I started this series from the end. By now, you already know that I've closed my doors with the Wicked Candle brand. I've outlined some of the difficult considerations I took into account when making that decision. I've walked through the steps to set up the company and through some aspects of the earlier stages of growth. For a while, the brand was on an upward trajectory (although, maybe not as dramatic as outlined in Figure A below!) of growth with some potential of moving forward. It was an exciting time and I'm dedicating this post to sharing what it was like before we plateaued and ultimately decided to close.
Figure A. Wicked Candle Lifespan over Business Lifecycle
Evolving Wicked Candle
As I continued to work towards a more polished product and streamlined process, my business evolved and I made some more leaps:
For the product:
I simplified the variety down to a handful of options. Specific products were available through distinct distribution channels, which took into consideration shipping weights and corresponding prices and breakage (for glass containers).
I also found a label that fit just about perfectly on the silver tin lid. This gave the candle a more sophisticated look and also solidified the visual brand identity of the product.
I was able to gain (some) economies of scale for packaging and continued to use the branded stamp on a simple brown box -- again, solidifying the visual brand identity.
These decisions enabled me to easily and accurately estimate production timelines for custom orders.
For the pricing:
Not only did my decisions around the product streamline the candle-making process, but it also enabled me to set clear retail and wholesale pricing.
I was able to predict exactly when I needed to order more materials too, which helped with budgeting.
For the promotions:
I always knew that professional looking photography was helpful but I didn't realized how effective it was until I invested in product photography with Fifty One Hale Photography, who was a former colleague at my day job.
She created a look and feel that I could replicate on my own by updating the artwork labels over a blank product shot. I kid you not, once I cleaned up the photography on my Etsy listings I literally received orders overnight. That was the ONLY change I had made and it was so worth it. I cannot recommend how important professional photography is to your growing product brand.
On social media, I introduced more of a human aspect to the brand and started sharing more posts about my life and not just the brand. While it's an everyday occurrence across social media now, at the time this wasn't as prevalent. Those posts significantly outperformed others.
For the placement:
I mentioned that I introduced wholesale pricing. I started contacting local businesses that have retail presence and offering wholesale pricing options. I learned about order minimums and created collateral to help explain how I work with retailers. This was hugely helpful in securing larger orders and increasing my profitability.
I also gained exposure in local markets and helped to establish credibility with a presence at a brick and mortar location without the overhead expenses of owning an actual building or renting out space.
Shipping from my online orders become slightly more predictable after streamlining the product to selling one version on Etsy.
I offered larger glass containers for my retailer clients (they could sell for a higher retail price) and delivered orders in person (I had a car and they were all very close by).
At local events, I realized that it was key to have a variety of options (and subsequently, price ranges) available. I participated in an ongoing pop up shop on Newbury Street in Boston and found that many of the other Etsy shop owners were charging so much for their product, but they didn't offer any variety in price points. They were caught up in the art of their product but lacked in serving up some kind of option to the customers that were coming to the marketplace.
Key Learnings
There were some surprises during this stage of growth that took me off guard! It was a really exciting time, since I was gaining more traction locally. I even had the new Whole Foods location reach out to me about carrying some of my products in their shop (unfortunately, this was also right as I was about to move to Ireland, so it didn't end up working out), but it was still exciting nevertheless!
A few things that I learned:
As I made refinements to my product, it started to look really professional. I actually received some negative feedback that it didn't seem handmade enough! I had to explain to customers that it was still, in fact, handmade, all the labels were still designed by us and to reinforce that messaging, I started sharing more pictures on social media of me actually making the candles. Having a little more rustic element (like my brown box packaging with the logo stamped on it) certainly helped to maintain the authentic, handmade look and feel. As a small business owner, understanding how to maintain the integrity of your product and balancing it with your brand values can get a little tricky!
If you're selling a product -- do NOT hesitate to contact local retailers! I found that they were very support of small, local, craft businesses. They were usually very willing to buy an minimum - even if it was just once, to see how the product would sell in their store. I began outreach via email first (most companies have some kind of contact email address on their website, yes it requires a little research to find!) and always suggested that whenever possible we meet in person. People enjoy not only meeting the 'maker' behind the product, but they buy from people they like. They like being able to share these stories with their own customers.
Bring in the professionals. My product photography (shot via my iPhone) was meh, really because I lacked the skill-set. But those photos were more important than I gave credit to, it was the only way that 80% of my customers could preview what the product was like before purchasing. Hiring a professional photographer was literally one of the best investments that I made in the business.
Understand your distribution channels. Where you sell your product (or service!) really matters and how you deliver for that channel is super important. Here are a few examples:
Online: Selling on Etsy had a whole different ball game of factors that I needed to consider that differed from selling through any in-person channel. I had to figure out how to portray a scent (without the consumer actually smelling it!), showcase scale and size of the product, factor in weight of the product (with packaging) and type of the container that would reduce the risk of breaking or denting while shipping.
Retail Locations: Most of the retail small business owners who bought the product wanted a variety that extended beyond just scent options. They LOVED customization and wanted something that customers could only buy at their store. In order to not recreate the wheel every time, I had a larger glass container in addition to the smaller silver tin.
Markets & Trunk Shows: By the time I had presence in the standing Etsy market on Newbury street, I had understood what had previously worked and what didn't for the in person markets. Variety really was key. I also used this as an opportunity to test some cool packaging that would be too bulky (and expensive) to ship. I went from a table where I laid out all the product, to incorporating shelving units in the market space. I also realized that inventory ran out WAY quicker than I thought at in person markets, so I really needed to backfill in advance.
We still have our Facebook and Instagram pages up if you're interested in checking out the evolution of the company via our social channels:
Facebook: https://www.facebook.com/wickedcandle
Instagram: https://www.instagram.com/shopwickedcandle/
Closing Thoughts
I toyed with the idea of reinventing the Wicked Candle brand, trying to breathe some life back into it. I had so many ideas about how I could do that, which further complicated my decision! However, reality hit that I simply couldn't do it all. After opening D&Co as well as keeping a day job (and having somewhat of a life, friends, family, etc), it was too much for me to maintain to the standards that I once had dedicated to the business and that my customers expected. It was hard to finally say goodbye, but the decision ultimately freed up some of the guilt I had been experiencing when I knew I was neglecting the business. It allowed me to shift my focus to building something new and apply everything I had learned from that invaluable experience.
I hope that you've enjoyed reading about my journey with Wicked Candle and that you continue to join me for my new venture with Dalziel & Company. If you're not already on our mailing list, scroll to the bottom of this page and fill in your email under Subscribe to be the first to know about more of these kinds of posts!
↓