kristilkleer Posted December 3, 2006 Share Posted December 3, 2006 I'm only posting this thread because I looked on Scents by Elina's website and noticed she was only charging $8.00 for a 16 oz. candle. I pretty much want to start selling early next year and was trying to figure out pricing. After breaking down my pricing this is what I came up with. For one candle it will cost me about $5.57 to make. Now that's not buying in huge bulk which I know I could get a deeper discount but I have to start off small. I may have also erred on the high side but I think it's pretty accurate. Does this sound about right to you guys? Am I missing something? Quote Link to comment Share on other sites More sharing options...
Sherie Posted December 3, 2006 Share Posted December 3, 2006 No, that doesn't sound right at all. Quote Link to comment Share on other sites More sharing options...
The_Dallas_Texas_Dean Posted December 3, 2006 Share Posted December 3, 2006 What containers are you using for your candle? Maybe if you post a breakdown of your costs, it will be easier to see if everything is in line with approx what it should be. Quote Link to comment Share on other sites More sharing options...
Michi Posted December 3, 2006 Share Posted December 3, 2006 That could be correct, depending on how much your supplies cost, afterall you say you're not buying in bulk, so you're probably paying more for everything that way.$8 for a 16oz. candle is just INSANELY low IMO, that's almost wholesale for mine.Whatever you do, do not base your prices on what others are pricing theirs at, and do NOT undersell yourself, you are making a handmade product that should ultimately be way better than a mass manufactured product, and should be priced accordingly.If you want to PM with your supplies costs and amounts used I can help you out, but if you've done that and rechecked it, it's most likely correct. Quote Link to comment Share on other sites More sharing options...
sockmonkey Posted December 3, 2006 Share Posted December 3, 2006 I've posted before that I think there's a danger in pricing your items the same way everyone else does. It's good to review and be aware of what others are charging, but you need to take into account what YOUR market will bear.If you are selling at a craft show, you might totally sell out of $8 candles because it's such a low price. But then again, you might do just as well if you sold them for $12.On the internet though, the world is your marketplace. You might be able to get $15 for the same candle. The thing to consider is how do you want your candles to appeal to people? Do you want to sell candles to budget conscious shoppers, or to people who have greater incomes and don't think twice about plunking down $20 a pop for candles?The general theory behind selling cheaper is that you can sell more at a lower price than a higher price. But, there is also the theory that if something is cheap it must not be of very good quality.If you sell cheaper, and in volume, that means more work for you to keep up with demand. If you sell high, you may sell less, but may still make as much money and don't have to produce as much. Quote Link to comment Share on other sites More sharing options...
kristilkleer Posted December 3, 2006 Author Share Posted December 3, 2006 It could be that I'm a little off...After I posted that I thought about the wax portion of it. I haven't made a 16 oz candle yet but just placed an order for supplies to do so. I'm assuming that if you're making a 16 oz candle that is how much wax you will use? Basically is it 1 lb. per wax per 16 oz. candle...if I'm off on that part it still can't be that much difference. I will PM you Michi if you don't mind just for an educated opinion. Quote Link to comment Share on other sites More sharing options...
kristilkleer Posted December 3, 2006 Author Share Posted December 3, 2006 Ok not smart enough to send a PM... I'll just put it on here. Who knows? Maybe I'll get lots of opinions that way! 1case of 16oz jars @ $19.92 = $1.661case of 4786 wax @ $65.40 = $1.09 (this is where I'm assuming it's 1# per 1 16oz candle.)1 4oz bottle of scent @ $6.95 = $1.73 (I currently use 3/4 to 1oz per # of wax)1 1oz bottle of dye @ $4.95 = $.50 (I'll admit I'm clueless on this one because I haven't used enough dye to see how much I can get out of a 1 oz. bottle-but this is based on 10 uses)1 bag of wicks (100) @ 8.95 = $.09misc. = $.50 (this includes any packaging costs other than the jar and the little sticky thing I use to hold the candle)That's my breakdown and trust me any constructive critisism is welcome. I'm new to this and I really want to create a business that I can share with my daughters (someday) and my love of candles. Again, I've only made 8oz. (figured I wanted to test formulas on smaller candles) so I really don't know if it takes 1lb of wax to make a 16 oz candle...Although I do know for a fact that I can get 6 8oz jjs out of 2lbs of wax. So it would suffice to say that I could get 1.5 16 oz candles out of 1lb of wax. Well if you're not confused by now please help! Either way I'm not selling my 16oz candles at $8 I just couldn't see how anyone could make a decent profit off of that. I live in N. Texas and even if I go to Wal-Mart and buy a stinky 16 oz candle I pay more than $8. Quote Link to comment Share on other sites More sharing options...
Ahuff Posted December 3, 2006 Share Posted December 3, 2006 Well, first you need to realize that a 16 oz container does not mean you need 16oz of wax. Take your container and weigh it without anything in it. Now fill it with water to the desired fill level. Subtract the empty weight from the fill weight. Multiply the actual water contained by 86%. That amount is the total amount of material needed - meaning wax and FO. For example my 16oz keepsake jar holds 13.7 oz of water x 86% = 11.78 oz of material needed. So I would use 11oz of wax and .80 of FO for a 6% FO load. Once you have determined the actual amount of materials needed and the cost of the materials, then you can start looking at your profit margin to set a price. I think if you shop around you can get a better price for your jars. HTH,Alex Quote Link to comment Share on other sites More sharing options...
Guest EMercier Posted December 3, 2006 Share Posted December 3, 2006 Here is my take, please use some discretion when you are posting or asking a question when using another's prices and products for the topic of discussion. My prices are fine for me and personally I don't care what anyone else thinks about it. Everyone is different and price according to how they feel they need to make a profit. I've actually been able to make them at a lower cost to offer more. You cannot compare yourself to me or anyone else, as we are all different. My prices have been fine for the longest are three times my cost. If not one else feels that way then fine. Yes I can charge a bit more, and as a suggestion from SCORE - the small business people, they want me to try to raise prices next year, which is something I'm looking into. There are different ways that you can price products. If we all charged the same, then what makes us different? Quote Link to comment Share on other sites More sharing options...
StephD Posted December 3, 2006 Share Posted December 3, 2006 I actually thought your candles were quite cheap! (price wise) I think it all differs as to if you can buy in bulk and where you live and the market. I would love to sell mine cheap, but can't go to far as I cannot buy in bulk yet.Stephanie Quote Link to comment Share on other sites More sharing options...
Crowded House Posted December 3, 2006 Share Posted December 3, 2006 If we all charged the same, then what makes us different?Quality of the candle, scent list, jar style, product availability (lots vs few), shipping point, customer service, style of manufacture, advertising and name recognition, color, and wax, for starters I guess. Quote Link to comment Share on other sites More sharing options...
kristilkleer Posted December 4, 2006 Author Share Posted December 4, 2006 Here is my take, please use some discretion when you are posting or asking a question when using another's prices and products for the topic of discussion. I think if you'll read my original post I was thinking that perhaps I was missing something...I think the most important thing is that you are happy with the pricing of your candles. I'm in no way knocking you or your product, or your pricing for that matter...I just know that I would be better off selling something else if that was the profit margin I was was working with. If anything I would take this as a compliment. We all obviously think your products are worth more than what you are selling them for. Quote Link to comment Share on other sites More sharing options...
Nanasnecessities Posted December 4, 2006 Share Posted December 4, 2006 I get way more than 10 uses out of a bottle of dye. Quote Link to comment Share on other sites More sharing options...
kristilkleer Posted December 4, 2006 Author Share Posted December 4, 2006 I get way more than 10 uses out of a bottle of dye.Good maybe that means I truly did err on the high side and I'll make even more profit!! Won't really know until I get my 16 oz. jars in and do all the weighing and such. Quote Link to comment Share on other sites More sharing options...
LynnS Posted December 4, 2006 Share Posted December 4, 2006 I have a 16 ounce Country jar and it is under $1.00.I forget what a case is and am lucky I can pick up.If using mason jar(16 ounce) those would be cheaper in the long run.You can get those at Wal Mart and a few other stores.Just sounds like you are paying alot for a case.$19.00. For my case and this size jar(16oz) I think I pay just under $9.00 a case. Not bad and it is a smooth jar.I sell mine for $8.00 at shows.Lucky to get anyone to buy at that price.Scent is my biggest cost.LynnS Quote Link to comment Share on other sites More sharing options...
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