Source: aajtak
The Diwali festival is in full swing, with marketplaces alight with vibrant colors. If you're contemplating launching your own business, the festival of lights is an excellent time to embark on this venture. With minimal investment, you can witness substantial profits by starting a business in something that sees massive demand during Diwali. Yes, we're talking about candles. Although electric lights are getting popular, the desire for colorful candles remains unyielding, and the celebration feels incomplete without them. Capitalizing on this opportunity, you can initiate a candle-making business with just ₹10,000, turning it into a lucrative endeavor. Discover the process and the logic behind this profitable venture...
Source: aajtak
Profitable Ventures with Low Investment
Candles light up every corner of the house during Diwali, and their market has significantly expanded, displaying a remarkable demand during the festive season. Entrepreneurs in the candle-making business enjoy substantial profits, particularly during Diwali, in only a few days. But the need for candles extends beyond just Diwali; they're essential for birthday parties, religious events, and are sold throughout the year. Nowadays, they're not limited to small shops — they're readily available at retail and wholesale markets, as well as online. You can jumpstart this business at a small scale with merely ₹10,000 to ₹15,000, crafting them from the comfort of a small corner of your home.
Source: aajtak
Easily Accessible Materials
This is a venture where initiating operations doesn't necessitate expensive machinery or large equipment. Additionally, materials required for candle making are conveniently available in the market. Initially, you can use molds, filling them with wax to create candles of various designs. These molds are obtainable at modest prices. The initial materials include wax, wicks, colors, and ether oil for standard candle making. You might also use scents for popular aromatic candles, obtaining these supplies either locally or online according to your budget.
Source: aajtak
Grow Your Business with Government Loans
As the demand for your candles grows, you can acquire automatic machines to enhance production capabilities, enabling you to fulfill more orders in less time. Priced around ₹35,000, these machines come in different categories: manual, semi-automatic, and fully automatic. Manual machines allow the production of about 1800 candles per hour, whereas fully automatic machines can create at least 200 candles per minute.
Amidst growing demand, present colorful and designer candles under your brand. As demand rises, expand your business further. You can apply for government-provided Mudra Loans or other loans geared for small businesses, offering employment to others while amplifying your brand.
Source: aajtak
Market Your Candles Effectively
Marketing is key to initiating any business and launching your brand product in the market. For your candles, you can visit local markets and acquire orders from stores, as every shop sees candle sales during Diwali. Moreover, you can brand your candles and sell them online by contacting e-commerce platforms. Supply bulk to wholesalers and steadily increase your earnings. The income can double or even triple at the outset, and growing your business could lead to substantial profits.
Source: aajtak
Boost Income with Creativity
For instance, if you produce 100 ordinary candles, considering the costs of wax, wick, colors, and packaging, the entire cost approximates ₹500. These basic candles can easily sell at ₹10 apiece, allowing a direct 50% profit. Now, if you venture into decorative or aromatic candles, you could command prices ranging from ₹50 to ₹200 in the market, whereas the production costs range from ₹15 to ₹50, yielding 100% to 300% profits.
