Price Of Scents Affects The Price Of Candles And DiscountsContemporary Candles
One of the most challenging aspects of candle business is to price your products correctly. High prices will result in low sales while low prices will mean low profits. Testing and experimentation are the key factors upon which you can decide the prices of candles. Cost of main raw material like wax, scents and essential oils besides others have to be kept in mind before you set a price tag on your candle. Pricing usually depends upon two factors, the cost of the raw materials and the target market. It is essential to know the prices of supplies and equipment and after evaluating the overhead costs you can grow your business and make profits. Concentrate on producing quality candles after studying the expenses and prices instead of trying to compete with your competitors.
The prices of scents certainly affect the price of candles as some scents are more expensive than others. Vanilla and cinnamon are supposedly warm scents as opposed to peppermint that is said to be a cool scent. Certain scents are said to create an emotional connect with consumers like green tea and lemon grass or fig and white tea.
How Much Scent Is Used To Make A Candle?
Candle making is all about controlling costs of wax, colors and scents. The amount of ingredients you require depends on the size of the candle. The amount of scent used while making a candle depends on your personal preferences and the type of wax you are using. There are hundreds of scents available with a large variation in the prices. The ideal ratio is an ounce of scent to one pound of wax. But what really decides the amount of fragrance is the type of wax you are using, the size of the candle, the type of scent you are using and how strong do you prefer. In case you need a stronger scent you need to add a little more quantity of scent thus increasing the cost of the candle.
Pricing & Discounts
You can get fragrance oil listings from stores and then calculate the rate according to the amount you add to a candle. Extensive listings of scents are available like vanilla, cherry, apple cinnamon, citrus splash, cucumber melon, country spice and so on as the list is endless. Liquid candle scents begin from $8.10 per pound and keep increasing with particular brands of scents.
By adding the fixed and variable costs you will be able to calculate the total cost which will help you to fix the price of your candles if you want to make a profit. A traditional way of pricing is to fix a price that is 3 -4 times the cost for retail sales and 2 times the cost for wholesale orders. Another way is to fix the price with a marginal profit percentage. Ensure that you adjust your prices according to discounts you offer. Do not underprice your candles believing in their quality completely.