December 01, 2008

The 12 Days of Business

The 12 Days of Business

Hard to believe we are almost to the end of 2008. We wish to thank all of our customers for their continued support in 2008. We look forward to the opportunity of working with you in 2009 as we start our 37th year in business we look forward to facing the challenges of the industry.

At times it would be nice to be able to forecast what the industry would look like in 2009, but, as we have all found, the market can go through rapid changes both industry-specific and also in macro economics. There are many reasons for the candle industry to be optimistic in 2009.

One of the new "buzz words" as the economy continues to struggle is "nesting". Many people have different definitions but, in general, people are not moving to larger homes; avoiding the very large ticket items but focusing more on smaller and intimate decorations. Without doubt candles can be a big part of this transition.

In addition because many candle makers tend to be smaller in size, they can be more nimble and are in a better position to respond to market conditions. No one knows for sure what 2009 will hold, but you can count on one thing: Candlewic will be here to assist you in every way possible. In addition we still have some very strong promotions coming up to help you save some money and get the 2009 year started right.

We received so many positive comments about our year end issue we thought we would re-print it this year. (Plus we have been so busy these past several weeks getting the orders out we have not had a chance to finish all our research).

As business owners there is a great deal that can be done between now and the time you pop open the champagne to start the New Year.  No matter how small you are, some of these tips can be of great assistance both this year and getting 2009 off to a good start.     

Since we are so close to the Christmas holiday we will keep in that spirit and present these tips in concert with the 12 Days of Christmas. These are not necessarily in any type of order, except where I could find a corny way to incorporate into the suggestions.

12. Drummers Drumming (Can’t resist this one)
As the number of shopping days dwindles, it's imperative to finish strong. Be sure to “Drum” up as much business as possible before the holiday.  Offer incentives to help reduce inventory. 

11. Pipers Piping
Most companies fiscal year will be ending shortly. Be sure to get your tax information together so when it comes time to pay the piper (had to reach on this one) you will be prepared.

10. Evaluating Your Inventory
Evaluating your inventory is a very important year end exercise for any size business. Reducing inventory can be very important because it can generate cash flow for the new year and not be taking up valuable space in your warehouse. You didn’t make any money on candles sitting in your warehouse or shelf.  Holiday candles are difficult to sell after January 1st unless deeply discounted.  Excessive inventory takes up space and hinders your ability to purchase new products.  

9. Donate to Charity
If it appears certain candles will not sell, consider donating them to an appropriate charity. This will go to a good cause and can help with your tax deductions. If they have no value, be sure to get them off your books so you do not have a tax liability on items that have no “market” value. Check with  your accountant for all true tax questions.

8.  Discount
When it appears selling at full value will not happen, offer deep discounts because generating the sale in most instances is better than having the inventory for another 9-10 months.

7. Donate to Your Community
Think about giving away the candles directly to the community. Take 20-30 candles with a nice bow to your church, spouses work or neighborhood holiday party. Give them to individuals that may not necessarily know that you make candles. They would be very appreciative of this gesture and may be more inclined to purchase your candles in the future.

6. Geese a Laying
While the information is fresh, look over your holiday sales and determine which items were big sellers (Golden Rings) and which are ugly ducklings (in this instances non-sellers). This will help determine which products you will want to drop from your product line.

5. Golden Rings
While you are looking over sales data, don’t just look at sales but also gross profit (see the May 2007 issue on pricing). You may have several items that the profit is better than others. Examine ways to sell more of the higher margin products in 2009.

4. Calling Birds
Reach out to all of your customers and let them know some of your plans for the upcoming year.  It might be new fragrances, new containers or even types of candle. Most people start the New Year with a lot of optimism, and if you can put ideas and concepts in their process early enough, you will have an advantage over your competition.

3. Change Candle Names
If a candle is a holiday specific fragrance rename so you can extend the selling season until the end of winter. A Christmas Cheer might turn to Winter Delight. 

2. Be More Efficient
Since there may be some slow days, look at your operation and see if there is any way to make it more efficient.  Any new equipment you might need.  Year end is always great for budgeting and planning so you can kick the New Year off right.  While the inclination is to wind down the year we have always been an advocate of taking this slow time to examine the entire business. 

1. True Love
Most consumers love candles. Be sure to use this in your marketing plan for 2009. Candles can serve many functions; room freshner, accessory and even function as lighting.  Be sure to incorporate all of these as you plan for new products in 2009. Most important be sure your passion and love for the business still burns.

On behalf of the Candlewic Company we wish everyone a safe and Happy Holiday Season

 

Hi! I'm Chandler!
I can help you
learn how to make candles.

CHANDLER'S CORNER

I am about to use the Custom Wick Builder and I am not sure how to choose the proper wick base can you help?

Choosing the correct wick base is very important to the overall performance of you candle.  I will try and identify each of the wick bases we offer.

The first number is the diameter of the clip, generally the 20 mm is the size of a nickel and the 15 mm is the size of a dime. The second number is the diameter of the neck or support.

20 x 3 mm is the best selling and is very well suited for votives and containers.
20 x 6 mm is the best selling for gels and some paraffin candles especially when using 2 wicks.
20 x 9 mm or
15 x 9 mm
should always be used when making
gel candles.
33 x 3 mm is the perfect answer for the self-centering clip on votives.

 


December 2008

Featured Projects of 2008

January -
Rose Candle
A candle for sweethearts.

February - Ice Candle
Ice & candles. . .What a
fun project!

March - New & Exciting Candle Products
Votive pins, wick stick, bow tie wick clip, plastic jar caps, and glue dots!

April - Aluminum Molds
Use different aluminum molds to make unique molds for your unique personality.

May - How Green
Can You Go?

Makea soy wax candle in one of the new recycled glassware pieces.

June -Beyond Ordinary
Making a floater in the shape of a rose can make it extraordinary. The rose is also the "official flower" for June.

July - Making dipped candles
A simple, elegant project that works for all occasions.

August -
Pillar Candles

Explains what types of pillar molds are available and how to choose them correctly for pillar candles.

September - Luminaries
Even if you are not a candle maker you can get your entire neighborhood involved.

October - Making a
Mottled Candle

Learn how to make your heavily fragranced candles have the popular mottled look.

November - Custom Molds Using Our NEW Miracle Mold Material (M3)
Have you noticed an item in your home that you thought would make a unique candle and/or soap mold? But, then you realized that making the mold was a difficult and costly endeavor? This was truly the case until Miracle Mold Material (M3) came along.


View All

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