How to start a Digital Candle Business Under $10K (Rs 5 lakhs) | Our complete business consultation

April 12, 2023
-Digital Marketing, Marketing Consultations

How to start a Digital Candle Business Under $10000 (Rs 5 lakhs) | Our complete business consultation

Start your own ecommerce business & restaurant, QSR, boutique & D2C brands at less than Rs 10 lakhs* with our digital business, financial solutions, payment & expert business coaching to grow your brands faster and lower the operation and fixed costs.

Candles are one of the most lucrative industries in the world. A recent study found that the candle industry was valued at $7.15 billion in 2020 and is projected to reach $13.38 billion by 2028.

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What is a digital candle business & start a digital boutique ?

Around 35% of candle sales occur during the Christmas/Holiday season. And about 65% of candle sales are non-seasonal. Here are helpful facts to help you understand the opportunity in the candle industry:
The retail price for a candle ranges from $1.99 for a votive to $35 for a large pillar or jar. Premium and luxury candles can cost $200 or more.
According to the National Candle Association (NCA), buyers view candles as appropriate gifts for holidays (76%), housewarmings (74%), hostess/dinner party gifts (66%), thank you’s (61%), and adult birthdays (58%). The candle industry is a growing and incredibly lucrative one.

There are three significant categories of target markets in the candle industry:

Prestige. The luxury candle market is a new and rapidly growing segment. A prestige candle can cost as little as $30 or as high as $200. Luxury candles are known for their premium packaging, fragrances, and emphasis on brand storytelling.
Mid-market. Candles in this tier appeal to a broader audience. They will likely be found at retail outlets such as Macy’s or Target. Most mid-market candles come with natural scents like rose water, coconut, grapefruit, or basil and cost at least $10 apiece.
Mass market. Mass market candles are among the lowest-priced in the market. This category’s candies come in classic scents like vanilla or ocean breeze and sell for $5 to $8. Most of this segment is dominated by brands like Yankee Candle and Bed Bath and Beyond.

Create your business plan

The key to success in business is to create a comprehensive business plan. A business plan is a written document that serves as a roadmap of how you will run and operate a profitable business.

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How to start the digital boutique & grow the brand?

A digital candle business can reduce the capex by 40%. These cost to buy items and rent can be anywhere between $30,000 to $180,000 (Rs 1 lakhs) per month, labor cost, decor and remodeling costs, etc.

According to SmallBizTrends, candle business startup costs typically “range from $9,500 to $78,000, with an average around $44,000.” Here’s how those expenses look when starting a candle business:

Production equipment – $500 to $5,000
Supplies (wax, molds, wicks) – $3,000
Insurance and legal fees – $500 to $3,500.
Permits and licenses for the business – $50 to $700.
Business software – $50 to $500.
Small business insurance – $500 to $2,000

Register your business: The first step to starting a boutique business in India is to register your business with the local authorities. This will ensure that your business is legal and recognised by the government.
Get a license: In order to operate a boutique business in India, you will need to obtain a license from the local authorities. This license will allow you to sell merchandise and services to customers.
Find a location: Once you have registered your business and obtained a license, you will need to find a suitable location for your boutique. This location should be easily accessible to potential customers and should have enough space to accommodate your inventory.
Set up your shop: Once you have found a suitable location, you will need to set up your shop in accordance with the local laws and regulations. This includes obtaining all necessary permits and licenses, as well as setting up the physical space of your boutique.
Promote your business: The final step in starting a boutique business in India is to promote your business so that potential customers are aware of its existence. There are many ways to promote a business, including advertising, marketing, and public relations campaigns.
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