The candle making business plan can be a short and simple affair if you're comfortable piecing together secondary research and are capable with financial modeling. The market need for candles is obvious enough, and demand is steady, so the only real data you need to provide is a set of stats on the state of the industry (available through Dun & Bradstreet or IBIS) and, if relevant, a demographic snapshot (online at census.gov) of the end users to whom you will sell. The rest of the candle making business plan is, as they say, in the details -- and entirely specific to the company that you envision:
• How will you make or acquire the wax, wick, and other supplies you need?
• is the shop a home-based office, or will you have to rent a facility?
• Will the business require any additional staff?
• Do you know what amount of funding you will need and how you will allocate it, by category?
• Can you gauge a break-even point and estimate your profitability within three years?
Some of these are not "right answer" questions, and you should feel free to create working estimates that seem reasonable based on the market and industry analysis you've done. Make sure to look at the competitive landscape as well, discussing national players and, in more detail, the companies nearest to you that might pose a direct competitive threat. Want to get some help with the market research and/or the financial pro forma? MasterPlans has been writing professional business plans for start-up and existing businesses since 2002. We can work with you to get a funding-ready document to take your candle operation to the next level. Call a consultant toll-free: (877) 453-2011.
