3 answers
trent
Student
Rock Hill, South Carolina
1
Question
Asked
558 views
how can i start a candy business?
How can i get started i want to have candy store :)
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3 answers
Margaret Detch
Manager
12
Answers
Mansfield, Massachusetts
Updated
Margaret’s Answer
Hi Trent,
Great to see the entrepreneurial spirit. To launch any business you need to have a business plan . Some key factors to address in the plan would include:
- understanding the candy market (e.g are annual sales increasing/decreasing, what are the major channels of distribution, where does independent candy store percentage sales in the overall candy market, what are the trends)
- who is your target market, what is your offering and how will you sell to them (e.g Store front, website, etc)?
- who are your main competitors? How are you differentiated from them (e.g. premium chocolates, low sugar candies?)
- develop a financial plan and forecast (capital costs to start up, estimated operating expenses, how many sales to break even, what is your break even period etc). Do you need start up capital and how will you get it?
The plan will likley need a few iterations and you should have subment matter experts reiew and work with you to refine your plan.
Best of luck!
Margaret
Great to see the entrepreneurial spirit. To launch any business you need to have a business plan . Some key factors to address in the plan would include:
- understanding the candy market (e.g are annual sales increasing/decreasing, what are the major channels of distribution, where does independent candy store percentage sales in the overall candy market, what are the trends)
- who is your target market, what is your offering and how will you sell to them (e.g Store front, website, etc)?
- who are your main competitors? How are you differentiated from them (e.g. premium chocolates, low sugar candies?)
- develop a financial plan and forecast (capital costs to start up, estimated operating expenses, how many sales to break even, what is your break even period etc). Do you need start up capital and how will you get it?
The plan will likley need a few iterations and you should have subment matter experts reiew and work with you to refine your plan.
Best of luck!
Margaret
Carlotta Opportuno
Brand Manager
1
Answer
San Francisco, California
Updated
Carlotta’s Answer
I would add to the above that you should first work in someone else's candy store!
That way you see if you like it and learn as much as you can on the job at very low risk for yourself (you don't own it, you will have someone above you correct your mistakes, you will be making money while learning).
In addition to that, you have to become a candy expert!
What is on trend? What tastes better? What do consumers like and how do they pick their candy? (you can go do people watching in supermarket aisles to help answer these questions).
Good luck :)
That way you see if you like it and learn as much as you can on the job at very low risk for yourself (you don't own it, you will have someone above you correct your mistakes, you will be making money while learning).
In addition to that, you have to become a candy expert!
What is on trend? What tastes better? What do consumers like and how do they pick their candy? (you can go do people watching in supermarket aisles to help answer these questions).
Good luck :)
Pulin Patel
Project Manager
2
Answers
Cary, North Carolina
Updated
Pulin’s Answer
Starting a Candy or any business should start with a lot of research so you understand as much as you can about all the things involved.
Often a good place to start would be a trip to a mall with a candy store so you can see and maybe even talk to someone working in the store or managing it.
You may want to do research on the types of cadies that your store would carry, would you buy the candy or make your own? Maybe you can have a sample store setup at your home or garage and invite family and friends to do a trial run.
Often a good place to start would be a trip to a mall with a candy store so you can see and maybe even talk to someone working in the store or managing it.
You may want to do research on the types of cadies that your store would carry, would you buy the candy or make your own? Maybe you can have a sample store setup at your home or garage and invite family and friends to do a trial run.