$1,370/Day in The Candle Business… WHAT?!

Sisters Jen and Jocelyn have grown their candle business from a side-hustle to a $500,000 a year revenue—and it all started with about a hundred bucks! We’ll learn how they did it in this interview.

Jocelyn first started making candles as a hobby and a way to give unique gifts to coworkers. She brought her sister Jen on board when she started selling her handcrafted candles at farmers markets. After a successful Kickstarter campaign, Jocelyn took the leap to focus on her business full-time, and then Jen followed soon after.

One great thing about a candle store is it doesn’t take a ton of money to get started. Jen and Jocelyn reinvested all the profits from their farmers market sales into the business. In the episode, Jen explains the best things to invest that money into to grow a business quickly, and her advice for someone who wants to start a handmade candle business with no money.

While they started with a farmers market booth, most of RxLA’s sales today are online. Jen shares how they built their online store and why sending email newsletters has been so impactful in growing their candle sales and revenue.

Jen and Jocelyn bootstrapped their business and were doing everything themselves when they started. Jen will share when they hired their first employees and how that’s fueled their growth. One way they tried to scale during Covid was through a brick-and-mortar store, which turned out to be their biggest setback. We’ll learn about the challenges of opening a physical retail space and what Jen and Jocelyn would do differently if they were starting it again.

Starting and running a successful candle business involves several key steps and considerations. Here's a step-by-step guide on how to start a candle business that has the potential to earn $1,370 or more per day:

1. Market Research:

- Begin by researching the candle market. Understand your target audience, their preferences, and what types of candles are in demand.

- Identify your competitors and analyze their products, pricing, and marketing strategies.

- Look for gaps in the market that your candle business can fill, such as unique scents, eco-friendly options, or specialty candles.

2. Create a Business Plan:

- Outline your business goals, including your target revenue, expenses, and profit margins.

- Develop a detailed business plan that includes a marketing strategy, production plan, and financial projections.

- Decide on your business structure (e.g., sole proprietorship, LLC) and legal requirements.

3. Product Development:

- Experiment with candle-making techniques and ingredients to create high-quality, unique candles.

- Consider offering a variety of candle types, sizes, and scents to cater to different customer preferences.

- Pay attention to packaging and branding to make your candles visually appealing.

4. Sourcing Materials:

- Find reliable suppliers for candle-making materials, such as wax, wicks, fragrance oils, and containers.

- Negotiate prices and secure favorable terms to reduce production costs.

5. Production Setup:

- Set up a dedicated workspace for candle production with proper ventilation and safety measures.

- Invest in equipment and tools for candle making, such as melting pots, thermometers, and molds.

6. Legal and Regulatory Compliance:

- Register your business and obtain any necessary permits or licenses.

- Comply with safety and labeling regulations for candles in your region.

7. Branding and Marketing:

- Create a strong brand identity, including a memorable company name, logo, and packaging design.

- Develop an online presence through a website and social media platforms.

- Utilize online marketing techniques, such as search engine optimization (SEO) and social media advertising, to reach a wider audience.

8. Sales and Distribution:

- Decide on your sales channels, which may include an e-commerce website, local markets, or partnerships with retail stores.

- Set competitive pricing for your candles based on production costs and market demand.

- Establish a reliable supply chain and shipping process for online sales.

9. Customer Engagement:

- Provide exceptional customer service to build loyalty and positive reviews.

- Encourage repeat business through promotions, loyalty programs, and subscription services.

10. Scaling and Growth:

- Monitor your business's performance and adjust your strategies based on data and customer feedback.

- Explore opportunities to expand your product line or enter new markets as your business grows.

Remember that building a successful candle business takes time and effort. It's essential to continually innovate, adapt to market changes, and stay dedicated to delivering high-quality products and exceptional customer experiences to reach your income goals.