If you want to start an online business, then candle-making can be the most affordable and convenient way to start with. It does not need huge investment because it is a low capital business and does not require costly heavy machinery to start with.
The raw materials which are required for candle-making like wax and wicks are easily available in the market, this makes the business ideal for those who want to be entrepreneurs in small-scale businesses.
Moreover, many people have attracted to handmade products and the demand for candles in the market is always high. Candles are used mostly in religious ceremonies, places of worship like temples, mosques, and churches, it is also used for decoration in wedding, parties, and restaurants.
Candles are also used as household items by those who want to decorate their homes. Let’s see the steps to start your own candle business online
Identifying the Products
First of all, you need to identify the candle you want to sell. This should be decided before you start manufacturing. In the beginning, you should start with a limited number of products, gradually as your business grows keep on adding to the variety of candles you would sell online. Candles range from decorative to scented as well as regular candles. Different customers are interested in different types of candles based on their requirements.
You have to identify your target groups and manufacture your products according to that. Your target group can be restaurants where candles are required all throughout the year for decoration and in parties, selling to religious institutions like churches in bulk can be profitable.
Once it is decided that which products you want to sell you need to get down to manufacturing. If you lack experience in the art of candle making, you can always learn from experienced people in this field and also by watching online tutorials. Otherwise, you can hire workers with experience. It is very important to source quality raw materials and identify the suppliers who are reliable and popular in the market.
The next step is to do research, you must find out where can you buy the raw materials at a wholesale rate, developing relationships with a wide variety of distributors will give you the opportunity to buy them at a cheap rate and in bulk. This will enable you to sell the end products to the customers at a profitable price.
Another important part of the research is to know about the kind of competition existing in the market. In order to differentiate your brand from the rest of the market, it becomes imperative to gain knowledge about your contenders and the brands they are selling. A customer’s perspective should be applied while having a look at the online stores that are selling candles, the type of products and brands they are selling.
You should take note of the things that attracts you as a customer and the ones which doesn’t. Apply the concepts that will make your online candle store appealing to the customers and try to avoid the ones that may lead to losses.
Fix the Brand Name
Next, you need to think about the brand name and this is not an easy job as the name should be appealing to the customers and the one to which they can relate. The name might give your brand an edge over other brands available in the market.
It is also important to build the identity of your brand by selling quality products and an efficient customer service that caters to the need of the customers. Speedy delivery is one way in which you can be a step ahead of your contenders and also addressing the grievances of customers through quick resolution.
Promotion and Website Designing
Promotion of your products through advertisements in social media platforms can boost your sales. Giving discounts and cash back a minimum purchasing price can also be helpful in making your brand popular. An experienced web designer should be hired to design the website to exact specifications.
The website design should be nice and attractive. The product details should be mentioned clearly along with the company’s belief, vision etc. In addition to that, your site must also have a shopping cart with 128-bit security encryption, customers should feel secure in making online payments on the website.
The final step is packaging your product. Customers can be attracted by the way you pack your products and present them; the candles should be in proper condition when they reach the customers. Printed plastic coverings or boxes made of cardboard can be used to keep the candles in. Colorful ribbons can make it more appear more attractive.
Budgeting and Accounting
You need to fix a budget and also have a clear-cut business plan before starting. Accounting the business will help you to remain updated about the profits earned and the losses incurred and also the financial performance of your store. Faulty and unwise investments can be curtailed if you are aware of the reasons for which you suffered losses and the avenues of generating more revenue.
Hence to conclude one can say that setting up an online candle company requires patience, skills of supervising, investing and managing. It requires patience because developing the business gradually requires time and it is important not to get swayed away by the profits and losses. You need to be aware of the preferences of customers that keep on changing from time to time.
You need to stay ahead of your competitors all the time by attracting customers by selling quality products, catering to their needs taking care of their convenience. The competitors are not restricted to the online market and extend to those selling in retail shops and common people might avail candles from those shops because they require it once in a while when they are visiting churches or temples, so your target must be those customer groups that require candles in bulk all throughout the year.
If you are willing and confident to start an online candle company it may well turn out to be an excellent venture due to low investment costs and opportunities of making money when your company gets popular and start receiving orders from renowned restaurants, churches and in parties. All you need to have is the vision of a good entrepreneur to overcome the struggles and taste success.
The candle is used for every business. So the demand of this product is never-ending. Here is the Infographic which gives you more ideas on where the candle is used.