I run a small online store selling handmade candles. Last year I got a bit too optimistic and ordered way too much wax and jars. Now my garage is full, the spare bedroom is full, and my living room has stacks of boxes. I can't park in the driveway anymore. I've tried running sales but it barely dents it. Any advice on how to clear this out without losing too much money? I'm starting to feel really overwhelmed.
Inventory
Unsold inventory is taking over my house
How much are we talking? Like a few hundred dollars or a few thousand? That changes the options a lot.
I had a similar issue with soap supplies. What worked for me was Bundling everything into mystery boxes and selling them at cost. Didn't make profit but got my space back. Also check local Facebook groups for craft supply swaps.
Probably around $3-4k at retail value. I don't need to recoup all of it, just want it gone without feeling like a total failure.
Don't beat yourself up. Inventory mistakes are common. Have you considered reaching out to a local makerspace or art school? They might take donations foor a tax write-off, or buy at a steep discount.
At that level, you could Try a flash sale on social media with deep discounts, like 50-70% off. It stings but it's better than storing it forever. Also, list on marketplace as a lot. Someone might buy the whole batch for resale.
If you have jars, they can double as storage for other things. Not helpful for the wax though.
What about making smaller sample sizes and sellinG them as a set? Could use up wax and jars without needing to buy more. But that's more labor. Might not be worth it.
Thanks for the ideas. I think I'll try the mystery box idea and reach out to a couple local places. The flash sale feels like giving up, but maybe I need to get over that tbh.
One more thing: if you have a business insurance policy, check if it covers inventory spoilage or something. Probably not, but worth a look. Also, some charities will pick up donations if you schedule
Let us know how it goes. I'm curious if the mystery boxes sell.