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December 22, 2014

New Year, New Beginnings

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"The En-Light-ener"
Candle Making Newsletter

New Year, New Beginnings

As we draw close to the end of yet another very exciting year, we truly wish to thank each and every one of our customers. We strive to continually improve and offer products that will help you grow your business. One of the most exciting things that we launched this year was our new website, which continues to meet the demands of the online community. We hope our new site navigation has made finding your candle making supplies easier than ever.

For our long term readers, we truly thank you for your dedication; it is a big part of why we continually offer this newsletter. While it is sometimes difficult to introduce a new technique or subject in every issue, we hope each has had some bit of information that will help your business or hobby. One of the most unique things that has changed in the last five to ten years is the ability to communicate with our customers via Facebook, Twitter and YouTube. It is exciting to be able to announce new products, changes and update customers on the status of our activities instantaneously.

The year 2015 will bring us into our 45th year of helping candle makers of all sizes. What differentiates us from other companies is that we manufacture and process many of our own products, ensuring that they are the most competitive in the marketplace. We can assure you that we have many new and exciting announcements to make in 2015 that will help you grow your business, hobby or craft. In 2014 alone, we launched nearly 40 fragrances, five new waxes and many accessories, all based on requests from our customers.

As always, our staff is here to help you with all of your needs, from helping you pick a great fragrance, guiding you in selecting the right wax, or narrowing down your wick selection.

In each year’s final issue, we bring back an article we wrote several years ago that has a great holiday theme! We do apologize to our devoted readers who have read this in the past, but maybe something came up during the course of this year that could be solved by revisiting this helpful article.

12. Drummers Drumming (Can't resist this one!)

As the number of shopping days dwindle, 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. /p>

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 that sit 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.

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 to 10 months.

7. Donate to Your Community

Think about giving away candles directly to your community. Take 20 to 30 candles with a nice bow on them to your church, spouse’s 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 into “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 2015. Candles can serve many functions: room fresheners, accessories, and even lighting. Be sure to incorporate all of these popular uses into your plan for new products in 2015. Most importantly, be sure your passion and love for the business still burns.

CHANDLER'S CORNER

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

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 that 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:/p>

Need help picking out the proper wax, wicks or colors? Be sure to check out our video library!

For help with a number of other candle business basics, visit our Business Tips page.


December 2014


Featured
Projects in 2014

One-Pour Tins
(January)


Tealights

(February)


Rose Candle

(March)


Summer Sand Candles

(April)


How to Make a Profit?
Use a BOM.

(May)

Soy Candles
(June)

Making Streak Candles
(July)


Clam Shell Melts

(August)


Palm Wax Candles

(September)


Holiday Votives & Floaters

(October)

Luminary Candles
(November)

 

 

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We hope you enjoyed this issue of the En-Light-ener.
Thank you for your continued interest and support.
Our goal is to make this newsletter as entertaining and educational as possible.
Let us know if you have any ideas on how we can improve.

 

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