This festive season can be your best chance to start your business with a minimum budget. During the Diwali, demand for this business is huge. But if you think in a proper way, then you can realise that this business can be run in all twelve months.
Details about the business
Candles are an essential decorative item. According to expert market research, global sales in the candle industry are projected to reach $10.87 billion by 2034. According to a Fortune Business Insights report, the luxury candle market is growing rapidly, with consumers opting for “high-quality lifestyle accessories” for both home decor and relaxation. Commercial use of candles is also growing, with spas using them for aromatherapy and restaurants using them to create a relaxing atmosphere. Candles are an essential decorative item. According to expert market research, global sales in the candle industry are projected to reach $10.87 billion by 2034.
According to a report, the luxury candle market is growing rapidly, with consumers opting for “high-quality lifestyle accessories” for both home decor and relaxation. Commercial use of candles is also growing, with spas using them for aromatherapy and restaurants using them to create a relaxing atmosphere. Start-up costs for a candle business in India vary considerably, from ₹15,000 for a small home setup to ₹1.5 lakh or more for a well-branded enterprise, and potentially much higher for large-scale commercial ventures. The total cost depends on factors such as the scale of the operation, the quality of raw materials and equipment, location, branding, and legal requirements.
How to start the business
Basic equipment for starting a home-based candle business can be inexpensive, but professional or automated machinery for larger production will increase costs. The quality and quantity of wax, wicks, fragrances, and dyes directly impact the initial investment. A home-based candle-making business can be started for as little as ₹15,000 to ₹50,000.
If you don’t have the money to start a business, you can also take out a loan through government schemes. One such scheme is the PM Mudra Loan Scheme. Through this scheme, you can get a loan and start your business.
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