how to write a candle business plan

Candle Making Business Plan Template

Written by Dave Lavinsky

Candle Making Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their candle making businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a candle making business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Candle Making Business Plan?

A business plan provides a snapshot of your candle making business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Candle Business

If you’re looking to start a candle making business, or grow your existing business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your business in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Candle Making Businesses

With regards to funding, the main sources of funding for a candle making business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

Personal savings is the other most common form of funding for a candle making business. Venture capitalists will usually not fund a candle making business. They might consider funding a candle making business with a national presence, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual location could never achieve such results.  With that said, personal savings and bank loans are the most common funding paths for candle making businesses.

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How to write a business plan for your candle-making business.

If you want to start a candle making business or expand your current one, you need a business plan. Each section below is a key component of a solid candle making business plan:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of candle making business you are operating and the status. For example, are you a startup, do you have a business that you would like to grow, or are you operating a chain of candle making businesses?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the candle industry. Discuss the type of candle making business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of business you are operating.

For example, you might operate one of the following types of candle making businesses:

• Scented Candles : this type of business will focus on making scented candles. This type of business can focus on traditional scented candles, or can specialize in creating unique scent combinations.
• Specialty Wax Candles: this type of business specializes in making candles from ingredients that differ from traditional paraffin wax. Other waxes include soy wax, beeswax, coconut wax, special blends, etc.
• Novelty Candles: this type of business focuses on creating candles in novelty shapes, or around specific themes such as holidays or birthdays.

In addition to explaining the type of business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of customers served, number of positive reviews, recipes tested, etc.
• Your legal business structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the candle industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the candle industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your own candle business plan:

• How big is the candle industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your candle business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: men, women, families, couples, professionals, teenagers, religious groups, party planners, homeowners, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of candle making business you operate. Clearly, couples would respond to different marketing promotions than religious groups, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most candle making businesses primarily serve customers living in their surrounding geographic area, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your potential customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other candle businesses.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes major retail stores, craft stores and decoration stores. You need to mention such competition as well.

With regards to direct competition, you want to describe the other businesses with which you compete. Most likely, your direct competitors will be retailers located very close to your location who sell candles and other local candle makers.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What types of candles do they specialize in?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide a wider variety of candles?
• Will you provide a rewards program or special discounts?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a candle making business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of candle making company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to candle making, will you provide a rewards program or another service such as adding personal messages on the candle/ jar of candle?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your candle making company. Document your location and mention how the location will impact your success. For example, is your candle business located in a busy retail district, shopping plaza, mall, etc.  Discuss how your location might be the ideal location for your customers.

Promotions : The final part of your candle making marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Reaching out to local websites
• Social media marketing
• Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your candle business, including tracking inventory, marketing your business, researching new scent combinations or designing new novelty options, pouring candles for inventory, and preparing for upcoming orders.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to sell your 1,000th candle, or when you hope to reach $X in revenue. It could also be when you expect to expand your candle making business to a new city, or launch an ecommerce site.  

Management Team

To demonstrate your candle business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in managing candle making businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in small-scale manufacturing of consumer goods or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you specialize in a limited variety of scents and shapes, or will you offer a broad array of traditional candles? And will candle sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your candle business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a candle making business:

• Location build-out including design fees, construction, etc.
• Cost of equipment and supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your manufacturing facility lease or invoices of upcoming orders you are working on.  

Putting together a business plan for your candle making business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will have an expert candle business plan; download it to PDF to show banks and investors. You will really understand the candle making industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful candle making business.  

Candle Making Business Plan FAQs

What is the easiest way to complete my candle making business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Candle Making Business Plan.

Where Can I Download a Candle Company Business Plan PDF?

You can download our candle company business plan pdf .

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of candle making business you are operating and the status; for example, are you a startup, do you have a candle making business that you would like to grow, or are you operating a chain of candle making businesses?

Don’t you wish there was a faster, easier way to finish your Candle Making business plan?

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Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.  

Click here to see how Growthink’s professional business plan consulting services can create your business plan for you.  

Other Helpful Business Plan Articles & Templates

Candle Making Business Plan Template

Written by Dave Lavinsky

Candle Making Business Plan

You’ve come to the right place to create your Candle Making business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Candle Making businesses.

Below is a template to help you create each section of your Candle Making business plan.

Executive Summary

Business overview.

The Countryroad Candle Company is a startup candle manufacturing company located in Augusta, Georgia. The company is founded by Emily Reynolds, a creative and driven individual who wants to turn her favorite pastime into a thriving business. Emily has a background of seven years in marketing housewares to the retail sector and she has a keen eye for design, which brings her to the startup phase of her candle making company.

Countryroad Candle Company will provide a wide array of candles in scented, decorative and pure iterations of the concept Emily Reynolds is bringing to the company. Each candle will have unique properties, including a small candle within each large candle, which doubles the light and beauty of the decoratives on the candles. This unique feature has not been shared or adopted by anyone else, hence Emily has the drive to get this unique candle making product line into the market.

Product Offering

The following are the services that Countryroad Candle Company will provide:

• Small to large uniquely-designed candles, in sizes of 3 to 8 inches in diameter and in height up to 17-inches.
• A selection of carefully curated candle holders, glass bases, and other complementary items to highlight the candles.
• Candle accessories, including candle snuffers, long decorative matches, and scented bottled oils to add to the fragrance of the candles.
• 12-pack cartons for sale at retail; 6-pack boxes for sale to smaller shop or outlets.
• Single candle pricing for sale online, in addition to 12-pack cartons
• Special discounts for disabled or elderly individuals who will use candles for healing properties

Customer Focus

Countryroad Candle Company will target all consumers in the greater Atlanta area. They will target retail stores and store chains. They will target gift shops, flower shops and other related independent stores in the region of Atlanta. They will target event venues, party planners and event coordinators.

Management Team

Countryroad Candle Company will be owned and operated by Emily Reynolds. She has recruited Sarah Thompson, the former production manager of her last employer, a large candle making company called Glow & Co.

Emily Reynolds is a graduate of the University of Georgia, where she graduated with a Bachelor’s degree in Marketing. She previously was employed by Glow & Co., but decided to branch out and create unique candles that would offer new designs and new fragrances to the boutique candle offerings of the area. Emily’s stellar marketing efforts and courtesy with clients led her former employer to win the 2022 title of “Best Customer Service in Atlanta.”

Sarah Thompson has been creating and overseeing the manufacture of candles for over thirty years. She specializes in long-burn candles and produces the combination of ingredients that lead to fragrant, high-end candles with a beauty that cannot be surpassed. The new company offers her an opportunity to create distinctive “candle within a candle” design and manufacturing experience and she’s excited to begin the tasks ahead. She has the expertise and extensive background in candle-making to produce superior candles with the practicality of high burn time combined with stellar beauty.

Success Factors

Countryroad Candle Company will be able to achieve success by offering the following competitive advantages:

• Friendly, knowledgeable, and highly-qualified team at Countryroad Candle Company
• Extensive product line of unique candles, with properties that are highly-desirable.
• Curated candle accessory assortment prepared and vetted for retail sales
• Packaging in quantities that will support all retail customers, small to large
• Industry knowledge and contacts that are extensive and international
• Countryroad Candle Company will offer the best package pricing for the highest-quality candles offered. Discounts will also apply to disabled and elderly customers who use the candles for healing properties.

Financial Highlights

Countryroad Candle Company is seeking $200,000 in debt financing to launch its Countryroad Candle Company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the various marketing strategies to be employed. The breakout of the funding is below:

• Office space build-out: $20,000
• Office equipment, supplies, and materials: $10,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph outlines the financial projections for Countryroad Candle Company.

Company Overview

Who is countryroad candle company.

Countryroad Candle Company is a newly established candle design and manufacturing company in Atlanta, Georgia. Countryroad Candle Company will offer unique candles, designed with beauty and carrying delightful fragrances, to the retail markets of the Atlanta region. The candles will be a proprietary offering by Countryroad Candle Company and the production of the candles is a patented process. Countryroad Candle Company will provide a mix of carton and box packaging assortments so that customers can purchase in bulk or in smaller configurations to suit their retail outlets. Their full-service approach includes a comprehensive price structure and delivery options to suit every buyer.

  Countryroad Candle Company will be able to bring a new aspect of candle-making to the candle customers within the housewares and giftware industry sector, providing a superior product line and one that contains both practicality and beauty combined. The team of professionals are highly-qualified and the production manager is a seasoned veteran at candle-making and all aspects of packaging and shipping products. Countryroad Candle Company offers everything that other candle manufacturers cannot: a unique product line, beautiful decor on each candle, fragrances that complement each candle and packed cartons in a variety of sizes for all levels of retail.

Countryroad Candle Company History

Since incorporation, Countryroad Candle Company has achieved the following milestones:

• Registered Countryroad Candle Company, LLC to transact business in the state of Georgia.
• Has a contract in place at one of the Atlanta area buildings to set up its candle-making production line and office space within 10,000 square feet.
• Reached out to numerous former buyers and associates to announce the establishment of the new business and discuss advance orders.
• Began recruiting a staff of six and office personnel to work at Countryroad Candle Company.

Countryroad Candle Company Services

The following will be the services Countryroad Candle Company will provide:

Industry Analysis

• The candle manufacturing industry is expected to grow over the next five years to over $190 million.
• The growth will be driven by an increased number of consumers using candles for self-healing and stress-relieving properties.
• The growth of the demographic strata of Gen Z, Millennials, and other younger-aged groups who will use candles extensively in homes, offices and areas of relaxation.
• The growth of fragrances with known healing properties and their use in candles.
• The increased number of wedding and party planners looking for unique lighting.
• Costs will be reduced by lower-priced candles imported into the U.S.
• Costs will also be reduced by sales online, reducing the need for transport of goods.
• The industry sector of candle manufacturing is on the rise and outsourcing of materials, marketing strategies, procurement, etc. will lower the costs overall, as well.

Customer Analysis

Demographic profile of target market.

Countryroad Candle Company will target residents within the Atlanta, Georgia region. This includes outlying communities and targets in the general Georgia area. They will target consumers in age from 12 years to 99 years. They will target those individuals who use candles as part of self-healing exercises or as naturopathic wellness support. They will target event planners and party coordinators. They will extensively target retail buyers and retail chain buyers to purchase quantities of candles at reasonable prices.

Customer Segmentation

Countryroad Candle Company will primarily target the following customer profiles:

• Small to large retail buyers for gift stores, flower shops, large chains
• Event planners and wedding coordinators
• Disabled and elderly who use candles for wellness
• Spas and med spas; natural health clinics

Competitive Analysis

Direct and indirect competitors.

Countryroad Candle Company will face competition from other companies with similar business profiles. A description of each competitor company is below.

Karlan’s Gift Supply

Karlan’s Gift Supply is a large wholesale company that supplies retail stores with products made in local or regional manufacturing companies. This is an indirect competitor to Countryroad Candle Company, as Karlan’s Gift Supply does not carry candles or candle accessories. However, the wholesale company does carry a variety of related gift products and is well-known for advantageous pricing.

Bridget Karlan started Karlan’s Gift Supply twenty years ago and has grown the company into a 2M wholesale business. She is frugal in purchasing her wares and she is rigid in demanding prices to cover her targeted profit margins of 55% and up. She has very wisely created a powerhouse wholesale supply company.

Glow & Co.

Glow & Co. is the former employer of Emily Reynolds and Sarah Thompson. As a direct competitor, Glow & Co. sells candle assortments and individual candles into the retail gift and specialty markets throughout the southern region of the U.S.

Glow & Co. is a ten-year-old company founded by Nick Parsons, the son of a candlemaker father who engaged his family of fifteen in the business with him. The father passed the company on to his son ten years ago and, during the ensuing time, the son changed the name of the company and expanded it exponentially by selling candles of all kinds in several configurations and pack sizes. All current offerings are imported from Asia and carry low price points as a result. There are no unique designs or fragrances in the current product line.

Hanson’s Tabletop Company

Hanson’s Tabletop Company is a high-end design company that sells multiple gift and houseware products into retail. The company does not manufacture candles, but acquires candles and all other products via importing. The company holds a design office in the large Atlanta Gift Market in downtown Atlanta and sells curated product lines to national chains in addition to local retailers who want to place small orders.

Hanson’s Tabletop Company sells a variety of candles and candle accessories. The company owners, Teri and Craig Walters, are enthusiastic about the trend-forward designs in candle manufacturing and rarely purchase standard candles in case packs. They purpose one-of-a-kind candles and hope their suppliers can fill any voids when designs become popular.

Competitive Advantage

Countryroad Candle Company will be able to offer the following advantages over their competition:

Marketing Plan

Brand & value proposition.

Countryroad Candle Company will offer the unique value proposition to its clientele:

• Highly-qualified team of skilled employees who are able to provide a unique product line that is both decorative and fragrant to be sold into the retail market.
• The team of employees will also offer a variety of packaging sizes and pricing that adjusts with quantity sizes.
• Discounts for disabled and elderly customers who use candles for self-healthing or wellness.
• Reasonable pricing for retail clients that enables everyone in any sized retail business to purchase on a regular basis with profitable outcomes.

Promotions Strategy

The promotions strategy for Countryroad Candle Company is as follows:

Word of Mouth/Referrals

Countryroad Candle Company has built up an extensive list of client contacts over the years by providing exceptional service and expertise to their former clients. With the announcement of the new company launching soon, these clients were approached and have agreed to purchase retail candle supplies from Countryroad Candle Company. The wide range of packaging plus the unique properties of the candles has encouraged buyers to make initial orders early.

Professional Associations and Networking

There are several professional associations which Emily Reynolds and Sarah Thompson have already joined. Their networking efforts will intensify with this new company and they will offer special packages for first-time buyers.

Print Advertising

Direct mail efforts will be employed in the two weeks prior to the launch. Every buyer will receive a promotional package announcing the launch of Countryroad Candle Company and will be offered special discounts for purchases made in the first month of the company.

Website/SEO Marketing

Countryroad Candle Company will utilize their website as an informational outlet and as a place for smaller retail establishments to order. The website will be well organized, informative, and list all their products and services that Countryroad Candle Company provides. The website will also list their contact information and list their available candles in stock or on hand. Their website presence will contain SEO marketing tactics; anytime someone types in the Google or Bing search engine “candle company selling to retail” or “candle company near me”, Countryroad Candle Company will be listed at the top of the search results.

The pricing of Countryroad Candle Company will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.

Operations Plan

The following will be the operations plan for Countryroad Candle Company. Operation Functions:

• Emily Reynolds will be the Owner and President of the company. She will oversee all staff and manage new client relations. She has spent the last year recruiting the following staff:
• Sarah Thompson will be the Production Manager of the company. She will curate, plan and oversee operations of the candle-making process at the company and will work with Emily Reynolds to effectively add decorative and fragrance elements to each candle design.
• Tad Newsom will be the Production Facilities and Maintenance Manager, overseeing the maintenance and any needed repairs of the facility.
• Shelia Abramson will be the Shipping Manager. As such, she will oversee the packing and shipping process as cartons and packages are prepared for shipment to retail.

Milestones:

Countryroad Candle Company will have the following milestones completed in the next six months.

• 5/1/202X – Finalize contract to lease manufacturing and office space
• 5/15/202X – Finalize personnel and staff employment contracts for the Countryroad Candle Company
• 6/1/202X – Finalize buyer orders for Countryroad Candle Company
• 6/15/202X – Begin networking at industry events
• 6/22/202X – Begin moving into Countryroad Candle Company facility and office
• 7/1/202X – Countryroad Candle Company opens its doors for business

Financial Plan

Key revenue & costs.

The revenue drivers for Countryroad Candle Company are the wholesale prices they will charge to the buyers for their products and services.

The cost drivers will be the overhead costs required in order to staff Countryroad Candle Company. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

Funding Requirements and Use of Funds

Countryroad Candle Company is seeking $200,000 in debt financing to launch its candle-making business. The funding will be dedicated toward securing the manufacturing facility and office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the marketing strategies and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of Purchase Orders Per Month: 56
• Average Sales Revenue per Month: $53,000
• Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, candle making business plan faqs, what is a candle making business plan.

A candle making business plan is a plan to start and/or grow your candle making business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Candle Making business plan using our Candle Making Business Plan Template here .

What are the Main Types of Candle Making Businesses? 

There are a number of different kinds of candle making businesses , some examples include: Scented Candles, Specialty Wax Candles, and Novelty Candles.

How Do You Get Funding for Your Candle Making Business Plan?

Candle Making businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Candle Making Business?

Starting a candle making business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Candle Making Business Plan - The first step in starting a business is to create a detailed candle making business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your candle making business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your candle making business is in compliance with local laws.

3. Register Your Candle Making Business - Once you have chosen a legal structure, the next step is to register your candle making business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your candle making business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Candle Making Equipment & Supplies - In order to start your candle making business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your candle making business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful candle making business:

• How to Start a Candle Making Business

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Candle Making Business Plan

Growing demand, low startup costs, high margins, and a diverse market make candle-making a great business choice, especially for those who enjoy DIY projects and artistic expression. However, starting a business with proper planning can ensure your business is safe.

Are you looking to start writing a business plan for your candle making business? Creating a business plan is essential to starting, growing, and securing funding for your business. So we have prepared a candle making business plan template to help you start writing yours.

Free Business Plan Template

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• Fill in the blanks – Outline
• Financial Tables

How to Write a Candle Making Business Plan?

Writing a candle making business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire business plan is ready. Here are some components to add to your summary:

Start with a brief introduction:

Market opportunity:, describe your product:, management team:, financial highlights:, call to action:.

Ensure you keep your executive summary concise and clear, use simple language, and avoid jargon.

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2. Business Overview

Depending on your business details, you’ll need different elements in your business overview. Still, there are some foundational elements like business name, legal structure, location, history, and mission statement that every business overview should include:

About the business:

Provide all the basic information about your business in this section like:

• The name and type of your candle business: mention whether you are a homemade candle manufacturer, factory-produced manufacturer, organic candle-making business, or any other candle manufacturing business.
• Company structure of your candle business, whether it is a sole proprietorship, partnership firm, or something else.
• Location of your business and why you selected that place.

Mission statement:

Business history:, future goals:.

This section should provide an in-depth understanding of your candle making business. Also, the business overview section should be engaging and precise.

3. Market Analysis

Market analysis provides a clear understanding of the market in which your candle making business will run along with the target market, competitors, and growth opportunities. Your market analysis should contain the following essential components:

Target market:

Market size and growth potential:, competitive analysis:, market trends:, regulatory environment:.

Some additional tips for writing the market analysis section of your business plan:

• Use various sources to gather data, including industry reports, market research studies, and surveys.
• Be specific and provide detailed information wherever possible.
• Include charts and graphs to help illustrate your key points.
• Keep your target audience in mind while writing the business plan.

4. Products And Services

The product and services section of a candle manufacturing business plan should describe the specific products that will be offered to customers. To write this section should include the following:

List the products:

• Create a list of the type of candles your candle business will offer, including scented, decorative, taper, pillar, soy, etc.
• Shipping and delivery: Explain how your business will handle the shipping of your products and if you will charge any additional fee for these services.

Emphasize product quality:

Overall, a business plan’s product and services section should be detailed, informative, and customer-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Develop your unique selling proposition (USP):

Determine your pricing strategy:, marketing strategies:, sales strategies:, customer retention:.

Overall, your business plan’s sales and marketing strategies section should outline your plans to attract and retain customers and generate revenue. Be specific, realistic, and data-driven in your approach, and be prepared to adjust your strategies based on feedback and results.

6. Operations Plan

When writing the operations plan section, it’s important to consider the various aspects of your business processes and procedures involved in operating a business. Here are the components to include in an operations plan:

Hiring plan:

Operational process:, equipment and raw materials:.

By including these key elements in your operations plan section, you can create a comprehensive plan that outlines how you will run your candle making business.

7. Management Team

The management team section provides an overview of the individuals responsible for running the candle making business. This section should provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

Key managers:

Organizational structure:, compensation plan:, board of advisors:.

Describe your company’s key personnel and highlight why your business has the fittest team.

8. Financial Plan

When writing the financial plan section of a business plan , it’s important to provide a comprehensive overview of your financial projections for the first few years of your business.

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:, financing needs:.

Remember to be realistic with your financial projections and provide supporting evidence for your estimates.

9. Appendix

When writing the appendix section, you should include any additional information that supports the main content of your plan. This may include financial statements, market research data, legal documents, and other relevant information.

• Include a table of contents for the appendix section to make it easy for readers to find specific information.
• Include financial statements such as income statements, balance sheets, and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
• Provide market research data, such as statistics on the size of the candle making industry, consumer demographics, and trends in the industry.
• Include any legal documents such as permits, licenses, and contracts.
• Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
• Use clear headings and labels for each section of the appendix so that readers can easily find the information they need.

Remember, the appendix section of your candle making business should only include relevant and essential information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This candle making business plan sample will provide an idea for writing a successful candle making plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready candle making business plan to impress your audience, download our candle making business plan pdf .

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Frequently asked questions, why do you need a candle making business plan.

A business plan is an essential tool for anyone looking to start or run a successful candle making company. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your candle making business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your candle making business.

How to get funding for your candle making business?

There are several ways to get funding for your candle-making business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
• Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your candle making business, usually online.
• Angel investors – Getting funds from angel investors is one of the most sought options for startups.
• Venture capital – Venture capitalists will invest in your business in exchange for a percentage of shares, so this funding option is also viable.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your candle making business?

There are many business plan writers available, but no one knows your business and idea better than you, so we recommend you write your candle manufacturing business plan and outline your vision as you have in your mind.

What is the easiest way to write your candle making business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any candle making business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Candle Making

Back to All Business Ideas

How to Start a Candle Making Business

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on October 29, 2021 Updated on May 9, 2024

Investment range

$1,040 - $1,680

Revenue potential

$60,000 - $180,000 p.a.

Time to build

0 - 3 months

Profit potential

$30,000 - $72,000 p.a.

Industry trend

If you have a passion for candles, their design, scent, and feel, then starting a candle-making business could be in the cards for you. Candles can add a bit of romance or give a room a more natural glow — and they make for great gifts at an affordable price. Homemade candles, in particular, feel like they’ve been crafted from the warmth of the heart.

But of course, starting your candle business will take preparation and work. With this step-by-step guide, we provide all the information you need to develop and launch your business while avoiding common missteps.

Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.

Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .

Step 1: Decide if the Business Is Right for You

Pros and cons.

Every business has its pros and cons, and it’s a good idea to weigh these factors to decide if starting a candle business is a good fit.

• Flexible — Set your own schedule and work when you want
• Rewarding work — Chasing your passion, expressing your creativity in candles
• Simple business model — Make and sell candles — not complicated
• Minimal startup costs — Few materials needed; sell online
• Good money & scalability — With low costs, profits can be strong; grow as you wish
• Heavy competition v Due to the low barriers to entry, there are many custom candle makers out there that you will have to compete against
• May need a supplier — In order to effectively grow your business, you may need to pair with a supplier, which will decrease your autonomy
• Repetitive work with no safety net — You’ll receive no salary for your candle-making; earnings will rely on you churning out candles
• Difficult to build customer trust and loyalty — With no face-to-face interactions, your candle website may have a hard time building a loyal customer base

Candle Industry Trends

Increased demand for home decor products has helped expand and broaden the candle-making market in recent years. Today’s custom-made marketplace offers innovative scents, multiple colors, organic ingredients, and a wide variety of shapes and sizes. One inventive maker even sells a candle shaped like a hand, with wicks on the end of each finger! The price? A cool $65.(( https://www.uncommongoods.com/product/light-my-fingers-candle ))

These days, pumpkin candles do well in the fall, peppermint in winter, and citrus in the summer. The candle industry has grown alongside the spa and yoga studio market .

Industry Size and Growth

• Industry size and past growth — Candle manufacturing in the US is valued at $2.9 billion and it’s recovering from the pandemic slump.(( https://www.ibisworld.com/industry-statistics/market-size/candle-manufacturing-united-states/ )) 
• Growth forecast — Business intelligence advisory Verified Market Research expects the global candle industry to grow 8.21% annually through 2030.(( https://www.verifiedmarketresearch.com/product/candle-market/ )) 
• Number of businesses — There are 1,784 candle manufacturing businesses in the US.(( https://www.ibisworld.com/united-states/market-research-reports/candle-manufacturing-industry/ ))
• Number of people employed — The industry employs more than 8,000 people.(( https://www.ibisworld.com/united-states/market-research-reports/candle-manufacturing-industry/ ))

Trends and Challenges

• Increasing consumer preference for personalized candles
• Great interest in wooden wicks
• Rapid growth of ecommerce
• Labor shortage
• Environmental concerns

What Kind of People Work in a Candle Business?

• Gender — About 65% of candle makers in the US are female, while about 35% are male.(( https://www.zippia.com/candle-maker-jobs/demographics/#gender-statistics ))
• Average level of education — 44% of candle makers have a high school diploma.(( https://www.zippia.com/candle-maker-jobs/demographics/#degree-level-types ))
• Average age — The average age of a candle maker is 43.4 years old.(( https://www.zippia.com/candle-maker-jobs/demographics/#age-statistics ))

How Much Does It Cost to Start a Candle Business?

The startup costs for a candle business depend almost entirely on your starting inventory, which is the largest cost. In general, to get you started in a modest capacity, startup costs will range from about $1,000 to nearly $1,700.

You will need several different items to launch your candle business, including special equipment you’ll need to purchase. Websites like Candle Science , Candles and Supplies , and CandleWic offer a comprehensive selection of candle-making equipment. Here is a list to get you started:

• Aluminum melting pitcher
• Aluminum pouring pot
• Glass thermometer
• Wick bars and holders
• Molds, wax, wicks
• Fragrance materials
• Measuring cup(s)
• Clothespins

How Much Can You Earn From a Candle Business?

Candles can be made for a relatively low cost and sold at a high margin, from 30% all the way to 75% in net margin. The total potential earnings for a candle business depend on your level of production. For example, if you’re selling candles at $10 each and they cost you $5 to make, then you make $5 for each sale and your gross profit margin is 50%. 

In your first year or two, you could work from home and sell 500 candles a month, bringing in $60,000 in annual revenue. This would mean $30,000 in profit, assuming that 50% margin. As your brand gains recognition, sales could climb to 1,500 candles a month. At this stage, you’d rent a storefront and hire staff, reducing your profit margin to around 40%. With an annual revenue of $180,000, you’d make a tidy profit of $72,000.

Candleers, a candle-making advisory, estimates that the average candle maker earns $50,000 per year , with the bottom 10% making less than $25,000 and the top 10% checking in at more than $100,000. Simply put, annual earnings will depend on how many candles you are selling and at what price point you are selling them.

Ultimately, your candle business’ earnings will be heavily dependent on the cost of inventory and the cost of making the candles. Your per candle price should be determined by your costs and how much you hope to earn from each sale. Candle-making has relatively low fixed costs, so this ratio will be among the most important aspects of your business.

To find the right price, research the prices of your closest competition.

What Barriers to Entry Are There?

• Knowledge of candle-making — This is a basic barrier for any candlemaker. While not the most difficult process in the world, learning candle-making requires time and focus.
• Access to top suppliers — The most successful candle makers typically secure relationships with top suppliers such as Amazon, Etsy, Shopify, and others.
• Designs must be up-to-date — Candle makers need to keep up with the latest customer desires for new scents, shapes, and styles.
• More than a full-time job — A candle maker’s earnings depend on the amount of time and energy they are willing to devote to the work.

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Step 2: hone your idea.

Now that you know what’s involved in starting a candle business, it’s a good idea to hone your concept in preparation to enter a competitive market. 

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an Opportunity

The first thing an aspiring candle business owner should do is assess their skills and knowledge about candles in relation to the larger market. You can find good opportunities with some simple research into the most popular candles and their makers. Try to answer questions like: What are the most popular candle websites and what are their bestselling products? Which price points are most appealing? At which cost could you produce the same candles, and what materials would you need to do so?

Your business brand will be determined as a result of your research and the market opportunity you choose to target with your candle creations. You might go in for wildly shaped or exotically scented niche-market candles, or go for a mass market product. The choice is entirely up to you!

What? Define Your Offerings and Candle Types

Make a list of all of the candles you might like to make. Some of the popular candle types, each appealing to different segments of buyers, include but are not limited to:

• Scented and aromatherapy candles
• Twisted and other sculpted candles
• Decorative and other artistic candles
• Vegan candles
• Soy candles
• Odor-eliminating candles
• Bug repellant candles
• Long-lasting candles

Each candle could require different ingredients and a different process of creation. You should consider which type of candles you’d like to define your brand. This will determine your material needs, production schedule, and marketing.

How Much Should You Charge for Your Candles?

Most homemade candles you’ll find online are priced in the $15 to $30 range. Specialty candles that provide a special scent or artistic design will of course be more expensive than straightforward candles of traditional shape and size.

You should price your candles based on your costs and your profit expectations informed by market norms. It’s best to do a good deal of market research before settling on your price points.

Once you know your costs, you can use our profit margin calculator to determine your markup and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify Your Target Market

Different candle types will be popular for different market segments, and at different times of the year. As noted above, citrus and fruit-scented candles will be popular in the warmer months, while mint-scented candles will do better in winter.

Women tend to be bigger candle buyers than men, and homeowners buy more than renters.

Spas and yoga centers, restaurants, retailers, and other small businesses that rely on candles to create a certain ambiance will also be in your target market.

Depending on the type of candle you produce, some will meet the desires of a specific customer – such as eco-friendly, vegan candles, or highly decorative candles. And keep in mind, the more original and exotic your niche, the more you may be able to charge!

Where? Choose Your Business Premises

In the early stages, you may want to run your business from home to keep costs low. But as your business grows, you’ll likely need to hire workers for various roles and may need to rent out a storefront. You can find commercial space to rent in your area on sites such as Cra igslist , Crexi , and Instant Offices .

When choosing a commercial space, you may want to follow these rules of thumb:

• Central location accessible via public transport
• Ventilated and spacious, with good natural light
• Flexible lease that can be extended as your business grows
• Ready-to-use space with no major renovations or repairs needed

Step 3: Brainstorm a Candle Business Name

Here are some ideas for brainstorming your business name:

• Short, unique, and catchy names tend to stand out
• Names that are easy to say and spell tend to do better
• The name should be relevant to your product or service offerings
• Ask around — family, friends, colleagues, social media — for suggestions
• Including keywords in the name, such as “candle” or “wax,” boosts SEO
• Choose a name that allows for expansion: “Bright Flame Candles” rather than “Aromatherapy Candles”
• A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Discover over 410 unique candle business name ideas here . If you want your business name to include specific keywords, you can also use our candle business name generator. Just type in a few keywords, hit Generate, and you’ll have dozens of suggestions at your fingertips.

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Candle Making Business Plan

Here are the key components of a business plan:

• Executive summary — A brief overview of the candle making business, highlighting its mission, goals, and key points for potential investors or partners
• Business overview — A detailed description of the candle making business, including its history, mission, vision, and legal structure
• Product and services — Clear delineation of the types of candles offered, their unique features, and any additional services, like customization or fragrance options
• Market analysis — Examination of the candle market, identifying target demographics, trends, and potential growth areas for the business
• Competitive analysis — Assessment of other candle makers in the market, highlighting strengths, weaknesses, opportunities, and threats to the business
• Sales and marketing — Strategies for promoting and selling candles, encompassing pricing, distribution channels, and promotional activities
• Management team — Introduction of key individuals involved in the candle making business, emphasizing their relevant skills and experience
• Operations plan — Detailed explanation of the day-to-day operations, including the production process, sourcing materials, and quality control measures
• Financial plan — Overview of the financial aspects of the business, encompassing startup costs, revenue projections, and budgeting for ongoing operations
• Appendix — Supplementary materials such as detailed financial statements, market research data, or any other supporting documents

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — a prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s done, you have your own business!

Choose Where to Register Your Company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you are planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to candle making. 

If you’re willing to move, you could really maximize your business! Keep in mind that it’s relatively easy to transfer your business to another state. 

Choose Your Business Structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your candle business will shape your taxes, personal liability, and business registration requirements, so choose wisely.

Here are the main options:

• Sole proprietorship — The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
• General partnership — Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
• Limited Liability Company (LLC) — Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
• C Corporation — Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
• S Corporation — This refers to the tax classification of the business but is not a business entity. Either a corporation or an LLC can elect to be an S-Corp for tax status. Here, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

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Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number or EIN. You can file for your EIN online, by mail, or by fax. Visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate on a calendar year (January–December), or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you are completing them correctly.

Step 7: Fund Your Business

Securing financing is your next step and there are plenty of ways to raise capital:

• Bank loans — This is the most common method, but getting approved requires a rock-solid business plan and a strong credit history.
• SBA-guaranteed loans — The Small Business Administration can act as a guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
• Government grants — A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
• Friends and family — Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
• Crowdfunding — Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
• Personal — Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best options, other than friends and family, for funding a candle business. You might also try crowdfunding if you have an innovative concept. 

Step 8: Apply for Candle Making Business Licenses and Permits

Starting a candle business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your candle business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account. 

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

• General liability — The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
• Business property — Provides coverage for your equipment and supplies.
• Equipment breakdown insurance — Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
• Worker’s compensation — Provides compensation to employees injured on the job.
• Property — Covers your physical space, whether it is a cart, storefront, or office.
• Commercial auto — Protection for your company-owned vehicle.
• Professional liability — Protects against claims from clients who say they suffered a loss due to an error or omission in your work.
• Business owner’s policy (BOP) — This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business. 

Essential Software and Tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.  

You may want to use industry-specific software, such as Craftybase to track material and product stock, log expenses, and update pricing. You can also use NetSuite Commerce to manage your online and in-store transactions.

• Popular web-based accounting programs for smaller businesses include Quickbooks , FreshBooks , and Xero . 
• If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences of filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop Your Website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using website builders . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech savvy, you can hire a web designer or developer to create a custom website for your business.

However, people are unlikely to find your website unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

Here are some powerful marketing strategies for your future business:

• Social media showcase — Use Instagram, Pinterest, and Etsy to display your unique candle designs and share the stories behind each scent and collection.
• E-commerce SEO — Optimize your online store to rank highly in searches for handcrafted and specialty candles, ensuring visibility to potential customers.
• Engaging online experience — Develop an interactive website that allows customers to easily explore and purchase from your candle collections.
• Distinctive branding and packaging — Design your product packaging to reflect the quality and uniqueness of your candles, making them instantly recognizable.
• Introductory offers — Attract new customers with discounts on their first purchase or special bundle deals.
• Regular email newsletters — Engage your customer base with updates on new products, exclusive behind-the-scenes content, and special offers.
• Candle care blog — Share expert advice on candle maintenance, the benefits of various waxes and scents, and insights into the craft of candle making.
• Customer spotlights — Feature customer reviews and photos on your platforms to foster a community feel and show real-life applications of your products.
• Candle making workshops — Offer interactive workshops where customers can learn to make their own candles, enhancing their connection with your brand.
• Pop-up shops — Utilize pop-up shops at fairs and markets to physically showcase your candles and directly engage with new customers.
• Local business partnerships — Collaborate with local businesses, like spas and cafes to offer your candles, expanding your reach and customer base.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that set it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your candle business meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire. 

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your candle business could be:

• Regional or seasonal scents
• Twisted and unusual designs
• Aromatherapy candles
• Eco-friendly and vegan candles
• Visually satisfying online store with a customizable selection
• Lifestyle and decor recommendations with every candle order
• Branded Pinterest posts detailing candle ideas
• Reusable candles

You may not like to network or use personal connections for business gain but your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a candle business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been making candles for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in candles. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business.

Step 12: Build Your Team

You may not need any employees if you are starting out small from a home-based office. But as your business grows, you will likely need workers to fill various job roles. The potential employees for a candle business include:

• Candle maker
• Label maker
• Packer and shipper
• Marketing strategist
• IT specialist for your website 

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need. 

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent. 

Step 13: Run a Candle Business — Start Making Money!

Scented candles are widely thought to melt stress, induce or improve sleep, provide therapeutic care, and more. That’s why candle making is a nearly $3 billion market in the US and remains one of the top business ideas globally. Now that you have all the information you need to start a candle business, it’s time to take the first step in your entrepreneurial journey. 

If you do proper research to better understand what your target market needs and craft a brilliant marketing strategy, you can light your way to success and start making a great profit!

• Candle Business FAQs

Homemade candles typically last for 12-15 months if stored in a cool, dry place. They burn approximately one hour for each inch of their length. The burn time can vary based on the materials and wicks used.

Since candles can be fragile, it is best to package them in durable boxes and fill the interior with tissue paper or bubble wrap to cushion them during transit. For certain candles and climates, you may want to include frozen gel packets within the box to prevent any melting. See this guide from Paper Mart for some more tips and tricks on candle shipping.

Yes, scented and unscented candles – using the appropriate materials – are safe for use. Both synthesized and natural scents have been widely tested and deemed safe. Wicks and wax sold by candle makers and suppliers are also safe, as they must be approved by the relevant regulatory agencies. For more info on candle safety, consult this comprehensive FAQ from the National Candle Association.

No, insurance is not required to sell candles in the US. However, many candle makers buy liability insurance to help shield against any potential legal action. Ultimately, candles deal with fire, so there always liability concerns for sellers. The Armatage Candle Company provides a useful guide on candle maker insurance.

Candle making can be a profitable business, but success depends on various factors such as market demand, product quality, pricing, marketing, and effective business management. If you sell online, you’ll have to spend some money on digital marketing to get traffic to your site.

Starting and running a candle business can have its challenges, including sourcing quality materials, developing unique scents and designs, managing inventory and production, marketing and competition, and maintaining consistent quality.

Some popular candle categories include scented candles, soy candles, natural or organic candles, decorative or artisanal candles, and seasonal or themed candles. 

Yes, you can use essential oils in candles to add natural fragrance. It’s important to choose oils suitable for candle making and to adhere to guidelines for safe use. Typically, essential oils should make up about 5-10% of the total wax weight.

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• Decide if the Business Is Right for You
• Hone Your Idea
• Brainstorm a Candle Business Name
• Create a Candle Making Business Plan
• Register Your Business
• Register for Taxes
• Fund Your Business
• Apply for Candle Making Business Licenses and Permits
• Open a Business Bank Account
• Get Business Insurance
• Prepare to Launch
• Build Your Team
• Run a Candle Business — Start Making Money!

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How To Write A Winning Candle Business Plan + Template

Creating a business plan is essential for any business but can be especially helpful for candle businesses who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every candle business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a candle business plan.

A candle business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Candle Business Plan?

A candle business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Candle Business Plan

There are several key components of a successful candle business plan.

Executive Summary

The executive summary of a candle business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your candle company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your candle business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your candle firm, mention this.

You will also include information about your chosen candle business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a candle business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the candle industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a candle business’ customers may include:

• Homeowners who want to improve the scent of their homes
• Business owners who want to use candles as a marketing tool to make their businesses more inviting
• People who want to buy candles as gifts for friends and family members
• Wedding planners looking for unique wedding favors

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or candle services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your candle business via word-of-mouth, trade shows and events, or public relations.

Operations Plan

This part of your candle business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a candle business include reaching $X in sales. Examples include signing up X number of new customers or adding X new products to your line.

Management Team

List your team members including their names and titles, as well as their expertise and experience relevant to your specific candle industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Candle Business

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Candle Business

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup candle business.

Sample Cash Flow Statement for a Startup Candle Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Create a Winning Candle Business Plan

Writing a good business plan gives you the advantage of being fully prepared to launch or grow your candle company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

Include a detailed financial plan and supporting documentation in your appendix. Doing so will give you the best chance for success when seeking funding from investors or lenders. Finally, make sure your management team is solid and has the experience and expertise to execute your vision.   

Finish Your Candle Business Plan in 1 Day!

Other helpful articles.

Why & How to Write a Candle Company Mission Statement

Candle Making Business Plan Template [Updated 2024]

Candle Making Home Business Plan Template

If you want to start a Candle Making business or expand your current Candle business, you need a business plan.

Fortunately, you’re in the right place. Our team has helped develop over 100,000 business plans over the past 20 years, including thousands of candle making business plans.

The following candle making business plan template and example gives you the key elements you must include in your plan. In our experience speaking with lenders and investors, the template is organized in the precise format they want.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Candle Business Plan Example

I. executive summary.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Business Overview

[Company Name], located in [insert location here], is a well-known candle manufacturing company that makes eco-friendly organic candles made with high quality ingredients. The Company carefully curates its collection and only chooses sophisticated scents. The Company distributes its products nationwide to major retailers and select department stores. The Company’s products are also available directly to consumers via their website and a local brick and mortar location. The Company’s goal is to become one of the leading candle manufacturing companies in the area.

Products Served

[Company Name] manufactures and sells unscented and scented candles. It will offer the following products to its customers:

• A variety of everyday candles such as tapers, votives, pillars and floating candles
• Soy Candles
• Novelty Candles
• Unscented Candles
• Signature Scented Candles

Customer Focus

[Company Name] will primarily offer its products direct to consumers, as well as select retailers and spas. The demographics of the market are:

• Individual Buyers: 57%
• Retail Locations: 20%

Management Team

[Company Name] is led by [Founder’s name], who has been in the candle manufacturing business for [x] years. [Founder’s name] is a seasoned entrepreneur with a degree in Chemistry and a Master’s Degree in Business Management. During his internship at [insert company], he acquired in-depth skills in candle making & designing. Additionally, he worked for large and reputable organizations in the course of his career, learning how to manage and run a candle making business before starting [Company name].

Success Factors

[Company Name] is qualified to succeed due to the following reasons:

• There is currently a high demand for candles in the U.S.
• In addition, the company surveyed the population and received highly positive feedback pointing towards an explicit demand for their products, supporting the business after launch.
• The management team has a track record of success in the candle making business.
• The candle business is a proven, successful business in the United States.

Financial Highlights

[Company Name] is currently seeking $270,000 to launch its candle making company. Specifically, these funds will be used as follows:

• Manufacturing equipment and facility setup: $200,000
• Working capital: $70,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

II. Company Overview

Who is [company name], [company name]’s history.

[Founder’s Name] is an entrepreneur with a passion for candle designing who seeks to create a legacy that will make the company stand out uniquely from its competitors. [Company Name] will become a known candle manufacturer in [Location], offering a wide selection of candles.

Upon surveying the local customer base and finding the potential retail location, [Founder’s Name] incorporated [Company Name] as an S-Corporation on [date of incorporation].

[Founder’s Name] has selected an initial location and is currently undergoing due diligence on each property and the local market to assess the most desirable location for the manufacturing facility.

Since incorporation, the company has achieved the following milestones:

• Found retail space and signed Letter of Intent to lease it
• Developed the company’s name, logo, and website
• Determined raw material requirements
• Began recruiting key employees with experience in the candle making industry

[Company Name]’s Products/Services

Iii. industry analysis.

[Company Name] competes against small, individually owned candle-making companies and major regional or national chains. The candle market size was valued at $7.3 million last year is projected to reach $10.7 million in the next five years, growing at a CAGR of 5.26%. The growth of the market is being driven by an increase in the number of hotels, restaurants, wellness facilities, as well as the number of household candle purchases. Increased home renovation and home décor activities have driven the demand for scented candles in the residential sector.

IV. Customer Analysis

Demographic profile of target market.

There are 1.5 million retail and wholesale businesses in the U.S.

Customer Segmentation

The Company will primarily target the following customer segments:

• Individual Buyers : Individual consumers, especially households will be key targets for the company. Scented candles will be a leading product for the households.
• Spas : The second target group comprises spas. As candles have therapeutic properties, commercial businesses like spas frequently use scented candles. The Company will offer its products, at a wholesale rate to this segment.
• Retail Locations : Other retail locations such as specialty shops, home décor stores and mass merchandisers such as department stores and drug store chains will also be a valuable customer segment for the Company.

V. Competitive Analysis

Direct & indirect competitors.

Wax Shop Wax Shop is one of the popular candle shops in town and has been in business for xx years. Wax Shop offers a wide array of products that one would expect from a candle shop- scented candles, votives, tapers, jar candles and more. Besides offering candles, Wax Shop offers other products including reed diffusers, linen spray, room spray, wax melts, and pure-fragrance oil.

Home Fragrance Inc Home Fragrance Inc is a manufacturer of quality candles and industrial waxes. Candles ranging from pressed tealights to custom votives and scented pillar candles to private-label filled candles, Home Fragrance Inc’s flexible production facility allows it to meet unique manufacturing demands with a quick turn-around time without compromising quality. Waxes ranging from paraffin to natural and custom wax blends to wax additives. The company is a 5th generation family-owned and run facility, based in the [location] uses high-grade raw materials and tests every production batch to provide consistent and uniform products – ranging from industrial to luxury. Home Fragrance Inc, on the other hand, does not sell its products through retail stores.

Candle Coop Candle Coop was established in [xx]. It has a solid reputation for treating its clients right. Candle Coop’s differentiating factor is proprietary soy wax formula. This unique blend of wax offers a natural and environmentally friendly solution to fragrance the home. The exclusive odor eliminating formula it uses seeks and eliminates odor molecules, rather than masking the smell. Candle Coop’s Pure Air Odor Eliminating candles work on almost any type of odor; pet, garbage, cooking, basement, bathroom.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

• Management : The Company’s management team has xx years of business and marketing experience that allows them to market and serve customers in an improved and sophisticated manner than the competitors.
• Relationships : Having lived in the community for xx years, [Founder’s Name] knows all of the local leaders, newspapers, and other influencers. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.
• Great service at an affordable price : The wide range of products and services offered by [Company Name] nearly equals the most premium positioned competitor, [Competitor Name]. However, [Company Name] will offer candles at a much more affordable price.

VI. Marketing Plan

The [company name] brand.

[Company name] seeks to position itself as an upper-middle-market competitor in the candle making industry. Customers can expect to receive beautifully-designed candles from skilled artisans for a price somewhere between discount chains and luxury establishments.

The [Company Name] brand will focus on the company’s unique value proposition:

• Offering a wide collection of candles for different occasions and settings
• High quality, eco-friendly ingredients
• Moderate price point
• Well-trained staff that prioritizes customer satisfaction
• Thorough knowledge of the industry

Promotions Strategy

[Company Name] expects its target market to be individual buyers, retail locations and spas throughout the US. The Company’s promotional strategy to reach the audience includes:

Pre-Opening Events Prior to launching the business, [Company Name] will organize pre-opening events designed for prospective customers, local merchants, and press contacts. These events will create buzz and awareness for [Company Name] in the area.

Public Relations [Company Name] will hire an experienced PR agency/professional(s) to formulate a compelling PR campaign to boost its brand visibility among the target audience. It will look to garner stories about the company and its offerings in various media outlets like newspapers, podcasts, television stations, radio shows, etc.

Social Media Marketing Social media is one of the most cost-effective and practical marketing methods for improving brand visibility. The Company will use social media to develop engaging content in terms of different candle designs and customer reviews that will increase audience awareness and loyalty. Engaging with prospective clients and business partners on social media platforms like Facebook, Instagram, Twitter, and LinkedIn will also help understand changing customer needs.

Word of Mouth Marketing [Company name] will encourage word-of-mouth marketing from loyal and satisfied clients. The Company will use recommendations and word-of-mouth marketing to grow the customer base through the network of its existing customers. The Company will be incentivizing its existing customer base to encourage their friends to come and try their product for the first time.

Special Offers The Company will introduce special offers to attract new consumers and encourage repeat purchases, which will be quite advantageous in the long run.

Pricing Strategy

[Company Name]’s pricing will be moderate, so customers feel they receive great value when availing of the products they are paying for. The customer can expect to receive high-quality candles for a more affordable price than what they pay to ultra-premium brands.

VII. Operations Plan

Functional roles.

[Founder’s Name] will run the day-to-day operations of the candle manufacturing plant, including scheduling, sourcing and purchasing supplies and basic equipment, keeping the company’s books, maintaining legal licenses, handling insurance, and ensuring that the company meets government regulations.

To execute on [Company Name]’s business model, the company needs to perform several functions, including the following:

Administrative & Service Functions

• General & administrative functions including legal, marketing, bookkeeping, etc.
• Inventory management
• Hiring and training staff
• Candle Making and Packaging
• Maintenance personnel

VIII. Management Team

Management team members.

[Company Name]’s most valuable asset is the expertise and experience of its founder, [Founder’s Name]. [Founder’s Name] has been working in the candle manufacturing business for many years. [Founder’s name] is a seasoned artisan with a degree in Chemistry and holds a Master’s Degree in Business Management. He has immense interest in new candle making techniques, and also has the capital needed to start the business. [Founder] also has personal relationships with highly skilled chandlers in the candle making industry.

Hiring Plan

[Founder] will serve as the CEO. In order to establish candle making business and retail stores, the company will need to hire the following personnel:

• Candle Makers [Number]
• Product Development Manager
• Sales and Marketing Manager
• Store Manager

IX. Financial Plan

Revenue and cost drivers.

[Company Name]’s revenues will come from the sale of candles- both retail and wholesale. The major costs for the company will be staff salaries and supplies. In the initial years, the company’s marketing spend will be high, as it establishes itself in the market.

Capital Requirements and Use of Funds

Key assumptions.

  5 Year Annual Income Statement

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We all like our homes to smell nice and to feel cozy. What better way to make this happen than by lighting some candles. Not only are they an affordable indulgence, but they also make great gifts and literally brighten any room.

If you’re considering starting a business and are passionate about wicks, soy blends, and mastering the perfect scent, then starting a candle business may be the perfect fit for you. Keep reading to learn how to start a candle business.

How to start a candle business in 7 steps

Starting a candle business is a lot of work, but can also be very rewarding. Before you let your excitement take the lead, pause and consider following some of these steps first. To give your candle business the best shot at success, you’ll need to get all of your financial, legal, and marketing ducks in a row.

Step 1: Perfect your craft

When a candle is good, it can help you destress, add a decorative flair, or set the mood. But when a candle is bad, it can be a disaster. A candle can smell too sweet. Too floral. Too smoky. Or, the scent can be so weak it winds up smelling like nothing at all. Essentially, it’s easy to step too far in one direction and make a candle that no one wants to burn. Before you go through the process of starting a candle business, you’ll want to brush up on the basics of how to make a good candle and develop a few signature scents. You’ll need to master how to ensure a good burn time, how to make a scent that permeates a room, and how to create a scent that people will love.

You’ll also want to define what will make your candle line stand out. Will each candle be inspired by a different exotic location? Will you use really unique glassware to house your candles? Will you have witty names that make your candles perfect for gifting? A good scent and an affordable price point will get you far in the candle game, but you’ll also need to make sure there is a way for your brand to stand out in a very saturated market.

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Step 2: Create a business plan

Making candles is a creative process. Not to mention fun. Which is why it may be hard to tear yourself away from your experimenting to write a business plan. But writing a business plan is a creative endeavor too. And a little bit analytical. So put both sides of your brain to work, because the process of creating a business plan will prove invaluable to you throughout the life of your business.

A good business plan will contain several sections that can help keep your business on the right path as well as show your value to any potential investors or lenders. Ideally, you’ll do this step before starting a business, but it’s never too late to whip one up. Having a business plan will make the process of growing your business so much easier and can help you introduce the important details of your candle business to others. If you’re nervous about creating a business plan from scratch, consider using a business plan template or business plan software that can help you through the process.

Choose a business name

If you haven’t already chosen your business name, doing so while you’re in the process of pulling together your business plan is a good idea. Try to come up with a catchy business name that will stay in customers’ minds while also describing what kind of business you run. Of course, you’ll want to double check that your chosen name is actually available before moving forward with it. Confirm your desired name’s availability with your secretary of state’s website to see if your chosen business name is currently in use. Doing a simple Google and trademark search can also be helpful. If your desired name is free and clear, make sure you reserve your domain name and social media handles before someone else grabs them.

Choose a business entity

Another benefit of writing a business plan is that it will encourage you to choose a legal structure for your business. Choosing the right business entity is very important and a decision that should not be taken lightly. A few common forms of business entities are sole proprietorship, general partnership, limited liability company (LLC), and corporation.

If you’re struggling to decide what type of business structure you should choose, consulting a business attorney or tax expert can help. The extra expense may save you a lot of stress down the line, as the type of business structure you choose will affect your taxes, risk level, and other important factors. After you’ve chosen your business entity, you will register your candle business with the necessary federal and state agencies.

Define your products and services

Are you planning on selling candles? How about essential oils or reed diffusers? Will you take custom candle orders? You’ll need to define exactly what types of products or services your business will offer. Ask yourself the following questions in order to better understand what your products and services will be.

What type of scent-based products will you sell?

What will you charge for them?

Where will you purchase your candle supplies?

How much will these supplies cost?

How much will production cost?

Now that you have a business plan, you can use it moving forward to help guide your candle business.

Step 3: Get the proper licenses, permits, and insurance

This may not be the most fun step in the road to starting a candle business, but it is an important one. When you start a business, you’ll have to ensure you’re obtaining the proper licenses, permits, and insurance required by your local and federal government. These requirements will vary based on your location, business type, and chosen business structure. Chances are, you’ll require multiple business licenses at the state, federal, and local level. If you need help getting started, the SBA is a great resource, as is your local chamber of commerce.

Does your business require employees to help it run? Then you’ll need to obtain your employer identification number (EIN), which is required for tax purposes. Even if you don’t plan on hiring soon, there are some pretty valuable benefits of getting an EIN you should think about.

Something else worth looking into is business insurance , especially if you’ve hired employees. In that case, you may need to carry workers compensation, unemployment, or disability insurance. General liability and commercial property insurance may also be necessary. You should check with a business lawyer to make sure you have the right coverage for your business—especially when you consider the fact that as an owner of a candle business, you’ll be working with flammable materials. Do your due diligence and research your local fire codes and speak with your insurance representative about your fire coverage needs.

Step 4: Decide where to sell your goods

Where are you planning to sell your candles? How about online, in a boutique, or at your local farmers market? You can always open your own storefront, but maybe you want to start small at first and sell your candles to local boutique owners. Consider all the options available to you and don’t be afraid to start small while you build brand loyalty and get customer feedback.

If you want to sell online, but aren’t ready to launch your own ecommerce website, you can always sell your candles on a digital marketplace like Amazon or Etsy . There are countless helpful ecommerce platforms you can choose from, so take your time investigating which is the best fit for your business.

Step 5: Find small business funding

It’s a cliché, but sometimes it takes money to make money, and starting a candle business is no exception. In order to pay for supplies, marketing, production, insurance, legal council, and more, you’ll may need some sort of business funding. Start by considering the following funding options.

Business lines of credit : A more flexible form of credit than a standard business loan, a business line of credit provides you with a set amount of money that you can choose to draw from only when you need it.

Business credit cards: Newer business owners may be better off with a business credit card , as they require less credit history than a loan. Generally, you can find a 0% intro APR credit card, which is like having an interest-free loan if you pay off your balance before the introductory offer is over and a variable APR sets in.

Equipment financing: If your business requires expensive equipment, then equipment financing may be your best option. Generally for this type of financing, a lender loans money specifically to purchase equipment. They then use this equipment as collateral for the loan.

Startup funding: A brand-new business owner should consider startup financing options such as SBA microloans or a business grant . Crowdfunding has also become a popular option for easy startup funding.

Once you obtain your funding or begin to rack up expenses or earn income, you should take steps to keep your business and personal finances separate from each other. Then, consider finding an accounting software program to manage your business’s financials.

Step 6: Find and manage candle supplies

At first, you may be able to just pop over to your local craft supply store to get some wax and scents for your candles. But once your business begins to grow, you’ll save a lot of money by buying supplies in bulk from a wholesale supplier. You’ll want to start sourcing affordable supplies straight away so you can test for quality and find the right supplier for you. Some candle making supplies you might need are:

Wax such as paraffin, gel, soy, beeswax, or another type

Containers for candles

Fragrances such as essential oils

Coloring agents

Shipping and packaging supplies

Before you place any large orders, you should plan out how much inventory you will need and how you will manage it. Not only will doing so make finding suppliers easier, but you can begin to form a reliable inventory system. You may want to consider using an inventory management app to organize the comings and goings of your candle making supplies.

Step 7: Start marketing your candles

Once you’ve chosen your business name and started to develop your brand, you can market your business. Word of mouth is ideal, but you can’t rely on it. This is why having a well thought out marketing plan will come in handy. You’ll want to start by thinking of what your candle’s selling points are. Do they last longer than others? Smell stronger? Are they made from more sustainable ingredients? Identify what your main selling point is and how you can best present that message to potential customers.

Social media is a free, fun, and easy place to start. You might want to identify which channels would be best for your business and begin to build a presence on them. Email marketing is also an affordable option worth considering. The best part about social media and email marketing is that your customers choose to sign up for your advertisements. You have a captive audience, so take advantage of that fact.

Start Your Dream Business

The bottom line

If you really want to take your candle business to the next level, the steps above can help you pair your passion for candles with a solid plan for execution. The end reward could be a candle business that offers profit and creative joy for years to come.

On a similar note...

Candle Business Plan Template & Guidebook

Are you thinking about starting your own candle business? This comprehensive candle business plan template and guidebook offers the necessary steps to help you turn your dreams into reality. Learn how to gather the resources, map out your strategy, and set yourself up for long-term success through this business plan guidebook. Whether you're a beginner or an established entrepreneur in the candle industry, this blueprint will help you create a successful and sustainable business venture.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Candle Business [11 Steps]
• 10+ Best & Profitable Candle Business Ideas [2023]
• 25 Catchy Candle Business Names:
• List of the Best Marketing Ideas For Your Candle Business:

How to Write a Candle Business Plan in 7 Steps:

1. describe the purpose of your candle business..

The first step to writing your business plan is to describe the purpose of your candle business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a candle business:

Our purpose is to create beautiful, handcrafted candles that bring joy, light and comfort into people’s homes. We strive to deliver the highest quality products to our customers and provide a unique, personalized experience. Our mission is to ignite a passion for artisanal candles through innovation and sustainability that brings value to our customers, supports our local communities, and provides meaningful employment opportunities for our employees.

2. Products & Services Offered by Your Candle Business.

The next step is to outline your products and services for your candle business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your candle business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your candle business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your candle business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a candle business?

To run a Candle business, you will need the following equipment, supplies, and/or permits:

• Fragrance oil
• Thermometer
• Heat resisting pot
• Stirrers or spoons
• Labels, tags, or stickers for packaging
• Business permit/license from your local government (if required)

5. Management & Organization of Your Candle Business.

The second part of your candle business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your candle business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Candle Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a candle business varies based on many different variables, but below are a few different types of startup costs for a candle business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your candle business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your candle business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your candle business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Candle Business Plans:

Why do you need a business plan for a candle business.

A business plan is an essential tool for any business, and a candle business is no exception. It can provide guidance and direction as to how the business should be run and structured, what goals should be set, how resources should be allocated, and what strategies can be employed to achieve success. It can also help entrepreneurs understand their target market, identify potential competitors, and determine their pricing strategy. Finally, it can act as a roadmap for obtaining financing to get started and grow the business.

Who should you ask for help with your candle business plan?

A qualified business consultant or business mentor is the best person to ask for help with a candle business plan. They will be able to provide expert advice on how to develop a successful plan and can help you identify any potential challenges or opportunities. Additionally, an accountant or financial advisor may also be able to provide valuable insight into the financial side of starting a business.

Can you write a candle business plan yourself?

Writing a business plan for a candle business can be a relatively straightforward process. You will need to research the market and include facts, figures and projections that demonstrate you understand the industry. Additionally, you will need to detail your proposed product offerings and pricing, marketing strategy, operational plan and financial projections. You should also consider outlining any potential risks or challenges that your business may face in order to demonstrate that you have thought through your business plan in its entirety. It is possible to write a business plan yourself, but it may be beneficial to seek the help of an experienced consultant or consultant agency to ensure accuracy and quality of your work.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

How to Start a $500K/Year Candle Business

March 5, 2024

Did you know that you can start a candle business for less than $100 and grow it into $500K in annual revenue?

Jocelyn and Jen started RXLA as a side hustle making gifts for coworkers, then started going to farmers markets, and eventually opened a candle store and expanded their offerings on their way to bringing in a half-million dollars per year.

We’ll share strategies for how to start a candle business with just a little money, smart marketing, and responsible scaling.

Click on any of the links below to jump to the section that interests you, or just continue reading.

Candle Business Case Study: RX Candles Los Angeles

Candle industry summary, step 1: learn how to make candles, step 2: define your candle making brand, step 3: create a candle business plan, step 4: secure funding for your candle line, step 5: get business insurance, step 6: gather supplies, step 7: create an online store, step 8: market your business, step 9: sell candles, things to consider when starting a candle business, ideas for a candle making business, how to start a candle business with no money, open your own candle business.

Jocelyn started RX Candles in 2013 as a hobby. When the business venture received crowdfunding, she invited Jen to help create soy candles. The candle brand opened a local craft store, but the pandemic caused it to shut down.

They are still recovering from the hit they took from closing the retail store, but increasing their offerings and selling wholesale has helped them reach $500K in annual revenue with 50% gross margins.

Customers loved their homemade candles so much that they asked for other products, services, and ways of buying. As the sisters gained confidence in their products, they realized they needed to listen to their customers and provide the services they—and other potential customers—wanted.

Keep reading to learn more about the candle industry.

According to Grandview Research , the candle industry was worth approximately $13.6B in 2023 and is expected to reach $20B by 2030.

How much does it cost to start a candle business?

The candle industry has a low barrier to entry. According to Crowdspring , you should expect to spend between $9.5K to $78K to start a candle business, with an average of around $44K. But we’ve interviewed two business owners who say they started candle businesses for $100

A candle maker’s startup costs will vary depending on the cost of living in their location, supply and materials costs, and other factors.

Is candle making a profitable business?

A candle making business can be highly profitable, with gross margins of 50%. Ingredients, packaging, and marketing are some of the primary costs that will impact your profitability.

Can you make money selling candles from home?

Yes, you can start a candle business from home and make decent money, but it may be more cost-effective to utilize a fulfillment center to fulfill your orders. There may be restrictions in your town or homeowners’ association that impact the ability to run a home-based candle business.

Who are the major candle makers?

It’s helpful to research the major players in the candle market because you can identify gaps in the industry and ways to market your own products. The major candle makers include:

• Yankee Candle (Newell Brands)
• Luminex Home Décor & Fragrance
• MVP Group International, Inc
• Universal Candle
• Qingdao Kingking Applied Chemistry Co., LTD
• Empire Candle Co., LLC
• Hyfusin Group Holdings Limited
• Dandong Everlight Candle Industry Co., Ltd.
• Fushun Pingtian Wax Products Co., Ltd.

While the major players in the industry get most of the revenue, there is always room for new entrants to make a great living selling candles.

How to Start a Candle Business

It helps to have a path of action before you start a candle business. Follow the steps below to start a successful candle making business:

• Learn how to make candles.
• Define your brand.
• Plan your business.
• Secure funding.
• Get business insurance
• Gather supplies.
• Create an online store.
• Market your business.
• Fulfill orders.

Before you can start selling candles, you need to know how to make them. Jazmin, another successful candlemaker, explained how to accomplish it in our interview. Watch the interview below:

Let’s look at what you’ll need to get started.

Tools and Materials for Candle Making

Good tools and candle making supplies can make the job more fun and more efficient. At a minimum, you’ll need:

• 10 pounds of wax
• Pouring pitcher
• Pot to put the pitcher in to create a double boiler
• Thermometer
• Containers to hold the candles
• Scented fragrances

Jen told us:

Candle brands will want to scale responsibly, which means as the business grows, you’ll want to invest in better tools for efficiency.

How to Make Candles to Sell

You can start by buying a candle making kit, but as you learn, you’ll want to pick your own wax and essential oils. The candle making process normally follows the steps listed below:

• Fill a larger pot with water and the pouring pitcher with wax flakes.
• Hang the pouring pitcher on the inside of the larger pot to effectively create a double boiler.
• Wait for the wax to melt, which will take 45 minutes to an hour depending on the temperature.
• Pour the wax into candle molds.
• Add scents and wicks.
• Let them dry.
• Package the candles.

Jazmin told us:

When you make candles, only about 20% of the scent will actually be smelled, so you need to be aware of that [when adding scents], otherwise you won’t be able to smell it.

You’ll want to create a coherent brand for your candle making business. Some of the things you’ll need to consider include:

• Target market: Who will buy your candles? Will you be mass-producing candles or creating a luxury brand image? Identifying your target market makes marketing and branding efforts easier.
• Brand identity: What makes your candles unique? What sets them apart from other products on the market? Your brand identity will include your business name, logo, colors, and physical and digital design. Learn more about candle business names here .
• Brand story: What inspired your candle business and the branding for it? A good story helps you connect with customers and create a more meaningful experience.
• Brand values: What does your candle company hold dear? Think about how you operate your brand and what you want it to tell people. Your values should guide everything you do, including your materials, packaging, and shipping methods.

Creating a brand won’t happen overnight, but after continually telling your story and showing your values.

Every business should have a workable plan to help guide decisions. When writing a candle making business plan, you’ll want to include the following:

• Niche: Explain what makes your small candle business different and describe the target audience that your products appeal to.
• Validate your business idea: Explain the research you have performed to establish your candle business will appeal to your target audience. Learn how to validate an idea .
• Business structure: New businesses normally choose a limited liability company or sole proprietorship as their business structure .
• Budget: Estimate your costs to start a candle business and operate it for one to three years. The budget will help you understand how much funding you’ll need until the business can support itself and your lifestyle.
• Business bank account: Open a business bank account to help separate your personal and business expenses. You can also get an Employer Identification Number ( EIN ) to open a business bank account and access materials at wholesale prices.
• Marketing plan: A marketing plan spells out how your candle business will approach products, pricing, placement (where you sell the goods), and promotion of your candles.

The biggest thing to remember about writing a business plan is it should be easy to understand, well-documented, and as short as possible.

Download our free business plan template and work through it while watching the video below.

Jen suggests self-funding when you start a candle brand. Other small business funding options include crowdfunding, a standard business loan, a Small Business Administration loan, or an interest-free loan from friends and family.

Learn how to get business loans here .

You’ll want to get insurance when you create candles. Candles can start fires, and small business owners risk lawsuits from customers or employees. We suggest starting your business insurance search with Simply Business because it compares rates from the leading insurance companies.

Learn more about small business insurance here .

New business owners will need to get the candle wax, different fragrance oil blends, packaging, and any equipment they don’t already have.

Depending on your startup capital and business needs, you may be able to buy most of the products on Amazon, or you may need to reach out to manufacturers.

You’ll want your own website for candle sales. That means you’ll need a domain name and a website builder . Then you’ll need to create a home page and product pages for each type of candle you sell. You might want categories like:

• Scented candles
• Luxury candles
• Decorative candles
• Fragrance oils
• Tea light candles
• Container candles
• Birthday candles
• Liquid candles
• Insect repellant candles
• Flameless candles
• Pillar candles
• Aromatherapy candles

Read more about the different types of candles on Styles at Life .

You’ll want to market your candles to your target market. Each small candle business will have a different marketing strategy depending on their target market, but most candle companies will include a combination of:

• Social media marketing
• Email marketing
• Content marketing
• Traditional marketing channels

Jen explained that their marketing strategy consists of local farmers markets, pop-up shops, social media, and email marketing. She also explained:

I feel like our biggest mistakes were not going digital fast enough. If we had a website and collected emails from the beginning we would have grown much faster.

Fulfilling orders is another crucial part of running a candle line. When you’re selling online, this will mean packaging and shipping the candles to consumers or other small business owners.

When you sell at local markets or a local craft store, you’ll still need packaging, but it could be a decorative box and branded bags as opposed to a box that is ideal for shipping.

When considering how to start a candle business, you’ll need to consider:

• Where am I going to sell my candles?
• Am I going to hire employees or do it all myself?
• What technology do I need when starting candle business operations?
• What will my pricing strategy be?

Let’s look at each of these.

Find a Location for Your Candle Business

There are a variety of places you can sell your candles. If you are wondering how to start a candle making business at home, you can do so using this guide and sell them on your website. Other options include:

• Retail stores
• eCommerce platforms
• Flea markets
• Your local farmers market

A candle business makes different amounts of money depending on the locations they sell their products and the cost of doing business for each type of store.

Hire Employees for Your Candle Business

A dedicated candle maker may grow to the point of needing to hire employees. When you do, you’ll need to get an EIN if you haven’t already. This is how the IRS identifies employers.

You’ll also need to have payroll software and optional benefits. Many accounting software providers include payroll resources, but if you want to consider other options, check out our article where we compare the 15 best HR companies .

The Department of Labor requires employers to display poster notices for employees, either electronically or physically in the workplace. A comprehensive employer guide for how to display these posters is available on their website.

You’ll also need to follow the following requirements:

• The Federal Unemployment Tax Act (FUTA) requires any business with employees to pay a payroll tax.
• Employment Eligibility Verification (Form I-9) allows business owners to verify the identity and employment clearance of every person they hire.
• Meeting Occupational Health and Safety Administration ( OSHA ) standards and enforcing workplace safety are necessary for any business.
• Worker’s Compensation Insurance is required to protect your business and employees in case of injury.

Keep reading for information on the technology you’ll need.

Implement Technology to Run a Candle Making Business

When following this step-by-step candle business guide, you’ll need to implement some technology. Most of the technology that RXLA uses is for marketing purposes. They mentioned using Klaviyo for their candle brand email marketing.

Create a Pricing Strategy

One of the easiest ways to ensure you’ll make good money is to keep your candle startup costs low and charge market value for the products. You’ll want to target a gross margin of 50% for your candle business. To calculate the price easily:

• Add up the total costs for a batch of candles
• Multiply the cost by 2.
• Divide by the number of candles created.

That should put you right at 50% gross margins.

Your pricing strategy can be created in a few different ways. The primary ways of pricing candles are:

• Add up all your costs and divide them by the number of candles you make.
• Add the amount you want to earn for each candle sold based on the time it takes you to make, sell, package, and ship each candle. So if you spend four hours making and shipping 200 candles and want to make $100 per hour, that’s $2 per candle you add to the costs.
• Look up comparable products and price your items based on them.
• Create a brand story that makes your particular candle more valuable. This is the strategy that Jazmin used.

Whichever strategy you use, make sure you are realistic about how much time you are willing to dedicate to it. If you are only going to spend a few hours a day, you can’t make as much as if you treat it like a full-time job.

Candlemakers primarily target women, but according to the National Candle Association (NCA), both men and women consider candles appropriate gifts. They say the most common times people buy candles are:

• During the holiday shopping season, which is when 35% of sales occur
• Housewarming gifts
• Gifts at dinner parties
• With thank you notes
• For adult birthdays

To start a candle business with no personal finances, you’ll normally need to focus on selling candles using a “print”-on-demand or drop shipping strategy. Once you have built up some money from candle sales, you can start reinvesting in the supplies and equipment to start making your own homemade candles.

The good news is that it’s inexpensive to start selling candles. Both of the business owners we talked to have started with $100.

Making candles might not seem like a profitable business, but it has the potential to blossom into a high income. Jocelyn and Jen started crafting candles as gifts, sold them in farmers markets, opened and closed a brick-and-mortar store, and were late to the digital marketing game, but they still reached an impressive $500K in annual revenue.

Their story teaches us valuable lessons about resilience, adaptability, and the power of listening to customers. They found ways to overcome challenges and expand their offerings. You can use their candle business tips to succeed too.

The candle industry is ripe with opportunity. With global revenue projected to soar in the coming years, candle business owners can sell candles to make a great living. And the beauty of it all? Given Jocelyn and Jen started with $100, a candle business is one of the best businesses to start from home.

As you embark on your candle making journey, remember that success lies not just in the quality of your product but also in the strength of your brand, the efficacy of your business plan, and the dedication to continuous improvement.

Whether you dream of creating luxury candles or catering to a specific market segment, the possibilities are limited only by your imagination and determination.

So ignite that spark of creativity, pour your passion into every candle you craft, and watch as your business illuminates not just spaces but lives, one flickering flame at a time.

80% of businesses fail... Learn how not to.

Learn from business failures and successes in 5 min or less. The stories, frameworks, and tactics that will make you a 10x better founder.

Brandon Boushy

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How to Register a Business (in 5 Easy Steps)

Small Business Administration

Step 1. verify the business entity name is available.

• Business name
• License number
• The principal or Registered Agent
• Reseller Permit

Step 2. Choose the business structure

• If a single owner does not want to protect personal assets, go with a sole proprietorship.
• If there is more than one owner, go with a partnership.
• If yes, go with a corporation.
• If not, go with an LLC or limited liability partnership.
• Business liabilities are separate from personal liability.
• Business assets are separate from personal assets.

Step 3. How to register a business

• Secretary of State Offices for each of the states you plan to have a physical presence in
• Internal Revenue Service ( IRS ) for getting an Employee Identification Number
• United States Patent and Trademark Office ( USPTO ) for trademark protection
• Local agencies or city governments, which can normally be found on the Secretary of State Office while you register your business structure
• The appropriate state agency to approve a seller's permit

Creating the business structure for a Limited Liability Company

Sign up for an account on your state’s website.

How to register my business

Application to Register a Business Name as an LLC

• Do you already have a UBI number, which is a Unified Business Identifier to help the state track businesses across government agencies?
• Another state may have something similar.
• Have you already reserved the name?
• I did not, I added "Super Awesome Clothes" and it tells me it's available.
• Who is the registered agent?
• Gives the option of self or other
• If you are in the state, you can be the registered agent, which I am doing for the purpose of this example. If you are not in the state you will need a registered agent.
• What is their address?
• What is the address of the primary place of business?
• Do you want to upload a certificate of formation?
• You will have to do this to register your business name.
• For those wondering “how do I register my business as a corporation,” you'll need the Articles of Incorporation.
• Choose perpetual unless it is for a set duration.
• Choose the date you want the business to become a legal entity.
• I chose the date I am writing this.
• Executor–You can use yourself.
• Opt-in for emails.
• Add documents.
• Include the signature of the authorized person (you).
• Reseller’s license
• Local business licenses
• DBA (if you need small business registration as a partnership or a sole proprietorship)

Step 4. Get an Employer Identification Number

• If your business structure includes applying for tax-exempt status, it needs to be fully approved before applying here.
• Fifteen minutes of inactivity will end the application for the Employer Identification Number.
• Social Security Number-All citizens should have one.
• Nonresident alien who is required to file a U.S. tax return
• U.S. resident alien who is (based on days present in the United States) filing a U.S. tax return
• Dependent or spouse of a U.S. citizen or resident alien
• Dependent or spouse of a nonresident alien visa holder
• Nonresident alien claiming a tax treaty benefit
• Nonresident alien student, professor, or researcher filing a U.S. tax return or claiming an exception
• Employer Identification Number - If you already have a business and this will be a subsidiary, you can use your previous EIN.

• How many members are in the LLC?
• What state is the business in?

• Does your business own a motor vehicle with a taxable gross weight of 55,000 pounds or more?
• Does your business involve gambling or wagering?
• Does your business need to file Form 720 ( Quarterly Federal Excise Tax Return )?
• Does your business sell or manufacture alcohol, tobacco, or firearms?
• Do you have, or do you expect to have, any employees in the next 12 months that will require W-2?

Step 5. Save your documents somewhere safe

Wrapping it up.

How to Buy a Business With No Money (2024)

There are plenty of ways to buy a business with no money. One of the most common strategies is called seller financing—and nearly 80% of business purchases include at least some of it.

We’re going to share some options for buying a business without money, or with very little money, up front. You’ll learn what to look for during a business acquisition and how to negotiate the deal.

[su_note note_color="#dbeafc"]If you’re looking to start buying businesses without money, click on one of the links below—or simply read on—to learn more.

Use seller financing

Get a small business administration (sba) loan, bring on investors or partners, work with business brokers, identify goals before you buy an existing business, find the right business for sale, value the business, negotiate your deal, close the deal and transition into ownership.

• Why start new businesses when you can buy businesses with no money? [/su_note]

How can I buy a business without money?

There are multiple ways to buy an existing business from the current business owners. Using a combination of these strategies can help you buy a business with no money of your own. Some of the most common funding options include:

• Using seller financing
• Getting a Small Business Administration loan
• Bringing on investors or partners

Let’s look into each.

Seller financing, also called owner financing, is one of the most common ways of transferring ownership from a current owner to a new business owner. According to the mergers and acquisitions firm Morgan & Westfield , 80% of all small business purchases use at least some seller financing.

In deals that use seller financing, sellers fund a portion of the small business purchase in exchange for a percentage of the cash flow for a specific period after the new business owner takes over. The buyer often pays the remaining balance with a down payment and periodic installments.

The terms of the deal may look something like below:

• Percent seller finances: 10% to 20% • Your down payment: 30% to 80%, but 50% is fairly standard • Interest rates: 6.6% to 16.5%, comparable to the Small Business Administration's current rates • Note duration: Three to seven years

When you propose seller financing, you’ll likely have to create and sign a promissory note and agree to a Uniform Commercial Code lien . Most sellers may require you to maintain specific financial benchmarks as well.

The SBA offers small business loans to people buying a small business. 7(a) loans are easier to get when buying an existing business because there is a record of profitability that new ventures do not have.

When applying for a 7(a) loan, apply for enough financing to purchase the existing business and cover expenses for ongoing operations.

You can also bring on investors or partners when you want to buy a business without money up front. Investors can be a friends-and-family business loan, venture capitalists, or crowdfunding.

How to buy a business with no money

Buying a business with no money is as simple as following the six-step process below:

• Identify goals before you buy an existing business.
• Work with business brokers.
• Find the right business for sale.
• Value the business.
• Negotiate the deal.
• Close the deal and transition into ownership.

Before you start looking for business acquisitions, you’ll want to think about what you are trying to achieve by buying an established business. You might buy a business to:

• Hedge risk: Investing in an established, income-generating business can limit risk and provide reliable income, as it has already gone through most of the struggles that upstart companies experience.
• Accelerate your retirement: A leveraged buyout allows you to keep your current financial investments and grow your income, which gets you closer to retirement.
• Finance your growth: Using leverage helps small business owners build their businesses quickly.
• Improve liquidity: Taking out a business loan for a business acquisition will help small business owners increase their cash on hand, which makes it easier to cover business expenses.

In addition to the goals listed above, you may be interested in a specific business model, like an online business or making money with passive income plays.

Buying an existing business is a complex task, and you need an experienced broker to help you enter your next business venture correctly. You’ll want a business broker because they:

• Have experience completing deals
• Have tools to help them find and evaluate businesses
• Routinely deal with business acquisition paperwork
• Help you through the process

Next, you’ll establish your business acquisition goals.

Buying a business has never been easier. There are several business listing sites, like:

When buying a business, you want to find businesses that can provide a win-win deal. Look for small businesses that have certain qualities. We’ll discuss the essential qualities of a business for sale next.

Look for an owner who is ready to get out

Buying a business is easier when the seller is looking for potential buyers and wants to sell the business quickly. You’ll have to find out the seller’s motivations for selling the business, which may include:

• Reaching retirement age
• Moving to care for a family member
• Equipment issues
• Lack of automation
• High churn rates
• Lack of marketing
• Revenue problems
• Employee turnover

Ultimately, each of these is a potential opportunity for a new business owner to get a deal on the small business and dramatically improve the cash flow and profitability. Some may also lower the purchase price or make it easier to receive seller financing.

Look for businesses with growth opportunities

Some businesses provide clear opportunities for growth if purchased. Look for qualities such as:

• Outdated technology: Just by implementing new tech, business buyers can dramatically improve operating costs. SBA lenders have loans specifically meant to help a business’s success through improving technology.
• Lack of competition: Business buyers can really benefit when the competition can’t keep up with the improvements you make once it’s your own business.

Look for businesses you’re familiar with

While it’s possible to purchase a business you (or consumers) don’t know much about, searching for the following qualities can help ensure a seamless transition:

• Age: Old, reputable businesses can provide financial security and provide a brand to build upon.
• Known business models: Own businesses you understand. Spending money on a business model you must learn adds risk and time to learn the business.

Next, you’ll want to dig into the financial statements and other business aspects to decide on a fair business price.

You’ll want to visit the business to check it out. There, you’ll be able to see how it operates, determine where it can improve, and make other observations that can’t be made from afar.

If you like what you see so far, it’s time to send a letter of intent to the business owner so you can start the due diligence process.

You’ll want to understand their financial statements, especially areas like cash flow, operating expenses, accounts receivable, and outstanding debt.

You’ll also want to understand the age of the equipment to determine if you’ll need equipment financing. You may also be able to use the equipment as collateral to secure alternative funding options.

You might want to prepare a list of questions before buying businesses . Then, you’ll want to calculate business valuation , which will guide how much money you’re prepared to spend.

Buying a business will require negotiating a price that’s fair to both business owners. You can negotiate both the purchase price and the sale terms, but you need to decide which is more important to you and which is more important to the seller.

When you have multiple financing options lined up or are using your own money up front, you might find it most beneficial to negotiate the price. But when you seek seller financing, you might just give them their asking price in exchange for more favorable financing options.

Offer a higher interest rate

Seller financing can be made more attractive by bumping up the interest rates.

For instance, let’s assume the buyer wants $500K and you want to pay over seven years. That’s not an attractive deal if you offered to pay $75K annually. To get more favorable payment terms, you can raise the interest rate.

Which offer would you take?

• $500K up front
• $100K up front and $478K over 2 annual payments
• $100K up front and $504K over 3 annual payments
• $100K up front and $528K over 4 annual payments
• $100K up front and $550K over 5 annual payments
• $100K up front and $575K over 6 annual payments
• $100K up front and $630K over 7 annual payments

All except for the last one are paying 10% interest. The last option has a higher interest rate, pays the seller an extra $4K per year, but still allows you to keep more cash on hand each year.

Bring on a silent partner

You can always bring in a silent partner if you don’t have the cash up front. Silent partners contribute monetarily and often benefit from the sale, but they don’t take an active role otherwise.

You might also be able to secure venture capital, though venture capitalists tend to want more involvement. Make sure you negotiate for the venture capitalist to be a silent partner because many actively help investments grow.

Find a secondary source of financing

Seller loans don’t normally cover all the financing when buying a business. Loans like SBA financing or traditional bank loans may be secured by using equipment or accounts receivable (meaning the money you are set to make) as collateral.

Learn about in our article about business loans .

Raise the capital through crowdfunding

Crowdfunding uses alternative financing options to get the money you need. With crowdfunding, you can offer donors incentives (like products or equity) in exchange for contributions, or you can offer to pay them back with just like if you were given a loan.

There are tons of options for crowdfunding. Learn more below:

Use your cash flow

A great way to get a loan to buy a business is using your cash flow or accounts receivable to secure a loan. They’ll want to take a specific amount out each week, but it’s another to purchase a business with no money up front.

Learn more about cash flow loans through National Business Credit .

Finance growth

While deciding how to get financing for a business, don’t forget to give yourself some wiggle room for improvements and operational expenses. You might need to write a business plan to show how the money will be spent. Learn more in our guide to writing a business plan .

Take your time to show you have a plan to turn the funds into new revenue and prove you can pay the loan back.

Once you’ve secured professional advice, chosen the business you want to buy, done your due diligence, secured a loan, paid the down payment, and signed the contract, you’ll still have to transfer ownership. This step includes:

• Building an operational transition timeline
• Building relationships with employees
• Transferring all authorization, contracts, bank accounts, and other legalities
• Hiring an operator if you plan to be a passive investor

Why start new businesses when you can buy businesses with no money?

Starting a new business can be a real challenge if you don’t have money. You have to learn a lot as you go and may not be able to afford new freelancers or employees until you start earning revenue.

But buying an existing business without money is something that happens all the time. You’ll start with the business’s existing revenue and systems, then turn your focus to fixing areas that you’ve identified as problematic.

Have you ever bought a business without money? How did it go? We want to know.

How to Start a $420K/Year Consulting Business

What Is a Consulting Business?

Defining Consulting Business Ideas

• Types of consultants
• Different business models
• Industry outlook
• Major players

Types of Consulting Businesses

• IT Consultant: Focuses on improving the use of software and hardware so companies can achieve more profitable business goals. (NAICS code 54151)
• Real Estate Asset Management & Consulting: Helps people and businesses make better decisions involving real estate investments. (NAICS code 53139)
• Business Management Consulting: Advises businesses to better manage company resources including people, money, and supply chains. Typically broken down into smaller segments. (NAICS code 54161)
• Human Resource Consulting: Focuses on advising companies regarding hiring, meeting employment law, payroll management, and navigating the job market. (NAICS code 54161b)
• Marketing Consulting: Focuses on helping people attract clients through marketing campaigns, writing services, social media marketing, and brand consulting.
• Environmental Consulting: Consults on the environmental impact decisions have. These are especially common in the oil & gas industry, as well as in construction near protected habitats. (NAICS code 54162)
• Economic Consultant: Advises business owners on the industry outlook and other micro- or macro-economic issues. (NAICS code 54169)
• Sales Consultant: Helps businesses improve their sales strategy or improve the sales team’s performance.
• Tax Consultant or Financial Consultant: Helps businesses find ways to improve their financial results through accounting practices. Will normally be a Certified Financial Planner.

Which Business Model Is Best for a Consulting Business?

• Solo Consultant Model
• Productized Consulting Model
• Consulting Firm Model
• Hybrid Consulting Model

What is a Solo Consultant?

• A small number of clients
• High-value clients
• Building personal relationships
• Clients that need unique solutions

What is a Productized Consulting Model?

• Build sheet

What is a Consulting Firm Model?

Have you considered a Hybridized Model?

What is the industry outlook, who are the major players in the consulting business.

• Accenture PLC : Market leader in most types of business consulting
• IBM : IT Consulting
• Jacobs Engineering Group : Environmental cleanup and construction
• Omnicom Group : Marketing and PR
• Kirkland & Ellis : Law firm

• OnStrategy : $6 million annual revenue Strategy Consultant
• Kristin Cutura : Former Google Employee turned Google Ads Consultant
• Libby Gill : Brand and Leadership

How to Start a Consulting Business

• Writing a plan for your consulting company
• Funding your consulting
• Naming your consulting practice
• Meeting the legal requirements for a consulting business
• Market your consulting business
• Submit client proposals
• Perform business consultation

Write a Consulting Business Plan

• What consulting services you will provide: HR Consultant, Accounting consultant, management consultant, marketing consultant, IT consultant, brand consultant?
• Target market for your consultant business: What size companies will you target? What industry will they be in?
• How most consultants in your industry operate: Do they use affiliate links, provide implementation, or just advise?
• Your Business Model: Will you be solo, productized, firm, or hybrid?
• A Marketing Plan: How will you market your consulting company?
• Other Expenses: What other business expenses do you expect and how will you cover them?

Funding Your Consulting Business

How much profit can a successful consultant make, how much does it cost to start a successful consulting business.

• Business Formation : Free to $1,000 annually
• Internet : $30 to $200 monthly
• Website, Domain, Hosting : $100 to $25,000+ monthly for lower end or one-time plus upkeep for higher end
• Computer : $600 to $3,000
• Software and Other Equipmen t: $250+ per month
• Marketing Budget : 8% of the revenue you want to make

How to start a consulting business with no money?

Naming your own consulting business, get a domain name.

• Google Domains

Meeting the Legal Requirements for Consulting Services

Sole proprietor, limited liability corporation (llc).

Partnerships and Corporations

Apply for an ein, sales tax permit, tax filing and withholding.

Federal employment and labor law posters

• A state’s New Hire Program
• Employment Eligibility Verification (Form I-9)
• Worker’s Compensation Insurance
• Occupational Safety and Health Administration (OSHA)
• Disability Insurance—each state is different

Unemployment Insurance

Grow through marketing.

• Market research
• Marketing plan
• Launch a website
• Marketing on social media
• Growing your email list
• Tapping into and growing your network

Market Research

• Defining the industries you want to service
• Identify the size of companies you want to service
• Establishing the best way to reach these companies
• Finding common requirements for the industry you’ll provide services.
• Identifying industry trends
• Recognizing gaps are in the market

Create a marketing plan and use it

• Create meaningful content on my YouTube channel.
• Link to a free resource list or a free book to collect emails.
• Share new content through emails.
• Future clients can reach out for advice on their own business efforts.
• Business writing (Blogs and White Papers)
• Working with editorial services
• Hiring a Public Relations Consultant

Build a website

Marketing with social media, grow your email list.

Tap into Your Network

Running your consulting business.

• Hiring employees and payroll
• Submitting client proposals
• Helping customers

Hiring Employees and Payroll

• Post job openings
• Conduct interviews
• Decide fair pay
• Manage tax filings and withholdings
• Obey labor laws

Job Posting 

• Examples of previous work: Understand that many will be protected under a Non-Disclosure Agreement (NDA). Be willing to accept reviews.
• Availability: Most professionals will be remote. If you want someone who is available between specific hours specify that in the job post.
• Experience with software: You need people who know how to use the tools you use.
• Employee values: Every company values specific traits that vary. One might be focused on growth, while another is focused on cost cutting. It doesn’t help to put people who are focused on growth in a company trying to cut costs, they won’t fit.

Compensation

Fixed price or commission.

• Screenshot Monitor : Captures screenshots, time tracking, plus manual entry
• Upwork time tracker : Only for billing on Upwork
• ClickUp time tracke r: Built into ClickUp features (I don’t love it.)

Submit Client Proposals

• A questionnaire to establish what challenges new clients are experiencing.
• A proposal that outlines what you will and will not be doing in the process.
• Contract templates that should be filled out and sent with the proposal.
• Invoicing and payment system for current and new clients to pay for their consulting.

How to Retain Customers for Your Consulting Business

• Reducing inventory
• Reducing transportation costs
• Sourcing locally

Top Consulting Influencers

• Gary Vaynerchuk takes risks and shows new ways to market a business. He is a one to follow!
• Tony Robbins has helped ShakeShack, Airbnb, Salesforce, Serena Williams, and Aerosmith improve their brands.
• McKinsey & Co is considered the most prestigious consulting company by consultants.

To Learn More About Financing Candle business or any other venture Business Resources

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Did anyone find out where she gets the packaging from?

I’m just confused about where she buys the candle black boxes and then the actual mailing box.

I've reached out to her. Once she responds, I'll let you know where she gets them

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• Oct 5, 2023
• 10 min read

How to start a candle business in 2024: an 8-step guide

This post was last updated on October 5, 2023.

You’ve probably heard the rumors.

The candle industry is thriving. Last year alone, the global candle industry hit $6.8 billion—and it's currently on track to reach $9.9 billion in annual revenue by 2028, according to a report by Vantage Market Research .

Whether you’re looking to take a personal hobby to the next level or dive head-first into a new business venture, you’ve come to the right place. This step-by-step guide for how to start a candle business will outline everything you need to know.

Why should you start a candle business?

There are a number of reasons why a candle business makes for a good eCommerce business idea . To name a few:

Low startup costs - Candle-making doesn’t require a lot of tools or equipment to start. You could essentially run to your local craft store with little startup capital and get started today (though later you might want to upgrade to premium materials). This isn’t generally the case when it comes to how much it costs to start a business . Consider candle dropshipping also.

Easy to learn - There are tons of free online resources, recipes, and tutorials to help you understand the craft of candle-making (including this handy resource hub by the National Candle Association ). You can experiment with fragrances, containers, waxes, and wicks at your leisure and customize your candles however you’d like.

Better-than-average profit margins - What may cost you just a few dollars to make can typically be sold at a 25% to 50% markup , making operating expenses relatively affordable.

How to start a candle business in 8 steps

Master the craft of candle-making

Define your brand

Estimate your startup costs

Write a business plan

Make your business official

Create your startup inventory

Create your online store

Develop your marketing strategy

01. Master the craft of candle-making

The first logical step is to get familiar with the process of creating a candle. One of our favorite types comes from the Armatage Candle Company, which encourages new business owners to heed the "84 Candle Rule"—that is, create 84 candles and give most of them away.

The 84 Candle Rule gives you ample time to get familiar with the candle-making process, test various formulas, and collect feedback from friends and family.

Moreover, as you create more and more candles, you’ll learn to:

Graduate from a candle-making kit. To scale production, you’ll eventually need to invest in more professional equipment, like a 4-lb pour pot or a Presto Pot, that can support a higher volume than a kit.

Master the craft. Rather than splitting your time between learning how to create candles and run a business , you can focus on perfecting (and confirming your interest) in candle-making first.

Test various aspects of your candles. With each batch you make, you can test aspects such as smell, safety, burn time, and more until you develop a formula that you like.

Find suppliers. As you increase production, you’ll need to learn how and where to purchase supplies, whether locally or online—and can afford the time to shop around.

Make a variety of candles. Making 84 candles gives you plenty of room to explore various wax types, dyes, fragrances, and candle types (e.g., pillar candles, container candles, wax melts, etc.) that you can offer as part of your catalog.

02. Define your brand

Before presenting your candles to the market, you must figure out the who, what, and why behind your brand. Ask yourself:

Why are you starting a business ? - What is the story behind your brand, and the overall vision that keeps you motivated?

What is your target market - Are you looking to sell higher-end candles to be sold at luxury boutiques and stores? Or, are you looking to appeal to the masses and create candles that feature more economical packaging and containers?

Who is your ideal customer? - Perhaps you’re looking to sell high-end candles for working men and women aged 20 to 35 who want to spruce up their home offices. Or, perhaps your niche consists of avid campers aged 35 through 60 looking for a better-smelling, bug-repelling candle.

What makes your candles different? - Are your candles non-toxic? Are your scents extra delicious? Do you support a cause? It's important to establish your unique selling proposition (USP) in order to differentiate yourself from competitors.

Once you’ve answered these questions, you can enjoy an easier time figuring out how to bring your vision to life. Between deciding the types of candles you want to offer and how to brand your online store , a clear brand identity can help you to get things off the ground faster.

At this point, make sure to tackle these basic steps:

Decide on a business name - A strong, memorable name is invaluable. Take the time to think of a candle business name that represents your products or brand mission, while ensuring that it’s able to grow with your brand. If you need some inspiration, try the Wix Business Name Generator for free.

Create a logo - Design a logo that you can proudly sport on your product packaging, website, and marketing materials. The Wix Logo Maker can get your creative juices flowing, or find a professional designer on the Wix Marketplace .

Design your labels - Work with your designer to create labels for your candles that are reflective of your brand’s personality. Remember to observe candle label requirements and include essential information like your candle scent, product weight, and your company information.

03. Estimate your startup costs

When it comes to learning how to start a business , there are typically two types of startup costs that you’ll have to be aware of:

Production/manufacturing costs - These include the cost of manufacturing and packaging your products. Factor in equipment like your containers, waxes, wicks, fragrance oils, thermometers, and more.

Business/operating costs - These include any software subscriptions, shipping costs, small business insurance, and other bills you’ll have to pay to keep your business operations running smoothly.

Take the time to list out what items you’ll need to create your first 100 or so candles. At this stage, you’ll also want to get familiar with costs you should expect, both now and in the future.

For instance, you’ll need to budget money for any marketing or advertising that you plan to do around your products. You’ll also need to factor in taxes, plus recurring fees for any website software you want to use or partners (like 3PLs) that you want to team up with to scale and simplify operations.

04. Write a business plan

A business plan helps you plan out all aspects of your business and set yourself up for sustainable growth.

When developing your plan, it’s important to take your time and walk through the various opportunities and challenges confronting your business. Pinpoint your competitors, your differentiators, your distribution channels, and the resources at your disposal (among other things).

Most business plans will include the following sections:

Executive summary

Company name, description, and domain

Ecommerce market analysis

Products you’re selling and why

Operations plan

Marketing and advertising plan

Financial plan

Learn more about creating a strong eCommerce business plan .

05. Make your business official

It's time to turn your business into a legal business entity and take care of other business-essential steps. Don't worry. This part is a lot less scary than it sounds.

Register with your state

It is important to take where you live into account. Learning how to start a business in Massachusetts is very different from learning how to start a business in California , for example. Register your business name through your state and local governments. The easiest way to find where to register is by googling "register a business in [insert your state]."

The search results will contain several links for companies offering to register your business for you (for a fee). However, you can avoid the service fee by registering directly through your state's website. You’ll typically have to pay a small filing fee, which varies by state.

Get a federal tax ID

File for a Federal Tax ID (or EIN) number , which is required to open a business bank account, obtain a business loan, hire employees, and more. Fortunately, the application process is free and only takes a few minutes.

Apply for business licenses and permits

Once you have your EIN, you can complete the last step in making your business legal: apply for a business license . A business license includes your seller's permit and allows you to collect state sales tax on your transactions.

Perform another internet search to find the appropriate website for your state (i.e., google "register for a business license in [insert your state]"). Complete the application steps outlined by your state. Note that some states only require a general business license while others have additional local or county-based requirements.

Apply for insurance

Unfortunately, the reality is that candles are a fire hazard, and accidents can happen. Therefore, applying for insurance is one of the most critical steps in creating your business. Insurance not only protects your business, but it protects you and your family as well.

At a minimum, you'll want an insurance policy that provides general liability coverage. General liability is the most straightforward and covers third-party property damage or injury claims.

There are a lot of online resources about small business insurance. Do some research, consult a professional, and find a small business insurance company that provides the coverage you need and fits your budget.

Get a business bank account

For taxes and bookkeeping, it’s a good idea to keep your business income and expenses separate from your personal finances.

Each bank or credit union has different fees, transaction limits, and balance minimums for business accounts. So take some time to shop around for a local or online bank that will work for you.

Note: to open a business account, most financial institutions require a copy of your business formation documents (obtained when you registered your business), licenses/permits, and either your EIN or your social security number.

06. Create your startup inventory

Build your first products to list for sale. Start with a fragrance lineup that best fits your business and your purpose, and then every couple of months, launch a new fragrance and get feedback from your buyers.

This can help to keep your customers engaged and excited about new fragrances or product lines.

A good place to start is by launching a handful of fragrances, spanning a range of different categories, such as:

For example, Renee Candle Co. offers several distinct scents within these categories: Unwind, Noir, Tropix, Spiced, Lush and Cozy.

07. Create your online store

Here comes the fun part. Build a business website where you can collect orders for your candles.

Learn more: How to make a website

At this stage, it’s crucial to pick a reliable eCommerce platform. A platform like Wix’s eCommerce website builder offers a wide range of features and capabilities, including built-in catalog management, inventory management, and marketing tools that will be useful in the future.

All Wix websites are also built with SEO, reliability, security, and performance in mind. Meaning, you don’t have to worry about your site crashing when there’s a surge in traffic. And you can rest assured that your site is mobile-friendly and backed by the best security measures.

Read More: Proof that Wix is good for eCommerce

Thanks to these capabilities, you can focus most of your attention on designing the best, user-friendly site experience.

First, pick a layout design that best suits your brand. Most website builders provide several pre-made templates to help get you started. For example, Wix eCommerce includes more than 500 professionally designed online store templates , which can be further customized.

Build out your pages and pay special attention to the following best practices:

Use high-quality product photos - Offer a range of studio and lifestyle shots, and photos that show your candles at various angles. Heed these product photography tips in order to take pictures that are both compelling and informative.

Include detailed product descriptions - For each candle, clearly state the available size(s), fragrance, approximate burn times, and appropriate warnings or usage tips. The more detail you can include, the better for mitigating returns due to “item not as described.”

Make sure your products are easy to find - Ensure that your site is easy to navigate. As a general rule of thumb, all of your products should be accessible within three clicks. Leverage breadcrumbs, menus, and features like “related products” to encourage product discovery on your site.

Offer multiple payment options - When connecting a payment provider to your store, keep in mind that some customers may want to pay with a credit card while others may prefer PayPal or buy-now-pay-later services like Affirm. Reduce friction at checkout by offering a variety of payment options. Wix Payments can make this possible on any Wix store—or you can choose from 50+ other payment options.

08. Develop your marketing strategy

You've done a lot of work up to this point. Now it's time to create an eCommerce marketing strategy and figure out how to spread the word about your store. As a Wix merchant, you can automatically access tools for business email marketing, social media marketing, blogging, and more.

Social media is a great place to start promoting your product, though you’ll want to avoid taking the spray-and-pray approach. Engage with social channels one or two at a time (there’s no need to create accounts everywhere just for the heck of it). Experiment with various types of posts—like videos and livestreams—and observe how people respond.

Pro tip : When talking about your product online, avoid subjective buzzwords like “amazing” or “best.” Instead, focus on your purpose and your story, and aim to demonstrate how your products are superior.

Other marketing tactics worth trying:

Create a newsletter to regularly engage with customers and recommend products

Start a blog as part of a larger SEO strategy, and to attract organic traffic to your site

Run ad campaigns that retarget your site visitors and/or help you get in front of new audiences

Incentivize customers to refer a friend to your website by offering special rewards

Collect user-generated content and social proof to display on your site

Run contests and giveaways to generate interest in your products

Participate in craft shows or other local events where you can demonstrate your products in person

Time to launch

So, you've laid the groundwork for your business, stocked up on supplies (plus equipment), built an amazing eCommerce website, and created your initial inventory. Now it’s time to put it all together and launch your candle business.

Remember to never stop being curious, even after you’ve opened the (virtual) doors of your business. Analyze your business regularly. Talk to your customers. Optimize and pivot as necessary.

Ready to start your new candle-making business? Create your online store with Wix eCommerce today.

Looking to start a candle business in a specific state

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How to start a candle business FAQ

What are some of the challenges of starting a candle business.

There are a few challenges that you may face when starting a candle business. These include:

Competition: The candle industry is very competitive, so you'll need to find a way to make your candles stand out from the competition.

Costs: Starting a candle business can be expensive, especially if you plan on making your own candles. You'll need to factor in the cost of supplies, packaging, marketing, and shipping.

Time: It takes time to build a successful candle business. Don't expect to become an overnight success.

What are some tips for starting a successful candle business?

Allison Lee

Editor, Wix eCommerce

Allison is the editor for the Wix eCommerce blog, with several years of experience reporting on eCommerce news, strategies, and founder stories.

• Sell Online

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Candle Making Business Plan Template

Whether you want to start your own candle business or expand an existing one, you need a business plan. the following candle business plan template lets you know which elements you need to include in a successful candle making business plan., fill the form to download business plan templates.

To ensure your candle business success in this highly competitive market, you need a properly structured candle business plan. With over 12 years of experience, we have helped over 5,000 entrepreneurs create business plans to start and grow their candle making businesses. Using the following candle business plan template, you can put together an effective business plan.

Things to Know Before Writing a Candle Making Business Plan

Candle-making is heavily influenced by consumer spending power. Scented and unscented candles are produced in this industry. The candle has almost entirely lost its function as a source of light, but it has re-emerged as a popular home decor item.

As a result, they are highly discretionary purchases that compete with other home decor products and air fresheners. In the coming year, the industry is expected to enjoy continued growth in disposable income, consumer expenditures, and trade conditions.

According to IBISWorld, revenue growth over the five years to 2025 is expected to be 2.9% annually, reaching $1.9 billion.

Among the major products and services in this industry are

• Votive candles
• Pillar candles
• Decorative candles in jars or containers
• Tumbler candles
• Other types of candles

Key Success Factors for the Candle Making Business

Despite the challenges of the Candle Making industry, we have identified 4 factors that can help you boost profitability, efficiency, and ultimately success.

• The ability to modify product offerings based on market conditions: Candle industry operators need to consistently offer new waxes, wicks, fragrances, and colorants to meet the changing preferences of consumers.
• Economies of scale: Economies of scale permit companies to minimize marginal costs, thereby making them more profitable.
• Creating premium goods: Customers in this industry are often willing to purchase premium products if they perceive them as being quality.
• Knowledge of the market: Gaining market share is very difficult in this highly competitive industry without marketing and brand awareness. These factors, however, are less influential in niche and ultra-niche markets.

Need a Professional Business Plan Writer for Your Candle Making Business?

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What is a Candle Business Plan?

A candle making business plan is a road-map for starting and growing your candle making business. Your business plan outlines your business concept, identifies your target customers, presents your marketing strategy, and details your financial projections.

Any bank or investor you approach will require a candle making business plan, so putting one together will be critical to securing funding.

In short, writing a business plan can help you succeed if you’re thinking of starting a candle making business or pitching to investors or venture capitalists.

Why You Need a Candle Making Business Plan

Candle making business plans can be used to gain interest from potential investors or to secure loans from banks. They are also helpful to you as the owner. A candle business plan allows you to thoroughly analyze every aspect of your potential business.

A solid, detailed plan gives you a clear path to follow, forces you to examine the viability of a candle business idea, and may help you better understand your company’s finances and competition.

Candle making business owners who have a business plan grow 36% faster than those who don’t, and 75% of fast-growing businesses have one.

A candle business plan is a living document that should be updated annually as your company grows and changes.

Free: Business Plan Examples

Do you need help creating a business plan? Check out these six free, proven business plan examples from different industries to help you write your own.

Funding Sources for Candle Making Business

No matter how large or how small your candle making business is, you should think about your financing options. Starting a candle business is no exception to the rule that it takes money to make money. You may require business funding to pay for supplies, marketing, production, insurance, legal counsel, and other expenses. 

Consider the following funding options first:

Business lines of credit

A business line of credit is a more flexible form of credit than a traditional business loan because it gives you a set amount of money that you can draw from only when you need it.

Business credit cards

For newer business owners, a business credit card may be a better option than a loan because they require less credit history. In general, you can find a credit card with a 0% intro APR, which works out to an interest-free loan if you pay off your balance before the introductory period ends and the variable APR kicks in.

Finance for equipment

Equipment financing may be your best option if your business requires expensive equipment. A lender typically lends money specifically for the purchase of equipment in this type of financing. The equipment is then used as collateral for the loan.

Startup financing

A new business owner should consider SBA microloans or a business grant as options for startup financing. Crowdfunding has also become a popular method of obtaining quick startup capital.

When you get your funding, start accruing expenses, or start earning money, you should take steps to keep your business and personal finances separate. Then look for an accounting software program to help you manage your company’s finances.

Looking to Build Credit for Your Candle Making Business?

Build your business credit quickly with an easy approval net 30 account from Wise Business Plans. Or check out the top 10 net 30 vendors to find the best one for you to help build your business credit .

How to Write a Candle Making Business Plan

To write a candle business plan, you don’t need to be an expert. Our step-by-step guide will show you how to write a candle making business plan, or you can just download our proven sample business plan pdf  to get a better idea.

Candle Business Plan PDF and Word

Download our candle making business plan in PDF and Word here.

Executive Summary

The executive summary is the most important part of the document since it outlines the whole business plan. Despite the fact that it appears first in the plan, write the executive summary last so you may condense key concepts from the other nine parts.

It’s a part that catches the investor’s eye and provides key information about your company’s overview and upcoming short- and long-term goals.

Tell them what kind of candle making business you have and what stage you’re in; for example, are you a startup, do you have a candle making business that you want to expand, or do you have a lot of candle making businesses?

Finally, an executive summary should provide investors with a preview of what they may expect from the rest of your document.

• Provide a high-level overview of the candle making industry
• The name, location, and mission of your candle making company
• A description of your candle making business, including management, advisors, and a brief history
• Discuss the type of candle making business you are operating, Give an overview of your target customers, and how your company differs from competitors in the industry
• Create a marketing plan that describes your company’s marketing strategies, sales, and partnership plans.
• And give an overview of your financial plan

Check out these executive summary examples to help you write a perfect one for your candle making business plan.

Free: Executive Summary Examples

An executive summary is the most important part of your business plan, and it need not be challenging to write. This is why we have put together some awesome free Executive Summary examples for you.

Company Analysis

The company analysis follows the executive summary as the second section of a candle business plan. Your company overview will be short and clear, similar to the executive summary.

Even if they just have a few minutes, your reader has to understand what your company does and who your customers are.

The following sections will be included in your business plan’s Company Analysis:

• Company summary: Your company analysis will describe the type of candle making business you are running and its future goals.  The type of candle making business you might be focused on (Scented candles, Decorative Candles, Pillar candles, Dinner candles, Votive candles, Tea lights and Specialty Wax Candles, etc)
• Company history: When and why did you start your candle making business?
• What milestones have you achieved so far? Your milestones could include served 100th customer, new fleet purchase, etc.
• Legal structure and ownership: Do you have S-Corp status? Is it an LLC ? A sole proprietorship ? Describe your legal structure.
• Mission statement: An overview of your candle making company’s guiding principles. Learn how to write a perfect mission statement .

Industry Analysis

The candle making business plan’s research section will most likely be the most time-consuming. Here, you will elaborate on how you will fit into the existing candle making market. Since your research findings should serve as a sound confirmation of the conclusions you have outlined thus far, they will demonstrate your understanding of the industry and market.

Industry analysis can be presented as a 8-step process when written as part of a company’s business plan.

• Give a quick overview of the candle making industry. Define the candle making business in terms of size (in dollars), historical background, service region, and products.
• Examine previous trends and growth patterns in the candle making industry.
• Identify the market’s major competitors.
• Age, gender, and general lifestyle of the targeted market
• Determine the factors that have an impact on the candle making industry. These might include government regulatory rules and other businesses’ competitive activities.
• Using research data, the industry forecast expected growth over the next five to ten years. Predictions should be made for both the long and short term.
• Describe how your candle making business intends to position itself in the industry. Concentrate on how your candle business can benefit from opportunities highlighted in the industry.

Customer Analysis

The customer analysis section is an important part of any candle business plan since it evaluates the consumer segments that your company serves. It identifies target customers, determines what those customers want, and then explains how the your candle products will meet those requirements.

Customers can be categorized into the following segments:

• Spa beauty salons
• Religious houses

Departmental Stores, Wholesalers, Churches, Spa Beauty Salons, Home Furnishing Stores, Religious groups, hotels and restaurants, families, couples, party planners, homeowners, etc.

Customer analysis may be divided into two parts: Psycho-social profiles  and D emographic profiles

With regards to demographics, include information about: When moving residential, the ages, genders, locations, and income levels of your customers. When targeting businesses, describe what kind of business, size, and location your target customers are.

The psychological profiles of your target clients reveal their wants and needs. The better you understand and identify these demands, the better your chances of attracting and retaining customers will be.

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Competitor Analysis

It is necessary to do a competitor analysis. Because you may use their data to define your goals, marketing plans, tactics, new product lines, pricing, and more. Use competitor analysis to:

• Identify the strength and weakness of your candle making business competitors.
• Search for opportunities to distinguish your candle making business from competitors.

The first step is to determine who your direct and indirect competitors are.

The direct competitor consists of other candle making businesses that offer essentially the same candle products to the same people as you do.

Your indirect competitors are other options that customers have to purchase from you that aren’t direct competitors.

Among indirect competitors are big-box stores, craft stores, home decor stores, and general stores etc. You should also mention the competitors.

Once you’ve identified the competitors, concentrate on the direct, head-to-head competitors, since they are the most threatening to your candle making business— but keep an eye on the indirect competitors as well, just in case.

Provide an overview of each direct competitor’s business and detail their strengths and weaknesses.

You will be able to position yourself competitively in the market if you perform proper competitors research. Perform a SWOT Analysis to learn your competitors’ strengths, weaknesses, and competitive advantages in the following areas:

• Prices – Are they offer cheaper candle products or more costly than you and other competitors, what value do buyers get for that price?
• Quality – Are they offer premium candle products, the perceived worth in the eyes of the customers
• Customer service – How they respond to their consumers, whether they treat them poorly or well, and the degrees of satisfaction customers show
• Reputation — The sum of everything mentioned above: their credibility, how loved the brand is, and the loyalty of their customers

The final section of your competitive analysis should include a list of your areas of competitive advantage. for example: Are you going to offer premium candle products? Will you have unique or specialty products? Will you offer better pricing or will you offer greater customer support?

Consider how you will outperform your competitors and include them in this portion of your candle making business plan.

Free: SWOT Analysis Examples

Take advantage of our free SWOT analysis examples. Make your business future-proof by identifying your strengths, weaknesses, opportunities, and threats using this free SWOT Analysis Template.

Marketing Plan

Creating a marketing plan for a candle making business involves identifying the target demographic and finding candle products that suit their preferences.

As part of your marketing plan for a candle making business, you should include:

Pricing and Product Strategy

Your candle making business must offer stylish and unique candle  products that are different from those of your competitors. Research what your competitors offer and how they price their candle products. Unique candle products identifies your candle making business as the place to go for unique candle products and differentiates it from others.

Placing and Promotions

This refers to the location of your candle-making business. Explain how the location will impact your success. Is your candle business located in a busy retail district, shopping mall, shopping center, etc? Discuss how your location may be perfect for your customers.

Promoting your candle making business is the final part of your marketing plan. In this step, you document how you will drive customers to purchase your candles. A few marketing methods you could consider are:

•  Introduce candle-making business to religious houses, spas, and other businesses
• Advertise your candle-making business in relevant magazines, local newspapers, radio, and television stations.
• Make sure your business is listed in local and online directories
• Utilize your website and social media platforms to promote our products and services
• Direct marketing
• Encourage loyal customers to help us by making referrals
• Distributing business cards and handbills
• Creating a billboard and placing it in a strategic location.

Are they more durable than others? Smell better? Are they made with more environmentally friendly materials? Determine your main selling point and the best way to communicate it to potential customers.

Pro Tips: Learn how to write a marketing plan in business plan to create a winning candle making business plan.

Operations Plan

While the previous sections described your goals, your operational plan in a business plan discusses how you will achieve them.

An operations plan is helpful for investors, but it’s also helpful for you and employees because it pushes you to think about tactics and deadlines.

Your operations plan should be divided into two individual parts, as seen below.

All of the tasks involved in running your candle business, such as tracking inventory, marketing your business, researching new scent combinations or designing new novelty options, pouring candles for inventory, and preparing for upcoming orders, are included in daily short-term processes .

Long-term goals are milestones you hope to reach. they might be growing your business, such as introducing new items or retail outlets, meeting particular sales milestones, and meeting other essential business-oriented goals like recruiting more staff, opening additional locations, and so on.

Management Team

The management team section in a business plan ‘ outlines your management team, staff, resources, and how your business ownership is structured.

This part may be easily organized by dividing it into the following points:

Ownership Structure

Internal Management Team

External Management Resources

Human Resources

This section outlines your candle making business’s legal structure. If your company is a sole proprietorship , it may simply be one phrase. It might be longer if your company is a partnership or a corporation . You should make it a point to clarify who owns what part of the business.

This section should not only outline who is on your management team but also how each person’s skill set and experiences will contribute to the growth of your candle making business. Ideally, you and/or your team members have direct expertise in the candle making business. If this is the case, highlight your experience and skills.

Think of these external management resources as your internal management team’s backup. Consider forming an advisory board if your team is lacking expertise and experience with candle making business.

An advisory board would consist of 3 to 7 people who would serve as mentors to your candle making company. They would assist in answering queries and providing strategic direction.

If necessary, search for advisory board members with expertise running candle making business.

Describe all of your company’s external professional advisers, such as accountants, bankers, attorneys, IT experts, business consultants, and/or business coaches. 

The final topic to consider in the management area of your candle making business plan is your human resource needs.

Financial Plan

As part of your financial plan, you should present a 5-year financial statement broken down monthly or quarterly for the first year, and then annually. Financial statements include your income statement, balance sheet, and cash flow statement.

Income Statement

A profit and loss statement is more commonly called an income statement. It shows your revenue and subtracts your expenses to determine whether you were profitable or not.

As you develop your income statement, you need to develop assumptions. For example, will you serve 20 clients per day or 50? Will sales increase by 3% or 15% per year? As you can imagine, your assumptions have a significant impact on your financial forecast. Do your best to verify your assumptions by conducting research.

Free: Income Statement Template

Create a financial statement for your business by downloading our free income statement templates.

Balance Sheet

While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities.

The balance sheet shows your candle making business’s net value at a specific point in time. It categorizes all of your company’s financial data into three categories:

• Assets: Tangible goods with the monetary worth that the company owns.
• Liabilities: Debt owing to a company’s creditor.
• Equity: The net difference when the total liabilities are subtracted from the total assets.

The equation that expresses the relationship between these financial data elements is Assets = Liabilities + Equity.

Create a pro forma balance sheet for your candle making business plan that highlights the information in the income statement and cash flow projections. A balance sheet is normally prepared once a year by a company.

Balance sheets indicate your assets and liabilities, and while they contain a lot of information, they are simplified to highlight the most important things you need to know.

For example, spending $500,000 to build out your candle making business will not result in instant revenues. Rather, it is an asset that should help you earn money for many years to come.

Similarly, if a bank sends you a check for $200,000, you do not have to pay it back right now. Rather, that is a liability that you will repay over time.

Cash Flow Statement:

Your cash flow statement will help you determine how much money you need to start or grow your candle making business. In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a candle making business:

• Fees for registering a candle making business
•  Acquisition of POS machines and candle-making equipment
• Expenses for marketing promotion for at least six months
• Operating expenses for the first six months (employee salaries, bills)
• Taxes and licenses costs
• Business insurance
• Payroll or salaries paid to staff
• Facility rent and security deposits
• Construction / remodeling
• Start-up inventory cost (wax, wicks, fragrances, packaging materials)

Read Later: How to create a financial plan in a business plan .

Free: Balance Sheet Template

Create a financial statement for your business by downloading our free balance sheet templates.

List any additional material you cannot include elsewhere, such as resumes from key employees, licenses, equipment leases, permits, patents, receipts, bank statements, contracts, and personal and business credit histories.

Attach your full financial projections along with any supporting documents that make your plan more compelling in the appendix.

Pro Tip: Find out what to include in a business plan appendix when writing a candle making business plan.  

Summary of the Candle Making Business Plan

A candle business plan is a worthwhile investment. As long as you follow the template above, you will become an expert in no time. By following the template, you will understand the candle making business, your competition, and your customers. The plan will help you understand the steps necessary to launch and grow your candle making business.

Do you want to Finish Your Candle Making Business Plan in less the one day?

Wouldn’t it be nice if your business plan could be completed faster and easier?

With wise business plans Business Plan Template , you can finish your candle making business plan in just 6 hours or less with a 30-Day Money-Back Guarantee!

Also, you can download our 300+ free business plan templates covering a wide range of industries.

OR, we can create your candle making business plan for you

Since 2010, Wise business plans’ MBA professional business plan writers has developed business plans for thousands of companies that have experienced tremendous success.

Download Our Candle Making Business Plan Template

We will show you some real-world business plan examples so you may know how to write your own, especially if you are seeking a bank loan or an outside investment and need to use SBA-approved formatting.

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How to write a candle Making Business Plan outline

Planning ahead for any major life decision or project is always advisable, and that doesn’t change when you’re considering starting your own business. By creating a business plan that addresses all the decisions you have to make for your candle making business, you can follow it step-by-step towards success—and you just have to answer some questions before you do so.

Table of Contents

How to Write a Candle Making Business Plan:

• Describe your business structure. 
• Make legal decisions, including how you’re going to insure your business. 
• Create your staffing and management structure. 
• Create a budget—short term to get started, and long term to thrive. 
• Outline where and how you will do your business, regardless of whether you are at home or in your own store. 
• Create a marketing strategy.
• Write out your mission statement and goals. 

Following an outline for your business plan is easy—all you have to do is answer the questions and write it out in the best, most detailed way you know how. The more information that you include in your business plan and the more questions you answer now means less questions to answer down the road—when timing can be of the essence. Read more to find out how to create your business plan. 

Describe your business structure

How you’re going to run your business is one of your very first steps. While this may be vague upon first glance, there are many decisions you need to make to the back end of your business before you consider moving to the next step. This is the base of your business, and all decisions should come back to this section of your business plan.

What needs to be included in this section?:

• Your business name. While you may want to wait until you’re finished with the rest of your business plan before you make this decision, it’s important to include it at the start of your business plan. You have several options in registering your business name, including registering under a “doing business as” or alias. Note that if you register under your own name, you may have to register differently. You also need to pick a name that is unique that you can register with the government for tax purposes.
• Type of business. Because there are so many options regarding taxes and liability, you need to decide on whether you’re going to “do business as”, go into a partnership, or create a limited liability company. In most cases, limited liability is your best and safest option, but discuss this with your attorney before deciding. 
• A general business description. What do you want to do or sell? Outline it here. 

Make legal decisions, including how you’re going to insure your business

Always consult with a legal professional before making any decisions in your business. That being said, you need to determine to what extent you need legal advice. Starting out your business on Etsy does not require any insurance, but it will always be helpful and reduce your liability if you are covered. 

What needs to be included in this section?

• Your insurance information. Outline how you are going to make sure your business is insured, and, if applicable, your policy information. 
• Your business license information. In most cases, you will need certain licenses and permits to create your business. Outline what your local government requires here. 

Create your staffing and management structure

Whether you’re opening your shop by yourself or with someone else, always create the information needed in this section of the plan. It doesn’t matter if you don’t feel like you will ever hire someone else to help you—the moment you make that determination is the moment you need the information. While it could be simple speculation, set aside some time to determine what would happen if you were to hire on another individual for your business. 

• All the major decision makers. If it’s not just you, who else can make decisions about the business? What can they decide? What are their responsibilities? Make this very clear in your business plan. 
• Management hierarchy. If you have multiple owners or employees, who do they answer to? 
• Employee benefits. What benefits will you offer to your employees?

Create a budget—short term to get started, and long term to thrive

Arguably the most important part of your business plan, you need to outline and itemize each of your expenses, whether in the short term or the long term. 

• Month by month operational costs. Outline exactly how much money you can spend each month on inventory, your online or physical shop, marketing, insurance, and your personal salary. 
• Determine how much you need to break even. 
• Determine how much profit you would need to make expansions. Also, you can outline any expansion ideas for the future. 
• Determine your cost per candle. This will help you set your prices. 
• Determine how you will raise your funds. If you need capital to create your business, outline how you’re going to do it here, whether it’s through your own funding, grant money, business loans, or friends and family. 
• Create a sales projection. Using the financial knowledge you have, estimate how much you would need to grow within the first five years of being open. 

Main Raw Materials For Making Candles

Outline where and how you will do your business, regardless of whether you are at home or in your own store.

It doesn’t matter whether you’re selling out of your home or a storefront—decide where you intend to sell, and describe it here. 

• Where you intend to sell. If it’s online, explain what website or platform you’re using. If it’s a physical place, explain what you want in a storefront. 
• The products you intend to sell. What kind of candles are you going to make? How are you going to make them? What supplies do you intend to use? What makes your candles different? Your business plan is a living document, so feel free to edit this section as you plan. 

Create a marketing strategy

When putting together your budget, you touched on marketing. So, what do you need to consider and place in your business plan?

• Find your target demographic. You can tailor your marketing to your demographic by doing a bit of research. Knowing where your customers are online can help you to decide which social media pages to focus on. 
• Analyze the market. Know the product your selling and the trends in the current market. 
• Social media pages. What social media platforms are you going to use for marketing your inventory? How are you going to link them to your website, or drive people to your physical store?
• A post schedule. You should always consider how often you’re posting and how often your target demographic is looking at those posts. Create a schedule and be consistent with the content you create. 
• Create a cohesive brand. What does your logo look like?  What about the colors you use, or the fonts you use? Make sure to stay cohesive within your brand and use the same elements throughout all your marketing for a professional look and to create brand recognition.

Write out your mission statement and goals

Knowing the reasons why you’re starting your business and including it in your business plan is key to your success. There will be ups and downs as you create your business, and knowing why you’re doing it in the first place can help you keep your determination and focus in the right direction. 

• An executive summary. This should be included at the beginning of your plan, but writing it at the end is easiest. Summarize your entire business plan in this section.
• A mission or vision statement. Describe your goals and why you want to start the business. 

Stay true to the reason you wanted to start your business in the first place, and refer back to it often. Only you can determine your success in your business, and planning ahead will be the best way to get you there. 

10 Candle Business Tips and Tricks

Frequently asked questions, how much money do i need to start an at home candle making business.

Creating your candles at home will require you to invest in a point-of-sale system, a way to showcase your candles online (whether on social media, a website like Etsy, or your own personal website), marketing, and inventory. This should cost around $1,500 to start. 

Is it safe for me to make candles out of my home?

Yes, you can make candles in your home safely. Make sure you prepare your space and keep surfaces clean by placing down newspaper or wax paper, always monitor the heat of your wax, and use the proper equipment. If you want to purchase extra insurance for your business, you can also do that and it is greatly encouraged.

Looking to start your own candle making business, check out my startup documents here

Please note that the contents of this blog are for informational and entertainment purposes only and should not be construed as legal advice. Any action taken based on the information provided in this blog is solely at your own risk. Additionally, all images used in this blog are generated under the CC0 license of Creative Commons , which means they are free to use for any purpose without attribution.

Meet Shawn Chun: Entrepreneur and Candle Business Fan.

I’m a happy individual who happens to be an entrepreneur. I have owned several types of businesses in my life from a coffee shop to an import and export business to an online review business plus a few more and now I create online candle business resources for those interested in starting new ventures. It’s demanding work but I love it. I do it for those passionate about their business and their goals. That’s why when I meet a candle business owner at a craft fair, farmers market, retail location or anywhere else I see myself. I know how hard the struggle is to obtain and retain clients, finding good employees all while trying to stay competitive. That’s why I created Candle Business Boss: I want to help candle business owners like you build a thriving business that brings you endless joy and supports your ideal lifestyle.

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Candle Making Business Plan Template

Published Aug.29, 2018

Updated Apr.22, 2024

By: Noor Muhammad

Average rating 4.3 / 5. Vote count: 15

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Table of Content

Do you want to start candle making business?

Are you planning to start candle business ? What many people do not know is candles still remain popular even today despite the fact they were primarily introduced for illumination purposes. Candles have been there for centuries and used in different civilizations and cultures. Even with the introduction of electricity, the role of candles has been redefined and they still continue to be an important item in any home or business. In the U.S. 7 out of 10 households use candles meaning the market is still excellent. Uniquely branded candles are the most popular home décor items which are on very high demand. Fortunately, candle making is not a capital intensive business and with a good business plan, you can be successful.

Executive Summary

2.1 the business.

The candle-making businesses will be registered under the name Wax Glow Candle and will be situated in Houston, Texas. The business will be owned by Susan Cook who is an experienced chandler. This business plan outlines how to start a candle business step by step to help anyone interested in venturing into candle making.

2.2 Management Team

Prior to starting candle business , Susan Cook worked as a professional Chandler and boasts of 20 years’ experience in the candle-making industry. She is extensively knowledgeable having worked for large and reputable organizations in the course of her career.

2.3 Customer Focus

Susan has worked in the candle and scent industry for long and therefore, has an in-depth understanding of customer patterns and segments. Given her long career in the business, she is aware of the changing customer trends and which market segments are in need of unique candle brands. She’s also aware that customers are primarily looking for uniquely branded homemade candles.

2.4 Business Target

Susan Cook knows where she needs to concentrate her efforts in order to maximize the revenue for her candle making businesses . Her intention is to proactively reach out to all segments in need of unique candle products. Her target is to be the best and most reputable candle making business in Houston as she knows she has knowledge her competitors might not be having.

Company Summary

3.1 company owners.

Susan Cook is an experienced chandler with extensive skills and experience in candle making. Before thinking of starting a candle company , she worked for big brands across the United States such as Proctor & Gamble as well as SC Johnson & Sons among others. She took a major role in making key decisions for the various departments she worked for quickly rising to top managerial level because of her commitment and professional skills. After working for twenty years, she decided it was time to venture into entrepreneurship.

3.2 Aim of Starting the Business

Even though candles have been there for centuries, they are still relevant to date meaning there is still rising demand from both households as well as businesses. Having been in the business with a clear understanding of how candles continue immensely influence the modern society, Susan Cook began to plan how to start a candle company that would effectively address the needs of today’s society.

3.3 How the Business will be Started

Wax Glow Candle will begin operations after a comprehensive market research has been completed by the relevant experts. In order to be successful, Susan knows her knowledge and experience will be a great asset that will be instrumental in making strategic decisions that will spur business growth. She has also worked closely with a team of financial experts to formulate a detailed financial analysis for the business.

Services for Customers

Wax Glow Candle plans to offer a wide variety of products and service in order to increase its competitiveness and get a larger market share. Susan knows the secret to start a candle business and have it succeed is to embrace creativity and offer clients a unique range of products. Given her experience and studying market trends, Wax Glow Candle is in a perfect position to capitalize on its strengths to achieve its business goals and increase revenue. The following products will be offered by Wax Glow Candle.

• Signature Scented candles with various fragrances such as strawberry, vanilla, cinnamon and mulberry among others
• Candle holders which come in a beautiful and vast array of types and designs
• Luminaries that are available in different sizes and colors
• Various types of Melting oils

Marketing Analysis of Candle Making Business

Despite candles being around for numerous centuries, they still play a vital role in today’s society. Aside from illumination, the era of scented candles and fragrances has ushered in a new perspective and the market it constantly looking for unique and creatively made candles for use in homes, businesses and special occasions. In this business plan for candle making , Wax Glow Candle has done an extensive market analysis and identified untapped opportunities to harness in order to grow business revenue.

5.1 Market Segment

For Wax Glow Candle to realize its dreams, the candle making businesses has identified the appropriate customer markets to advertise its products and services. Any candle making business plan sample should clearly outline who potential customers are and how the business intends to establish connections.

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5.1.1. Households

Houston is a large city with over a million households which is a key market for Wax Glow Candle. The first customers for candles are households and residential establishments who use them for various purposes. Even though candles in the home are rarely used for illumination, many homes still buy candles for various purposes such as decoration. Scented candles have become a leading product for households and Wax Glow Candle has an opportunity to put in place creative marketing strategies to reach a wide population segment. When starting your own candle business , the domestic market is a key segment that cannot be ignored considering most of the products from Wax Glow Candle are tailored for domestic use.

5.1.2 Gift Shops

Nowadays, many people consider unique candles as an awesome gift item which can be presented on various occasions. In most gift shops, you will find various types of unique candles and associated accessories which are sold primarily as gift items. Houston has a large number of gift shops and it’s important for Wax Glow Candle to find ways of forming partnerships with local gift shops with an aim of stocking their products in gift shops. Because they have direct access customers, gift shops can be of great benefit and help the candle making businesses to reach its revenue targets.

Business plan for investors

5.1.3 hotels and restaurants.

The hospitality industry is a key use of candles which are placed in various sections of hotels and restaurants. Exclusive restaurants and hotels love using candles on their dining tables and bathrooms to create a relaxing and elegant environment. Hospitality based businesses are always in need of good quality and unique candles to be utilized for various purposes.

5.1.4 Beauty and Massage Parlors

Candles are a common feature in massage and beauty parlors who invest heavily in various kinds of candles in their establishments. Houston and its surrounding has many massage parlors which are great customer prospects for Wax Glow Candle. With the right strategies put in place, candle making businesses profitable ventures include approaching business that require different types of candle related products.

5.2 Business Target

Wax Glow Candle plans to establish itself in Houston which is a major American city with plenty of opportunities that can be explored. Wax Glow Candle hopes to realize an annual sales growth of between 25%-30% in the first three years of operation.

5.3 Product Pricing

How to start a candle making business requires an extensive market research in order to find out pricing structures of competitors. This is done with an aim of coming up with a creative pricing strategy that will attract customers.

Wax Glow Candle intends to come up with an effective marketing strategy to enable the candle making business reach out to all its intended customer targets. If you want to start a candle making businesses , there must be a good plan in place that will help you reach out to as many prospective clients as possible.

6.1 Competitive Analysis

Wax Glow Candle has carried out an extensive market research in order to identify the most effective marketing strategies that will see the business expand its market share, compete effectively and realize its revenue targets.

6.2 Sales Strategy

For Wax Glow Candle to effectively reach out to the market, this business plan for candle making  to implement the strategies below to advertise its range of products.

• Send introductory letters to businesses and stakeholders to create awareness about the candle making businesses
• Organize an opening party and invite guests from target markets to advertise the business. During the opening, offer visitors free samples of products to allow them have a feel of the quality
• Attend exhibitions and trade shows which are awesome platforms for advertising the candle making businesses
• Market the business on social media platforms such as Facebook, Twitter and Instagram. Advertise the business online using Google Ads.
• Advertise Wax Glow Candle on local directory listings
• Create a simple search engine optimized website to boost the online presence of the candle making businesses for purposes of gaining higher online rankings
• Advertise Wax Glow Candle on local broadcast and print channels such as newspapers, TV and radio

6.3 Sales Forecast

How to start a candle business should entail a comprehensive sales forecast that will spell out the roadmap for Wax Glow Candle.

Personnel Plan

If you’re planning on starting a candle making businesses , the first thing to think about is to find a team of qualified staff who will assist in running the business. Susan Cook intends to hire a competent team of staff to work in various departments. A personnel plan has been formulated to come up with the best strategy for business of hiring qualified and experienced staff.

7.1 Personnel Plan

To help the candle making business realize business success, the following team of staff will be employed to work in Wax Glow Candle. Susan Cook who is the owner of the candle making businesses will be the Chief Executive Officer in charge of the entire business. She will be assisted by the following team of staff.

• 1 Assistant Manager
• 2 Sales and Marketing Executives
• 1 Customer Service Executive
• 2 Chandlers
• 1 Accountant

Successful applicants will undergo comprehensive training a few weeks before the business officially opens its doors to the public.

Financial Plan

Wax Glow Candle has come up with a detailed financial plan which is critical for starting a candle business . To ensure candle making business profit is a reality, it is critical to analyze and document various financial parameters before opening a business. Susan Cook intends to raise money for her business using her personal savings. Additionally, she plans to bring on board 2 investors and a bank loan for business plan to finance the budget deficit. candle making businesses  profit margin will be determined depending on how the business will excel.

Below is a comprehensive financial analysis for Wax Glow Candle.

8.1 Important Assumptions

The financial forecast for Wax Glow Candle is based on the assumptions below.

8.2 Brake-even Analysis

Wax Glow Candle brake-even analysis is shown in the graph below.

8.3 Projected Profit and Loss

8.3.1 monthly profit, 8.3.2 yearly profit, 8.3.3 monthly gross margin, 8.3.4 yearly gross margin, 8.4 projected cash flow.

Below is a summary of Wax Glow Candle Pro forma cash flow, subtotal cash received, subtotal cash spent, subtotal cash from operations and subtotal cash spent on operations.

Download Candle Making Business Plan Sample in pdf

OGScapital writer specializes business plan themes such as comprehensive business plan for biodiesel , skateboard shop business plan , production and supply chain business plan , production business plan , metal casting business plan , starting a jewelry business , etc.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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How to Write a Fashion Business Plan in 10 Easy Steps

• Published: May 28, 2023
• By: Yellowbrick

Have you ever dreamed of making a splash in the world of fashion? Do you possess the creative flair and keen business sense needed to dress the world in your unique vision? If you’re nodding your head, it’s time to strut your stuff and create a fashion business plan  that’ll make investors sit up and take notice.

Fear not, we’re here to help with this 10-step guide that will assist you in crafting a blueprint tailor-made for success . So grab a cup of coffee, and let’s dive in together, preparing you to take the fashion industry by storm!

Find Your Fashion Niche

First things first,  what’s your style , darling ? Are you all about haute couture or do you fancy yourself as the next streetwear sensation? Identifying your niche is crucial to setting the foundation of your business plan. Ask yourself: who’s your target audience? What makes your brand unique? Answering these questions will help you carve out your place in the fashion world.

Executive Summary: Give ‘Em the Runway Rundown

Think of your executive summary as the teaser trailer for your business plan. It should be concise , snappy , and give your readers a taste of what’s to come . Summarize your company’s mission, its unique selling points, and your strategy for growth. Remember, first impressions count, so make it fabulous!

Company Description: Flaunt Your Brand’s Personality

Here’s where you  spill the beans about your company . What’s the story behind your brand? How will it make a difference in the fashion industry? Describe your company’s history, structure, and culture. Don’t forget to mention any milestones or achievements that make you stand out from the crowd.

Market Analysis: Study Your Style Scene

You’ll need to  do some legwork to get the lowdown on your target market . Analyze trends, competitors, and your audience’s buying habits. Who are the big players in your niche? What are the gaps in the market? Uncover the secrets to your competitors’ success and learn how to make your brand shine even brighter.

Product Line: Show Off Your Fashion Forwardness

Here’s your chance to strut your stuff and flaunt your designs . Detail your product line, including sketches, materials, and price points. How will your collection evolve over time? What’s your plan for future collections? Give readers a sneak peek into your fashion-forward world and leave them wanting more.

Marketing and Sales Strategy: Work That Catwalk!

Now that you’ve got your fabulous designs, how do you plan to spread the word ? Outline your marketing strategy, touching on advertising, social media, influencers, and PR. Describe your sales channels and how you’ll reach your target audience. Remember, in the fashion world, you’ve got to work to make it!

Operational Plan: Behind the Seams

In this section, delve into the nitty-gritty of your day-to-day operations . Discuss your production process, suppliers, and inventory management. How will you ensure quality control? What’s your plan for scaling up as your business grows? Give readers a behind-the-scenes look at the nuts and bolts of your fashion empire.

Management and Organization: Assemble Your Style Squad

No one can run a fashion empire alone.  Introduce your readers to your team , highlighting their experience and expertise . How will your organizational structure support your business’s growth? Be sure to discuss any advisors or mentors who’ll help guide you on your journey to the top.

Financial Projections: Crunching the Couture Numbers

Fashion may be all about glamor and glitz, but at the end of the day, it’s still a business. In this section, lay out your financial projections ,  including revenue , expenses , and profit . Create a comprehensive budget and cash flow statement to demonstrate your financial savvy. Don’t forget to address any potential risks and how you’ll mitigate them. After all, a solid financial plan is your ticket to fashion stardom.

Appendices: The Cherry on Top

Wrap up your fashion business plan with any additional information or documentation that supports your case. This might include market research data, design patents, or even letters of intent from potential buyers. Think of the appendices as the finishing touches to your plan – the cherry on top that ties everything together.

A Runway-Ready Business Plan

And there you have it – a 10-step guide to crafting a fashion business plan that’s equal parts style and substance. With your runway-worthy blueprint in hand, you’re now ready to take the fashion world by storm . So go on, dazzle investors, and watch your designs light up the catwalks. After all, the sky’s the limit when you’ve got a plan that’s dressed to impress!

But wait, before you dive headfirst into the world of fashion business, remember that it’s essential to keep learning and expanding your knowledge . To help you achieve even greater success, consider enrolling in the Fashion Industry Essentials Course  offered by Yellowbrick.

Taught by esteemed faculty from the prestigious Parsons School of Fashion  and leading industry insiders, this course covers essential aspects of the business side of fashion, including:

• Visual style
• Portfolio design
• Fashion production
• Marketing & PR

Featuring five enthralling online modules and a range of skill-building activities, you can progress at your own pace, tailoring the learning experience to suit your needs. Each module typically takes between 3 to 5 hours to complete.

And the cherry on top? You’ll have the extraordinary opportunity to learn from industry powerhouses  like Elaine Welteroth, Brandon Maxwell, and Rebecca Minkoff. Upon completing the course, you’ll be awarded a  non-credit certificate of completion from Parsons , showcasing your commitment to the fashion industry.

So, are you ready to strut your stuff? Don’t hesitate! Begin crafting your fashion business plan and enroll in the Fashion Industry Essentials Course  today to stay ahead of the curve. Empower yourself with the knowledge and skills to make your mark on the fashion world!

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Learn one of the key building blocks for starting a business – how to write a business plan

June 20 & 27 2024 | deadline to apply is 5 p.m. est, june 10, 2024.

Have you started writing a business plan but got stuck? Have you been told you need a business plan to start your business or obtain capital? Here is your chance to get that business plan created – the right way!

Michigan Women Forward has partnered with the Michigan Small Business Development Center (SBDC) to present How to Write a Business Plan, a two-part business program for Detroit-area entrepreneurs and small business owners. Learn the essential ingredients of a business plan, including …

• Writing a company description, including your mission, vision and values
• Describing your product or services
• Performing market research to reveal the potential for your business and potential pitfalls
• Creating a competitive analysis of your target market
• Outlining your marketing tactics
• Creating a timeline of business goals and success metrics

Program Dates / Time / Location

• Program dates/time: 9:30 a.m.-Noon on Thursday, June 20 & 27, 2024. Program curriculum builds from the first session to the second, so attendance at both sessions is required.
• Location: The District Detroit Opportunity Center, Detroit

Hurry! Space is limited to 30 participants!

Questions? Contact Tanesia Greer, Business Development Manager, at  [email protected]  or 313-962-1920, ext. 204.

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How to Create a Restaurant Business Plan: 10 Key Steps Explained

• Why restaurant business plan is essential?
• What should be included in an effective restaurant business plan?

A restaurant business plan is a draft that shows a detailed map of your restaurant, such as its interior design, the kind of restaurant chair to be placed, the design of the table centerpiece and how everything will come together and work. It will cover everything from staffing to finances and things needed to run your restaurant.

A business plan is a vital road map for restaurant owners, stakeholders, investors, and leaders. It offers a structured path to turn their vision into reality while ensuring every crucial detail is noticed during the business’s growth. Plus, it’s super essential for getting investors on board. So, your business plan lays it all out for them—how you’ll spend money, handle any problems, and ultimately make your restaurant thrive.

How to Write a Restaurant Business Plan? 10 Steps Explained

1. executive summary.

Executive Summary is like the trailer for your restaurant business. It is the part where you give a sneak peek into your restaurant’s mission statement, vision, concept, game plan for success, and the costs involved. This part of your plan should make the investors curious and excited to learn more.

2. Concept Definition

a draft that shows a detailed map of your restaurant, such as its interior design , the kind of restaurant chair to be placed, the design of the table centerpiece, and how everything will come together and work. It’s about defining what makes the restaurant unique and appealing.

3. Location Analysis

In this part of the restaurant business plan, you must provide detailed information about where you plan to open your restaurant. Have specifics about the size, layout, and overall design. Also include details about the locality, parking availability, and other relevant information needed, such as accessibility to the restaurant. This part is to visualize exactly what your restaurant will be like.

4. Marketing Tactics

Marketing tactics are essential in restaurant business planning as they will help to bring the guests. This part explains your road map for promoting your restaurant, your target market, and the tactics you will rely on before and after your restaurant is functional.

5. Team Structure

In this section of your business plan for the restaurant, you will describe the group of people you will gather to ensure your restaurant runs well. It will include all the details of the people you need to run a restaurant smoothly, from chefs to dishwashers. Also, this will have the requirements you are looking for in your staff.

6. Menu Crafting

This section of your business plan for the restaurant includes the details of the cuisine you plan to serve. It will also highlight the dishes you offer, their pricing, and how they will fit your overall goals and model. It will give investors an idea of the price range and your profit plan.

7. Design Concept & Furniture Selection

Integrating Design Concepts & Furniture Selection in restaurant business planning is essential as it provides a vision of the restaurant’s atmosphere, helping investors understand its direction. Unique concepts and furniture like restaurant chairs and tables differentiate the restaurant, enhancing the guest experience while ensuring cost management.

8. Financial Analysis with First-Year Projections

It is the end of a business plan; investors want to know how their capital will be utilized in the first year. It overviews your financial strategy, showing how you will manage costs and generate income to ensure profitability.

9. Risk Strategy

Risk strategy is crucial in identifying and analyzing potential challenges affecting the restaurant’s success. This section will discuss the plan for risks like market competition, financial issues, and compliance issues. By proactively addressing these risks, restaurateurs can proliferate.

10. Tech Integration

Tech integration is vital in a restaurant business plan for several reasons:

• Efficient Operations.
• Cost savings
• Adaptability to trend

Overall, tech integration in the restaurant business plan is essential for delivering exceptional guest experiences, optimizing operations, staying competitive, and driving profitability in today’s digital age.

Conclusion:

The key to a successful restaurant is a well-executed restaurant business plan. Each section of the plan, from the executive Summary to tech integration, plays an important role in setting up the restaurant. You can run a restaurant profitably by outlining your business goals, strategies, and financial and marketing tactics. Plus, by paying attention to design and considering essential aspects like furniture supply from Gotable, you set your restaurant on a path toward success. There’s no guaranteed success plan, but sticking to a well-thought plan increases the chances of thriving. If you are starting your restaurant business, develop a detailed business plan tailored to your goals. This road map will take you towards achieving success.

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The Body Shop’s administrators are to launch an auction of the chain after concluding that an alternative restructuring of one of Britain’s best-known high street retailers was not viable.

Sky News has learnt that FRP Advisory, which has been overseeing the collapsed business since January, is to begin formally sounding out potential buyers in the coming weeks.

The move raises the prospect of new owners taking control of The Body Shop, which was founded nearly half a century ago.

Read more here ...

The UK's mega rich are dwindling - in a sign Britain's "billionaire boom has come to an end", according to the latest Sunday Times Rich List.

Published today, the list reveals the largest fall in billionaires in the guide's history - from a peak of 177 in 2022 to 165 this year.

While the combined wealth of the list's 350 wealthiest individuals amounts to more than £795bn - larger than the GDP of Poland - the guide's compiler says time will tell what impact a drop in billionaires could have.

"This year's Sunday Times Rich List suggests Britain's billionaire boom has come to an end," Robert Watts said.

"Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away."

Top of the list is British-Indian businessman Gopi Hinduja and his family, whose wealth of £37.2bn is the largest fortune in the ranking's history.

But other familiar names in the list saw their riches fall, with Sir Richard Branson's total dropping by £2.4bn, which is back to his 2000 level.

Last year's top climber Sir Jim Ratcliffe, who bought a stake in Manchester United this year, fell two positions with a decline of £6.1bn.

Euan Blair, Tony Blair's eldest son, made the list for the first time, as did Sir Lewis Hamilton.

It comes as the UK continues to deal with a cost-of-living crisis, with new figures this week revealing a record 3.1 million food bank parcels were distributed over the course of a year.

The top 10:

• Gopi Hinduja - £37.2bn
• Sir Leonard Blavtanik - £29.2bn
• David and Simon Reuben and family - £24.9bn
• Sir Jim Ratcliffe - £23.5bn
• Sir James Dyson and family - £20.8bn
• Barnaby and Merlin Swire and family - £17.2bn
• Idan Ofer - £14.9bn
• Lakshmi Mittal and family - £14.9bn
• Guy, George, Alannah and Galen Weston and family - £14.4bn
• John Fredriksen and family - £12.8bn

A group of social media influencers have been charged in relation to promoting an unauthorised investment scheme.

The Only Way Is Essex (TOWIE) original cast member Lauren Goodger, 37, former Love Island star Biggs Chris, 32, and Celebrity Big Brother winner Scott Timlin, 36, also known as Scotty T, are among seven TV personalities alleged to have been paid to promote the scheme to their combined 4.5 million Instagram followers.

The others charged by the Financial Conduct Authority (FCA) include former Love Islanders Rebecca Gormley, 26, Jamie Clayton, 32, and Eva Zapico, 25 and TOWIE member Yazmin Oukhellou, 30.

The UK's financial watchdog brought the charges in a crackdown on "finfluencers" who use their online platforms to offer advice and information on various financial topics.

It alleges that between 19 May 2018 and 13 April 2021 Emmanuel Nwanze, 30, and Holly Thompson, 33, used an Instagram account to provide advice on buying and selling investments known as contracts for difference (CFDs) when they were not authorised to do so.

The watchdog said CFDs were high-risk investments used to bet on the price of an asset, in this case the price of foreign currencies.

It previously warned that 80% of customers lost money when investing in CDFs.

Mr Nwanze has been charged with running the scheme. He faces one count of breaching the general prohibition of the Financial Services and Markets Act 2000, and one count of unauthorised communications of financial promotions.

Ms Thompson, Mr Chris, Mr Clayton, Ms Goodger, Ms Gormley, Ms Oukhellou, Mr Timlin and Ms Zapico each face one count of unauthorised communications of financial promotions.

All nine will appear at Westminster Magistrates Court on 13 June.

The FCA asked anyone who believed they had sustained a loss due to the scheme to contact its consumer contact centre.

A hotel part-owned by Gary Neville and other ex-Manchester United legends has been named one of the best places to work in hospitality. 

Each year, The Caterer releases its top 30 best places for employees in the sector, with the top six featuring some familiar names.

The list is compiled via anonymous employee survey - with no input from managers or owners. 

Hotel Football, the only hotel with a rooftop five-a-side pitch, was among the top six venues selected by employees across the UK. 

The hotel's benefits package was particularly well-praised by those who work there - given that it "prioritises the financial wellbeing of employees during the cost of living challenge".

Management at the hotel, which is situated next to Manchester United's Old Trafford stadium, was also praised for enhanced maternity, paternity, parental and adoption leave policies and a strong belief in diversity and inclusion. 

The other five to make up the top six are The Biltmore in Mayfair, Cycas Hospitality (which has 18 locations across the UK), Dalata (which boasts some 1,000 employees), Gleneagles Hotel in Edinburgh and Nobu Hotel in Shoreditch, London. 

The energy price cap is set to fall by about 7% in July, a leading thinktank has said. 

Cornwall Insights said: "For a typical dual fuel household, we predict the July price cap to be £1,574 per annum" - a drop from £1,690.

Looking further ahead, it forecasted the cap to rise again slightly in October, before falling again in January next year. 

Reacting to the news, Uswitch said the predicted drop was "clearly good news". 

"The future still remains uncertain, and with the price cap changing every three months – currently expected to rise in October before falling slightly in January –  it's crucial not to be complacent," Richard Neudegg, director of regulation, said. 

However, "a predicted 7% drop in energy prices in July is clearly good news, with the price cap looking likely to hit its lowest level in over two years", he said. 

He also urged  households who want to lock in rates for price certainty to run a comparison to see what energy tariffs are available to them.

"There are many 12-month fixed tariffs available at rates cheaper than the current price cap, and even some that are 2% below these new predicted July rates," he said. 

Cristiano Ronaldo has topped Forbes' list of highest-paid athletes for the fourth time in his career.

Ronaldo became the world's highest-paid athlete after his move to Saudi Arabian side Al Nassr and Forbes said the 39-year-old's estimated total earnings were around $260m (£205m) - an all-time high for a football player.

His on-field earnings amounted to $200m (£158m) while off-field he earned $60m (£47m) thanks to sponsorship deals where brands make use of his 629 million Instagram followers.

Spanish golfer Jon Rahm took second place following his switch to Saudi-backed LIV Golf.

Rahm earned $218m (£172m) and joins Ronaldo as the only two athletes to earn over $200m.

Third on the list is record eight-time Ballon d'Or winner Lionel Messi, who switched to Major League Soccer team Inter Miami, which helped the Argentine World Cup winner earn $135m (£107m).

The 36-year-old earned $65m (£51m) in on-field earnings but $70m (£55m) off it from deals with major sponsors such as Adidas and Apple.

Los Angeles Lakers forward LeBron James came in fourth at $128m (£101m), while fellow NBA star Giannis Antetokounmpo of the Milwaukee Bucks made fifth with $111m (£88m).

France football captain Kylian Mbappe dropped down to sixth with $110m (£87m).

French striker Karim Benzema, who also moved to Saudi Arabia, is eighth on the list with $106m (£84m), followed by Golden State Warriors guard Stephen Curry with $102m (£80m).

Lamar Jackson is the only NFL player on the list, in 10th place with $101m (£80m), thanks to the signing bonus negotiated into his new Baltimore Ravens contract last year.

The number of new pupils joining private schools has fallen by  2.7% since last year, according to the latest figures.

Data from the Independent Schools Council (ISC) shows families are now paying more than £18,000 a year on average to send their children to private school.

This is an 8% rise in school fees for the 2023-2024 academic year compared with the year before.

But as fees soar, figures show a 2.7% drop in the number of new pupil applications - this is the biggest fall since the ISC started collecting data in 2011.

Every Friday we get an overview of the mortgage market with independent experts from  Moneyfactscompare.co.uk . Today, finance expert Rachel Springall outlines what's been happening within the buy-to-let market…

A handful of lenders moved to tweak the fixed rates they charge on buy-to-let mortgages over the past week. 

Paragon Bank launched some new "portfolio" and "green" fixed mortgages, and Aldermore pulled its limited edition five-year fixed rates, max 65% loan-to-value. 

Buckinghamshire Building Society also launched new deals onto the market, and Claire Askham, head of mortgage sales said: "The decision to increase our BTL lending to 80% represents a positive move for the sector as we continue to see landlords appraising their portfolios through divesting, refinancing and taking advantage of a variety of property-related opportunities as they arise."

Week on week, there has been minor moves to the overall average fixed buy-to-let rates, with the two-year remaining unchanged at 5.62% and the five-year falling by 0.02% to 5.59%.

This week the lowest two-year fix for buy-to-let customers at 75% loan-to-value comes from Metro Bank, priced at 4.19%, which charges a percentage booking fee of 5.00% of the mortgage advance and is available to second-time buyers and remortgage customers borrowing a maximum of £2m. 

There is another option from the same lender which carries an incentive package just for remortgage customers, but it has a lower maximum advance of £1.5m.

If you are looking to borrow more, then Suffolk Building Society has the lowest two-year fix for buy-to-let customers at 80% loan-to-value priced at 4.79% for second-time buyers and remortgage customers. 

The deal charges a percentage completion fee of 3.00% of the mortgage advance as well as a flat £199 booking fee.

Remortgage customers will receive a free valuation and free legal fees incentive.

A five-year fixed buy-to-let mortgage may be more appealing for you to guarantee your monthly repayments for longer. 

If you looking to borrow at 75% loan-to-value, HSBC has a deal for remortgage customers priced at 4.33%, which carries a free valuation and free legal fees incentive package but charges a flat £3,999 product fee.

If you are looking to borrow more, then Furness Building Society has the lowest five-year fixed buy-to-let deal at 80% loan-to-value priced at 5.39% for second-time buyers and remortgage customers. It charges a booking fee of £995 and includes an £250 cashback incentive. 

Remortgage customers will also receive a free valuation. This deal also happens to be a Best Buy for a five-year fixed deal at 80% loan-to-value.

Best Buy alternatives

The lowest buy-to-let rates may carry both a flat product fee and an arrangement fee which is based on a percentage of the mortgage advance, so a Best Buy package may be more suitable if you are looking to save on the upfront cost of any deal. 

You might also want a deal to cover a valuation or legal fees. A Best Buy buy-to-let mortgage could be the most cost-effective choice in this instance, but it's worth seeking advice before entering any arrangement.

This week the top packages on a two-year fixed buy-to-let deal at 75% loan-to-value comes from HSBC, priced at 4.69%, which comes with a free valuation and charges a £3,999 product fee and is available to second-time buyers. 

If you want a loan with a lower upfront fee, then HSBC also has a Best Buy deal priced at 4.94% at 75% loan-to-value, which carries a free valuation and charges a £1,999 product fee and is available to second-time buyers.

If you are looking to borrow more, then Furness Building Society has a Best Buy two-year fixed buy-to-let deal priced at 5.73% at 80% loan-to-value for second-time buyers and remortgage customers. It charges a fee of £995 and includes a £250 cashback incentive. Remortgage customers will also receive a free valuation.

A five-year fixed buy-to-let mortgage may be more appealing for you to guarantee your monthly repayments for longer. If you looking to borrow at 75% loan-to-value, HSBC has a Best Buy deal priced at 4.39%, which carries a free valuation and charges a £3,999 product fee. 

If you want a loan with a lower upfront fee, then HSBC also has a Best Buy deal priced at 4.64% at 75% loan-to-value, which carries a free valuation and charges a £1,999 product fee.

If you are looking to borrow more, then Furness Building Society has a Best Buy five-year fixed buy-to-let deal priced at 5.39% at 80% loan-to-value for second-time buyers and remortgage customers. 

It charges a booking fee of £995 and includes an £250 cashback incentive. Remortgage customers will also receive a free valuation. This deal also happens to be the lowest rate on a five-year fixed deal at 80% loan-to-value.

By James Sillars , business reporter

A lack of strong corporate updates did for the FTSE 100 on Thursday.

A flat end to the day has been followed by a flat end to the week, with the index falling almost 0.1% to 8,433 in early deals on Friday.

Very little around for investors to ponder.

Developments this morning included pharmaceutical firm GSK saying it had raised £1.25bn from selling its entire remaining stake in Haleon.

The consumer healthcare firm was spun out of GSK almost two years ago.

One other announcement of note came from Sainsbury's.

It revealed a five-year strategic partnership with Microsoft that will see generative AI used to boost personalised shopping experiences for consumers, improve search functions and make staff working practices more efficient.

The financial terms were not disclosed. Its shares were 0.4% higher.

Away from the equity markets, it's worth taking a quick look at how oil is finishing the week.

Brent crude is trading above $83 a barrel on evidence of rising demand.

Prices at these levels should not have an impact at the fuel pumps but small recent declines in average costs could be reversed if the upwards oil price trend continues.

Greggs will open eight stores in the next few weeks, as the company continues its expansion plans 

The bakery said it would open a total of 180 new branches before the end of this year. 

We were told earlier this year that the famous sausage roll-seller would open new stores in London, Cambridge and Sale, but Greggs has now revealed where its next eight new branches will be. 

Here are the locations of the eight new sights, revealed by the bakery to The Sun:

• Saffron Walden, Market Place, England
• Bangor, Carnarfon Road, Wales
• Birmingham Prime Park, England
• Brierley Hill, Merryhill, England
• Consett Delves Lane Drive Thru, County Durham, England
• Edinburgh, 60-61 Seafield Road, Scotland
• Glasgow, Argyle St, Scotland
• Porth, U3C Geilligron IE, Wales

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