Whether it’s time to prepare for a romantic dinner or enjoy a relaxing soak in the tub, candles truly do a great job of setting the mood.
If you love candles enough to launch your own company, it’s more than possible to make it happen. Even though launching a business might seem intimidating, you can get it done if you implement the following steps.
Establish the Business
Depending on where you live, you’ll need to get certain trademarks and licenses to get started. Establish your business name within your local government, and get a business bank account to track all of your expenses.
When it’s time to pay taxes and take care of other business affairs, you’ll want to be recognized as a legal entity that’s operating with integrity.
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The process is slightly different in each state. That being said, you can typically work through a company online and you can submit all of the forms online as well.
Most states require a proxy company to maintain and process your information so check out your local government website for that information as well as their recommendation for what proxy company to go through.
Develop and Test the Products
While there are plenty of candle companies in the marketplace, your recipe and aesthetic are what can make your company unique.
Test different recipes to see which combinations work the best. Test different wax bases to see which one you’ll want to use for your candles.
It’s also wise to work on keeping your costs low to keep your profit margins high. Look for vendors who provide a candle-making supply to minimize your costs, for example.
If you get the supply chain as efficient and inexpensive as possible, you’ll be able to increase your profit margin.
Design Your Branding
In addition to the recipe you use to create your candles, the aesthetic side of your candles will help you sell your candles.
The audience that you want to target will highly affect your branding. For example, if your audience is interested in living minimally, then the design of your candles and your branding should be minimalistic as well.
If your audience is interested in using the candles for fun lighting at crazy parties, then the branding and design of the candle should fit in well with that environment.
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Not all of your candles need to look the same. You can create multiple catalogs of candles to reach different audiences.
When doing this, however, make sure there is a clear difference between each candle catalog. That way your potential customers can understand that clearly.
Determine Where You’ll Sell
Where you’ll sell your product is an important decision for making a profitable business. Most start-up candle-making companies consider local flea markets.
Some companies try to sell exclusively on their e-commerce website, however, this strategy will require additional marketing efforts to drive traffic to your website.
If you’re crafting handmade candles, you’ll typically be allowed to sell your products on major e-commerce sites that specialize in handmade goods.
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Websites like Etsy, for example, are a great place to start since there is a minimal fee for listing your product and the payment is processed through their system, making it super easy for business owners.
More recently, there has been a development on social media for selling products as well. You can also opt to create a business account on a platform like TikTok or Instagram.
When you create compelling content, people can purchase your candles through the platform. As your branding becomes more popular, it’s a wise idea to create your website. When you can redirect customers to your home base, it’ll help you to maintain a significant amount of the profits.
Create a Strong Marketing Strategy
Marketing is the key to making your first sale. To make more sales after the first one, marketing needs to be a continual part of your process.
In addition to running social media ads, create a strong online presence with a mix of compelling content, influencer marketing, and brand deals.
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When you’re launching a business, just know that you might make a few mistakes. That’s perfectly okay because mistakes help you learn what to do better.
Pay attention to the words of advice from successful entrepreneurs, develop your process, and launch. If you’re constantly avoiding the execution part, your business will fail.
By executing these steps and remaining consistently intentional in nurturing your new business, you’ll experience a successful launch.
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