Well, you have already gathered some hot concepts of starting home business. Have you ever thought of candle making business from home? For many, it is a real fun to give shape of variety of candles using wax, gels, colors, scents etc. If you know how to make candles but not enough confident to launch it as home business, this article would guide you with the helpful tips and resources.
Candle is such a useful item that has no other matching substitute till date. Earlier, it had only been used as a source of light but in modern times, candle has other utilities too. These are the indispensible part of birthday parties, burial processions etc. Candles have a wide usage in religious occasions also. Many people have also started using it as home décor. It is no longer an essential piece thanks to the wide presence of electricity but the popularity and the demand remains the same. Then why not candle making would be a business option for you? It would be an exciting way to utilize your creative skills and business mind both.
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So, planning is completed and you are eagerly waiting to step into this rewarding venture. Wait a while… just check the following points that are extremely helpful to set up and flourish your candle making business legally.
Point 1: Learn the niceties on making candles
As you are starting the candle making business from home, you should become skilled at its different technique. It is rather necessary to make this type of small scale production profitable. The best way to learn the process of making candles is to take a in-person class in your locality or join an online course. You can surf the internet for free tutorials or books on candle making. Here, you will find various candle making forums where you can post your queries and successful entrepreneurs will answer them and share their experience and useful tips. Undoubtedly, it is an effective way to learn the procedure in detail.
Point 2: Choose the sort of candles you would like to make and sell
Select the type of candles you want to make for the consumers. If you are completely new in the business, it would be best to target one or two products of your choice. If you are adept in making candles, then you can arrange the product line of your choice. Materials and your creative mind both are important when deciding on the type of candle products.
Point 3: Keep on practicing to be perfect
It is well-known that practice makes us perfect. So, before going to produce the candles commercially, start practicing the technique you think you are good at. When you are completely involved in it, several ideas come up to your mind and you can improve your product line also.
Point 4: Arrange you work station with the materials and equipments
At first, decide in which section of your home can be used as your work station. It may be the garage or a used room where you can assemble the entire candle making essentials like wax, colors, molds, wicks, melting pots etc. The place should be wide and well-lighted. There should be enough storage space to pile up the raw materials and also the finished products. As you are dealing with flammable supplies, you need to have a fire extinguisher.
Point 5: Make your candle making business legal
To legitimize your candle making business,
- Consult with an attorney: In the beginning, an attorney can help you to become knowledgeable about laws and regulations of your local and state government. He will complete the appropriate paperwork and help you to get the requisite licenses and permits for your home business. He also provides guidance on tax and insurance related issues.
- Select a business name and the business structure: Give an appropriate name to your business and register it to the local authority. It is equally important to decide its structure i.e. whether it would be a sole proprietorship business or partnership or LLC (limited liability Company).
- Obtain the necessary licenses and permits: Now you should apply for the assumed name certificate, EIN, Tax Identification Number etc. Since you are going to run a retail business, you need certain permits and each city has its own rules and regulations. It is better to inquire at your city clerk office com about the home occupation permit.
- Open a business account: You should open a separate bank account for the business purpose. It would definitely help you to keep track of your business-related expenditure, transactions, deposits etc.
- Pay off both the federal taxes and state taxes: Using the Electronic Federal Tax Payment System, you can make deposits for your federal taxes. In case of state taxes, you should talk to your state authority to aware of its requirements.
Point 6: Prepare a list of candle making supplies
As you are setting up a business, you will need to purchase a good quantity of candle making supplies. Initially, you may contact to your local vendors to stock up items like wax, dyes, gels, additives, fragrances, molds, wicks etc. It would help you to make a well-built relationship with them and in future, they may allow you to display your candles in their stores.
As the business expands, you should search for wholesale suppliers. As you will buy at large quantities, they will give you a good deals and feasible payment options. It would positively add a value to your candle making business.
Point 7: Calculate the initial investment:
Being a home business you have got the chance to avoid wasting the money to rent an area or space. Initially, you need to buy a few equipments like double boiler, stainless steel scoop, and pouring pots along with wax, gels, dyes, fragrance oils, wicks, and containers. The start-up cost may vary depending on the type of candle you would like to start out with. If you find any wax suppliers in your locality, you can save the shipping charges of wax as it weighs too much.
Point 8: Fund your business
If your plan is to set up a candle making business from home and produce candles on small scale, you should use your personal savings. Otherwise, you may apply for government loans or grants.
Point 9: Get the Demands and Produce
While thinking of home business you’re facing an additional challenge to sell your products as you are having no company house to figure out the market demand. The simplest way to reach your prospective customers is to ensure the quality of the product. Don’t compromise with it. At the starting phase, try to concentrate on making those candle items that have demand in the market. Make it cheaper than the others available in the market .It is a decent plan to find the color and fragrance that the majority is tempted to. It’ll be wise to not think about profit. The standard and your dedication can work for you initially.
Point 10: Sell your products
Now it’s time to sell your candles.
- Design a logo and establish your brand: you should design a simple but meaningful logo that correlates your business with the customers. You have already chosen a creative name for your business and now you get a logo. They together make a brand name and aid in establishing your brand in the market. Next, you can make informative business cards using the brand name.
- Participate in craft fair: Taking part in local craft shows is one of the easiest ways to reach your customers directly.
- Promote through local craft-store: It would be relatively easier to sell the products through local craft stores. You may approach them with a request to display your candles in their store. They take a small commission when your stuff sells. Sometimes, they would purchase the stuffs outright and put on view for selling in their stores.
- Go online: You will find a lot of potential buyers when you are online and having your own website. Sure, the website needs to be updated with always fresh photos of your candles. In recent times, a great number of people want to have these stuffs by placing online orders.