The Candle Exchange 1 Page Business Plan

Soy Candles Business Plan

The Candle Exchange 1 Page Business Plan

Overview

The Candle Exchange has a clear business objective to develop, produce, promote and distribute high quality soy Candle products. These products have been developed over the last year with a core focus on addressing the key customer problem and associated opportunities.

The Business Objectives

When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to acquire new customers. Customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to build a clear customer acquisition process.

The Customer

The Candle Exchange has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as Creating affordable high quality soy candles with a recycling/reuse programme. This is a critical issue for our selected target market of Candle enthusiasts.

The Value Proposition

The Candle Exchange is uniquely positioned to deliver value to Candle enthusiasts. "The Candle Exchange makes triple layered candles with wooden wicks. As the candle burns down the fragrance changes. We offer generous discounts to customers who bring their glass jars back. In order to deliver on this value proposition, Customers have the opportunity to have high quality Candles that are unique at an affordable price because they can reuse their glass jars. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.

Competitors

We have a number of competitors within the Soy Candles market. We consider our key competitors to be: Aurora Scents, Indigo Scents, Burning Soy. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Aurora Scents, Indigo Scents, Burning Soy by Triple Layered Wooden Wick boutique range is unique. Exchange programme saves customers money and encourages customers to return.

Key Strategies

Over the next 6 months our focus will be to Hold Candle Parties. This task will be undertaken in the context of our broader strategy to Set up a Factory in Shed to keep up with supply and demand. These strategies are a tactical implementation of our overall business goal as outlined above.

Milestones

Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years will be to: Launch two new boutique fragrances. Begin Candle Parties Start up a factory in the shed.

About this document
Soy Candles Business Plan
This document was created by Alisha of The Candle Exchange using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.

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