Thinking About a Homemade Candle Business? Things You’ll Want to Consider
By Jo Johnstan
So, you’re considering starting up a homemade candle business. Congratulations! What’s the next step? Below you will find venues that quite often offer instructional videos, courses and programs designed to assist you with important resources to begin and improve your business, as well as helping you stay up-to-date. Be sure to take in all of what they have to offer.
1. Neighborhood craft stores
2. Community centers
3. Local libraries
4. Colleges
However you choose to investigate, do not overlook the internet as it contains a wealth of information ripe for the plucking. It will no doubt have most of the answers to questions that will arise. As with any type of trade, the success of a homemade candle business depends upon: Are you willing to put forth the continual effort necessary to create and maintain a prosperous candle making business?
Because if you are you will need:
1. To stay abreast of the latest design developments in the candle business in order to be able to continually create one-of-a-kind designs that appeal to both old and new buyers.
2. To track expenses carefully…always have an eye open for reliable and cost effective sources for materials like soy wax, beeswax, paraffin, and cotton wicks.
3. To keep up and implement the latest techniques for designing, coloring and adding fragrances and decorative pieces.
Plainly put, the main aspects of the homemade candle business are: You make your candles, you sell your candles and you get paid for your candles. Falling short in any of these functions will significantly reduce your chances of success.
To maintain a profitable homemade candle business, you must:
1. Develop a base of customers that buys in volume, as well as pays their bills on time.
2. Hold firmly to credit limits that you set for your customers…bad debts are a major demise for many companies, both large and small.
3. Establish a collection procedure and stick to it without exception…monitor your receivables like a hawk.
4. Evaluate new customers carefully and do not extend credit to those that are not credit worthy. Don’t be afraid to implement a “cash only” policy for new customers while they establish a track record.
Finally you must be very, very customer conscious. Know your buyers and what makes them tick. Ask them what they like about the way you do business and what you could do better…customers are a great source of business intelligence.
Jo Johnstan is the creator of Candle Instructions.com, an info-rich website that discusses how to make candles at home and how to use your candle making skills in developing a profitable business. For more detailed info on making beeswax candles, visit us on the web at Making Beeswax Candle.com.
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