Do you want to start a candy making business from home? If yes, find here a stepwise detailed guide on how to start candy/ chocolate making business and thereby turning your hobby into a money-making venture.
Candy making business idea is a fantastic way to turn your hobby and skill into a profitable home-based business. Homemade candies are very easier to make and also quite popular. From chocolates to lollipops, children and mature adults enjoy indulging in candy. It’s a wonderful idea you may consider to convert your hobby into a profitable, home-based candy making business. The market for specialty candy is big and growing globally.
Here is a 10 Step Guide on Starting Candy or Chocolate Making Business from Home
1. Learn the Skills For Candy Making
Attend a candy-making class. If you want to make candy, you can always learn tips and ideas from training workshops organized by experts. You will need to develop your unique candy recipe also. Some popular candy recopies are butterscotch candy, cinnamon candy, white chocolate candy, maple candy, dark chocolate candy, etc. There are several sites that provide classes.
2. Do Some Market Research
Research the local candy industry to evaluate trends and the potential of the industry. Identify who is selling specialty candy in your area, and what exactly they are offering. It will also help you to determine the varieties of candy you’d like to sell and to get success in your candy making business. In starting candy making, the market study will also give you confidence whether your business is financially feasible or not.
3. Choose a Business Name
Selecting a catchy and relevant business name goes a long way in the success of any venture. Take some time off and brainstorm in finding the most proper name for your kind of product items. You can also take help from business name generators online.
Check this article to learn more about the different steps to follow in choosing the right name for your business.
4. Write s Business Plan for Your Candy Business
Craft a detailed business plan for your home-based candy making business. Decide on what are the types of specialty candy you will be making? Chalk out a plan on how you will compete with the other market leaders. Determine your marketing and selling strategy. Who will be your target niche? Calculate your startup budget. The major two capital investments are raw material with packaging and promotional expenses.
5. Choose a Business Structure
Choosing a proper business structure is extremely critical as you are going to run your candy making unit under it. For a starter, there are various options you can choose. Every country provides different company formation options. For example, in the United States, most people prefer LLC formations as it provides certain exclusive benefits.
6. Make Your Candy Making Business Legal
Craft a catchy memorable name of your candy. Secure the brand name by registering the trademark. Business permission differs from state to state. As you are handling food products check with an attorney for what kind of licenses you need from the concerned authorities. However, food safety license is a must if you want to run the business legally. If you are from the United States, visit here to learn more.
7. Arrange Finance
If you are looking for funding, ensure you have a detailed business plan at your disposal. When pitching for investment to financial institutions, this will be the most important document to convince. You can also check business lenders for funding your startup.
8. Determine Your Space For Candy Making
In starting a business on candy making from home, it is important to determine a specific space for it. You will need to have space for keeping raw materials including packaging materials, for cooking and making candies and space for finished products ready for despatch. Also, you will need to have at least a tablespace for maintaining accounts, orders, bills, etc.
9. Supplies For Candy Making
Invest in the proper supplies. You will need to have a candy thermometer as well as other candy making molds. For procuring raw materials like sugar, fragrance, etc you can go to a local wholesale market. Most important is a presentation that is the part of the allure of your candy. You need to concentrate on wrapping boxes and other packing materials to give it a great eye-catching look.
10. Sell Your Candies
Attend functions like any fair where you can sell the candy. You can go about establishing your own candy shop or you can keep your product in the local gift, craft or chocolate shop as consignment basis. Get creative when it comes to making specialty candies for the birthdays, weddings or for special events orders. The more unique your candies are the more inclined people will be to buy them. You may also consider a mail-order business for your homemade candy.
If you want to sell to a wider audience, you can try selling wholesale. Make a price list exclusive for retailers and distributors and distribute it to them. Many candy makers prefer selling their items through wholesale.
If you are serious in making candies from home and earn money while having fun, check this ebook on How to Make Candy Bouquets for Fun and Profit to learn more.
Another way of selling candies is going online. You can create your online shop and sell. Check this article to learn more about creating an online store. If you are looking to sell online without creating an online shop, the best way is to register with marketplaces like eBay, Amazon.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.