Candle making is a lucrative business that requires careful planning and execution

One of the most critical aspects of running this type of venture is setting up an effective pricing structure.

According to industry experts, your candle prices should be based on several factors such as target market, budget allocation, and brand marketing strategy. For instance, if you are just starting out in the mass market segment for candles or trying to establish your brand identity within the industry; it may be wise initially to offer lower-priced products while building credibility with customers.

A recommended price range for basic scented candles would typically fall between $10-$18 depending on materials used. It’s important not to overprice without having established trust among potential buyers since competition can be fierce in this sector.

To gain traction early-on consider offering competitive promotions like two-for-one deals during launch month or discounts when referred by friends which could result in some initial losses but will ultimately pay off long-term through increased exposure and customer loyalty-building efforts.

For more information about how best practices around establishing successful pricing structures contact us below