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Business Candle Making Plans – What are They?

A business plan for any new business, including a business plan for making candles, is an outline of all the important aspects of the business and how they are going to work over the first year of trading. It is just like any other plan – it provides a detailed map, blueprint or chart for you to plot your course on how to get from zero (no candle business) to the end game – a profitable, functioning candle business that is growing.

Business plans are really useful documents for anyone starting a business for the first time, because they help you plan in thorough detail every aspect of what you are going to do. And a little planning up front can help avoid a whole lot of grief later.

Most people write a business candle making plan to get either grant money or investment. But the best reason for creating a business plan for making candles is for your own benefit. You may think you’ve got it all mapped out, but trust me, as soon as you start trying to write it down gaps will appear. (This is a good thing by the way!)

People tend to be scared of business plans because they have never seen one. This is reasonable! Clearly if you have never seen a business plan of any kind the idea of creating one from scratch might be a bit daunting.

Once you’ve read a few though, you’ll realise they are all pretty similar. They are formal documents that follow a standard layout and content, with just a little variation to account for the differences between individual types of businesses.

The main variation between most business plans is simply how well they are written, NOT the actual content. A business plan is as much about persuading the reader that you know what you are doing as it is about what you are doing.

What does a business plan for making candles cover?

The business plan will look at the product or service you are going to sell. Clearly for a business candle making plan this will be about the candles you will be making. You will be quite specific about the kinds you will make, the materials you will use and the prices.

Your business plan for making candles will look at the overall market for candles: whether it is growing or shrinking, who buys candles, why they buy them and when they buy them. It will also cover any research you have done into the market for your individual candles and if people are likely to buy them.

Your plan will detail how and where you are going to make your candles; how they will be manufactured. It will cover who your suppliers will be. It will go into a lot of detail about how, where and when you are going to sell the candles.

Your plan will cover how you intend to market the business. Sometimes the material for the marketing section will come from a separate and more detailed “Marketing Plan”. This may or may not be included with the business plan if you are submitting an information pack for prospective investors, but you will always summarise the main points in the main business candle making plan.

One of the most important parts of the business plan comes at the end. This is the financial breakdown. You basically produce a full set of accounts, just like you would at the end of your first year of trading. This is a made-up set – it represents your best guess at this stage of what the accounts will look like for real at the end of your first year.

The financial section tends to be of most interest to people reading the plan as the thing they most want to know is how much money the business will make. If you have never seen a business plan you have probably also never seen a set of accounts, so these two or three pages can look very scary. As with all other aspects of a business plan though, you can learn what they mean with a little patience.

Every business candle making plan will include a Management or Executive Summary. This will be a very short summary of the main points covered in the plan. It will be no more than 1-2 pages and although it is always the first thing in the business plan for making candles it is always the last thing you write.

There are a few others things you might find in a typical business candle making plan. You might include a time line for activities showing what will happen when, although this is a less usual inclusion. If you have a lot of products you might include a catalogue of products. If you have developed any marketing materials, e.g. adverts you might include these. This type of material tends to be included as an appendix, because it supports the main body of writing which should always be clear and concise.

And that’s all it is. To sum up – a business candle making plan is a formal document which follows a standard style and layout. There are pre-set sections of information it will include, but each section is written specifically for your own candle making business. The most important sections in the whole plan are the financials section, which shows how much money the business will make in year one and the executive summary, which is just a prĂ©cis of the whole plan you put at the front.

There are many other types of information which might be included, usually as appendices if they support the main story. The main reasons for creating a business plan for making candles are usually to get grant money or investment. However, it is highly recommended that if you are new to business and new to home based candle businesses you should write a business plan for making candles for yourself, so that you are clear on what you are doing.

How to Set Up Your Business the Right Way

According to a report issued by the US Small Business Administration, in the year 2006 there were approximately 26 million small businesses in the US that generated 75 percent new jobs and formed almost 50 percent of non-farm private GDP (Gross Domestic Product).These statistics clearly indicate that the phenomenon of self-employment is rapidly gaining popularity. However, setting up one’s own business is not an easy task. Here are a few useful tips that will help you to set up your own business in the right way.

Skills and Qualities

Like every profession, an entrepreneur also requires a specific set of skills to excel. Your first step towards setting up your own business should be to conduct self- analysis to find out whether you have requisite qualities of an entrepreneur or not. Degrees shouldn’t be a matter of concern, if you are not intending to start your business as a dentist or therapist. Although degrees do impart a certain amount of credibility, but they are not essential.

As an entrepreneur, you are expected to be a self-starter, realist, well-organized, meticulous and professional. In addition to physical stamina, you should be mentally strong to be able to make decisions unyieldingly and take risks cautiously. You should have the knack to deal with people diplomatically. Furthermore, you should be literate enough to be able to handle your funds intelligently. Lastly, you should know how to overcome your failures.

Knowledge of the Types of Business

Try to amass as much knowledge as possible about various types of business. In the era of computer and internet, this shouldn’t be a difficult task. Delve out the pros and cons of each business type. At the end of your investigation, you will know exactly whether to start your business in partnership with your friend or work as a freelancer.

Areas of Interest

It is very important for your business to match your area of interest. You will be investing your precious time and resources in your business venture. If at the end of the day you do not enjoy what you are doing, then you will automatically put a big question mark on the success of your venture. Hence, first select your area of interest, and thereafter search for the possibilities of kick-starting an entrepreneurial venture in that area. For instance, if you are interested in broadcasting media, then you can easily venture out as a freelance writer, magazine editor, make-up artist, etc.

Getting Started

Once you have a business idea, find out whether there is a market for it or not. Market analysis is essential because without a market you cannot convert your business into a successful venture. Through meticulous market study you will also be able to recognize your competitors. The next thing that you should do is to give your enterprise a name. Get a logo created for your company, and get it registered if it is a limited company.

Find a suitable and affordable premise for your company. If your work station is home-based, then be sure to make a risk assessment. Your business should in no way endanger your health and safety. If you intend to use external premise for your business venture, then ensure that the health and safety laws are conformed to under all conditions.

If your business idea is a new invention or concept, then take steps to prevent it from being copied. The patent law, trademark and copyright are just for that. Also seek permission from appropriate authorities to prevent any legal hassles later.

Write a Business Plan

A good business plan spells out your goals and the strategies you will use to achieve those goals. It clearly defines the role of each individual in your organization. Additionally, marketing plan, sales forecast, operating plan, quality control factors, budget, cash inflow, outcomes and evaluations are also included in the business plan.

Expertise is required to create a sound business plan. If you have that proficiency, then you can create your business plan. However, in the absence of requisite capability, there is no harm in seeking external assistance. Keep in mind that a business plan allows you to exploit the business opportunity that you have identified in your best interest. Hence, work hard on it.

Identify the Resources for Capital

Initially, your business venture will require a steady flow of capital to become functional. Everything from accommodation, equipment and infrastructure to training, marketing and employing staff is associated with a cost. You have to find resources that will pump in capital into your enterprise. These resources can range from friends, relatives, investors, venture capitalist and business angels to banks and grants. You have to determine which resource is most feasible for your business venture.

Create a Marketing Plan

The success of any business solely depends upon its customers. You have to allure your customers and then convince them to buy your product. For all this a foolproof marketing plan is required, and for the creation of marketing plan you should know the requirements of your customers and how you can cater those requirements. Surveys, interviews and discussions are the best ways to know what your customers want. Once you have the customer specifications in hand, you can devise ways to fulfill those requirements. That’s what a marketing plan is all about.

Manage Your Finances

Your business should generate profit for you, and you can ensure this only by organizing your finances properly. If money matter is not your cup of tea, then employ an efficient accountant. In the entire process of garnering profits be sure to pay your taxes properly.

Conclusion

Setting up a business venture requires a lot of hard work, commitment, persistence and determination. If you have these qualities, then with the aid of the above tips you can surely establish your enterprise and run it successfully.

Bilingual Double Sided Business Cards – Bringing the Best of Two Worlds to Your Business

Most businesses through the use of the internet have become global businesses. In a world where the distance from business to business has shrunk it is important to expand our thinking on marketing. Double-sided business cards are an inexpensive and effective marketing tool that allows you to offer pertinent business information in more than one language or to offer more information about a business by utilizing both sides of a standard business card.

You want your business cards to say something about you and to tell your prospect more than just a generic name. Make certain that your business has a descriptive and appealing business name that tells not only what you do but establishes a governing idea of who you are to whoever looks at your card.

When you think of the importance of double-sided business cards, imagine that they are small brochures that you will distribute to others. Make certain your business card includes your name, your business name, company logo, address, phone number and fax number, email address, site’s URL, and mission of your business in a single sentence. Make the most of the space you have by including as much copy (or descriptive writing) you can fit while maintaining an uncluttered design and appearance. Some inventive entrepreneurs hand out double-size double-sided business cards that are folded in half to be the same overall dimensions as a standard business card. On the outside of these custom business cards the information is fairly standard but the inside appears to be a promotional flyer clearly indicating products and services and the features of the same. These double-sided business cards may look like the standard business card, but they work like a high end advertising brochure.

If you are a global traveler or offer products and services in multiple parts of the world, you need a double-sided business card. While English is considered to be the preferred language of international business and scientific discussions, it is excellent business awareness to incorporate the language of foreign country that may not consider English its native tongue. If you do business in Japan, Russia, Taiwan, China, Mexico or other non-English native speaking countries, consider having bilingual double-sided business cards printed which give your contact details in English and the native language of the country with which you are doing business on the other.

Be sure to have the text reviewed by a foreign linguistics expert. You do not want to make the same faux pas, like the fictional Austin Powers, who confused “please eat some shitake mushrooms” for please eat some sheets! Finally, observe the formalities and protocols for business card exchanges from culture to culture. For example, in Japan, business cards are proffered using both hands, with a bow and should be accepted in similar form and manner. Please visit our site for more information on Double Sided Business Cards.