If you’re considering getting into the candle industry, you may wonder if you should start your own candle company or a franchise. There are pros and cons to both, and it’s essential to understand them before deciding.
This article explores the pros and cons of both and five candle franchises to consider.
Pros and Cons of Running a Franchise
When you run a franchise, you buy into an already established brand. The company sends you the product and marketing materials, then you advertise and sell to local customers.
There are quite a few pros to this setup.
Support
For starters, you have the support of an already established company. If you have questions or need help with anything, they will be there to guide you.
Brand Awareness
People are generally more familiar with and trusting of big brands, so it can be easier to sell their products.
Ease of Entry
Since the company has done most of the legwork in product development and marketing, it can be less expensive and time-consuming than starting your own candle company from scratch.
Of course, there are also some cons to running a franchise.
Less Control
One of the biggest cons is that you may have less control over your business than if you were to start it independently. For example, you may be required to sell only the company’s products, and you may have less say in how you market and sell them.
Upfront Costs
Franchises can be expensive to start, and you may have to pay ongoing royalties to the company.
Pros and Cons of Running Your Own Business
If you decide to start your own candle company, you’ll have much more control over every aspect of the business, which can be good and bad.
On the plus side, you’ll be able to choose your products, branding, and marketing, and won’t have to answer to anyone else. Additionally, you can avoid royalties and franchise fees.
However, there are also some negatives to starting your own candle business. First, you’ll have to do all of the legwork yourself in terms of product development, marketing, and more, which is time-consuming and expensive.
Additionally, as a business owner, you’re responsible for everything that goes wrong, and there’s always the risk that your candle company could fail.
Five Candle Franchising Opportunities
If you decide to go the franchising route, there are a few candle franchises that you may want to consider.
Unique Classic Candles
Unique Classic Candles offers various candles, including scented, unscented, and soy candles. They also offer candle holders, melts, and other candle-related products.
The cost to open a Unique Classic Candles franchise is $25,000, including the initial franchise fee, which is $15,000.
Crazy Candles
Crazy Candles specializes in unique and unusual candles. They offer a wide range of scented and unscented candles, as well as candle holders and accessories.
The cost to open a Crazy Candles franchise is $30,000, including the initial franchise fee, which is $20,000.
Candleman Corp.
Candleman Corp. offers a wide variety of candles, including scented, unscented, and soy candles. They also offer candle holders and melts.
The cost to open a Candleman Corp. franchise is $50,000, including the initial franchise fee, which is $35,000.
Moments Candles
Moments Candles specializes in unique and personalized candles. They offer a wide range of scented and unscented candles, as well as candle holders and accessories.
The cost to open a Moments Candles franchise is $40,000, including the initial franchise fee, which is $30,000.
Lumière Candle Studio
Lumière Candle Studio offers various candles, including scented, unscented, and soy candles. They also offer candle holders and melts.
The cost to open a Lumière Candle Studio franchise is $45,000. This includes the cost of the initial franchise fee, which is $20,000-30,000. Lumière Candle Studio also charges ongoing fees, including a royalty fee and an advertising fee, 5% and 3% of monthly gross sales, respectively.
Start Your Candle Business
Starting a candle business can be a great way to be your own boss and control your destiny. However, it’s crucial to weigh the pros and cons before deciding.
If you decide that franchising is the right option for you, there are several candle franchises to choose from. Do more research on each one to find the perfect fit for you and your goals.