My mom is retired and I’ve been thinking of making and selling candles with her for fun. I was really curious about this business model so I did some digging and found out some interesting things.
It can be worth it to make and sell candles if you enjoy the process!
Keep reading and I’ll share how much demand there is for candles and 7 pros and 3 cons of this business.
Is There a High Demand for Candles?
Before getting into any business it’s good to think about the demand for the product first. If there is NO demand then you don’t have a business right?
The good news about the candle business is the demand is projected to grow based on multiple sources.
Vantage Market Research believes the business worldwide will grow with a Compound Annual Growth Rate of 6.5%. future market insights feel that it will grow by 4.1%. Lastly, expert market research feels it will grow by 8.0% in the next 5 years.
The important thing is it’s going to keep growing and candles will always be in demand. Funny enough there is a really good podcast on the history of light HERE and it explains the power of light through time and economic growth.
Why Someone Should Consider the Candle-Making Business?
The first reason to consider a candle-making business (and ANY business) is to have fun first. If you don’t enjoy the business then your probably going to quit.
Do you like candles? How about doing something arts and crafty with your hands? If so, then maybe you would enjoy this business.
Here is a good video that shows some basics of what it’s like to make candles. This can give you an idea if you would enjoy and be relaxed with the art of candle making.
The second advantage is you’re providing a product that you know can have an immediate benefit to someone’s life. It’s important to sell what you like right? Candles can provide a ton of benefits if you think about it.
- They provide light (of course).
- They can be used to improve someone’s mood and help with relaxation.
- They can be used for romance (not bad).
- They can improve the scent of a room.
- They can help someone reduce their stress (we can all use this).
- Can be used for praying and remembrance.
- Can be used for decoration.
- Can transport you back to a time when things were simple right?
There really are many more benefits to candles if you brainstorm a list. Most importantly you will feel good knowing you are giving someone these benefits.
The third advantage (which is big) is there is a low startup cost. The startup cost can vary, but the best expense is probably getting the right education.
Plus, this place HERE can show you where to go to save money on materials. Most importantly this place HERE can give you some tips on marketing the candles in stores, fairs, and online.
The fourth advantage of the candle business is there is a wide variety of ways to market these products. For starters, they are lightweight and easy to ship, but can also be transported easily in a car.
You could take them to a local farmers market and interact with people directly. Heck, if there is a popular empty lot you could set up shop there “very easily.”
You also have the option to market them using website platforms such as Etsy, Craigslist, Shopify, eBay, and more. The creativity that can be used in making candles and marketing them is really amazing.
This brings me to the fifth benefit and that is how much creativity you can give to making the candles.
For starters just the wax alone there is an endless amount of options.
The sixth benefit (that I thought about) is keeping an elderly parent or kid entertained. Something other than video games or TV is a great thing.
Plus, your kid, parent or grandparent might even earn you some money (cool right)?
The seventh and last benefit is you can make a side income. It’s true we live in crazy times and having an extra stream of income is a VERY good thing.
I’m a HUGE fan of the book Antifragile that you can get HERE, where basically it’s good not to put all your eggs in one basket. Plus, being able to have a side hustle, where you have income coming in just is good for your psychological health!
There really are tons of other advantages, but these are a few that I came up with.
What are the Disadvantages of a Candle Making Business?
One of the largest disadvantages of a candle-making business is the number of options. There is a variety of different candles to make and ways to market the candles.
There is a term called paralysis analysis when there are too many choices and you pick nothing. I’m sure you have experienced this at some time right?
With any business, you ONLY want to purchase tools that you absolutely need to have (not want). I wrote about this in a recent post on a wood-making business HERE.
You just want to put yourself in profit as cheaply as you can then re-invest your profits to grow the business. If you’re not in profit then you don’t have a business you have a hobby right?
The next disadvantage is it takes a commitment (just like any business). Knowing when to quit something is NOT easy.
Businesses usually take a little longer than we expect. Jeff Bezos the creator of Amazon actually put a 10,000-year clock in a mountain to remind himself to think long-term.
Having patience can be a challenge today when more and more people just don’t have it. If you do have patience then it’s going to make you WAY more competitive.
The third disadvantage is going to be legal steps and having a business plan.
I’m not a lawyer, and this is going to depend on where you live, but this place HERE can give you some great information on this.
There are other businesses that are easier due to bypassing this step. Off the top of my head blogging and affiliate marketing is very easy due to this, fewer startup costs and having no physical products.
If you are interested in learning more about affiliate marketing I’m giving away a free eBook HERE.
The cool thing with affiliate marketing is it can work perfectly with candlemaking and you can document your journey making another stream of income.
Having a business plan is important because it can simplify things. I actually have 1 for blogging, where I have every single step outlined, and then I just paint by numbers.
Closing
One crazy candle fact that you may not know is that candles pull the fragrance up. There is only so much fragrance to candle wax and eventually, the fragrance gets burned up and you still have wax.
Also, the history of candlemaking has to do with animal fat or tallow. It’s “a lot” of work and now making candles with animal fat is mostly forgotten.
In the crazy times we live in having a side hustle or business is a great idea. If you find that candlemaking isn’t your thing you could prefer to check out this simple craft business HERE.
I hope this blog post on the candlemaking business was helpful. Bye for now.