Episode Summary: Mind The Business – Small Business Success Stories Featuring The Candle Pour

Podcast Information:

• Title: The Great Detectives Present Dragnet (Old Time Radio)
• Host/Author: Adam Graham
• Description: Host Adam Graham explores every episode of Dragnet, including bonus content.
• Episode: You Might Also Like: Mind The Business: Small Business Success Stories
• Release Date: February 8, 2025

Introduction to Small Business Ownership

Janice Torres and Austin Hankwitz kick off the episode by delving into the essence of small business ownership. Austin shares his early entrepreneurial experiences, starting with a snow-blowing service in eighth grade:

Austin Hankwitz [01:13]: "The first business I had was in eighth grade... I made some quick money."

Janice reminisces about the childhood lemonade stand, drawing parallels to the foundational steps many entrepreneurs take:

Janice Torres [01:24]: "I instantly think of a little kid opening up a lemonade stand... the first step into going business for ourselves."

Guest Introduction: The Candle Pour

The spotlight shifts to the guests, Misty and Dennis Akers, founders of The Candle Pour in Tampa, Florida. Established in 2019, their business offers a unique "pour your own candle" experience, fostering social connections through a hands-on, sensory activity.

Janice Torres [03:25]: "We're here with Misty and Dennis Akers from the Candle Pour in Tampa, Florida. It smells amazing. Really cool spot."

Dennis Akers emphasizes the experiential aspect over merely selling candles:

Dennis Akers [07:03]: "99.9% of what we do is actually not about candles. It's about making you feel welcome, enjoying yourself, having a fun experience."

Launching The Candle Pour: Challenges and Triumphs

Misty and Dennis recount the nerve-wracking experience of opening their first location:

Misty Akers [07:13]: "Terrifying. We had our initial friends and family support, but initially, traffic was low."

Their breakthrough came through social media word-of-mouth:

Misty Akers [07:28]: "People started to come in, they were sharing. Other people saw it and decided to visit."

This success paved the way for rapid expansion, with plans to open a fourth location in Sarasota.

Financial Foundations and Brand Protection

When asked about funding, Misty reveals they self-funded their first location, highlighting the importance of financial planning:

Misty Akers [08:16]: "We self funded our first location... But explaining the business idea was challenging."

Addressing brand protection, the couple discusses trademarking their business name and logo to safeguard their unique identity:

Dennis Akers [21:03]: "We are the Candle Pour, but we are wick Candle bar doing business as the Candle Pour because 'wick' is too commonly used."

They share a cautionary tale about an imitator attempting to copy their brand, underscoring the necessity of legal protection:

Misty Akers [21:07]: "Someone was copying our logo and confused our followers. We had to utilize attorneys to protect our brand."

Utilizing Intuit QuickBooks for Business Management

The discussion transitions to business operations, with Misty highlighting the role of Intuit QuickBooks in streamlining their financial management:

Misty Akers [19:09]: "Intuit QuickBooks was one of the first things we did... It makes it so much easier, especially for a novice business owner."

Janice echoes the sentiment, noting that QuickBooks is essential for many accountants when collaborating with clients.

Navigating the Pandemic and Adaptability

Dennis and Misty reflect on the impact of the COVID-19 pandemic on their business. They adapted by shifting to virtual candle-pouring experiences during lockdowns, ensuring staff retention and customer engagement:

Misty Akers [15:07]: "Year two was real weird because we had to close for five months and move everything online with virtual experiences."

Their resilience enabled them to navigate unprecedented challenges and continue growing.

Essential Business Advice: Hire Slow, Fire Fast

A pivotal moment in the conversation centers on hiring practices. Misty shares the invaluable advice:

Misty Akers [27:53]: "Hire slow, fire fast... Don't hire out of desperation. The wrong person can taint your environment."

Dennis concurs, emphasizing the importance of maintaining high standards to ensure team cohesion and business integrity.

Unexpected Challenges in Entrepreneurship

The couple candidly discusses unforeseen hurdles, such as managing sales taxes, insurance costs, and complying with ADA regulations for their physical and digital spaces:

Misty Akers [29:24]: "Sales taxes don't go to where they need to go. You have to physically file with the state."

Dennis Akers [31:05]: "Brick and mortar businesses have ADA requirements... Digital compliance is equally crucial."

Their experiences highlight the multifaceted nature of running a business and the necessity of meticulous planning and legal compliance.

Building a Legacy and Future Aspirations

Misty and Dennis express their long-term vision of fostering a supportive environment for their employees, aiming to empower them to start their own ventures:

Misty Akers [16:17]: "My ultimate dream would be to have an employee who's been with us a few years and then opens their own business."

Dennis adds a personal touch, reflecting on the diverse skills he brings to the partnership:

Dennis Akers [16:19]: "I've done photography, video work, real estate, and more... I'm her chess piece, where I can help and move forward."

Favorite Scents and Personal Touches

Adding a personal dimension, Misty and Dennis share their favorite candle scents, linking them to meaningful memories and aspirations:

Misty Akers [33:01]: "Tomato leaf... brings me back to being little on the tomato farm with my dad."

Dennis Akers [33:20]: "Seaside Villa... it evokes the feeling of a vacation, a place where you can relax."

Closing Thoughts and Takeaways

As the episode wraps up, Janice and Austin reflect on the key lessons from Misty and Dennis’s journey:

Janice Torres [34:31]: "When you're starting a business, there are so many things you can plan for, but also many unexpected challenges."

Austin Hankwitz [35:05]: "Starting a business can be a step-by-step process... Once you have it running, there's a lot to look forward to, like expanding."

The guests leave listeners with actionable insights on planning, brand protection, financial management, and the importance of adaptability in entrepreneurship.

Conclusion

This episode of Mind the Business: Small Business Success Stories offers a comprehensive look into the entrepreneurial journey of Misty and Dennis Akers. From the inception of The Candle Pour to overcoming pandemic-related challenges, their story underscores the importance of resilience, strategic planning, and the right support systems in building a successful business. Aspiring entrepreneurs can draw inspiration and practical advice from their experiences, especially regarding financial management with tools like Intuit QuickBooks and the critical nature of brand protection.

Notable Quotes:

• Austin Hankwitz [01:13]: "The first business I had was in eighth grade... I made some quick money."
• Dennis Akers [07:03]: "99.9% of what we do is actually not about candles."
• Misty Akers [27:53]: "Hire slow, fire fast."
• Janice Torres [34:31]: "When you're starting a business, there are so many things you can plan for, but also many unexpected challenges."

Resources Mentioned:

• The Candle Pour: thecandlepour.com
• Intuit QuickBooks: quickbooks.intuit.com

For more insights and stories on small business success, tune into future episodes of Mind the Business.