where merchants can get direct feedback from potential customers.

  • Obtaining immediate feedback
  • Look for wholesale opportunities
  • Increase your online presence and email subscribers
  • Inspiration and networking

Although physical sales require different skills than sitting at a desk, a little knowledge and the right tools can help you make sales on the go. Set up your shop or booth at your next flea market, farmer's market, craft fair, and/or maker fair with a mobile point-of-sale system like Shopify POS, and keep transactions quick and simple.

Now that you know where your candles fit in the market, it's time to identify your brand's unique "niche"—what makes your candles stand out from the crowd. Here are a few examples of how candle makers have found their perfect niche:

  • Scent combinations that are one-of-a-kind
  • Unique packaging
  • Candle names that are clever, humorous, or charming
  • Charitable contributions to a worthy cause

Finally, your goal should be to sell candles that are so distinct and one-of-a-kind that customers can't find them anywhere else.

Here are some case studies for your inspiration:

This candle business brand offers more than just candles.

“We retail a 'vibe' to our customers. Our candles are not just plain jane showpieces; they are a reflection of what our customer feels or relates to in their life. So, we actually offer good humor along with a well-thought palette of fragrances through all-natural soy wax candles,” the founder says.

business plan of candle making

The two signature collections include Truth Bombs, which aim to kick off a riot of laughter, awkward revelations, a series of I-know-rights, and explosively honest confessions, and F.L.Y. - First Love Yourself, which offers an unusual and unapologetic take on radical self-love.

business plan of candle making

The Philotree

The Philotree is an offshoot of Teal Tree India, which aims to promote holistic and healthy living. Scented candles were created  as a Diwali special offering.

“We decided to create a 100 percent vegan candle brand with unique blends. “Most of our candles use fragrance to create an experience, for example, being in the mountains or sipping a cocktail at the beach as opposed to plain vanilla aromas,” the founder says.

business plan of candle making

Extra Tips On How To Start a Candle Business

Keep these candle business tips in mind whether you're starting a side hustle or going full-time:

Take Fantastic Product Photos 

Great product photography is essential for persuading people to buy your candles. Check that you can see the shape and label of your candles clearly. Are you up for a challenge? Display an image of the candle in use in your home so that customers can imagine it in theirs. You can either hire a professional photographer or take high-quality photos with your smartphone.

business plan of candle making

Source:  Umbr Tree

Increase Your Sales Opportunities 

It is more profitable to have recurring customers than to constantly find new ones. To increase revenue from existing customers, try out different cross-sell and upsell opportunities. You could also provide subscription boxes, similar to Frostbeard Studio . Customers can join the Candle of the Month Club, which provides them with a brand new candle every month for a set price.

Boost Your Product Offering

business plan of candle making

Tofino Soap Company

Paddywax candles are made with nostalgia in mind. Each candle is made by hand from carefully chosen materials like soy wax and an essential oil blend and is intended to fill the home with memories. The wicks are hand-stitched after the wax has been poured into seeded glass containers. When lit, Paddywax candles emit a jewel-like glow that draws out the material's distinct aura from its surroundings.

business plan of candle making

Enhance Holiday Sales

According to the National Candle Association , approximately 35% of candle sales occur during the Christmas holiday season, with 76% of buyers viewing candles as an appropriate holiday gift. Prepare for the holiday season by developing holiday campaigns with special promotions and advertisements aimed at potential buyers.

Keep Up with Consumer Trends 

Keep up with what's going on in your industry. To understand customer pain points and track breakout trends, use tools like Facebook IQ , Think with Google , and Nielsen . You can use this knowledge to develop new product concepts, fragrances, and marketing campaigns to promote your brand.

Read more:  Best Small Business Ideas For Teenagers And How To Start One

You've made it this far, which means you know exactly how to get started with your own homemade candle business. With the tools and knowledge listed above to assist you in making and selling your homemade candles, you can progress to creating your own income stream through your DIY skills.

Do you have any suggestions for how to make candles for inexperienced DIYers? Please leave your suggestions and advice to our email at [email protected].

Victor Bui

Hi. I'm Victor, a CRO Expert at PageFly. I've been with this fantastic team since 2016, and I absolutely love helping Shopify merchants like you thrive in the world of eCommerce. My expertise in marketing and optimizing operations ensures that our clients get the best possible results. I'm thrilled to be part of the PageFly family, where we're dedicated to supporting the incredible Shopify community . When I'm not working hard to improve your conversion rates, you can find me pursuing my passions outside the office. I love traveling to new places, staying fit at the gym, and spending time with my family. My ultimate goal is to see our merchants succeed. I'm committed to delivering top-notch service and sharing my knowledge so that we can grow together. I believe that by working as a team, we can overcome any obstacles and achieve amazing results. So let's join forces and make your eCommerce dreams a reality! Feel free to connect with me on LinkedIn .

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Candle Making Business Plan: How to Start, Requirements, Manufacturing Process, Cost, and Profit

Table of contents, requirements to start a candle-making business, legal requirements for selling homemade candles, raw material requirement for candle-making business, the candle-making process, candle-making business plan, cost/investment required for starting a candle business, candle-making business profit, the marketing plan, the financial plan, the operational plan.

Are you thinking about starting a candle-making business? If so, you’ll need to put together a business plan. This will help you to give the steps you need to take to get your candle-making business off the ground. This information will give you an overview of what you should include in your candle-making business plan. We’ll cover everything from your business model and product line to your target market and marketing strategy. By the end of this post, you will have all the information you need to start your candle-making business plan.

Candle Making Business Plan

Candle making business plan

To start a candle-making business, you will need supplies and materials. First, you will need wax. You can choose to use paraffin wax, soy wax, beeswax, or a blend of these waxes. Then, you will need wicks. You can purchase pre-tabbed wicks or tab your wicks using a wick tabber. Wick tabbers can be found online or at some craft stores. Once you have your wax and wicks, you will need something to melt the wax in and pour it into your candle molds. An electric melting pot is recommended as it is less dangerous than using a double boiler on the stovetop.

You will also need some fragrance oil to add scent to your candles. Candle fragrance oil can be purchased online or at some craft stores. The fragrance oil amount you use will depend on the wax you are using and the strength of scent you want your candles to have. A general rule is to use about 1 ounce of fragrance oil per pound of wax, but this may change depending on the wax type and fragrance oil you use.

In addition to the supplies and materials listed above, you will also need some essential equipment for your candle-making business. This includes a scale for measuring ingredients, a pouring pitcher, stirring sticks, mold Release spray (optional), a thermometer, molds (silicone molds are best), labels, and packaging materials. 

In case you missed it: Cold Storage Business Plan: How to Start in India, Requirements, Cost, Subsidy, and Loans

Colorful Candles

You need to know a few legal requirements when selling homemade candles. Firstly, all businesses in the US must have a federal tax ID number, which can be obtained from the IRS website. Secondly, if you’re selling candles that are scented or made with essential oils, you’ll need to include a list of components on the label. Lastly, it’s always best to check with the local city or county government to see if there are additional candle sales regulations.

To set up a candle-making business, you will need various raw materials. These include wax, wicks, fragrance oils, dyes, and containers. Wax is the base material for candles and comes in various types, including paraffin, beeswax, soy wax, and palm wax. Each type of wax has its properties that will affect the finished candle. For example, beeswax is more expensive than paraffin but has a natural honey scent that some customers prefer.

Wicks are made from cotton or other natural fibers and help draw the molten wax into the flame. The size and type of wick will depend on the wax you are using and the size and shape of your candle. Fragrance oils are used to add scent to candles and can be synthetic or natural. Synthetic fragrance oils are less expensive but sometimes have a chemical smell that some people do not like.

Natural fragrance oils are more expensive but tend to be a more pleasant smell. Dyes can add color to candles but are unnecessary if you use clear or white waxes. If you choose dyes, use ones specifically made for candles, as some dyes can clog wicks or cause other problems. Containers can be glass, metal, ceramic, or any other material that can hold molten wax without melting. 

In case you missed it: How to Start a Dropshipping Business in the USA: Business Plan, Cost, Profit, and Requirements

Wax Candles

Making candles is a pretty straightforward process. All you need is a heat source, wax, molds, and wicks. Firstly, you’ll need to melt the wax. This can be done in a crockpot or a double boiler on low heat. Once the wax is melted and then add any desired fragrance or color, then pour the wax carefully into the molds. Allow the candles to cool completely before removing them from the molds. Finally, trim the wicks and enjoy your new candles!

If you’re thinking about starting a candle-making business, you need to consider some points. For starters, you’ll need to create a business plan outlining your start-up costs, target market, and marketing strategy. To get started, check out our blog post on creating a business plan for your candle-making business. This will give you a good foundation to work from as you start developing your plan.

Once you have your candle-making business plan in place, it’s time to start thinking about the supplies you’ll need to get started. You’ll need wax, wicks, fragrance oils, and colorants for candles. You can find these supplies at craft stores or online retailers specializing in candle-making supplies. Now that you have your supplies and business plan, it’s time to start marketing your candles.

There are different ways to do this, but some of the most effective include setting up an online store or selling at local craft fairs and markets. If you’re selling online, take good-quality photos of your candles and write enticing product descriptions. Consider creating eye-catching displays for craft fairs and markets that attract customers to your booth. And don’t forget about social media! Promote your candles on Facebook, Twitter, and Instagram to reach even more potential customers.

The cost of starting a candle business can vary depending on the candle type you want to make and sell. For example, if you want to make soy candles, you must invest in soy wax, wicks, and fragrance oils. The equipment needed to make soy candles includes a double boiler, thermometer, mold, and jars. You will also need a pouring pot and measuring cups if you pour your candles. The average cost of starting a soy candle business is between $200 and $600.

If you are interested in making beeswax candles, you must invest in beeswax, wicks, and essential oils. The equipment needed to make beeswax candles includes a double boiler, thermometer, mold, and jars. You will also need a pouring pot and measuring cups if you pour your candles. The average cost of starting a beeswax candle business is between $300 and $700.

In case you missed it: Instant Noodles Business Plan: Making Process, Machine Price, and Profits

Candle Making Business

Keep some points in mind when making a profit in the candle-making business. Firstly, it is important to understand your costs well. This includes the cost of materials, labor, and overhead. If you have a good handle on your costs, you can price your candles accordingly and make a profit. Another important factor in making a profit in the candle-making business is to sell in volume. The more candles you sell, the more money you will make.

Therefore, it is important to focus on marketing and promotion to get your candles into the hands of as many people as possible. Finally, it is also important to offer various candles to appeal to a wide range of customers. By offering a variety of sizes, scents, and designs, you can maximize your chances of making a sale and earning a profit.

A candle-making business’s marketing plan should include various strategies to reach potential customers. Traditional advertising methods such as print, radio, and television can be used to promote the business. In addition, online marketing tactics like search engine optimization (SEO), social media marketing, and email marketing can be employed to reach a wider audience.

It is essential to consider the target market when developing a marketing plan for a candle-making business. Who is the ideal customer? What are their needs and desires? What are their buying habits? Once the target market is identified, the marketing strategy can be tailored to appeal to that audience.

There are many creative ways to market a candle-making business. For example, hosting a booth at a local craft fair or setting up an e-commerce website are excellent ways to reach potential customers. Offering discounts or free shipping on orders can also help to encourage sales. Whatever marketing strategies are used, it is important to track results so that changes can be made if necessary.

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Candles

As with any business, a candle-making business requires a detailed financial plan. This plan should include your start-up costs, operating expenses, and income projections. Start-up costs will include things like the cost of supplies, equipment, and any fees associated with registering your business. Operating expenses will include materials, packaging, shipping, and other ongoing costs associated with running your business.

Income projections should consider the retail price of your candles, the wholesale price if you plan to sell to retailers, and the number of candles you expect to sell each month. Creating a detailed financial plan is essential to the success of any business. By creating a comprehensive plan, you can ensure that your candle-making business has the best chance for success.

The operational plan for a candle-making business will include several key elements. Firstly, it is essential to have a clear idea of the scale of the operation and the type of candles you will be making. For example, if you only intend to make a small number of candles for personal use, you will not need the same equipment and raw materials as someone looking to start a large-scale production line.

Once you understand the size and scope of your operation, you will need to source the necessary supplies. This includes the raw materials for making the candles and any packaging and labeling requirements. It is important to get good quality supplies, as this will impact the final product.

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Simple Candles

Once you have all the necessary supplies, you will need to develop a production process. This should be designed to maximize efficiency and quality control. For example, if you are making different types of candles, it may be helpful to set up separate production lines for each type. Ultimately, your operational plan should be designed to ensure that your candle-making business can run smoothly and profitably.

Starting a candle-making business can greatly tap into a growing industry while expressing your creativity. But before you get started in this business, it’s important to have a clear plan. Use our tips and templates to create a candle-making business plan to help you get organized and start on the right foot.

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Candle Business Boss

How to write a candle Making Business Plan outline

Planning ahead for any major life decision or project is always advisable, and that doesn’t change when you’re considering starting your own business. By creating a business plan that addresses all the decisions you have to make for your candle making business, you can follow it step-by-step towards success—and you just have to answer some questions before you do so.

Table of Contents

How to Write a Candle Making Business Plan:

  • Describe your business structure. 
  • Make legal decisions, including how you’re going to insure your business. 
  • Create your staffing and management structure. 
  • Create a budget—short term to get started, and long term to thrive. 
  • Outline where and how you will do your business, regardless of whether you are at home or in your own store. 
  • Create a marketing strategy.
  • Write out your mission statement and goals. 

Following an outline for your business plan is easy—all you have to do is answer the questions and write it out in the best, most detailed way you know how. The more information that you include in your business plan and the more questions you answer now means less questions to answer down the road—when timing can be of the essence. Read more to find out how to create your business plan. 

Describe your business structure

How you’re going to run your business is one of your very first steps. While this may be vague upon first glance, there are many decisions you need to make to the back end of your business before you consider moving to the next step. This is the base of your business, and all decisions should come back to this section of your business plan.

What needs to be included in this section?:

How to write a candle Making Business Plan outline

  • Your business name. While you may want to wait until you’re finished with the rest of your business plan before you make this decision, it’s important to include it at the start of your business plan. You have several options in registering your business name, including registering under a “doing business as” or alias. Note that if you register under your own name, you may have to register differently. You also need to pick a name that is unique that you can register with the government for tax purposes.
  • Type of business. Because there are so many options regarding taxes and liability, you need to decide on whether you’re going to “do business as”, go into a partnership, or create a limited liability company. In most cases, limited liability is your best and safest option, but discuss this with your attorney before deciding. 
  • A general business description. What do you want to do or sell? Outline it here. 

Make legal decisions, including how you’re going to insure your business

Always consult with a legal professional before making any decisions in your business. That being said, you need to determine to what extent you need legal advice. Starting out your business on Etsy does not require any insurance, but it will always be helpful and reduce your liability if you are covered. 

What needs to be included in this section?

  • Your insurance information. Outline how you are going to make sure your business is insured, and, if applicable, your policy information. 
  • Your business license information. In most cases, you will need certain licenses and permits to create your business. Outline what your local government requires here. 

Create your staffing and management structure

Whether you’re opening your shop by yourself or with someone else, always create the information needed in this section of the plan. It doesn’t matter if you don’t feel like you will ever hire someone else to help you—the moment you make that determination is the moment you need the information. While it could be simple speculation, set aside some time to determine what would happen if you were to hire on another individual for your business. 

  • All the major decision makers. If it’s not just you, who else can make decisions about the business? What can they decide? What are their responsibilities? Make this very clear in your business plan. 
  • Management hierarchy. If you have multiple owners or employees, who do they answer to? 
  • Employee benefits. What benefits will you offer to your employees?

Create a budget—short term to get started, and long term to thrive

Arguably the most important part of your business plan, you need to outline and itemize each of your expenses, whether in the short term or the long term. 

How to write a candle Making Business Plan outline

  • Month by month operational costs. Outline exactly how much money you can spend each month on inventory, your online or physical shop, marketing, insurance, and your personal salary. 
  • Determine how much you need to break even. 
  • Determine how much profit you would need to make expansions. Also, you can outline any expansion ideas for the future. 
  • Determine your cost per candle. This will help you set your prices. 
  • Determine how you will raise your funds. If you need capital to create your business, outline how you’re going to do it here, whether it’s through your own funding, grant money, business loans, or friends and family. 
  • Create a sales projection. Using the financial knowledge you have, estimate how much you would need to grow within the first five years of being open. 

Main Raw Materials For Making Candles

Outline where and how you will do your business, regardless of whether you are at home or in your own store.

It doesn’t matter whether you’re selling out of your home or a storefront—decide where you intend to sell, and describe it here. 

  • Where you intend to sell. If it’s online, explain what website or platform you’re using. If it’s a physical place, explain what you want in a storefront. 
  • The products you intend to sell. What kind of candles are you going to make? How are you going to make them? What supplies do you intend to use? What makes your candles different? Your business plan is a living document, so feel free to edit this section as you plan. 

Create a marketing strategy

When putting together your budget, you touched on marketing. So, what do you need to consider and place in your business plan?

How to write a candle Making Business Plan outline

  • Find your target demographic. You can tailor your marketing to your demographic by doing a bit of research. Knowing where your customers are online can help you to decide which social media pages to focus on. 
  • Analyze the market. Know the product your selling and the trends in the current market. 
  • Social media pages. What social media platforms are you going to use for marketing your inventory? How are you going to link them to your website, or drive people to your physical store?
  • A post schedule. You should always consider how often you’re posting and how often your target demographic is looking at those posts. Create a schedule and be consistent with the content you create. 
  • Create a cohesive brand. What does your logo look like?  What about the colors you use, or the fonts you use? Make sure to stay cohesive within your brand and use the same elements throughout all your marketing for a professional look and to create brand recognition.

Write out your mission statement and goals

Knowing the reasons why you’re starting your business and including it in your business plan is key to your success. There will be ups and downs as you create your business, and knowing why you’re doing it in the first place can help you keep your determination and focus in the right direction. 

  • An executive summary. This should be included at the beginning of your plan, but writing it at the end is easiest. Summarize your entire business plan in this section.
  • A mission or vision statement. Describe your goals and why you want to start the business. 

Stay true to the reason you wanted to start your business in the first place, and refer back to it often. Only you can determine your success in your business, and planning ahead will be the best way to get you there. 

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Frequently asked questions, how much money do i need to start an at home candle making business.

How To Print Designs On Glass Candle Jars In 5 Steps

Creating your candles at home will require you to invest in a point-of-sale system, a way to showcase your candles online (whether on social media, a website like Etsy, or your own personal website), marketing, and inventory. This should cost around $1,500 to start. 

Is it safe for me to make candles out of my home?

Yes, you can make candles in your home safely. Make sure you prepare your space and keep surfaces clean by placing down newspaper or wax paper, always monitor the heat of your wax, and use the proper equipment. If you want to purchase extra insurance for your business, you can also do that and it is greatly encouraged.

Looking to start your own candle making business, check out my startup documents here

Please note that the contents of this blog are for informational and entertainment purposes only and should not be construed as legal advice. Any action taken based on the information provided in this blog is solely at your own risk. Additionally, all images used in this blog are generated under the CC0 license of Creative Commons , which means they are free to use for any purpose without attribution.

business plan of candle making

Meet Shawn Chun: Entrepreneur and Candle Business Fan.

I’m a happy individual who happens to be an entrepreneur. I have owned several types of businesses in my life from a coffee shop to an import and export business to an online review business plus a few more and now I create online candle business resources for those interested in starting new ventures. It’s demanding work but I love it. I do it for those passionate about their business and their goals. That’s why when I meet a candle business owner at a craft fair, farmers market, retail location or anywhere else I see myself. I know how hard the struggle is to obtain and retain clients, finding good employees all while trying to stay competitive. That’s why I created Candle Business Boss: I want to help candle business owners like you build a thriving business that brings you endless joy and supports your ideal lifestyle.

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How Fast Should Your Company Really Grow?

  • Gary P. Pisano

business plan of candle making

Growth—in revenues and profits—is the yardstick by which the competitive fitness and health of organizations is measured. Consistent profitable growth is thus a near universal goal for leaders—and an elusive one.

To achieve that goal, companies need a growth strategy that encompasses three related sets of decisions: how fast to grow, where to seek new sources of demand, and how to develop the financial, human, and organizational capabilities needed to grow. This article offers a framework for examining the critical interdependencies of those decisions in the context of a company’s overall business strategy, its capabilities and culture, and external market dynamics.

Why leaders should take a strategic perspective

Idea in Brief

The problem.

Sustained profitable growth is a nearly universal corporate goal, but it is an elusive one. Empirical research suggests that when inflation is taken into account, most companies barely grow at all.

While external factors play a role, most companies’ growth problems are self-inflicted: Too many firms approach growth in a highly reactive, opportunistic manner.

The Solution

To grow profitably over the long term, companies need a strategy that addresses three key decisions: how fast to grow (rate of growth); where to seek new sources of demand (direction of growth); and how to amass the resources needed to grow (method of growth).

Perhaps no issue attracts more senior leadership attention than growth does. And for good reason. Growth—in revenues and profits—is the yardstick by which we tend to measure the competitive fitness and health of companies and determine the quality and compensation of its management. Analysts, investors, and boards pepper CEOs about growth prospects to get insight into stock prices. Employees are attracted to faster-growing companies because they offer better opportunities for advancement, higher pay, and greater job security. Suppliers prefer faster-growing customers because working with them improves their own growth prospects. Given the choice, most companies and their stakeholders would choose faster growth over slower growth.

Five elements can move you beyond episodic success.

  • Gary P. Pisano is the Harry E. Figgie Jr. Professor of Business Administration at Harvard Business School and the author of Creative Construction: The DNA of Sustained Innovation (PublicAffairs, 2019).

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IBM Reopens Its Frozen Pension Plan, Saving the Company Millions

The company has stopped making contributions to 401(k) accounts, and instead gives workers cash credits in a new version of its old pension plan.

An illustration of an old computer that's melting, with IBM on the screen.

By Jeff Sommer

Jeff Sommer writes Strategies , a weekly column on markets, finance and the economy.

Traditional pension plans haven’t come back. But the news from IBM might lead you to think so.

Last month, IBM thawed out a defined benefit pension plan that it had frozen more than 15 years ago. The company has also stopped making contributions into employee 401(k) accounts.

These moves are startling, because, on the surface, at least, IBM seems to be reversing a decades-long trend of corporations moving away from traditional pension plans. With the old plans, companies promised to pay employees retirement income that rewarded them for long years of service. But these plans were expensive, and IBM and hundreds of other firms instead began to emphasize 401(k)s that moved the primary responsibility for saving and investing to workers.

IBM’s new approach is significant because the company has been a leader in employee benefit policymaking. What it is doing now is no simple return to the classic cradle-to-grave benefits system. In fact, IBM’s new pension plan isn’t nearly as generous to long-tenured employees compared with its predecessor.

The move has real advantages for some people who work at IBM, particularly those who put little or no money of their own into 401(k)s and who stay at the company for a relatively short while.

Crucially, IBM’s maneuver is likely to be wonderful for its shareholders. The company is saving hundreds of millions of dollars a year by stopping contributions to employee 401(k) accounts. And it doesn’t need to put any money into the pension plan this year — and, probably, for the next few years — because it has plenty of money already in it. On a purely financial standpoint, IBM is improving its cash flow and bottom line.

For a small but important subset of companies — those with fully funded, closed or frozen pension plans — IBM’s move could be a harbinger of things to come, pension consultants say. IBM is using a surplus in its pension fund to simultaneously change its employee benefits package and help the company’s finances.

“You’ll be seeing more of this,” said Matt Maloney, a senior partner at Aon. “But I don’t think it’s really a watershed event because not that many companies are in a position to do what IBM is doing.”

Retirement Basics

IBM calls its new pension plan a “retirement benefit account.” It is nestled, legally and bureaucratically, within the old version. Because it’s part of the defined benefit pension plan, the new plan is backed by the government’s Pension Benefit Guaranty Corporation , which will pay benefits , up to certain limits, if the plan runs out of money or the employer goes out of business.

Unlike 401(k)s, in pension plans the employer makes “the contribution, owns the assets, selects the investments and bears the investment risk,” said Alicia Munnell, the director of the Center for Retirement Research at Boston College.

Employees are immediately vested in the new IBM plan, and can take their money with them when they leave, IBM says. So far, so good.

But for many employees, the change comes at a cost.

IBM will no longer make contributions to employee 401(k) plans. Until now, it made 5 percent matching contributions and 1 percent automatic contributions, according to internal documents that were posted publicly and whose authenticity Jessica Chen, an IBM spokeswoman, confirmed. That money and those accounts are owned by employees. It took a year for employees to be vested in those accounts.

The new retirement benefit accounts are part of a so-called cash balance plan, a pension plan in which the employer controls how the money is invested.

In the new IBM accounts, employees receive credits equal to 5 percent of their salary — 1 percentage point less than the company’s maximum contribution to the 401(k) used to be. For the first year only, employees are getting a 1 percent salary bump to make up for the discrepancy in contributions between the old 401(k) and the new retirement accounts.

Risk and Return

IBM documents show that in the new accounts, employees are guaranteed a return of 6 percent interest for the first three years — an excellent rate under current market conditions.

From 2027 through 2033, the return is likely to fall. Employees will receive the yield on 10-year Treasuries, with a floor of 3 percent. From 2034 on, there is no floor. So if Treasury yields fall below 3 percent — as they were most of the time from late 2008 through early 2022 — a paltry return is all that employees will get.

Remember, in a 401(k), employees are free to invest as they like. People with a long investing horizon can favor the stock market, which tends to produce higher returns than government bonds over long periods.

Although IBM workers can keep their 401(k)s and continue to add money to them, they won’t have the inducement of a company match. How many will continue to contribute remains to be seen. In the new accounts, employees are receiving only fixed-income investments.

That may be fine for people in retirement, but it’s questionable for those with years to come in the work force. Employees may need to increase the equity allocations in their 401(k)s or other accounts.

The Background

At the peak for defined benefit plans, in the 1970s, as many as 62 percent of workers in the private sector were covered solely by these retirement plans, according to the Employee Benefit Research Institute, an independent organization that researches retirement issues.

By 2022, the institute found , only 1 percent of private-sector wage and salaried workers had just a defined benefit plan, while 41 percent participated in only a defined contribution — or 401(k) — plan, and 8 percent participated in both.

Underfunding of corporate pension plans led to the great shift away from defined benefit plans. At first, 401(k)s were supplementary savings vehicles for employees. Now, along with Social Security, 401(k)s have become core elements of retirement.

By closing the old defined benefit plans to new workers and by freezing benefits for people already enrolled in them, companies reduced their potential pension liabilities. They poured money into the old retirement plans to bring them into compliance with government rules, which were relaxed to give companies relief .

But canny management and cooperative financial markets have helped increase plan funding, too. Because pensions are a form of annuities, the increase in interest rates over the past couple of years has made it cheaper to finance existing pensions. On top of that, strong stock returns over the past decade have bolstered fund assets.

These factors have led to a sea change in the funding of the old corporate pension plans. (Public pension plans, on the other hand, face an estimated $1.45 trillion funding gap, according to the Pew Charitable Trusts .) For big companies, the average defined benefit private plan now has more than enough money to pay off its pension obligations. For defined benefit pension plans at S&P 500 companies, Aon says , funding levels rose to 102.7 percent on Feb. 6 from 78.4 percent in 2011.

The Bottom Line

IBM’s defined benefit pension plan is now extremely well funded. Its annual report shows that it had a $3.5 billion surplus in the plan last year, while it paid $550 million annually in 401(k) contributions. It doesn’t need to put fresh money into the pension plan and now, with the shift to the new retirement benefit accounts, it isn’t making 401(k) contributions either.

Professor Munnell estimated that IBM would be able to credit employees with benefits in the new accounts for at least the next six or seven years. Several pension consultants said that if market conditions were favorable, and IBM invested the $3.5 billion surplus at a higher rate of return than the fixed-income rates it was offering employees, it might be able to avoid deploying any cash on these benefits for many years.

The company said its retirement innovation was improving its finances. In an earnings call on Jan. 24, James J. Kavanaugh, IBM’s chief financial officer, said the company’s cash flow was better this year, in part because of “lower cash requirements driven by changes in our retirement plans.” That could be true for years to come.

Other companies with frozen plans that are fully funded could follow IBM’s lead.

This isn’t a return to the richer benefits for long-tenured employees provided by traditional defined benefit plans.

But perhaps cash balance plans combined with 401(k)s are the best that most big companies are likely to be offering. If so, Zorast Wadia , a principal and consulting actuary at Milliman, the pension consultant, suggested, there are a variety of ways of designing retirement packages that make use of pension plan surpluses. Unlike IBM, for example, some companies could continue their 401(k) contributions while starting cash balance plans.

Finding ways to use well-funded pension plans generously but responsibly is a challenge for big companies. IBM has moved cautiously. But it’s in nobody’s interest for companies to make pension promises that they can’t keep.

Jeff Sommer writes Strategies , a weekly column on markets, finance and the economy. More about Jeff Sommer

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How Tarek El Moussa turns outdated properties into luxury homes

  • Tarek El Moussa spoke to BI about flipping luxury homes.
  • Focusing on the details, like cabinet material and flooring, is crucial in elevating high-end homes.
  • Creating a custom feel with unique elements in kitchens and bathrooms is essential, too.

Insider Today

Tarek El Moussa is peeling back the curtain on luxury homes.

The HGTV star started his flipping career updating modest family homes in California with his ex-wife, Christina Hall, on their series "Flip or Flop."

But today, his business has grown, and he has moved on to flipping million-dollar homes with his company, Tarek Buys Houses, and his wife, Heather Rae El Moussa, as he documents for their series "The Flipping El Moussas."

Much of the process of flipping a home is the same, no matter what kind of house it is. However, in an interview with Business Insider about his new book, " Flip Your Life ," El Moussa said there are a few key differences in updating a luxury home.

The details make the difference

According to El Moussa, "details and texture" are the key to elevating high-end homes.

"To make houses stand out, you can't just have drywall everywhere," he said. "You gotta have wallpaper, you gotta have molding, you have to have paneling."

He added that going the extra mile with ceilings is important, pointing to wood paneling and other luxury materials to create a cohesive feel.

El Moussa told BI that kitchens are also essential to solidifying a home's luxury feel .

For instance, he and his team incorporate custom cabinetry and islands made of marble slabs to take their kitchens to another level.

Likewise, it's becoming more common for luxury homes to have two kitchens so people don't have to entertain in the same space where they cook and clean.

Don't forget the floor plan

El Moussa also said that open-concept floor plans remain a must-have for luxury homes, though other experts told BI they're becoming less appealing to some homeowners because the lack of defined areas can be difficult for day-to-day living.

But luxury owners still love the trend, which can lead to a lot of work during the flipping process, El Moussa said.

"The big thing is really opening up floor plans," he said, as luxury owners want the wow factor an open space creates. "A lot of times when we're going into these houses, they were developed or built years ago, and in order to modernize them, we might have to move a bathroom or move a wall or expand the master suite."

But he said it's worth it to create the one-of-a-kind feel high-end buyers are looking for.

"It's all about the details and making a home feel custom through custom closet doors, custom wooden doors, custom cabinets, and high-end shower tiles," El Moussa said.

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Business | the savings game: choosing between traditional medicare and advantage.

Elliot Raphaelson: When you reach 65 and become eligible for Medicare, you will be faced with an important decision. Should you enroll in traditional Medicare with a Medigap supplement, or should you choose Medicare Advantage?

When you reach 65 and become eligible for Medicare, you will be faced with an important decision. Should you enroll in traditional Medicare with a Medigap supplement, or should you choose Medicare Advantage?

A new report prepared by the Employee Benefit Research Institute can help.

Don’t base your decision on television ads. For example, you will see many ads for Medicare Advantage and almost none for traditional Medicare. Insurance agents receive higher commissions for Medicare Advantage options; that is a bias you should be aware of.

The EBRI report estimates that a couple enrolled in traditional Medicare with a Medigap supplement will need $351,000 to have a 90% chance of covering their medical expenses in retirement. The report also indicates that a couple enrolled in a Medicare Advantage plan, run by private insurers, will need $189,000.

These cost estimates do not cover long-term care costs, assisted living costs or home health aides — none of which are covered by Medicare.

Based on these cost estimates, it appears that the Medicare Advantage option seems more cost-effective than the traditional Medicare plus Medigap option. However, you should not make a decision based only on averages.

When you enroll in traditional Medicare with a comprehensive Medigap option, your monthly costs will be higher than a Medicare Advantage option, but almost 100% of your medical costs will be covered. The Medigap supplement covers the 20% of medical costs that Medicare Part B does not cover.

The EBRI cost estimates include Medigap premiums, Part D costs for prescription drug coverage, Part B deductible, and out-of-pocket costs for outpatient prescriptions. You will not have co-pay expenses, or extra costs for seeing a specialist.

The monthly premium for most enrollees of Part B coverage for 2024 will be $174.70. Based on my experience with traditional Medicare with Medigap G coverage and a Part D prescription policy, you will not be facing unexpected medical costs, even with extensive hospital stays.

With a Medicare Advantage plan, the EBRI report assumes no premium cost as 73% of Medicare Advantage plans have no premium cost, according to Kaiser Family Foundation. However, with Medicare Advantage plans, you will incur co-pay costs, additional costs for specialists, and out-of-pocket expenses that can be higher than the average cost included in the EBRI study.

For example, in 2024, the out-of-pocket maximum for in-network care in 2024 is $8,850. The maximum can vary with the plan. Co-pays for special hospital procedures such as MRIs can be considerable. If you use out-of-network care, your plan may not cover any of the costs.

The bottom line is that a Medicare Advantage plan may not be cost-effective if your health deteriorates.

Unfortunately, no one can predict future health needs. If you do sign up for a Medicare Advantage plan, and your health deteriorates, and you are facing extensive hospital procedures, you may not be able to switch to traditional Medicare with a Medigap plan.

The best time to enroll in a Medigap plan is during the Medigap Open Enrollment Period. This six-month period begins the first month you have Medicare Part B (Medical Insurance) and you are 65 or older. After this enrollment period, you may not be able to buy a Medigap policy, or it may cost more.

Use an agent who is independent, and not one who is only interested in selling you one type of policy with one company.

An excellent source you should consider before making a decision is your State Health Insurance Program There is a SHIP organization in every state. There is no fee for their services. I volunteered with SHIP for many years. The volunteers are well-trained and unbiased.

You can read a summary of the EBRI report at: https://www.ebri.org/publications/research-publications/issue-briefs/content/projected-savings-medicare-beneficiaries-need-for-health-expenses-increased-again-in-2023.

Elliot Raphaelson welcomes your questions and comments at [email protected].

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IMAGES

  1. Candle Making Business Plan Template Sample Pages

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  2. Candle Making Business Plan Template Sample Pages

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  3. Candle Making Business Plan Template Sample Pages

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  4. Candle Making Business Plan Template Sample Pages

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  5. Candle Making Business Plan Template Sample Pages

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  6. Candle Making Business Plan Template Sample Pages

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VIDEO

  1. Planning To Start My Own Candle Business

  2. If I Planned to Start a Candle Business in 2023

  3. How to Start a Candle Business

  4. DIY candle making #diy #candle #candlemaking #diyideas #asmr #aesthetic #home #decor #shorts #fall

  5. How To Start Candle Making Business From Home From Where to Buy Candle Making Material

COMMENTS

  1. Candle Making Business Plan Template [Updated 2024]

    Written by Dave Lavinsky Candle Making Business Plan Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their candle making businesses. On this page, we will first give you some background information with regards to the importance of business planning.

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    1. Put a Plan Together 2. Register Your Candle Business 3. Prepare To Make Your Product 4. Build a Website 5. Choose Additional Channels To Sell Your Candles 6. Calculate Your Sales Price...

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    Below is a template to help you create each section of your Candle Making business plan. Executive Summary Business Overview The Countryroad Candle Company is a startup candle manufacturing company located in Augusta, Georgia.

  4. How To Start a Candle Business in 2024 (Guide and Examples)

    Dec 8, 2023 Start your online business today. For free. Start free trial If you're an entrepreneur who is eager to burn the midnight oil with a new business venture, we've got a potential business idea for you: selling homemade candles.

  5. How to Start a Candle Business

    Step 1: Perfect your craft When a candle is good, it can help you destress, add a decorative flair, or set the mood. But when a candle is bad, it can be a disaster. A candle can smell too...

  6. The 2024 Blueprint for Starting a Candle Making Business

    Step 1: Decide if the Business Is Right for You Pros and cons Every business has its pros and cons, and it's a good idea to weigh these factors to decide if starting a candle business is a good fit. Pros Flexible - Set your own schedule and work when you want. Rewarding work - Chasing your passion, expressing your creativity in candles.

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    about us accessibility careers get in touch send us a message returns Wondering how to start your own candle business? We'll help you decide if a candle making business is right for you, and go over the steps to get started.

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    Step 1: Develop your candle making skills Before you can start selling candles, you need to know how to make them. Jazmin explained what you'll need and how to accomplish it in our interview. Let's look at what you'll need to get started. Acquire tools and materials for candle making

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    Write a business plan Make your business official Create your startup inventory Create your online store Develop your marketing strategy 01. Master the craft of candle-making The first logical step is to get familiar with the process of creating a candle.

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    1. Perform market analysis. Starting a candle making business requires a thorough understanding of the market to ensure your products meet customer demands and stand apart from the competition. Here is a step-by-step guide to perform a market analysis, setting the foundation for a successful candle making venture.

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    1. Make a business plan. This will help you map out your goals and strategies for your business. A candle-making business plan should cover a variety of areas, including candle manufacturing, market analysis, key competitors, marketing plan, financial plan, and more. 2. Find customers.

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    Download Template Create a Business Plan Growing demand, low startup costs, high margins, and a diverse market make candle-making a great business choice, especially for those who enjoy DIY projects and artistic expression. However, starting a business with proper planning can ensure your business is safe.

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    Outline your operations, or how you're going to run your business. Outline any legal information, like how you're going to insure your business. Describe your staffing and your management structure. Create a budget for both short term and long term. Describe where you will be conducting business, whether at home or in a physical storefront.

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    Lastly, create a detailed breakdown of your starting capital, cost of sales, and projected profits. If you need investment money, you should also include how much money you need, its purpose, and repayment terms. 2. Choose a Name and Register Your Candle Business.

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    A candle-making business plan outlines the vision and goals you have for the business. It gives you an understanding of your industry and market to set you up for greater success. Using a candle-making business plan template is highly recommended, as it allows you to add your information without missing any important details. Executive Summary

  18. Candle Making Business Plan [Sample Template]

    1. Industry Overview Candle sales in the united states have improved especially as there is an increasing variety of colored and scented candles, with 7 out of 10 households in the United States making use of candles. More and more people are demanding for candles as an addition to their homes for various reasons both abroad and domestically.

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    Value Proposition One-Page Business Plan SWOT Canvas If you're looking to start a candle making business, now is the perfect time! According to Statista, the candle market is expected to grow at a CAGR of 6.73% from 2020 to 2025. With more people staying at home and looking for ways to create a cozy atmosphere, candles have become a popular choice.

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    Image Source Candle making business plan Requirements to start a candle-making business To start a candle-making business, you will need supplies and materials. First, you will need wax. You can choose to use paraffin wax, soy wax, beeswax, or a blend of these waxes. Then, you will need wicks.

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    Table of Contents. How to Write a Candle Making Business Plan: Describe your business structure. Make legal decisions, including how you're going to insure your business. Create your staffing and management structure. Create a budget—short term to get started, and long term to thrive.

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    Business Plan. A well-crafted business plan is crucial for guiding your candle business towards success. Your business plan should include the following components: Executive summary: Provide a concise overview of your business, including its mission, vision, and unique selling proposition.

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  29. The Savings Game: Choosing between traditional Medicare and Advantage

    The monthly premium for most enrollees of Part B coverage for 2024 will be $174.70. Based on my experience with traditional Medicare with Medigap G coverage and a Part D prescription policy, you ...

  30. How To Start a Candle Business in 2024 (Guide and Examples)

    Create a candle business name; Write a business plan; Make candles to sell; Build your online store; Create a marketing plan; Do market research. Your target market are the people you want to reach with your marketing efforts. These are the buyers who will be most interested in your products and most likely to convert to customers.