If you're tired of making money for others ...
And you want to build a brand of your own ...
Private labeling nutritional supplements is a path to success.
Selling big brand name products has some upsides, sure, but it is always highly competitive, margins are much lower, and the work you put in ultimately only aids another company. There are lots of good reason to invest in your own brand, especially in this brave new world.
In the past, when someone had the drive and desire to start their own product / supplements line (or many other product types), they faced a significant impediment in the sheer cost involved. For any single supplement, there is the cost of research, development, production, manufacturing, packaging, labeling, consumer testing, and more. Bringing a single supplement to market could easily cost six figures.
But in the new world of technology and with all the resources easily available to individuals, there are now ways to create and market your very own health supplement for a fraction of the cost. Manufacturers call it private labeling. Forward thinking supplement companies offer their own products in unlabeled bottles so that an entrepreneur / business owner can afford to buy smaller quantities of stock and then create their own label and brand.
Estimates now put private label products at over a quarter of all sales in supermarkets!
The benefits are many and the risks are few.
Benefits of private labeling:
Lower cost of entry - eliminate all the production costs, and buy a small quantity to start, allowing you to invest money in the critical areas of marketing and sales.
Proven product - you have the added knowledge that the product has a proven history and is successful. If the supplement already sells well, then you know that yours will sell well too. That is a fabulous foundation to build upon. Not to mention you likely have access to lots of consumer reviews that will help support your efforts in many ways.
Easy management - when you are a fledgling company on the rise, managing stock levels is critical to success, and not easy to do. Too much money in stock that sits on shelves is a sure path to trouble. Private labeling allows you to grow as fast as you like, knowing you will have stock always ready to meet increased demand. You don't need to worry about keeping enough on hand and guessing wrong. Furthermore, with the advent of e-commerce, a young business can still take a piece of a large market without having to compete for physical shelf space, a traditional barrier to market entry.
Time to focus on key factors - the fact that the production process is out of your hands means you are completely free to focus on the most important aspects: creating a strong brand and getting the word out. If you know how to create the right look and then get it noticed, you have the most important elements for success.
Flexibility - since you are unencumbered by many of the problems attendant to product manufacturing, you have the added ability to be flexible in your operations and responsive to market forces and changes. If a product popularity wanes, or a new product is exciting people, private labeling allows you to pick and choose from suppliers to put together your own line in quick order.
Build a future of your own - in this world, having a tangible business is important. You will be building brands and a business that will reward your best efforts. All the work that you put in comes right back to you and not to some big name brand or the like.
Finally, have others sell your brand - not only are you no longer investing energy in another company's products, but private label allows you to have others become distributors of your brand. Reap the rewards of having your own tangible product(s).
Choosing the best supplements to build your brand on:
When it comes to choosing the right supplements, make sure to do your research. Consider the company you are getting into bed with and make sure they are a good fit with your own style. Fortunately with the information age of the internet, it is easy to figure out which products would be a solid base for your business, so check reviews, sales figures, the company's policies, and the perception of their own brand in the marketplace. With this information, you can make the right decision and start building your own health supplements empire!
In the more than a decade that we have offered our own supplements for private label, we have seen a huge growth in the market. Business owners are starting small, taking advantage of the ability to be agile, adaptive, and cost effective, and finding solid success, and building a solid future. It's a brave new world full of opportunity for those who want their own slice of the pie.
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The opinions expressed in this article are of the author. Content and other information presented on the site are not meant to be medical advice or any substitute for professional advice, counseling, diagnosis, or treatment. Never delay or disregard professional medical or mental health advice from your physician or other qualified health provider.
