Small Business Ideas

Candle Making For Fun and Extra Income – Make Your Dream a Reality
By Josh Gardner

We are frequently asked how a candle crafter can turn a passion for candle making into a successful business. With so many folks out of work and looking for ways to put their skills and creativity to good use, the crafter has easy access to a business that can yield significant long term income. For over five years, I’ve watched thousands of candle makers start very small. They build a part-time candle making hobby into a million dollar wholesale and retail business. So the real question is: what separates the successful candle manufacturer from the hobbyist? The salient features are (1) a well thought out business plan, (2) a solid product differentiation strategy, (3) adequate capital and (4) a strong advisory team.

I would recommend starting with a business plan. This is fundamental to the business’ transformation into a professional candle making operation. If you have never written a business plan, there are many resources available to assist you. Start with the local SBA. Free meetings with Score, the SBA retired executives group, will enable you to speak with a very experienced advisor. Talk to your friends, family and neighbors and see if they know any good books you can read that will help you think in a strategic way about your business. You can pick up many of them at the local library. Once you have a handle on business planning, put together a draft and make sure you know your financials cold. Then meet with professional advisors to make sure your plan is sound.

Another and equally important aspect is differentiation. This involves intense market research. You need to differentiate your candles from the pack; (1) find a unique glass jar or container shape that gives your candles a signature look, (2) label and package your candle containers in a visually appealing way to make a strong first impression, (3) choose stand-out fragrances and “green” waxes such as Elevance’s NatureWax C3 soy, (4) make your colors trend right for the season, and (5) give your company a polished and professional image. The results would astound you. Libbey glass containers, for example, sparkle on store shelves giving you an edge on less vibrant glass jars; C3 is designed to adhere to the glass walls in a unique way that gives your colors special vibrancy; undiluted soy-certified fragrances have great throw; a professional name and logo make your candles look like they came from a major manufacturer. The bottom line: the image is the reality!

The last and most critical component of starting a business is money. You need to have adequate capital (or credit lines) to get through the start-up phase, buy your supplies in bulk to lower your costs and increase competitiveness, and cover any slow periods where cash might be tight or you are waiting for payments from customers. Spend some time with your advisors and test your cash on hand and credit lines against your projected sales and cash receipts to ensure that you will be able to weather the chaotic and exciting start-up period of your candle business. This self-discovery and research process, although time consuming, is essential. A candle maker’s chances for success improve dramatically and most that follow this process are able to distribute their candle jars through a wide variety of retail and wholesale channels.

For information on candy jars, visit JarStore.com, a worldwide leader in wholesale bulk glass jars and candle containers.

Article Source: http://EzineArticles.com/?expert=Josh_Gardner
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Tags: Adequate Capital, Business Transformation, Candle Containers, Candle Makers, Candle Manufacturer, Container Shape, Crafter, Glass Jar, Product Differentiation Strategy, Professional Advisors, Retail Business, Salient Features, Strong First Impression, Unique Glass, Waxes

This entry was posted on Tuesday, March 3rd, 2009 at 6:46 am and is filed under small business ideas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.