Derek DeAndre
HOAM Candle Co.

What inspired you to become an entrepreneur in the candle industry?

As the monotony of spending every day at home began to take a toll on me during the pandemic, I found that the best way to improve my environment and my mental health was through lighting candles. The concept for HOAM came to me as I was sharing my new found remedy with others using social media and realized that this could be my next business venture. Once I began researching candle making and candle retail businesses, I realized that there was a lot of potential in this market.

HOAM is not my first business venture. I have been an entrepreneur for almost ten years, exploring various industries. This time around, I was looking to create a business that would include more universal products rather than my previous venture, fashion, which had a more specific audience. As I was going through the process of building the business, I began to realize the expansive reach my products could have.

In my previous business ventures, I relied on myself for most of the important decisions in the beginning. I rarely reached out for help and would later see that detract from the overall success of my businesses. After opening HOAM I knew that connecting with a program like Balch Business Boost could help structure my business in a way that was scalable, sustainable and positioned for growth. I officially sold my first batch of candles in February 2021 and will soon celebrate my one-year anniversary.

What is the biggest lesson that you have learned since launching HOAM?

Building HOAM has taught me more about myself than any other project I have taken on as an entrepreneur. When opening HOAM, I knew that the competition in the luxury candle market would be challenging and that I would need a unique brand to distinguish my business. I ultimately decided that engaging with my true personality would set HOAM apart, providing the competitive edge I was seeking. This business pushed me to be the most personable version of myself and bring my authenticity to the brand.

Prior to creating this business, I was unaware of how important it is to be intentional with your audience. Throughout this journey, my commitment to seeking out customers and interacting with them has positively impacted our sales. It was and continues to be my responsibility to market HOAM and help our target audience understand the value of the products we offer.

Investing myself into the company was the best lesson I have learned by far. It may seem intimidating to start a business with the main investor being yourself, but trusting my instincts is what has propelled me through this first year.

Why are programs like Balch Business Boost important to diverse entrepreneurs?

Programs like Balch Business Boost are important because when you are building a business from the ground up, you may not necessarily have the insights, knowledge or finances to acquire legal counsel. As an experienced entrepreneur, I know how important it is build a business with a strong legal foundation. Balch Business Boost gave me access to legal advice dedicated to structuring my business.

The program offered additional resources to me, such as a review of my return policies, website privacy policy and other intellectual property matters. I am endlessly grateful for the work done by the attorneys at Balch and their dedication to setting me up for success as an entrepreneur.

What advice would you give to a new entrepreneur?

I once read an article that said, “Sell the problem that you are solving, not the product.” This is a great way to describe my business goals. I believe that I can help people attain the tools, skills and products they need to improve their self-care and quality of life. As discussions surrounding mental health have become more prominent in recent years, I am grateful to have HOAM as an outlet to contribute to these conversations.

I would advise an aspiring entrepreneur to narrow their concentration to the opportunity they are pursuing. Additionally, I would encourage them to leverage their unique personality and skill set to add value to their brand. It is important that entrepreneurs remain focused on their specific product(s) and the distinct problem they are solving.

Where do you draw inspiration from when making/developing your candles?

The name HOAM is reflection of myself and my personality as a homebody. The feeling of comfort and safety I have in my home has always been an essential part of my life. My candles are a reflection of the things that remind me of home, for instance, my candle “Big Peach” is named after my home state of Georgia. My best-selling candle is called “Me Time” which is associated with the time you have to yourself at the end of a long day.

The inspiration behind all of the candles’ names and scents are influenced by the familiarity of home. When someone is burning a HOAM candle, the goal is to enrich their space and create an ambiance right in their own living room.

Scents have the power to remind people of specific places or moments in time. My hope is that HOAM candles will transport our customers back to the comfort of their home no matter where they may be.

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Photos courtesy of HOAM Candle Co.

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