In the United States, candles contribute about $2.3 billion in revenue annually. This figure is only for the sale of candles and not candle accessories like candlestick holders. It is a huge figure but when compared to other industries, it can appear minute. For example, the computer industry in the United States contributes a revenue worth $86 billion annually. Comparing these two industries makes the candle sector appear small scale. However, if you think about it, candles are not an everyday thing. They are mainly bought during the holidays or on occasions like birthdays and other parties. Therefore, for just those occasions, $2.3 billion annually is actually a huge figure. Since candles are discretionary, their purchase or sale hugely depends on the economic climate. One of the best ways to claim a portion in the world of business ownership is by starting a candle store.
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This is because the sector is fun and profitable. Apart from that, no one needs an introduction when it comes to candles. Everyone in their own way, have used candles at least once in their lifetime. Therefore, this is a product that people are aware of and so embracing your business is easier. People use candles for different reasons among them meditation, fragrance or relaxation. This implies that people will always need a candle regardless of their social class or where they come from. Therefore, there is a ready market in this industry. So if you follow the necessary steps, running a candle store can be a huge success. Specialty candles have continued to grow in popularity over time since the previous decade. This means that more and more individuals are embracing the relaxing effect that a scented candle brings. With the heightened demand of these specialty candles, this exposes a tremendous opportunity to the business community. This is a potential opportunity to grab for any innovative entrepreneur. You can start a venture that involves making and selling candles. According to studies, 7 out of 10 households use candles and roughly a third of the candle sales occur during holidays. The best thing about the candle industry is that it offers consumers a variety of options to choose from. Some of these endless varieties include various shapes and sizes. Candle types vary from votives, tealights, pillars, and taper to floating candles, outdoor candles, utility candles, birthday candles, jar/container candles, novelty candles, and liturgical candles. These varieties do not only offer options to consumers but also to entrepreneurs, you can pick any niche and specialize in it. Proper marketing strategies will go a long way in ensuring that people make bulk orders when they need candles. Otherwise, you can sell several types of candles to ensure that you are on business all year round. According to research, women buy 90% of all candles in the U.S. In America, pillars, votives, and container candles are the popular types in high demand. Studies show that cost, scent, shape, and color are mainly critical factors that affect candle sales. The fact that candles are cheap facilitates their sales because they are affordable. The retail price of the votive candle, for example, is approximately $1.99. For the large jar or pillar candle, the price is approximately $35. There are also candles that cost more than $200 especially, the highly scented candles in beautiful containers.
Here are some important points of information to research before you decide on which Candle franchise is best for your situation.
1. Check out all the other franchise locations and other types of Candle franchise market competition in your area.
2. Research each Candle franchise and list the services they offer and specialize in to determine the best fit for you.
3. Review each Candle franchise and make a chart that includes franchise fees, startup cost, cash investment, etc.
4. Call and talk with current franchise owners and get their opinion on the pros and cons of the different franchise options.
At Franchise Clique, we are proud to present a variety of Candle franchise opportunities in our listings. Find your next investment today!
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