Investments for candlestick trading
If you are thinking of trading candles, then you do not need to worry much. Because you can start your work by investing up to ₹ 1 lakh in it. As your demand in the markets increases, you can expand your work accordingly. You can expand your work further with the same money that you have received in profit.
Experience for candle trading
For candle business, it is very important to have all kinds of information about candles. If you do not have information about candles, then you will not be able to do this business well. First of all, get complete information about how many types of candles are there in the market? From which wholesale market candles are bought? From where machines, raw materials, etc. are bought for this. You will get this information well from the candle factory.
You will have to inspect all the big candle wholesalers, retail israel whatsapp data shopkeepers or factory manufacturers. You will have to see how much demand there is for candles in the market. You must have all these kinds of information before starting the candle business.
Whenever we start a new business, we decide our budget for it. We have to plan in advance how much we have to invest in what. Similarly, to start a candle business, we have to make a financial plan format. In it, it has to be decided how you want to start the candle business.
If you want to start on a small scale, then you do not need much investment for it. It can be started with only 50 thousand to 1 lakh. Apart from this, if you want to set up a factory on a large scale, then you may need a loan for it and have to buy very big things.
Packing, marketing, sales, purchase, a format has to be prepared for all these things and your budget has to be decided as well. So that you do not face any problem regarding your money in future and your business can be started very well.
Buying raw materials for candle making business
When we do any business on a large scale, first of all we need raw material for it. It is better to buy raw material for candles from the wholesale market. You get this material at different prices in the markets.
The raw materials required are paraffin wax, castor oil, threads for candles, different types of colours, thermometers, scents for fragrance, oven etc. All these are available in the market as per standard units. Among these items, the most expensive is the oven, which costs around 5 to 7 thousand rupees.