How To Price Candles (Secret Formula)
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- Опубліковано 15 лип 2024
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Learn the secret formula for how to price candles in this video! Paul from the Home Fragrance Academy shares the exact steps to maximize profitability in your candle business. Don't miss out on this valuable knowledge - subscribe for more tips on scaling your home fragrance business!
This is the ultimate easy to follow formula. Give it a go and rest assured that your products are correctly priced 😊
@@cosyaromas ❤️
It would also be nice to see you delve into social media marketing vs email marketing, highlighting the pros and cons to both and how they can work together and then have a follow up video with examples or case studies on each strategy
@@Scxbah Thank you for watching. With social media marketing and email marketing, there isn’t a pros and cons of each. You should be doing both without a doubt. But I do have content lined up which covers these in more detail.
This is an easy to follow formula that we used throughout our home fragrance brands.
Save this video for later, refer back to it and learn the formula to help you price your products.
@@TamarMayneHFA ❤️
Hey, I'm starting my candle journey. I'm trusting God to make this happen. I've been watching you for a while now, and you have been very inspiring. I have a question: How did you gain so many subscribers. I'm finding this part of the process quite difficult. Any tips?
Hi there, thank you for watching. When you say 'subscribers' what are you referring to, subscribers to what?? Let me know and I'll share some details :)
@homefragranceacademy
Hi there, thanks for responding. I'm really referring to gaining more subscribers on UA-cam to help grow my channel. I am finding this process very disheartened 😔 how did you grow your channel?
@@Unearthedcandleco Oh I see. It's really just a case of creating content which people want to watch, and is either useful to them or entertaining. It takes a long time and consistency is key. We haven't really put much effort into this channel as of yet, but are planning to create lots more content.
Do you think you could make a video on trademarking? For example I want to trademark the brand name, logo, slogan, and a future product name in 2 classes but I'm unsure whether that should be the standard trademark application or if I'd be better doing a series application
@@Scxbah Yes, I can talk about this. I also cover trademarks in our ‘Business Roadmap’ course which may interest you :)
It's the time segment that I fall down on. I'm making in small amounts but I'm expected now to make minimum wage for myself. I. Can't see that happening. Also when you add up your costs do you factor in energy, insurance, moulds etc? I've always priced individual as I know exactly to the gram his much is used and I divide costs like insurance up but this will never work for wholesale. I'm totally lost now. Any insight would be fabulous. Thank you.
Hi Debs,
Costs such as energy, insurance etc are all 'overheads' and therefore shouldn't be calculated into the price of your products. If you follow the pricing formula in this video then there is plenty of profit to account for the overheads.
But, you do need to include your time, as that is a key factor into the profitability of your products. Just work out how many items you can make in an hour, then decide on how much you want to make in an hour, divide the 2 and that's the amount it costs you in time to make the product.
Don't worry about what other people are charging too much, because if you are focussing on a niche (which is what we talk about a lot), then pricing isn't too much of an issue (within reason of course).