Tips For A Successful Private Label Skincare Brand
Thanks to developments throughout the beauty business and skincare industry over the past few years, owning your private label skincare line is easier now than ever before. People all over the world have something to bring to the table, and the skincare business is booming.
And if you want to run your own skincare line and get into the world of beauty manufacturing, it's a great time to do it— so, read on for information on using a private label manufacturer, how to start a skincare brand, marketing, and much more.
Running a Private Label Skincare Brand
Starting any business of your own can be scary, yet very fulfilling. You get to be your own boss. You understand the dream that you want for your business, and you are set to achieve it. Congratulations on deciding what business you want to venture into!
The skincare business is a very lucrative one, as all its facets are profitable in their own right. In 2020, the skincare industry was estimated to be worth about $140.92 billion, and it has been predicted that by 2025, it would be at around $716.7 billion! Yes, it is that lucrative— goldmine, in fact.
Now that you have shown interest in starting your own skincare line, you can be a part of the millions of people achieving their business goals from this goldmine. And because we want you to succeed, we’ve compiled for you some tips on how to run this business successfully.
Running any business requires proper planning and implementation, and that’s what this post is all about. This post will explain everything you need to know about running a skincare brand successfully. It would tell you about some of the best practices of running a successful skincare brand.
By implementing these tips that we would show you in this post, you will be off to a great start in your business.
Well, let's dive right into it.
How To Run A Successful Private Label Skincare Brand
Starting a skincare brand and business is not the easiest task, of course, but there are certain steps that any new business owner can take to make the process run smoother. Read on for our top 8 suggestions on how to run your private label brand with success!
1. Find Your Niche
The skincare industry has a variety of niches for you to deal in. Do research on your target market and what they need at the moment, and pick products that satisfy that need.
The niche that you choose should be a profitable one. When you don’t meet people's needs you would find it difficult to rake in the cash! Do enough research!
2 skincare niches that are taking the spotlight in the beauty industry right now are Organic skincare and Vegan skincare. Deciding early on is key, as it will change the entire way in which you approach the product you create and the entire business process.
For example, if you start a skincare business specializing in one of these natural skincare niches, deciding on the materials that go into your products is essential. From eco-friendly packaging to sourcing the right all-natural facial oils for a lotion base, your nice will dictate your product range, and at times, how you price skincare products.
So, start with the niche— don't be afraid to dream up some great ideas that relate to your passions and why you are starting a skincare business in the first place. Then, study more! Talk to experts! Research high and low, and when you finally decide on which niche you’d be pursuing, it should feel exciting and like the right fit for your interests.
2. Identify Profitable Products Within Your Niche
After choosing a niche, you should narrow that broad niche down to specifics. Identify what products would be more profitable for you in that niche. For example, if you have chosen to go with the organic skincare niche, what particular product do you want to sell under this niche? Organic body washes? Organic scrubs? Organic body or eye creams?
Your options are expansive!
We recommend that you start with a few specific products because as a new business, you build customers' trust when there is consistency. You want to build an image for yourself with that product, and as you improve, you can add other new products to your skincare line.
Starting with a very wide range of products can be a little chaotic because customers might prefer one product and not like the other, leaving you with products that you can’t sell because people don’t want them. This will make you lose a lot of money, including new sales and even initial investment.
After discovering the products you want to be known for, you’ll still have to produce them. Let's see how we can make this dream come true.
3. Find The Right Private Label Skincare Manufacturer For Your Brand
The best way to start a skin care brand is to find a private label skincare manufacturer. What this company does is provide you with already manufactured products and all you have to do is to put your label on them— hence, private labelling as a business idea and sales method for your skincare brands!
This is the easier and faster route compared to manufacturing your own product. And let's not forget that it is also more profitable to you and your business.
This private label skincare company has gone through all the processes of acquiring raw materials, getting the required certifications, carrying out proper chemical research to know what raw materials don't mix well, even down to the shipping and all that hard work. All you need to do is to come in and check some samples, and if you like them, you can place your order.
Don't know any private label skin care companies? Check out the Australian Private Label (APL)— a top-notch private label skin care manufacturing company that is ready to bring your skincare business dreams to reality.
4. Start With Samples
It is always important to set a little money aside for purchasing samples. This is so that you can run a small test on potential customers to know if they would like the product that you plan to sell.
This real-life test should be carried out on your prospective target market, to know how receptive they would be to the product. This test is important to determine whether or not you should still carry on with the product that you plan to sell or if there is a need for a reconsideration of the formula.
Test your product and consumer base with samples is important for two primary reasons: raising brand awareness and assessing customer demand.
Most people love a freebie, so providing samples of your products is a great way to increase marketing to potential clients. This is basically creating a new window for your sales channels by simple offerings for people to try out first. Plus, you don't have to waste resources, costs, or your time on products that people don't enjoy samples of. Then you can focus on the products that are popular and have high consumer demand to streamline the manufacturing and sales process, so samples are worth investing in.
5. Start With Smaller Orders
After testing the samples and if the target market likes the skincare product you offered, then you can go ahead and order proper products to start selling. But don't get carried away and start placing huge orders!
Start small and as you make more sales, you can order larger quantities. This is so that you don't lose a lot of money if no one likes the product.
A good private label manufacturer would allow you to order small quantities because they want you to succeed, too. Don't worry— once your own skincare line is off the ground and running, you can start branching out in terms of your signature skincare products and even start experimenting a bit more!
But at first, until you have a chance to create a name for yourself within the realm of all other brands, and prove that your products work wonders, it's a wise decision to keep your stock to a minimum.
6. Decide On Where You Want To Sell Your Products
This is another important aspect of planning the success of your skin care business. There are a lot of options for you to choose from, but you want to choose one that is best for you and your business, and would be the best way to attract your ideal customer base.
You can decide to sell online by choosing any of the following options:
- Amazon marketplace
- Social media
- E-commerce stores
Or you can choose offline options like:
- In a physical store
- At the local market
- Give to other retailers
Don't forget to factor in the various costs associated with each option— from shipping on all orders to fees that come with running your own website or contributing to an online store, make sure to double-check the price tag attached to the different sales channels before committing.
7. Develop Your Brand Fully
It's important to have a fully-formed brand and company by the time your business is in the process of establishing contact with a private label manufacturer, figuring out sales, or getting in too deep. That way, you don't have to revise any of your brand designs or company's visual identity mid-sale or mid-marketing!
This includes creating a great business name that fully encompasses your goals and makes you stand out from the crowd. There are plenty of skincare products and manufacturers out there, so starting with a fantastic company name is a must— particularly one that you could also see yourself growing with as your business might take on other products.
Come up with your own logo and make it visually appealing. Someone who shops at an online store is typically motivated by the appearance not only of the products on the website, but the company logo, too! This is also applicable for selling your products in a physical location, such as a retailer, as marketing is made much easier with a catchy name and unique logo.
And don't forget to design the packaging all your products come in. After all, it's the first taste of your brand that customers have, and opening up your products should be part of a great customer experience. So, create packaging that really intrigues and resonates, and it will work as latent marketing within a buyer's own home!
8. Launch Private Label Skincare Brand Content Marketing ASAP
Finally, getting your skincare line out there is all about marketing. Don't be afraid to hype up your business and products, including on social media and inside the beauty community. For example, if you can get influencers or buyers to post social proof of your product and its usability, new clients will likely find your company from further afield than you imagined.
We hope that you enjoyed reading this article and you got some ideas that would help you in your new journey.
Once again, congratulations on your decision to start a new business!