Yes, it can be!
Likely, your biggest costs are going to be upfront to get your business up and running. You may run into a few mistakes along the way as you learn to create perfect candles, which could leave you with some wasted materials.
Plus, you may not have many customers at first – that’s to be expected!
Depending on how much budgeting you do when buying materials and how careful you are when making your candles, you could end up with a good profit for each one. If you’re careful about where you buy supplies from and not spending too much on packaging, the overall candle making process doesn’t cost a lot. Keep accurate records of what you spend on materials and how much you use for each candle.candle manufacturer
Do some math to figure out how much one candle costs you and how much time it takes to make. From there, you can make some tweaks to learn what you could be doing better to make a higher profit.
It’ll take time – don’t expect to be a candle making profit expert from the start.
This candle making niche study is an interesting read showing that there is a lot of room on Etsy for candle makers to earn a good profit since this niche isn’t overcrowded on the site yet.
Your Best Bet for Making a Good Profit
You’re likely looking to make the very best profit possible on your love of candle making since you’re interested in starting a business.
How can you do that?
Finding candle businesses for sale and buying one!
Think about it:
A business that’s already been around for a few years has a steady customer base if the owner’s been doing everything properly.
It’s already a known business with loyal customers and it’s obviously done things right if it’s been in business for a few years. Even though a business might be popular and doing well for itself, that doesn’t mean it’ll last forever. Some business owners just lose passion for their businesses over time and move onto other things. This can be the best time to swoop in and buy your own candle business.
Yes, it’s going to take money upfront to buy any business.
But you’ll also be buying the customers that go along with it and the inventory that’s already there. That’s a lot less work on you to try to figure out how to build a business because you’ll already have one built. If you think you can afford to make an already established business work finance-wise, then this is definitely something to consider. You should first look locally to see if anything like this exists in your area, especially if you’re interested in brick-and-mortar businesses only.
If that’s not important to you, you can spread out your search online. There is plenty of women entrepreneur Facebook groups that might help you find an online candle making the business to buy!
Online vs Local Candle Business
That brings me to my next point to consider:
Is an online candle making business or a brick-and-mortar one the best choice for you?
Really, that depends on how you want to do business.
Do you love the feel of the old school mom and pop shops?
Do you love getting to meet new people and have the feeling of community associated with your business?
Maybe you like getting word of mouth referrals from your customers or getting referrals from other local businesses.
If any of those apply to you, then a brick-and-mortar setup is probably best.
The downfall is that you’ll have a lot more overhead costs with this setup than you would be selling online.
Renting or financing a shop can set you back hundreds to thousands of dollars per month even without including everything that goes along with it, like electricity, water, toiletries if you have a public bathroom, etc. When you sell online, you’ll only need to worry about the cost of your online shop (web hosting) and your inventory. Web hosting, even for very large and busy websites, won’t usually touch the monthly expenses you’ll pay with a brick-and-mortar shop.
Unfortunately, you’ll also have to rely on getting web traffic to visit your shop, which can sometimes be a challenge.