Candle Making Business Budget

If you’ve been dreaming of owning your own business, you’ll be pleased to learn that it’s relatively easy to develop a candle making business budget you can afford.

You can turn your love of candles into a profitable business!

One of the greatest advantages to owning your own candle making business is the flexibility it offers. Depending on what type of candles you want to sell, what candle making equipment you already own, and how you want to advertise your products, you can start your business for as little as $200.

Deciding what type of products you want to sell is the typically the first step in creating your candle making business budget. For example, you’ll need to choose between making paraffin candles and beeswax candles. While paraffin candles cost less to make, many crafters have found that handmade beeswax candles are in high demand and thus have a greater profit potential.

While it may be tempting to try selling candles in every size, shape, and color imaginable, this may not be possible if you’re on a tight budget. Remember, you’ll need to buy molds, dyes, and fragrances for every type of candle you wish to sell. Molds can be between $10 and $30 each. High quality essential oils can be extremely expensive as well. Generally, it’s best to start with a limited number of candle designs and expand your product line as you begin to earn more money from your business.

If you’re already an accomplished candle maker, you should have most of the basic supplies and equipment you’ll need for your business. If not, here’s a simple checklist:

• Double boiler
• Wax
• Wicks
• Molds
• Dyes
• Fragrances
• Additives
• Candle luster spray to give your candles a shiny appearance

Of all the candle making supplies and equipment you’ll need, wax is often the most expensive. If you can’t find a local supplier, expect to pay heavy shipping costs.

In any business, you need to have a plan for how to find your customers. Do you plan to generate interest in your product by word-of-mouth referrals? Do you want to take out an ad in your local newspaper? Are you planning to post fliers around your town? Do you want to have brochures or a website for your business? Don’t forget to factor these expenses into your business budget!

If you’d like to start a candle making business on a very limited budget, the following tips can help you keep your costs down:

• Consider selling your homemade candles online. For the cost of basic web hosting, you’ll be able to reach customers from around the world.
• If you want to sell your candles at craft shows, look for shows in smaller towns that have less expensive booth rental fees. Many shoppers are willing to travel great distances to attend these events. Think of small town craft shows as an opportunity to boost your confidence before selling at events in a larger city.
• Team up with a local store that sells similar products. If you sell beeswax candles, for example, look for a partner who sells organic clothing or other natural goods.
• If you’re worried about the cost of keeping extensive inventory on hand, consider targeting the special order market. For example, many brides are ordering handmade votive candles as wedding favors. Candles are also in demand for baby showers, graduations, and anniversary parties.

If you are interested in learning more about how to start a successful candle making business, check out the following helpful websites:

• The National Candle Association
• Candle Business Corner
• Candle Cauldron
• The International Guild of Candle Artisans

You may also be interested in these books:

• Making Gel Candles Your Business by Sonny Bio
• Candle Making for Fun & Profit by Michelle Espino
• Start Your Own Crafts Business by Entrepreneur Magazine

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