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Candle Making 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.
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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- Fill in the blanks – Outline
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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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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.
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:
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:
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.
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.
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
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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Candle Making Business Plan Template Sample Pages
Thank you for viewing our candle making business plan template sample pages. This candle making business plan was written specifically for the candle industry and contains a full table of contents, example text, red instructional text, and references. Use this business plan template as a basis/foundation to create your own business plan upon.
Please scroll down below to view sample pages of the exact candle making business plan template you will be receiving.
Or Click here to learn more about this business plan template.
To learn more about this candle making business plan template click here.
- Candle Business Plan Template(Microsoft Word) – $47.00
- +Add Excel Worksheet (Recommended) – $35.00
- +Add Funding Package Pitch Deck PowerPoint + 4 funding eBooks – $55.00
- +Add Raising Capital Documents Bundle. 115 documents – $85.00
Add these other Do-It-Yourself items as needed: (Financial worksheet in Excel is highly recommended)
Candle Making Financial Worksheet in Microsoft Excel an add-on option . (highly recommended) to calculate your finances. Investors love numbers and this excel worksheet will allow you to enter financial data specific to your business to produce proforma financial statements for use in your business plan. These Excel worksheets (Set-up, Start-up, Sales, Headcount, Inventory, Operating Expenses, Capital Budget, Equity & Debt, and Amortization Schedule) contain instructions, questions for you to answer, and boxes (cells) for data entry. Cells in which you are to answer questions or enter data are yellow. Purple cells contain formulas that will be calculated automatically.
Candle Making Funding Package an add-on option . (A must have if actively seeking investment) Includes a Microsoft PowerPoint slideshow template “Pitch Deck” to show lenders and investors your concept at a glance. It includes 12 slide candle making images with instructional text for you to insert your specific business information into.
This funding package also includes the Funding eBook bundle to educate you on your funding options and how to best present your business concept. These 4 eBooks guide you through individual interventions, second-party arrangements, corporate funding options, government interventions, managing business cash-flow, quick start funding overview, exit strategy, common mistakes to avoid when pitching your concept and much more.
Candle Making Business Startup and Raising Capital Documents Bundle an add-on option . 115 documents. (Investors want to know you are prepared. Show them you are with these professional business documents.) This 3 pack of business documents covering business assessment, startup and raising capital topics includes documents such as: Business Plan Guidelines, Strategic Planning Checklist, Trend Analysis Checklist, Executive Summary Template, Market Study Outline, Business Analysis Worksheet, Board of Directors Documents, Confidentiality Agreements, General Administration, Basic Financial Checklist and much more 115 documents in total.
Click here to view more details of this candle making business plan template.
Thank you once again for viewing our candle making Business Plan Template Sample Pages. This template should best be used as a basis to create your own professional business plan with.
Unlike other on or offline business plan “software” that just inserts your information into a generic template this candle making business plan template was written specifically from the ground up for the candle industry.
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Candle Making Business Plan Template
Do you want to start candle making business?
Are you planning to start candle business ? What many people do not know is candles still remain popular even today despite the fact they were primarily introduced for illumination purposes. Candles have been there for centuries and used in different civilizations and cultures. Even with the introduction of electricity, the role of candles has been redefined and they still continue to be an important item in any home or business. In the U.S. 7 out of 10 households use candles meaning the market is still excellent. Uniquely branded candles are the most popular home décor items which are on very high demand. Fortunately, candle making is not a capital intensive business and with a good business plan, you can be successful.
2.1 the business.
The candle-making businesses will be registered under the name Wax Glow Candle and will be situated in Houston, Texas. The business will be owned by Susan Cook who is an experienced chandler. This business plan outlines how to start a candle business step by step to help anyone interested in venturing into candle making.
2.2 Management Team
Prior to starting candle business , Susan Cook worked as a professional Chandler and boasts of 20 years’ experience in the candle-making industry. She is extensively knowledgeable having worked for large and reputable organizations in the course of her career.
2.3 Customer Focus
Susan has worked in the candle and scent industry for long and therefore, has an in-depth understanding of customer patterns and segments. Given her long career in the business, she is aware of the changing customer trends and which market segments are in need of unique candle brands. She’s also aware that customers are primarily looking for uniquely branded homemade candles.
2.4 Business Target
Susan Cook knows where she needs to concentrate her efforts in order to maximize the revenue for her candle making businesses . Her intention is to proactively reach out to all segments in need of unique candle products. Her target is to be the best and most reputable candle making business in Houston as she knows she has knowledge her competitors might not be having.
3.1 company owners.
Susan Cook is an experienced chandler with extensive skills and experience in candle making. Before thinking of starting a candle company , she worked for big brands across the United States such as Proctor & Gamble as well as SC Johnson & Sons among others. She took a major role in making key decisions for the various departments she worked for quickly rising to top managerial level because of her commitment and professional skills. After working for twenty years, she decided it was time to venture into entrepreneurship.
3.2 Aim of Starting the Business
Even though candles have been there for centuries, they are still relevant to date meaning there is still rising demand from both households as well as businesses. Having been in the business with a clear understanding of how candles continue immensely influence the modern society, Susan Cook began to plan how to start a candle company that would effectively address the needs of today’s society.
3.3 How the Business will be Started
Wax Glow Candle will begin operations after a comprehensive market research has been completed by the relevant experts. In order to be successful, Susan knows her knowledge and experience will be a great asset that will be instrumental in making strategic decisions that will spur business growth. She has also worked closely with a team of financial experts to formulate a detailed financial analysis for the business.
Services for Customers
Wax Glow Candle plans to offer a wide variety of products and service in order to increase its competitiveness and get a larger market share. Susan knows the secret to start a candle business and have it succeed is to embrace creativity and offer clients a unique range of products. Given her experience and studying market trends, Wax Glow Candle is in a perfect position to capitalize on its strengths to achieve its business goals and increase revenue. The following products will be offered by Wax Glow Candle.
- Signature Scented candles with various fragrances such as strawberry, vanilla, cinnamon and mulberry among others
- Candle holders which come in a beautiful and vast array of types and designs
- Luminaries that are available in different sizes and colors
- Various types of Melting oils
Marketing Analysis of Candle Making Business
Despite candles being around for numerous centuries, they still play a vital role in today’s society. Aside from illumination, the era of scented candles and fragrances has ushered in a new perspective and the market it constantly looking for unique and creatively made candles for use in homes, businesses and special occasions. In this business plan for candle making , Wax Glow Candle has done an extensive market analysis and identified untapped opportunities to harness in order to grow business revenue.
5.1 Market Segment
For Wax Glow Candle to realize its dreams, the candle making businesses has identified the appropriate customer markets to advertise its products and services. Any candle making business plan sample should clearly outline who potential customers are and how the business intends to establish connections.
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Houston is a large city with over a million households which is a key market for Wax Glow Candle. The first customers for candles are households and residential establishments who use them for various purposes. Even though candles in the home are rarely used for illumination, many homes still buy candles for various purposes such as decoration. Scented candles have become a leading product for households and Wax Glow Candle has an opportunity to put in place creative marketing strategies to reach a wide population segment. When starting your own candle business , the domestic market is a key segment that cannot be ignored considering most of the products from Wax Glow Candle are tailored for domestic use.
5.1.2 Gift Shops
Nowadays, many people consider unique candles as an awesome gift item which can be presented on various occasions. In most gift shops, you will find various types of unique candles and associated accessories which are sold primarily as gift items. Houston has a large number of gift shops and it’s important for Wax Glow Candle to find ways of forming partnerships with local gift shops with an aim of stocking their products in gift shops. Because they have direct access customers, gift shops can be of great benefit and help the candle making businesses to reach its revenue targets.
5.1.3 Hotels and Restaurants
The hospitality industry is a key use of candles which are placed in various sections of hotels and restaurants. Exclusive restaurants and hotels love using candles on their dining tables and bathrooms to create a relaxing and elegant environment. Hospitality based businesses are always in need of good quality and unique candles to be utilized for various purposes.
5.1.4 Beauty and Massage Parlors
Candles are a common feature in massage and beauty parlors who invest heavily in various kinds of candles in their establishments. Houston and its surrounding has many massage parlors which are great customer prospects for Wax Glow Candle. With the right strategies put in place, candle making businesses profitable ventures include approaching business that require different types of candle related products.
5.2 Business Target
Wax Glow Candle plans to establish itself in Houston which is a major American city with plenty of opportunities that can be explored. Wax Glow Candle hopes to realize an annual sales growth of between 25%-30% in the first three years of operation.
5.3 Product Pricing
How to start a candle making business requires an extensive market research in order to find out pricing structures of competitors. This is done with an aim of coming up with a creative pricing strategy that will attract customers.
Wax Glow Candle intends to come up with an effective marketing strategy to enable the candle making business reach out to all its intended customer targets. If you want to start a candle making businesses , there must be a good plan in place that will help you reach out to as many prospective clients as possible.
6.1 Competitive Analysis
Wax Glow Candle has carried out an extensive market research in order to identify the most effective marketing strategies that will see the business expand its market share, compete effectively and realize its revenue targets.
6.2 Sales Strategy
For Wax Glow Candle to effectively reach out to the market, this business plan for candle making to implement the strategies below to advertise its range of products.
- Send introductory letters to businesses and stakeholders to create awareness about the candle making businesses
- Organize an opening party and invite guests from target markets to advertise the business. During the opening, offer visitors free samples of products to allow them have a feel of the quality
- Attend exhibitions and trade shows which are awesome platforms for advertising the candle making businesses
- Market the business on social media platforms such as Facebook, Twitter and Instagram. Advertise the business online using Google Ads.
- Advertise Wax Glow Candle on local directory listings
- Create a simple search engine optimized website to boost the online presence of the candle making businesses for purposes of gaining higher online rankings
- Advertise Wax Glow Candle on local broadcast and print channels such as newspapers, TV and radio
6.3 Sales Forecast
How to start a candle business should entail a comprehensive sales forecast that will spell out the roadmap for Wax Glow Candle.
If you’re planning on starting a candle making businesses , the first thing to think about is to find a team of qualified staff who will assist in running the business. Susan Cook intends to hire a competent team of staff to work in various departments. A personnel plan has been formulated to come up with the best strategy for business of hiring qualified and experienced staff.
7.1 Personnel Plan
To help the candle making business realize business success, the following team of staff will be employed to work in Wax Glow Candle. Susan Cook who is the owner of the candle making businesses will be the Chief Executive Officer in charge of the entire business. She will be assisted by the following team of staff.
- 1 Assistant Manager
- 2 Sales and Marketing Executives
- 1 Customer Service Executive
- 2 Chandlers
- 1 Accountant
Successful applicants will undergo comprehensive training a few weeks before the business officially opens its doors to the public.
Wax Glow Candle has come up with a detailed financial plan which is critical for starting a candle business . To ensure candle making business profit is a reality, it is critical to analyze and document various financial parameters before opening a business. Susan Cook intends to raise money for her business using her personal savings. Additionally, she plans to bring on board 2 investors and a bank loan for business plan to finance the budget deficit. candle making businesses profit margin will be determined depending on how the business will excel.
Below is a comprehensive financial analysis for Wax Glow Candle.
8.1 Important Assumptions
The financial forecast for Wax Glow Candle is based on the assumptions below.
8.2 Brake-even Analysis
Wax Glow Candle brake-even analysis is shown in the graph below.
8.3 Projected Profit and Loss
8.3.1 monthly profit.
8.3.2 Yearly Profit
8.3.3 Monthly Gross Margin
8.3.4 Yearly Gross Margin
8.4 Projected Cash Flow
Below is a summary of Wax Glow Candle Pro forma cash flow, subtotal cash received, subtotal cash spent, subtotal cash from operations and subtotal cash spent on operations.
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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
Customer Service Executives
E-commerce and web content Manager
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.
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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