New year, new venture? A private label business could be a great career move If you want to make a change this year and strike out on your own. Owning your own brand allows you to be your own boss. This means you can have more freedom in what you sell but also in the journey your career path takes.
Here are a few more reasons to start a business with private labelling this year:
Profit opportunities
Candles have become a very popular product. In fact, over 80% of households use scented candles. While their demand increases for holidays like Christmas and Mothers Day, there is also a steady market throughout the entire year. Their popularity is actually expected to grow further over the next few years.
According to a 2021 report, the scented candle market on a global scale is expected to reach $690.8 million by 2028. It should increase at a CAGR of 3.3% from 2021 to 2028.
Get creative
Candles are a product that you can easily put your own spin on. From wax choice to fragrances to packaging design, use your imagination and you can come up with something really unique. Once you have a great brand vision you can start selling.
Easy To Scale
To start a candle business, you can use a private label manufacturer or make your own hand-poured candles at home. Both are viable options. However, a private label manufacturer is more convenient for scaling your candle business. Bespoke Candles will also carry out safety testing and advise you on any legal regulations you need to meet. This is very important if you are selling on a big scale.
Low-Cost Entry
The cost of starting a candle business can greatly vary depending on the materials, design, quality and supplier you choose. However, generally speaking, candles can be produced reasonably cheaply, so you can afford to start with little savings and risk attached.
Great to Market
We all know a scented candle addict! Candles are very popular making them much easier to market and sell on social media platforms. Depending on your candle niche, decide which social media would give you the best return on investment.
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