Customers frequently ask us this question: What should I charge my customers for my candles?
This is a question that many candle makers often ask. Knowing what to charge for your candles is a pivotal point in your business. You want your price of the candles that you sell to be competitive. You also want to remember that the candle price should also reflect not only your cost but the time that you put into your candle making procedure as well.
What to charge for my candles? When I made and sold finished candles, I had an easy equation that I used to figure out the price I would charge my customers for my candles. First, I added up all of my expenses. This told me how much it cost me to make the candle I was going to sell. When I sold my candles at wholesale prices to stores, I charged the customer double what I paid to make the candle. When I sold directly to retail customers myself (without sales reps involved), I charged the customer triple what I paid to make the candle.
After I was in business a while, I realized that in order to sell more products, I would need to get help from other people. That is where Independent Sales Reps were introduced in my candle company. When a candle sale was made by a sales rep, the sales rep received 1/3 of every sale, 1/3 went to cover the cost of making the candle, and 1/3 was my profit.
Fundraisers were conducted the very same way: 1/3 of the sale went to the non-profit organization, 1/3 went to cover the cost of making the products, and 1/3 went to me as profit.
To view how hiring an independent sales rep for your business can help to increase your sales, please click on this link.
I hope this helps you when you price out your candles.
Happy Candle Making!