Candle Making Business Plan

Candle Making Business Plan-59
Check your competitors' pricing to determine whether your prices are competitive.

Check your competitors' pricing to determine whether your prices are competitive.

You will need a heat source that does not rely on open flame, a well-lighted workspace, room to set up an assembly process, and adequate storage space for your supplies.

You will also need a climate controlled environment for storing your finished candles, as well as an area designated for packaging.

Be sure to purchase the correct type of fire extinguishers, or a fire-suppression system.

Hot wax is volatile, and an accidental spill can quickly become a consuming blaze!

This start up guide provides both the steps and resources needed to launch a candle making business.

Decide what kind of candles you want to make and sell.Research your city fire codes, obtain all necessary permits, and speak with your insurance representative.If you should have a fire and authorities determine that your business was operating outside the law, your liability could be great.As an accomplished candle maker you may already have a number of your supplies on hand, but you will still need stock up on quantities.Consider the following shopping list of supplies and adapt it as needed.Shoestring Profits estimates that you will need an initial investment of only 0-0, while Entrepreneur suggests a starting budget of ,000.Many people fund small start-up businesses out of their own savings or take an advance on an existing credit card.They will feel more comfortable buying from you, and consequently become more loyal, when they perceive that you "know your stuff." They will be eager to hear about product trends, fresh marketing ideas, environmental efficiencies, and more.The following organizations can help you to stay on top of industry knowledge.Writing a good business plan is the linchpin to establishing almost any successful small business.You will need to include market research and financial statements, as well as organizing and formatting your plan in a manner that is familiar to potential lenders and investors.

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