Topic: My own Business
Thirsty_30's photo
Wed 12/08/10 07:32 PM
Hi to all of you.Please sugest me if you do, know or have any busines,trade idea.I had a candle plant where i couldn't make good earning because the profit margin was low (half rupee for each five rupee candle) neverthles the demand was good. sorry to bother you..

krupa's photo
Wed 12/08/10 07:41 PM
Try to incorporate popular cultural icons into the candle making. Even religious symbologies can enable slight price increases per candle as opposed to a plain candle. Pop icons (especially of status symbols ) are where you can easily at least triple profit margins. Not sure if the same holds true in India (I assume), but, in the states...people gladly pay more for decor that is pretty much useless and only detracts from simplicity of design. Just writing the name ELVIS or HARLEY on any product means at least a markup of x5.

Stupid?.......yes
True?.........ABSOLUTELY!

Best of luck

AndyBgood's photo
Wed 12/08/10 07:58 PM
Well, you have to find something people want that no one else is providing but likewise have the know how and experience to deliver.

Likewise it is also about marketing.

Now since you are in India there is something you need to ask yourself, how large of a market are you trying to affect and how much do you really wish to make?

eBay is a wonderful place to start providing you understand what you are trying to accomplish, in this case a successful business enterprise. Candles in India may not be worth that much but if you are creative you can use that to your advantage and leverage more money out of candles in other countries other than India!

Marketing: How and where. In India candles may only fetch 5 rupees for say six but in America six candles sells for $2 to $5 depending on how it is marketed per six. Now your production cost is a half rupee per six. You have to face shipping but if you are doing things through eBay on an on demand basis instead of trying to send sea containers of candles you are sending them sold to individual customers where they pay for shipping, not you, and you can make more money for yourself predisposing you can do what is called "fulfillment" meaning you have people who can package and ship the candles and make sure the customer gets what they order. Also since you are not shipping by huge container lots you don't have to pay duties and taxes associated with the shipping of large numbers of goods! Now if by some fluke you manage to sell a huge order be ready to pay duties. But with small "Direct to customer" sales usually you can bypass a lot of money out doing international business.

Now is a candle a candle? Yes and no. If you call it a candle it is JUST a candle. BUT (here is the tricky part!) giving a candle a name like "Temple Candle, Meditation Candle, Indian Lights, and any catchy name can make people think the candle is something different enough to make them eager to pay more for it. Just be sure there is some quality to the product. In come cases quality can be a detractor for people looking for stuff that is a cultural product like Guiana Soak which looks nothing like traditional soap but a strange greasy amalgamous lump of stuff. If it is called a "temple candle" it should look like a temple candle. Oddly a small gold band on a candle can also change its appearance enough to make it not only stand apart from others but it also makes it seem more valuable. So can a colorful paper band.

The process is trial and error. People in the US and Europe eat up Indian culture and that unto itself leaves you with a possible market that you were not only unaware of but also a possible means to make six 5 Rupee candles worth (assuming the Rupee is worth 45 rupee to 1 American Dollar by current exchange rate) anywhere from 90 Rupee to 650 Rupee and shipping should not be that bad for candles. It is all about how you dress it, where you present it, and if it meets what the customers want.

In order to really make this work you must be able to deal direct to customers. Like i said before eBay is a great way to get your feet wet and grow your market in other countries where with proper marketing and not going crazy spending money you don't have advertising, you can take a product you are not making anything on domestically and make a killing off of it elsewhere.

You cannot reinvent the wheel! You can however put it on a chrome rim and make it look much better than the other wheels!

Hope this helps! There are a lot of ideas but it is using what you have at hand and how you work with it and where you target your sales that can make a huge difference!

Real Beeswax candles are VERY expensive here! Food for thought just in case!

drinker

markc48's photo
Wed 12/08/10 08:23 PM
Ebay is great, I dont know about candles on ebay. But barter those for some great old wood carvings. You could be pulling in the big bucks. a little ebay secret pick a category than chose auction only now pick number of bids most. And those are the things to look for.

kc0003's photo
Wed 12/08/10 08:27 PM
if you will be kind enough to forward a check in my name for the amount of $1,500,000.00 i would more than happy to assist you in this endeavor.

Thirsty_30's photo
Wed 12/08/10 08:57 PM
Thank you sir

Thirsty_30's photo
Wed 12/08/10 09:10 PM
Thank you sir for your valued information. Can i plz know web addres of eBay..

tessa68's photo
Wed 12/08/10 09:28 PM
check out this sites..

sell.com
etsy.com
ioffer.com
amazon.com

or make your own website ...goodluck...

AndyBgood's photo
Wed 12/08/10 10:12 PM

Thank you sir for your valued information. Can i plz know web addres of eBay..


ebay.com

Totage's photo
Tue 02/01/11 04:00 PM
Edited by Totage on Tue 02/01/11 04:01 PM
etsy.com may be a better fit than ebay. Or, use both!

motowndowntown's photo
Tue 02/01/11 04:19 PM
You need to find out why it is costing you four and a half to make something you can only sell for five. Lower your production costs.
And don't do it on the backs of the workers eh.

no photo
Tue 02/01/11 04:57 PM
Don't forget...



... the purple rupees are worth 50.

no photo
Tue 02/01/11 05:09 PM
I've seen this before either here or some other sitetongue2 whoa

KevinHecka's photo
Wed 02/02/11 08:43 AM

if you will be kind enough to forward a check in my name for the amount of $1,500,000.00 i would more than happy to assist you in this endeavor.


You wouldn't happen to be related to that "Poor Aunt Nellie" from Nigeria would you? She keeps on sending me e-mails.Though I've sent her thousands of dollars to aid her poor son, it's just not helping?

oops

K.