#004 Pricing candles correctly is crucial for profitability, growth, and sustainability in your candle business, going well beyond the outdated 3x markup rule.

• Understanding your target customer and what they're willing to pay should be your starting point
• We price our classic 10oz candles at 5x cost ($5.50 cost → $26 retail price)
• When wholesaling, retailers pay 50% of retail ($13), still giving us solid profit margins
• Visit stores where your target customers shop to research pricing in your desired niche
• Differentiate your product visually to stand out in a crowded market
• Proper pricing allows for promotional strategies like "buy 3 get 1 free" that increase average order value
• Free shipping thresholds can encourage customers to add more items to their cart
• Consider your long-term costs when setting prices, as bulk purchasing will lower your per-unit costs
• Re-evaluate your pricing strategy every six months based on market conditions and performance
• Your margins must support discounts, reinvestment, hiring, and future growth plans

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