Question 1: Does Waxman try to compete with Wal-Mart or Linens "N Things on the basis of price? How does Wax market its product?.
Answer 1: Wax does not try to compete with Wal-Mart or Linens "N Things as far as price is concerned. Wax keeps strong with expensive candles doing everything in his power to keep people interested and intrigue "candle freaks". If you bring in your favorite shaped container, they can make it into a candle, with many different colors, textures, and scents to choose from. Custom made candles, and just going to a specialty store probably makes true candle lovers interested as well as browsers. .
Question 2: Discuss Werts" background and experiences since he started making candles in 1970. Is he a "typical" entrepreneur? What characteristics do you think it takes to start and succeed in your own business? How does an entrepreneur figure out what kind of products, services or company to create?.
Answer 2: Werts started his business with a pure passion for candles. He dropped out of school with no money and produced his own candle making tools. Werts let other people do the retail with his candles and took the "back room" position in the industry. To be successful in an independent business you need to be optimistic and have some type of plan. Of course business skills and experience are a plus, it can be done by almost anyone willing to commit their time and money. An entrepreneur can figure out what to produce or services to provide by thinking about what they love weather it is a hobby or just something that appeals to the particular individual, the more you are interested the better chance you are going to want to stick with it.
Question 3: How did demographics affect Waxman candles? What competitive challenges did the company face over the year? How do you think Waxman Candles manages to make a profit even with a guilt of candles and tough competition?.
Answer 3: The primary demographic amongst the candle buying public consists of the post hippie baby boom generation.