How to Prepare Your Candle Business During Slow Times
There’s never a bad time to work on your candle business, but sometimes it just doesn’t feel like there’s any time. Running a “small business” is no “small task”. Good processes and systems equip you to handle every pitch that can be thrown at you, including hardships, windfalls, and… slow times.
The 2020 pandemic hit a lot of candle businesses hard. Many were forced to close their doors while others shifted and matured their e-commerce presence (like P.F. Candle Co.). Social distancing shut down normal sources of revenue for candle & craft stores – craft fairs. Midwest Handmade, one of the larger organized craft fairs in the Midwest, canceled their spring lineup of events.
It’s common also for side-hustle candle businesses to ride out recessions by limiting work-in-progress and just waiting for it all to pass. Fortunately, there is more you can do to prepare your business (or side-hustle) for growth, innovation, and good times amidst slow or difficult circumstances.
1. Update (or launch) your website
Easily the biggest area of improvement among candle makers. Digital business is the future. Think about it for a second: everyone has the internet in their pocket. People spend more time with their digital devices than ever before.
Your site is your digital doorstep; the face of your business to the world. Having a website is not just recommended, it’s required for successful business in this decade. Nothing will help scale your business faster than a digital artery connecting your humble workshop with a 3.5 billion dollar candle market.
It’s often ignored and left on the “defaults”. It’s the easiest time in the history of humanity to build and manage an internet solution for your business to establish your brand and interact with your loyal customers, (even if it is just your friends and family for now).
And if you stink at figuring anything technical out, pay someone on Fiverr or network with other chandlers to find help to figure it out. There’s nothing you could think of that YouTube doesn’t have a video on already – use this tool. You’re a scrappy Maker!
2. Make new friends
In the same vein as building a digital presence with a website, it’s also a great time to expand your network.
Maker culture has exploded in the last decade as information has become wildly available and the quality has increased. Social media is saturated with creative inventions, beautify DIY projects, and expansive tutorials to learn just about anything. Candles are no exception.
Economic recessions are actually a great time to connect with new customers and colleagues since they tend to spend more time online. When life and business are busy, it can be hard to invest time to foster your customer base and build new professional connections, so downtime opens up more opportunities to invest in this.
Some of the tired old ways of digital networking still work fine for establishing customer base, but it’s why not get creative?
Community over Competition is the best excuse you’ll have to reach out to others in new and interesting ways. A few ways to connect include:
- Collaborating with your colleagues to create content (or candles) that serve no purpose other than education or entertainment
- Live streaming your work or latest projects
- Actually talking to your customer base through direct messages, emails, or even video chat (if you’re so bold!)
- Tuning your content creation to grow your engagement rates so you can get to know your customers or followers in a different way
3. Grow followers using guerilla marketing
Guerrilla marketing is using extremely creative and innovative methods to connect with customers and build your brand, even if it has nothing to do with candles. It doesn’t always result in a customer or sale, but it gets your name out there.
When business is slow, you may find you or your team have more time to work on this part of the business. Social media is important, but it all starts to look the same after a while. Work on building or executing interesting strategies for putting your small business name in front of other people.
Consider things like:
- Creating viral content for what’s popular in the world right now
- Giving away non-digital items with your logo or information on it:
- t-shirts
- water bottles
- pop sockets
- shot glasses
- Literally putting up flyers for your business
- Offering your time to volunteer
- Going totally off-center with some content creation to garner attention
Anything that gives you a good return on investment may even become a staple of your business.
4. Stockpile inventory and supplies
While it might not make sense to buy supplies when revenue is lower, it can be helpful to be prepared when a spike in business returns. You are always one campaign, viral post, or mainstream candle design away from blowing up into a full-time operation.
Slower business gives your processes and systems a chance to breathe. Inventory might be low, and supplies might be lower, but preparing for business-as-usual puts your best food forward. Scrambling to have supplies shipped or candles poured isn’t good business. Preparation is key!
Don’t just stop at stocking for your current product line – pick up supplies for your next big project or development work.
5. Research and develop
Finding time to improve and evolve your product line is hard when all you’re doing is fulfilling the same orders over and over. If you run a candle shop that peddles the same product line year in and year out, maybe it’s time to introduce that “Spring Collection” you’ve always wanted but haven’t found a good opportunity to build in to your business.
Candle making is a world of constant innovation, forcing the best chandlers to stay ahead of the curve. Slower business allows you to look inwards at your product offering and nurture something amazing for the world when the economy asks for your services once again!
6. Update product photography
Maybe a stable product line is the foundation of your business and you aren’t interested in pouring the Next Big Thing. When did you update your pictures last?
Updating your product photography not only gives you or your team the opportunity to express some creative innovation, it sends a message to your customers that you’re still working behind the scenes to make amazing candles. For better or worse, this is a world of short attention spans. Looking at the same old thing makes people tired. Change your look to keep things spicy!
Or maybe this is where you invest in learning product photography skills so you can do it yourself? The benefit of slow business is time – a resource you can spend on constant learning and innovation in all areas, not just photography.
7. Review and update the business plan
Do you have a business plan? Business plans aren’t complicated, but making the time for it can be overwhelming, especially if you’re a one-person business.
Even if you aren’t a recognized small business in your state, a business plan gives you a framework and focus for what you want to accomplish. They typically include important and specific components for your business operations like:
- Short-term and long-term revenue targets
- Vision for the product line and how to get there
- Specific market goals:
- Craft fairs
- e-commerce
- Direct sales
- Local, national, international sales
- Specific strategies and stages for achieving the goals listed
- How decisions are made in the company (more relevant with co-ownership or small team)
- Strategies for scaling certain components of the business
Good candle makers make a business plan and refine it throughout the year. Great candle makers make a business plan and stick to it throughout the year. The plan is a tool for focus, decision-making, and a structured approach to the goals for your candle making operation.
8. Prepare for sales
Preparing to sell candles when no one is buying them may seem foolish, but dedicating your resources, time, and vision towards success will encourage the spirit of your business.
Pour candles, even if it seems useless.
Research your target market and customer, even if they aren’t around.
Test and re-test all your candle designs, even if they aren’t selling.
Create and improve every aspect of your Point of Sale system, even if it won’t be used for a while.
Optimize the layout of your craft fair booth, even if nothing is on the calendar.
Success in business is built on strategy, systems, preparation, and a hell of a lot of hard work. Do not expect the economy and customers to come to you out of good will. You are an incredible chandler.
The slow times will end. Be ready for it.