Candle Pricing, Costs & Scaling Your Business (5 Small Business Tips in 5 Days) | Black Tie Barn
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- Опубліковано 24 сер 2024
- Let's talk costs, pricing, and scaling your small business. This applies to fellow candle makers and candles businesses as well as others. This Day 2, Tip 2 in this video series "5 Business Tips in 5 Days". Be sure to check out the resources below and sign up for the newsletter.
Video 1/5: • Candle Business Secret...
RESOURCES
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💡 Email Newsletter (candle making tips, resources, new content, etc.) 💡
blacktiebarnwo...
🧧 Inventory, Recipe, Expense, and Order Tracking 🧧
CraftyBase (Inventory, Recipe, Expense, and Order Tracking): craftybase.com...
CraftyBase Overview video: • MY INVENTORY SYSTEM fo...
Canva: partner.canva....
🎬 Check Out These Videos 🎬
Scent is King: • So You Want Better Str...
Candle Testing: • Candle Testing & Wick ...
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SUPPLIES & EQUIPMENT
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🕯️ Candle Making 🕯️
Village Candle Supply (CA and USA): villagecraftan...
Wick Holders and Clips:nordencandlesu...?sca_ref=1972485.DlZFh8FQu5
Custom Labels, Stickers, and Tape: www.stickermul...
Thermometer 1: amzn.to/2ZrkvuD
Thermometer 2: amzn.to/3qyg6lt
Thermometer 3: amzn.to/2OJocJX
Thermometer 4: amzn.to/3pyel6B
Respirator Mask: amzn.to/3reMwCw
Color Wheel (for mixing dyes): amzn.to/3pdrUcj
Wooden Stirring Spoons: amzn.to/39mUumz
Plastic Stirring Spoons: amzn.to/2VcsYQk
Infrared Thermometer: amzn.to/3q93rG4
Heat Gun (Variable temp settings): amzn.to/2JjvDoz
Economical Scale: amzn.to/33oLWYs
Economical Scale: amzn.to/36cDcGI
Economical Scale: amzn.to/33pxSxJ
Presto Melter with spout: amzn.to/3DEfFj3 & amzn.to/3S5qEpW
Pouring Pitcher: amzn.to/37lK4ky
Wick Trimmer: amzn.to/3fKG7cP
Wood Wick Trimmer: amzn.to/3kBVOr4
Paper Plates (9”) for color testing/pitcher trivet: amzn.to/2Je8lRe
Paper Plated (6”) for color testing: amzn.to/39osi2y
Glass Measuring Cup (my favorite): amzn.to/37hxL8C
Glass Measuring Cup Set: amzn.to/36ft8wM
Glass Measuring Cup: amzn.to/39lWf3b
Pipettes: amzn.to/2JfOn8S
Wick Setter: www.candlescie...
💰📦 BUSINESS, PACKING & SHIPPING SUPPLIES I USE 📦💰
Shipping Label Printer (Rollo): amzn.to/3b8Lqlk
Shipping Label Pack (Rollo): amzn.to/3xhmKzW
Shipping Label Roll Holder (Rollo): amzn.to/2Ts33qF
Tape Gun: amzn.to/3dYUycW
Packing/Shipping Tape: amzn.to/3u7Mb5Z
Packing Peanuts (Environmental Friendly): amzn.to/2OJoUqB
White Shipping Box - Pack of 50, 6 x 4 x 3: amzn.to/3agrmxr
White Shipping Box - Pack of 25, 6 x 4 x 4: amzn.to/2MN7okV
Aviditi White Mailing Boxes - Pack of 50, 5.5 x 3 1/2 x 3 1/2: amzn.to/3d4Dbs0
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#smallbusiness #candlebusiness #blacktiebarn
Video 1 in the series here: ua-cam.com/video/T0e3GJ5KWNk/v-deo.html
Love your videos. They have been a big help to me so far. Can you offer some advice on something? I am currently working on calculating the cost to make each candle in my product line. I am having a tough time figuring out how to apply shipping costs to the items I buy in order to accurately calculate my cost. For example, I will buy candle jars and other items such as wicks and some fragrance oils. The total shipping cost will be X amount of dollars but I know most of it is from the jars. Then when I buy the jars again, I might be different items with it and the shipping cost will be different. It is easy to determine the cost of each item - 100 wicks for $10 is $0.10/wick. But I am struggling on how to factor in shipping costs for when I buy multiple items. Any help is much appreciated. Thank you.
@@quinncandlecompany6608 There is no simple or hard set rule to handle this. Most do it in one of two ways: 1) Easiest - its just based of percentage of the costs of the materials. So if you spent $100 and $50 was wax, $30 as jars, $20 was fragrance, and $10 was wicks. Then the shipping costs is allocated the same way. 50% of the shipping cost would go towards the wax, 30% towrds the jars and so on. This is the most standard and common. Good news it.... in Craftybase, it does it automatically for you. 2) Harder - you can do it the same weight as above but ratehr than percentage of cost, it is done by the percentage of weight of each item type in the order. As you can imagine, that is tougher to figure out so is not near as common.
@@BlackTieBarn I am actually using Crafty Base. I have most of my information setup in there. All I have left is to input my manufacturing cost for each item. I did not see where it does it for you. Unless I missed it? When I select to edit each product, there is a section for me to manually input the cost to make that item. Am I missing something? I can imagine you are busy so I appreciate your help.
@@quinncandlecompany6608 no worries. Its sort of hard to explain or show through here. But, when you enter an expense and add all your items, at the bottom there is a field for "shipping charges". Craftybase will allocate the shipping sharges accoridngly to each item that is part of that expense. The easy way to see it working is to then go to that items page. You will see the cost of that item (to you) is higher than the item cost when you purchases it. The reason is because shipping was added to it. Which is how it should be done. Let me know if that helps. If you are adding manually, that is tricker and you wil have to manually updated the items cost to account for shipping. this is why I do everything through expenses when possible
@@BlackTieBarn Ok this makes sense and seems like a nice way to do it. I guess my question is about inputting my starting costs for each item. Do I have to manually input the starting cost and then after that, use the expense method? As of right now, I have not inputted any expenses in craftybase. Or what if I input the most recent purchase for each item in the expense tab, will that automatically input my starting cost for each item?
Great video. Looking forward to the rest. You’re the Guru of candle making. I watched others before I found you and you are hands down the BEST! THANK YOU ❤️
Appreciate the kind words. We all trying for sure. :)
Your confidence in your craft is very reassuring 😊
Edit: meaning…gonna keep watching ALL your vids🤗
🤣 thank you!
You should really consider having a course you sell. I am looking to start my own candle making business and each video has so much value, thank you!
It's in the plans!. :) thanks tony
Great content! Can’t wait for the next vid in the series. ☺️
Thanks!
So much useful info in this video…as always! The new editing animations are 🔥🔥🔥! Video looking sharp Wade! Way to go!
Loving these business type videos. Thank you! Would love to see you speak on when your business does both wholesale and retail and how you handle when you want to have a sale on your website or consignment store but your wholesalers aren't happy about it. How do you handle that?
Ty. And good point, maybe van work that into a video for others. But, you can run a sale on your own products anytime. Just don't do it constantly. Lol
Thankyou Wade this video was very helpful
I have got to invest in Craftybase! Thanks always for your wonderful videos!
❤️❤️
Hey Wade! Ive been subscribed to you on another account without realizing so just subscribed on my actual. Love the content, im just wondering if you had insight on a correct wood wick flame size? im doing my testing with 3 different sizes and i think the middle one(0.5") is what i like in terms of melt pool and output but the flame is smaller. Versus the bigger .625 wick which burns big but bobs and dances. Is that a noticeable thing or am i overthinking it and critiquing myself on things only i will care about?
tyvm
❤️
Dia #2 🎉🎉🎉🎉🎉
❤️👍
Great idea for a video series. But where are videos 3, 4 & 5? Lol
They are all there. 5 in a row. :)
Hey Wade, I have an off the wall question if you dont mind me asking... the word HANDCRAFTED on your shirt is in a really clean looking font that I see people using a lot but I can't seem to figure out what it is. If its not a trade secret I would love to know what it is. I didn't get the memo when they were passing out font names lol. Thanks!
What was that machine he was using to fill the candel jars?
ua-cam.com/video/8NOexhPySss/v-deo.html
Excel
Wade… ya got spammed
What you mean? Lol
I reported them all!
Oh, yes... I get them on every video after they post. I usually catch them super quick and remove them. Thanks for looking out. :)
@@BlackTieBarn you know you’ve made it when spam shows up😂