BUSINESS PLAN

2023

Candle Making
Business Plan
Illuminating Moments, Crafted by Light

 John Doe
 10200 Bolsa Ave, Westminster, CA, 92683
 (650) 359-3153
 [email protected]
 http://www.example.com

Information provided in this business plan is unique to this business and confidential;
therefore, anyone reading this plan agrees not to disclose any of the information in this
business plan without prior written permission of the company.
Table of Contents

Executive Summary 6

Market opportunity 7

Product Description 7

Management team 8
John Doe 8

Jane Doe 8

Alice Brown 8

Robert Brown 8

Financial Highlights 9
Units Sold v/s Revenue 9

Company Overview 10

Ownership 11
Business Owners 11

Mission statement 12

Business history 12

Future goals 12

Market Analysis 13

Target Market 14

Market size and growth potential 14

Market Size 15

Competitive analysis 15
Radiant Aromas Co. 15

LuminaCandles Inc. 16

NatureGlow Enterprises 16

Market trends 16

Regulatory environment 17

Candle Making Business Plan | Business Plan 2023 2/45

Products and Services 18

Products 19
Scented Candles 19

Decorative Candles 20

Taper Candles 20

Pillar Candles 21

Soy Candles 21

Shipping and Delivery 22

Emphasize safety and quality 22

Sales And Marketing Strategies 23

Unique Selling Proposition (USP) 24

Pricing Strategy 24

Marketing strategies 25
Online 25

Offline 25

Sales strategies 26

Customer retention 26

Operations Plan 27

Hiring Plan 28

Operational Process 28

Equipment and Raw Materials 29

Management Team 30

Key managers 31
John Doe 31

Jane Doe 32

Alice Brown 32

Robert Johnson 32

Organizational structure 33
Organization chart 33

Compensation plan 33

Candle Making Business Plan | Business Plan 2023 3/45

 Board of advisors 34
[ADVISOR NAME] 34

[ADVISOR NAME] 34

Financial Plan 35

Profit & loss statement 36

Cash flow statement 38

Balance sheet 39

Break-even Point 41

Financing needs 42

Appendix 43

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1.

Executive Summary

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 An executive summary is the first section of the business plan intended to
provide an overview of the whole business plan.

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Generally, it is written after the entire business plan is ready. Here are some
components to add to your summary.

 Help tip  • Introduction

Candle of yourPlan
Making Business business idea.
• A brief explanation of market opportunity.
Start your executive summary by introducing your idea behind starting a candle making
• An overview of your products and services.
business and explaining what it does.
• Brief about your core team.
To unlock help try Upmetrics! 
Give a brief overview of• how your candle
Financial business will be different.
highlights.
• Call to action.
Start writing here..

Market opportunity

 Help tip  Candle Making Business Plan

Describe the target market in brief, and explain the demographics, geographic location, and
psychographic attributes of your customer.

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Explain how your candle making business meets its needs. Clearly describe the market that
your business will serve.
Start writing here..

Product Description

 Help tip  Candle Making Business Plan

Briefly describe what products customers can expect from your business. Also, incorporate
brief information mentioning the quality measures you implement, keeping product quality and
consumer satisfaction in mind.
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Start writing here..

Candle Making Business Plan | Business Plan 2023 7/45

  Help tip

Name all the key members of your management team with their duties, responsibilities, and
qualifications.

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Management team

JOHN DOE
CEO - [email protected]

bringing over [10 years] of experience in the crafts industry and a passion for
sustainable products.

JANE DOE
Chief Marketing Officer - [email protected]

with a background in digital marketing and a keen understanding of consumer

behavior.

ALICE BROWN
Product Development Head - [email protected]

holding a degree in [aromatherapy] and [7 years] of experience in scented

product creation.

ROBERT BROWN
Operations Manager

streamlining processes with his [8 years] in logistics and operations

management.

Candle Making Business Plan | Business Plan 2023 8/45

Financial Highlights

 Help tip  Candle Making Business Plan

Provide a summary of your financial projections for the company’s initial years of operation.
Include any capital or investment requirements, startup costs, projected revenues, and profits.

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Start writing here..

Units Sold v/s Revenue

Units Sold Revenue

15.00k

10.00k

5.00k

0
Year 1 Year 2 Year 3

End of interactive chart.

Financial Year Units Sold Revenue

Year 1 1,550 $10,000

Year 2 1,800 $12,000

Year 3 2,050 $14,000

 Help tip  Candle Making Business Plan

After briefly explaining your business plan, end your summary with a call to action, inviting
potential investors or readers to the next meeting if they are interested in your business.

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Write a call to action for your business plan.

Candle Making Business Plan | Business Plan 2023 9/45

2.

Company Overview

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 Depending on what details of your business are essential, you’ll need
different elements in your business overview.

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Still, there are some foundational elements like business name, legal
structure, location, history, and mission statement that every business
overview should include.
 Help tip  Candle Making Business Plan

Provide all the basic information about your business in this section like:

• The name and type of your candle business: mention whether you are a homemade
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candle manufacturer, factory-produced manufacturer, organic candle-making business, or
any other candle manufacturing business.
Start writing here.. structure of your candle business, whether it is a sole proprietorship,
• Company
partnership firm, or something else.
• Location of your business and why you selected that place.
Ownership

 Help tip  Candle Making Business Plan

Describe the owners of your candle making business and mention their roles in running it. Who
owns what shares in the corporation, and how each owner helps in the business?

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Start writing here..

Business Owners

60% John Doe

30% Jane Doe

10% Alice Brown

Candle Making Business Plan | Business Plan 2023 11/45

Mission statement

 Help tip  Candle Making Business Plan

Add a mission statement that sums up your business objectives and core principles. This
statement needs to be memorable, clear, and brief.

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❛ At [Candle Creations], we ignite emotions. Our mission is to craft

candles that are more than just sources of light – they are
vessels of memories, relaxation, and warmth. With sustainability
at our core, every flicker embodies our commitment to the earth
and to unmatched quality.

❜
Business history

 Help tip  Candle Making Business Plan

Include an outline of your business’s history and how it came to be in its current position.

If you can, add some personality and intriguing details, especially if you got any achievements
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or recognitions till now for your incredible services.

Start writing here..

Future goals

 Help tip  Candle Making Business Plan

It’s crucial to convey your aspirations and your vision. Include the vision of where you see your
business in the near future and if you plan to expand your business overseas, to another state,
or another city.
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Start writing here..

Candle Making Business Plan | Business Plan 2023 12/45

3.

Market Analysis

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 Market analysis provides a clear understanding of the market in which your
printing business will run along with the target market, competitors, and
growth opportunities.
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Your market analysis should contain the following essential components:

 Help tip  • Target

Candle market.
Making Business Plan

• Market size and growth potential.

To write the introduction section of your market analysis, start by clearly identifying your
• Competitive analysis.
primary target market.
• Market trends.
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Mention specific industries or sectors
• Regulatory that your business aims to serve. Next,
environment. define your ideal
customer by listing the attributes they value most, such as quality, affordability, or
convenience.
Start writing here..

Finally, discuss the insights gained from your market research. Highlight the needs and
preferences of your potential clients, and explain how your products or services meet those
Target Market
specific demands.

This will set a strong foundation for the rest of your market analysis, demonstrating that you
 Help tip  Candle Making
have a clear understanding
Business Plan
of your target audience and their needs.

Identify your target market and define your ideal customer.

Know more about your ideal customer and what type of products they prefer: scented candles,
unscented candles, novelty candles, beeswax candles, tea light candles, To unlock help try Upmetrics! 
decorative candles,
and more.
Start writing here..

Market size and growth potential

 Help tip  Candle Making Business Plan

Provide an overview of the candle making industry. It will include market size, trends, growth
potential, and regulatory considerations.

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Highlight the competitive edge and how your business is different from the rest.

Start writing here..

Candle Making Business Plan | Business Plan 2023 14/45

Market Size

10M
Available Market
All individuals buying candles in the U.S.

Served Market
Those preferring artisanal, handcrafted
candles.
7M
Target Market
Aged 25-45, seeking sustainable &
premium scented candles.
2M

 Help tip  Candle Making Business Plan

Identify and analyze all other candle making businesses in the local market, including direct
and indirect competitors.

Evaluate their strengths and weaknesses, and explain how your businessTocan
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offer qualitative
services.
Competitive analysis

Radiant Aromas Co.

Established in [2010], Radiant Aromas Co. has been a household name, renowned for its vast range of
fragrances. From fresh florals to mystic woods, they've crafted scents for every mood.

Features Strengths Weaknesses

A monthly subscription box Broad fragrance portfolio Largely deploys synthetic
offering varied scents. catering to diverse preferences. fragrances which might not
appeal to the natural-centric
Eco-friendly packaging. Strong online presence with an
market.
engaging social media
Collaborations with celebrity
strategy. Higher price points due to
influencers for limited edition
celebrity collaborations,
scents. Loyalty programs lead to high
potentially alienating budget-
customer retention.
conscious customers.

Candle Making Business Plan | Business Plan 2023 15/45

LuminaCandles Inc.
A newer entrant, LuminaCandles Inc. began its journey in [2018]. They've quickly gained traction for
their innovative candle designs and interactive workshops.

Features Strengths Weaknesses

DIY candle-making kits for a Unique value proposition with Smaller scent range compared to
personalized experience. DIY kits attracting the creative older, established brands.
market segment.
Workshops conducted in Occasional quality
various cities on the art of Strong community engagement inconsistencies in the DIY kits, as
candle crafting. through workshops. reported by some users.

Limited edition 'Artisan Series' Quick adaptation to market Limited online distribution
featuring intricate designs. trends, ensuring they remain channels.
contemporary.

NatureGlow Enterprises
With a foundation rooted in sustainability, NatureGlow Enterprises, since [2015], has been
championing the cause of eco-friendly candles made from 100% natural ingredients.

Features Strengths Weaknesses

Candles crafted exclusively Appeals strongly to the Limited to only beeswax, missing
from beeswax and essential environmentally conscious out on the vegan market
oils. demographic. segment.

Packaging made from recycled Transparent ingredient list, Premium pricing due to eco-
materials. building trust among friendly materials.
consumers.
Partnerships with Slower production rate owing to
environmental NGOs, Positive brand image due to the commitment to handcrafted
dedicating a percentage of eco-initiatives and processes.
profits to green causes. partnerships.

Market trends

 Help tip  Candle Making Business Plan

Analyze current and emerging trends in your industry, such as technological changes or
customer preferences.

Explain how your business will cope with all the trends. For example, theTo unlock help try Upmetrics! 
candle business has a
seasonal market, so explain how you plan on dealing with that.
Start writing here..

Candle Making Business Plan | Business Plan 2023 16/45

Regulatory environment

 Help tip  Candle Making Business Plan

Describe any regulations or licensing requirements that affect candle making, such as business
& tax registration, candle labeling requirements, safety regulations, etc.

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Start writing here..

Candle Making Business Plan | Business Plan 2023 17/45

4.

Products and Services

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 The product and services section of a candle making business plan should
describe the specific services and products that will be offered to customers.
To write this section should include the following:
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• Introduce what you are gonna offer.

• List products/services with detailed descriptions.
 Help tip  Candle Making Business Plan
• Pricing structure.
• Product/service
To craft the introduction lifecycle.
for your "Products and Services" chapter, begin by positioning your
business within its industry, emphasizing
• Safety and qualityits unique strengths or value proposition.
assurance.
• Support and warranty.
Highlight not only the tangible products or services you offer but also theTooverarching
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benefits
or solutions they provide to customers. Mention any key resources or expertise that elevate
your
Start offerings,
writing here.. such as advanced technology or a dedicated team.

Conclude the introduction by signposting readers to the deeper exploration of your offerings in
the following sections. This approach ensures that readers understand the context,
 Help tip
significance, and scope of what your business brings to the table.

Create a list of the type of candles your candle business will offer, including scented,
decorative, taper, pillar, soy, etc.

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Products

Scented Candles
Price: [$15.99] each


Our scented candles are crafted to immerse spaces in
captivating fragrances.

Product Specifications

• Dimensions: 3 inches (width) x 4 inches (height)

• Weight: 300 grams

• Burn Time: Approx. 40 hours

• Fragrance Variants: Lavender, Vanilla, Rose, Jasmine,

and Sandalwood

• Wax Type: Paraffin and soy blend

• Packaging: Recyclable cardboard box with a ribbon tie

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 Decorative Candles
Price: [$24.99] each


Merging form and function, these candles are
masterpieces of design and illumination

Product Specifications

• Dimensions: Varies by design

• Weight: Varies by design

• Burn Time: Approx. 30 hours

• Designs: Floral, Geometric, Abstract

• Wax Type: Paraffin blend

• Packaging: Protective bubble wrap with a decorative

box

Taper Candles
Price: [$9.99] for a set of 2


Tall and slender, these candles exude grace and are
perfect for dinners and ceremonial events.

Product Specifications

• Dimensions: 1 inch (width) x 12 inches (height)

• Weight: 100 grams each

• Burn Time: Approx. 10 hours

• Colors: White, Cream, Red, Green, Blue

• Wax Type: Paraffin blend

• Packaging: Box set with a clear viewing window

Candle Making Business Plan | Business Plan 2023 20/45

 Pillar Candles
Price: [$19.99] each


These robust candles offer prolonged burn times and are
perfect standalone pieces or as part of candle
arrangements.

Product Specifications

• Dimensions: 4 inches (width) x 6 inches (height)

• Weight: 600 grams

• Burn Time: Approx. 60 hours

• Colours: White, Cream, Charcoal, Rustic Red

• Wax Type: Paraffin blend

• Packaging: Wrapped in branded parchment paper

with a sticker seal

Soy Candles
Price: [$17.99] eac


Made from 100% soy wax, these eco-friendly candles
offer a cleaner burn and are a testament to our
commitment to sustainability.

Product Specifications

• Dimensions: 3 inches (width) x 3 inches (height)

• Weight: 250 grams

• Burn Time: Approx. 45 hours

• Fragrance Variants: Unscented, Lemongrass, Mint,

Eucalyptus

• Wax Type: 100% Soy

• Packaging: Recyclable tin container with a branded

label

Candle Making Business Plan | Business Plan 2023 21/45

Shipping and Delivery

 Help tip  Candle Making Business Plan

Explain how your business will handle the shipping of your products and if you will charge any
additional fee for these services.

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Emphasize safety and quality

 Help tip  Candle Making Business Plan

In all descriptions of your products, emphasize the importance of product quality and how your
candle making company will ensure it.

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Start writing here..

Candle Making Business Plan | Business Plan 2023 22/45

5.
Sales And Marketing
Strategies

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 Writing the sales and marketing strategies section means a list of strategies
you will use to attract and retain your clients.

Here are some key points to include in your marketing To unlock help try Upmetrics! 
plan:

• Define a unique selling proposition (USP).

 Help tip  • Explain

Candle pricing
Making strategy.
Business Plan

• Marketing strategies.
To create an effective introduction for your "Sales and Marketing Strategies" chapter, start by
• Sales strategies.
setting the stage within your specific industry or market.
• Customer retention.
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Emphasize the competitive nature of your field and the importance of both quality services and
strategic marketing in this context.

Clearly state the objectives of your sales and marketing strategies, which should include
Unique Selling
maximizing Proposition
outreach, (USP)and achieving sustained growth.
fostering engagement,

Additionally, mention the specific techniques or approaches you will employ, whether traditional
or modern, to establish your brand as the preferred choice for your target audience. This
 Help tip  Candle Making Business Plan
introduction provides a clear overview and prepares readers for the detailed strategies that
follow.
Clearly define your business’s unique selling propositions, which can be your expertise in the
market, customizations you offer, prime project locations, and so on.

Determine what sets your business apart from the competition and whatTobenefits
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your target
market.
Start writing here..

Pricing Strategy

 Help tip  Candle Making Business Plan

Develop a pricing strategy that is competitive and affordable yet profitable. Consider offering
promotions, discounts, or packages for your candle making services to attract new customers.

To unlock help try Upmetrics! 

Start writing here..

Candle Making Business Plan | Business Plan 2023 24/45

  Help tip  Candle Making Business Plan

Develop a marketing strategy that includes a mix of online and offline marketing tactics.
Consider social media, email marketing, content marketing, brochures, print marketing, and
events.
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Marketing strategies

Online

Social Media Email Marketing

 Platforms like Instagram and

Pinterest, showcasing our candles
 Newsletters detailing new
launches, exclusive discounts, and
in aesthetic setups and behind-the- candle care tips.
scenes craftsmanship.

Content Marketing

 Blog posts on the art of candle-

making, the benefits of different
waxes, and more.

Offline

Brochures Events

 High-quality print materials

detailing our product range,
 Workshops on candle crafting and
scent blending, fostering
available at our store and partner community and brand
outlets. engagement.

Candle Making Business Plan | Business Plan 2023 25/45

  Help tip  Candle Making Business Plan

Mention your sales strategy as in – offering competitive pricing, seasonal discounts, product
customizations, attending trade shows and events, etc.

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Sales strategies

Competitive Pricing Seasonal Discounts

 While ensuring profitability, our

prices resonate with the value we
 Catering to peak buying seasons,
ensuring increased sales volume.
offer.

Product Customizations Trade Shows & Events

 Addressing unique customer

needs, from scent blends to candle
 Presence in major craft and
lifestyle exhibitions, introducing
shapes. our brand to wider audiences.

 Help tip  Candle Making Business Plan

Describe how your business will retain customers and build loyalty, through loyalty programs,
by offering free samples or personalized service.

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Customer retention

Loyalty Programs Free Samples

 Points-based systems, where

accumulated points can be
 Introducing customers to new
fragrances through complimentary
redeemed on future purchases mini-candles with sizeable
purchases.

Personalized Service

 Offering consultations on custom

blends and personalized candle
engravings for special occasions.

Candle Making Business Plan | Business Plan 2023 26/45

6.

Operations Plan

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 When writing the operations plan section, it’s important to consider the
various aspects of your business operations.

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Here are the components to include in an operations plan:

• Describe the operational process.

 Help tip  Candle Makingyour
• Describe Business Plan
supply chain.
• Customer satisfaction.
To create an effective introduction for your "Operational Plan" chapter, start by emphasizing the
pivotal role of efficient •operations
Equipmentin&the
Machinery.
success of your business, underscoring how they
directly impact the quality of services delivered.
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Make it clear that operational excellence is crucial for fulfilling your commitments to customers
and
Start ensuring
writing optimal outcomes.
here..

Then, briefly outline what readers can expect in this chapter, mentioning key areas you'll cover
such as staffing, operational processes, and facilities.
Hiring Plan
This introduction sets the stage by highlighting the significance of operational planning and
piques the reader's interest in the detailed insights to come.
 Help tip  Candle Making Business Plan

Tell the staffing requirements of your candle making business, including the number of
employees needed, their qualifications, and the duties they will perform.

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Also, mention the perks you will provide to your employees.

Start writing here..

Operational Process

 Help tip  Candle Making Business Plan

Outline the processes and procedures you will use to run your business. It includes
manufacturing, inventory management, distribution, Quality Control, etc.

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Start writing here..

Candle Making Business Plan | Business Plan 2023 28/45

Equipment and Raw Materials

 Help tip  Candle Making Business Plan

Describe the equipment and raw materials used in your business operations, such as pouring
pots, molds, wick holders, stirring tools, scales, wax, labels, packaging materials, etc.

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Start writing here..

Candle Making Business Plan | Business Plan 2023 29/45

7.

Management Team

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 The management team section provides an overview of the individuals
responsible for running your business plan.

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This section should provide a detailed description of the experience and
qualifications of each manager, as well as their responsibilities and roles.

 Help tip  • Describe

Candle Makingthe role and
Business responsibilities of the Founders/CEO.
Plan

• List the core team.

To craft an introduction for your "Management Team" chapter, begin by emphasizing the crucial
• Describe organizational structure.
role of leadership in the success of any business.
• Compensation plan.
Highlight your company's commitment
• List to having a strong and dedicatedTo
Advisors/Consultants.
unlock help try Upmetrics! 
management team.
Showcase the diversity and expertise of your team members, illustrating how their varied
backgrounds
Start writing here..contribute to the overall strength of your organization.

Conclude by emphasizing the team's experience and how it positions your program as a leader
in your industry.
Key managers
This introduction will set the stage for readers to understand the significance and capabilities
of your management team, creating a positive impression as they delve into the details of each
 Help tip  and
team member's role
Candle Making Business Plan
contributions in the subsequent sections.

Describe your management team’s key members, roles, and responsibilities.

It should include the owners, senior management, sales and marketing managers, packaging
To unlock help try Upmetrics! 
and shipping managers, QC inspectors, and people involved in the business operations,
including their education, professional background, and any relevant experience in the candle
making
Start writingindustry.
here..

JOHN DOE
CEO & Founder - [email protected]

John's entrepreneurial spirit combined with his dedication to craftsmanship led

to the establishment of Candle Creations.

Holding a Master's in Business Administration from Harvard University, he

ventured into the artisanal world of candle-making after a successful stint at a
leading management consultancy firm.

His passion for sustainable and handcrafted goods positions the company at
the forefront of the industry.

• Educational Background: MBA, Harvard University

• Professional Background: Senior Consultant at EliteManagement Corp for
5 years

Candle Making Business Plan | Business Plan 2023 31/45

 JANE DOE
Sales & Marketing Manager - [email protected]

With a flair for understanding market dynamics and consumer behavior, Jane is
the force behind Candle Creations' branding and outreach initiatives.

A Marketing graduate from Stanford University, she spent her initial years
mastering the art of brand storytelling at Lumina Aromas, a renowned candle
company.

• Educational Background: BSc in Marketing, Stanford University

• Professional Background: Brand Strategist at Lumina Aromas for 4 years

ALICE BROWN
Packaging & Shipping Manager - [email protected]

Ensuring that every meticulously crafted candle reaches its owner in pristine
condition is Alice's primary mission.

With a degree in Supply Chain Management from MIT, she's optimized the
logistics and distribution channels of Candle Creations, making it a benchmark
for competitors.

• Educational Background: MSc in Supply Chain Management, MIT

• Professional Background: Logistics Manager at FastTrack Couriers for 6
years

ROBERT JOHNSON
Quality Control Inspector - [email protected]

Robert's keen eye ensures that every candle not only looks perfect but also
burns with consistency.

An alumnus of UCLA with a degree in Chemical Engineering, he understands the

nuances of wax compositions and fragrance diffusions. His tenure at
Aromatique Candles enriched him with hands-on experience in quality
assurance.

• Educational Background: B.Tech in Chemical Engineering, UCLA

• Professional Background: Quality Assurance Lead at Aromatique Candles
for 3 years

Candle Making Business Plan | Business Plan 2023 32/45

Organizational structure

 Help tip  Candle Making Business Plan

Describe the organizational structure of the management team, including reporting lines and
how decisions will be made.

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Start writing here..

Organization chart

John Doe
CEO

Alice Brown Jane Doe

Packaging & Shipping Manager Sales and Marketing Manager

Lily Turner Robert Johnson

Operations Manager Quality Control Inspector

End of interactive chart.

Compensation plan

 Help tip  Candle Making Business Plan

Describe your compensation plan for the management team and staff, including salaries,
bonuses, and other benefits.

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Start writing here..

Candle Making Business Plan | Business Plan 2023 33/45

  Help tip

If you have a board of advisors for your business, then mention them along with their roles and
experience.

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Board of advisors

[ADVISOR NAME]
Advisor

Former CEO of [Company Name, e.g., "Aromatique Candles"], [Advisor Name]'s

insights into the industry are invaluable. With [X years] in the candle-making
sector, [he/she] advises us on strategic expansion and partnerships.

[ADVISOR NAME]
Consultant

With a rich background in sustainability and eco-conscious ventures, [Advisor

Name] helps align our operations with green initiatives, ensuring we remain
environmentally responsible.

Candle Making Business Plan | Business Plan 2023 34/45

8.

Financial Plan

Candle Making Business Plan | Business Plan 2023 35/45

 When writing the financial plan section of a business plan, it’s important to
provide a comprehensive overview of your financial projections for the first
few years of your business, You may provide the following:
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• Introduction.
• Add startup costs (for new businesses).
 Help tip  Candle Making Business Plan
• Profit & loss statement.
• Cash Flow for
To create an effective introduction Statement.
your "Financial Plan" chapter, begin by stressing the
critical role of a well-structured
• Balancefinancial
sheet. plan in the success of your venture.
• Break-even analysis.
Emphasize how this plan serves as the foundation for sustainability and To unlock help try Upmetrics! 
profitability while
• Sales forecast.
keeping your services affordable and accessible.
Start writing here.. • Financing needs.
Mention that the upcoming section will provide detailed insights into your projected financial
statements, outlining revenue streams, expenses, and the strategic path to financial stability.

 Help tip
This introduction will help your readers understand the significance of the financial plan and its
alignment with your mission and goals, setting the stage for a deeper exploration of your
Create a projected
financial strategy. profit & loss statement that describes the expected revenue, cost of
products sold, and operational costs. Your business’s anticipated net profit or loss should be
computed and included.
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Profit & loss statement

2023-24 2024-25 2025-26 2026-27 2027-28

Revenue $0 $0 $0 $0 $0

Cost Of Sales $0 $0 $0 $0 $0

General Costs $0 $0 $0 $0 $0

Revenue Specific Costs $0 $0 $0 $0 $0

Personnel Costs (Direct

$0 $0 $0 $0 $0
Labor)

Gross Margin $0 $0 $0 $0 $0

Gross Margin (%) 0% 0% 0% 0% 0%

Candle Making Business Plan | Business Plan 2023 36/45

 2023-24 2024-25 2025-26 2026-27 2027-28

Operating Expense $0 $0 $0 $0 $0

Payroll Expense
$0 $0 $0 $0 $0
(Indirect Labor)

General Expense $0 $0 $0 $0 $0

Bad Debt $0 $0 $0 $0 $0

Amortization of Current
$0 $0 $0 $0 $0
Assets

EBITDA $0 $0 $0 $0 $0

Additional Expense $0 $0 $0 $0 $0

Long Term
$0 $0 $0 $0 $0
Depreciation

Gain or loss from Sale

$0 $0 $0 $0 $0
of Assets

EBIT $0 $0 $0 $0 $0

Interest Expenses $0 $0 $0 $0 $0

EBT $0 $0 $0 $0 $0

Income Tax Expense $0 $0 $0 $0 $0

Total Expense $0 $0 $0 $0 $0

Net Income $0 $0 $0 $0 $0

Net Income (%) 0% 0% 0% 0% 0%

Retained Earning
$0 $0 $0 $0 $0
Opening

Owner's Distribution $0 $0 $0 $0 $0

Candle Making Business Plan | Business Plan 2023 37/45

 2023-24 2024-25 2025-26 2026-27 2027-28

Retained Earning
$0 $0 $0 $0 $0
Closing

 Help tip

Estimate your cash inflows and outflows for the first few years of operation. It should include
client cash receipts, vendor payments, loan payments, and other cash inflows and outflows.

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Cash flow statement

2023-24 2024-25 2025-26 2026-27 2027-28

Cash Received $0 $0 $0 $0 $0

Cash Paid $0 $0 $0 $0 $0

COS & General Expenses $0 $0 $0 $0 $0

Salary & Wages $0 $0 $0 $0 $0

Interest $0 $0 $0 $0 $0

Sales Tax $0 $0 $0 $0 $0

Income Tax $0 $0 $0 $0 $0

Net Cash From

$0 $0 $0 $0 $0
Operations

Assets Sell $0 $0 $0 $0 $0

Assets Purchase $0 $0 $0 $0 $0

Net Cash From

$0 $0 $0 $0 $0
Investments

Amount Received $0 $0 $0 $0 $0

Loan Received $0 $0 $0 $0 $0

Candle Making Business Plan | Business Plan 2023 38/45

 2023-24 2024-25 2025-26 2026-27 2027-28

Common Stock

Preferred Stock $0 $0 $0 $0 $0

Owner's Contribution $0 $0 $0 $0 $0

Amount Paid $0 $0 $0 $0 $0

Loan Capital $0 $0 $0 $0 $0

Dividends & Distributions $0 $0 $0 $0 $0

Net Cash From

$0 $0 $0 $0 $0
Financing

Summary

Starting Cash $0 $0 $0 $0 $0

Cash In $0 $0 $0 $0 $0

Cash Out $0 $0 $0 $0 $0

Change in Cash $0 $0 $0 $0 $0

Ending Cash $0 $0 $0 $0 $0

 Help tip

Prepare a projected balance sheet, which shows the business’s assets, liabilities, and equity.

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Balance sheet

2023-24 2024-25 2025-26 2026-27 2027-28

Assets $0 $0 $0 $0 $0

Current Assets $0 $0 $0 $0 $0

Cash $0 $0 $0 $0 $0

Candle Making Business Plan | Business Plan 2023 39/45

 2023-24 2024-25 2025-26 2026-27 2027-28

Accounts Receivable $0 $0 $0 $0 $0

Inventory $0 $0 $0 $0 $0

Other Current Assets $0 $0 $0 $0 $0

Long Term Assets $0 $0 $0 $0 $0

Gross Long Term Assets $0 $0 $0 $0 $0

Accumulated Depreciation $0 $0 $0 $0 $0

Liabilities & Equity $0 $0 $0 $0 $0

Liabilities $0 $0 $0 $0 $0

Current Liabilities $0 $0 $0 $0 $0

Accounts Payable $0 $0 $0 $0 $0

Income Tax Payable $0 $0 $0 $0 $0

Sales Tax Payable $0 $0 $0 $0 $0

Short Term Debt $0 $0 $0 $0 $0

Long Term Liabilities $0 $0 $0 $0 $0

Long Term Debt $0 $0 $0 $0 $0

Equity $0 $0 $0 $0 $0

Paid-in Capital $0 $0 $0 $0 $0

Common Stock $0 $0 $0 $0 $0

Preferred Stock $0 $0 $0 $0 $0

Owner's Contribution $0 $0 $0 $0 $0

Retained Earnings $0 $0 $0 $0 $0

Check $0 $0 $0 $0 $0

Candle Making Business Plan | Business Plan 2023 40/45

  Help tip  Candle Making Business Plan

Determine how your candle-making business will break even or generate enough revenue to
cover its operating costs.

This will help you understand how much revenue you need to generate toTomake
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a profit.

Break-even Point

2023-24 2024-25 2025-26 2026-27 2027-28

Starting Revenue $0 $0 $0 $0 $0

Net Revenue $0 $0 $0 $0 $0

Closing Revenue $0 $0 $0 $0 $0

Starting Expense $0 $0 $0 $0 $0

Net Expense $0 $0 $0 $0 $0

Closing Expense $0 $0 $0 $0 $0

Is Break Even? 0 0 0 0 0

Break Even Month 0 0 0 0 0

Days Required 0 0 0 0 0

Break Even Revenue $0 $0 $0 $0 $0

Break Even Units

Candle Making Business Plan | Business Plan 2023 41/45

Financing needs

 Help tip  Candle Making Business Plan

Estimate how much financing you will need to start and operate your candle making business.
It should include short-term and long-term financing needs, such as loans or investment
capital.
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Start writing here..

Candle Making Business Plan | Business Plan 2023 42/45

9.

Appendix

Candle Making Business Plan | Business Plan 2023 43/45

 When writing the appendix section, you should include any additional
information that supports the main content of your plan. This may include
financial statements, market research data, legal documents, and other
To unlock help try Upmetrics! 
relevant information.

• Include a table of contents for the appendix section to make it easy for
readers to find specific information.
• Include financial statements such as income statements, balance
sheets, and cash flow statements. These should be up-to-date and
show your financial projections for at least the first three years of your
business.
• Provide market research data, such as statistics on the size of the
printing industry, consumer demographics, and trends in the industry.
• Include any legal documents such as permits, licenses, and contracts.
• Provide any additional documentation related to your business plans,
such as marketing materials, product brochures, and operational
procedures.
• Use clear headings and labels for each section of the appendix so that
readers can easily find the information they need.

Remember, the appendix section of your business plan should only include
relevant and important information that supports the main content of your
plan.

Candle Making Business Plan | Business Plan 2023 44/45

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