Have you seen a huge increase in demand for your wax products? Are you running out of supplies fast or looking to make your processes more efficient and with less waste?
If so, it might be time to make the leap to industrial wax equipment!
Here are some things to look for that are signs that you’re ready to upgrade to industrial wax equipment:
1. Sales are consistent and full of growth.
Anyone can start a hobby and experience an instant flurry of more than expected sales. Word about one’s work can quickly circulate to friends and families and their friends.
Don’t base the health of your soon to be business based on inconsistent high sales numbers. These are unpredictable.
If, however, you’ve been giving away products from your hobby and you have a solid base of regular customers and a hefty number of new monthly customers, it may be time you’re ready to take your business to the next level.
2. You’re constantly running out of supplies.
You keep buying larger and larger quantities of wax and candle-making supplies. Still, you seem to use it all before the next time you are available to get some more.
3. Your personal wax equipment is no longer enough.
Do you have a backup of orders waiting to be filled and sent? Have you noticed that your equipment has been breaking down more often or not producing as high a quality product?
If so, you may be ready to upgrade your hobby to a business. When you take your business to the next level, so should you upgrade your wax equipment to industrial size to increase efficiency. Of course, you’ll need a larger building space to accommodate the industrial sized equipment.
4. Can comfortably accommodate business expenses.
Making a healthy profit may pad your bank account with more play money (provided you’re working and your hobby is a side gig), but will it be enough to sustain all the operating costs for a business for 6 months or more?
If the answer is a resounding “yes,” then you’re ready to make that next step. If not, then it is best to remain small and continue to build up your bank account.
There are four signs that are indicators of whether it is time for your candle or soap making hobby could be made into an enterprise business. You need to make sure that your sales are consistent and healthy, that you’ve made enough profit to comfortably manage all the business expenses for the first six months and have wax equipment that accommodates large batches.
When you expand your candle or soap making business, you’ll also need to upgrade your wax equipment.
If you’re ready to take your wax company to a new level and invest in a new, larger, updated wax machine, contact us at Coogar Products today. We have a wide range of wax mixing, melting and pumping equipment suitable for companies of any size.