Scented Candles are made with fragrant oils mixed into the wax, give off a pleasant aroma when burning. A Scented Candle is a nice touch in a bathroom, especially when guests are over, in a bedroom, or any room of the house.

A scented candle can create an ambience of healthfulness and well-being. Unlike incense, scented candles do not add smoke to the air.

The business idea aims at the production of 1300 wax candles per month which translates into 15,600 wax candles per year.

The revenue potential is estimated at NGN 1,950,000 per month, translating into NGN 23,400,000 per year. The total investment capital for this project is NGN 6,847,000.

Technology and Process Description:

The equipment used is simple and can be fabricated locally. The process involves wax and satiric acid which are melted in a mild steel mould.

The wick is inserted into the yet-to-be solidified candle and the molten mass is poured in the cylindrical mould and it is cooled by water and poured onto the floor. When completely dry, the wick threads are trimmed and then packed.

Capital Investment Requirements (CBN Exchange rate – $1 to NGN 414.72 as of 23rd of July, 2022)

Capital Item Qty Price Per One NGN Amount (NGN) Amount (USD)
Candle Moulds 1 100,000 100,000  241.138
Charcoal Stove 1 15,000 15,000 36.169
Total Cost 115,000 277.296


Production and Operation Costs

Cost Item Unit Cost NGN Qty/ Day Pdn Cost/Day NGN Pdn Cost/Mth NGN Pdn Cost/Year NGN Pdn Cost/Year USD
Wax (25KG) 25,000 1/2 12,500 325,000 3,900,000 9,403.935
Stearic Acid (25KG) 30,000 1/4 7,500 195,000 2,340,000 5,642. 361
Candle Wick (100 Pcs) 1500 1 1500 39,000 468,000 1,128.472
Sub-Total 21,500 559,000 6,708,000 16,174.769


General costs (Overheads)

Cost Per Month NGN Cost PerYear NGN Cost PerYear USD
Utilities 2,000 24,000 57.870
Sub-Total 559,000 6,708,000 16,174.769
Total Operating Costs 561,000 6,732,000 16,232.639


Project product costs and Price structure  

Item  Qty /day Qty/yr @ Pdn cost /yrNGN Pdn cost /yrUSD TRIn NGN TRIn USD
Scented Candles 50 15,600 1500 6,732,000 16,232.639 23,400,000 56,423.611


Profitability Analysis

Profitability Item  Per day Per month Per Year 


Per Year 


Revenue 75,000 1,950,000 23,400,000 56,423.611
Less production and  operating Costs 21,500 561,000 6,732,000 16,232.639
Profit 53,500 1,389,000 16,668,000 40,190.972


Market Analysis

The market for scented candles is available throughout the year.


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