How to Price your Candles | Make a Profit from your handmade products
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- Опубликовано: 27 мар 2023
- Hey there! Today's video is all about determining your cost of goods and finding out how to sell your handmade candles for a real profit. If you are a small business owner you DESERVE to be paid for the hard work you are doing! Don't undercharge.
My Website: beeswaxandwicks.com/
Article with FREE pricing worksheet: beeswaxandwicks.com/how-to-pr...
Candle-making resources: beeswaxandwicks.com/resources/
DISCLAIMER:
All info presented in this video is from my own experience, and should not be taken as advice but more as a reference to help you determine your own cost of goods. Every candle maker's journey is different, and yours might look different than mine.
That being said, I hope this video is helpful for you!
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Something to cinsider for the pricing of your candles would be the fixed costs ( business liability insurance, electric, water etc ) running a calculation to ensure you're covering the basic business costs not just the profit.
I wonder if there is a recommended percent or margin to add to accommodate for this. Surely there is an average somewhere that somebody has calculated…? Maybe
This video was so helpful! You’re awesome 👏🏼 thank you
This makes so much since. I use bees wax a lot but I also use soy and coconut for some of my first collection candles . This does makes sense now I need to find out the shipping part. I haven’t launched yet However my family and friends have been buying candles… I post my tester on social media so people will know that I’m getting close to launching and they seem interested and waiting patiently.
Where do you get your beeswax from. I have coconut/soy and am afraid of counterfeit beeswax
Thank you for sharing
I am interested in labels 🏷 making
Awesome video! Lots of great information. Thank you! 💕✨🕯️
I'm so glad you liked it! I tried to give as much helpful info as possible :)
I sell wholesale at around 2x cost, retail around 3.5x for a 6 oz candle. I do sell other products at anywhere from 3x to 9x retail. The 9x is actually 5x wholesale. You have to consider market value too. It could be that some items don't sell at 4x but would at 3x. And others, your competitors could be at 7x your cost and they fly off the shelf at 6x. Anything less than a 3x retail to sell is not worth making. You're better off skipping that product. But yeah, learn your cost and be able to give an exact number per item. And don't be afraid to wholesale at a lower cost like 2x or 2.2x. If I have a store purchasing 300 candles from me, I don't mind a 2x. It's super easy to mass produce. And 3 days of work for a $2,000 sale is worth it to me.
Thank you for sharing!!!
Of course! I'm glad you found this helpful!
I am interested in label making
thanks for the video very helpful
Thanks for the video. As with most watching, I just started making candles. I am interested in a at home label making video from you.
Awesome! I do have a video teaching how to make labels, I don't print them myself but I do design them!
You have given a great deal of valuable information. I'm having trouble getting the links you've provided to work. What is the best way to connect with you?
Hello. I would like to learn about label making.
I would love to see a label making video pls.
Love your Channel ❤
Thank you so much!
I do actually have a video on how I make my labels!
Where does the cost of goods come from? Do we guess how much the wick is and then add up to a reasonable profit
I am looking to get into making candles and my question if you usually need double the solid wax to make a candle wouldn’t you use 16 oz to make an 8oz. Candle?? If so doesn’t it double the cost of was. Everything I see you double solid wax for liquid size
What about adding cost for melting the wax.
Where are you sourcing your beeswax? I've not found any beeswax close to $8/lb. Thanks for staying with natural ingredients!
Amazon, candle science, and Bulk Apothecary typically have it for around $8 per lb!
Hello I'm starting a candle hustle/business myself but am doing so now from Beijing. Perhaps you and I could work together, I could learn the candle biz from you and help you reduce costs by helping you import your materials.
And that price doesn't expressly count the cost of electricity and utensils...
That is true!