On Behalf of the Candlewic Staff we Wanted to Thank Everyone
What another exciting year it has been and we wanted to sincerely thank each and every customer for their support this past year. We are now entering our 44th year in business
helping candle makers of all sizes. We have many exciting announcements in store for 2014 and we will be making them in the upcoming months but the one thing you can always count on
from us is to continue to deliver quality products at the most competitive prices. Our staff is here to help you with all of your needs if is picking a great fragrance, guidance on a
wax or narrowing down your wick selection we are here to help.
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 your inventory.
11. Pipers Piping
The fiscal year for most companies will be ending shortly. Be sure to get your tax information together so that 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 free up valuable space within your warehouse. You don't make any money on candles sitting in your warehouse or on a shelf. Holiday candles are difficult to sell after January 1st, unless deeply discounted. Excessive inventory not only takes up space, but 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.
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 candles directly to your community. Take 20-30 candles with a nice bow on them 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 instance, 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 for which the profit is better than others. Examine ways to sell more of the higher margin products in 2014.
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 candles. Most people start the New Year with a lot of optimism, and if you can put ideas and concepts in their thought process early enough, you will have an advantage over your competition.
3. Change Candle Names
If a candle is a holiday-specific fragrance, rename it 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, such as purchasing any new equipment you might need. Year-end is always great for budgeting and planning so that you can kick the New Year off right. While the inclination is to wind down the year, we have always been advocates of taking this slow time to re-examine the entire business.
1. True Love
Most consumers love candles. Be sure to use this in your marketing plan for 2014. Candles can serve many functions: room freshener, accessory, and even lighting. Be sure to incorporate all of these popular uses into your plan for new products in 2014. Most importantly, be sure your passion and love for the business still burns.
I personally want to thank everyone for trusting me enough to answer all of your inquiries. I truly enjoy reading each and every email, because it shows how many
people share the same passion I do for the art and business of candle making. Candlewic is kind enough to give me some time off from publishing in the Enlightener, but I am
still available to answer all of your questions.
I would like to point out that while I may be off duty, we do have several other resources that may be of assistance:
When I pour my soy wax I get a crusting on top of my candle or it looks like my color bleeds why is this happening?
Soy has many positive attributes but one thing that it is not quite as effective at is holding fragrance. In most instances when this occurs you have put more fragrance in the
wax then it can hold. The bleeding is actually the fragrance oil bleeding which pulls the color with it.
There are several things you can do to try and correct this:
- Pouring at a lower temperature can capture the fragrance in the wax before it has time to bleed out.
- Use an additive to help hold the fragrance in the wax Palm Stearic (all natural) at 10-20% depending on how much fragrance you want to add.
- The least popular is try reducing the fragrance load.
A similar related question is can I add paraffin wax to my soy?
The answer on this is definitely yes at any chosen percentage and will depend on how you want to market the candle. Many companies are using something like a 51% Soy and 49% but any percentage will work.