Yankee Candle Fundraising has become a popular option for groups wanting to raise money. But is it the best candle fundraiser for your group?
The answer to the question depends on your expecations of fundraising. How much profit do you think is reasonable? How much money will people pay for fundraising candles? Will the name brand help you sell more candles?
Let’s walk briefly walk through those questions.
1. How much profit is reasonable? Yankee Candle fundraising programs offer 40% profit. That’s not bad but frankly it is lower than most groups have come to expect and even demand when they sell products. Depending on the size of your group you could and should expect 50% profit from most fundraising ideas – especially a candle fundraiser. Here is a link to higher profit candle fundraisers.
2. How much money will people pay for a fundraising candle? Yankee candles sell for $24 each. While that is close to the retail price people pay for Yankee candles it is well above the prime fundraising price points. Historically people like to pay $10 or $12 for a fundraising candle. Anything higher can seriously impact the number of candles you sell. One would suspect that higher prices would allow for higher profits so before choosing a Yankee Candle fundraising program realize that their candles are priced higher than other candle fundraising programs.
3. Will the name Yankee Candle help me sell more candles? The name Yankee Candles is one of the most respected names in the candle industry. No doubt about it. But does that translate into higher sales? We do not know of any studies that definitively answer that question. What we do know is that in tight economic conditions people are sensitive to how they spend their money. While some people might be more attracted to the name brand we believe people will purchase more candles when the prices are lower. Combine that with higher profit margins available on other fundraising products we come to the conclusion that profits are the main goal of fundraising and should be considered when choosing your candle fundraiser.
CLICK HERE for details on the top candle fundraisers.