1. Low Start-up Costs – Candle making requires little in terms of capital investment compared to other small businesses. Most tools and supplies needed to make candles are inexpensive, meaning you don’t need to spend a lot of money up front.
2. Flexibility – You can make candles around your own schedule, which makes it easy to fit this type of business into any lifestyle. With candle making, you get the benefit of being able to design and create a product as well as market and sell it, all from your own home.
3. Potential Profitability – Candle making can be a lucrative business if done correctly. The demand for candles is always strong, and with the right marketing strategy, you can reach out to new customers and increase your profits quickly.
1. Low Profit Margins – In order to make a reasonable profit with candle making, you need to keep your costs down. This means that you may have to compromise on quality ingredients or production methods in order to keep prices competitive.
2. Time Consuming – Making candles is a labor-intensive process and it can take quite a bit of time to produce just one finished product. Furthermore, collecting supplies for large orders can be time consuming and expensive.
3. Competition – There is a lot of competition in the candle making industry, so it’s important to differentiate yourself from others by offering something unique or different. You also need to stay up-to-date with trends and pricing in order to remain competitive.