As more people become enamored with the concept of working from home, they’re looking for ways to sustain income streams that will allow them to have more freedom and autonomy over their schedule. Even if you look at small businesses that work out of chic office spaces, they still have an overhead cost to deal with. When you work from home and start a business, you might be able to enjoy more tax write-offs. If you’re interested in starting a business like a candle company, consider some of the ways you can get started from the comfort of your own home.
Develop a Recipe
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Develop a candle recipe that’s unique, delightful and safe. Experiment with different fragrances, wax options and more. As you test your candles to see how they do in different climates, you’ll get a better understanding of what you want the finished product to be. Test the market by starting with one or two options at first. As you become more profitable, you can add new candle options to your shop.
Find Inexpensive Ways to Source your Materials
If you want to remain profitable, it’s very important to keep a close eye on your profit margins. Find ways to inexpensively make the candles and source the materials. Consider the shipping costs associated with glass versus another material. Develop relationships with reliable vendors as they can help you achieve the profit margin you desire.
Build a great Online Home
Your website is your shop’s form of digital real estate. Make sure it accurately reflects your company’s vision. The aesthetics between the website, social media platforms and email newsletter need to be cohesive. If you’re not good at building a website, don’t worry. You have candles to make and sell. Focus on that. There are companies that can handle the website management with ease and magento migration. From transactions to website bandwidth, it’s best to invest in an eCommerce platform that can do it all for you. When this happens, you won’t have to worry about learning the intricacies of HTML, coding or other technical nuances.
Maintain a Strong Marketing Platform
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Consider the audience you’re looking to build. If you want your candle to be a high-end option, advertise in front of a specific audience who will pay the amount. There are ways to use Facebook ads and Instagram ads to get your product directly in front of your target customer. It’s also wise to use offline strategies in tandem with online options. Offline marketing methods include sending direct mail, purchasing billboards and reserving air time at the local radio stations. Online methods include podcast sponsorships, influencer brand deals and social media marketing.
As you work on incorporating these tips into your process of building a candle company, always remember to get your legal ducks in a row. Whether you choose to register as an limited liability corporation, a sole proprietorship or a corporation, make sure you have all of the legalities taken care of. Then, you can freely enjoy the benefits of building your own candle company that’s sustainable and profitable.