This well thought out to-do list will cover nearly every aspect of getting you ready to start a successful supplement company. If at any point you would like to learn more or begin the process please contact Ion Labs via the contact form on our website to speak with a customer service representative.
- Acquire Funds to invest into a Supplement Company
Make sure that your business is prepared with plenty of financial backing. These funds can be acquired by taking out a loan or saving from previous business ventures.
- Brainstorm Product Concepts
Start thinking of what you want your brand to look like to the consumer. Begin thinking of different products you want to make and what would be best a good fit for your new nutraceutical company. The biggest supplement companies use manufacturers and fulfillment companies that offer a variety of stock private label products that are at the peak of market trends in the industry. This is perfect for start-up companies looking to hit the ground running.
- Determine Which Supplements
You Want to Sell There are several different supplements available for private label manufacturing. From brain support supplements to weight loss and diet supplements, there are endless possibilities. Pick a nutraceutical product that you wish to resell to consumers.
- Determine What You Don’t Want to Sell
Now that you know exactly which products you want to sell and eventually start marketing, make a short list of the nutraceutical products you do not want to sell. Make sure when you begin selling your product that you include this information in your sales script.
- Determine Products You Would Like to Emulate
The nutraceuticals industry has a wide array of products in the marketplace. Regardless of whether you want your product to be a whey protein powder or a brain supplement make sure to take notes on the specific design and marketing techniques of the product you wish to emulate. Use the internet to narrow your search.
- Identify Your Target Market
Determine right away who you want to buy your product. For example, if you are making creatine or protein you are more likely to be targeting active individuals and weightlifters. If your product is Biotin, then you are more likely target individuals who would like to support the quality of their hair, nails, and skin.
- Know Your National and Local Competitors
Make sure that you launch your supplement company with the understanding that there will be plenty of competitors. Know where your competitors are located and take note of their marketing strategies.
- Record Examples of Similar Products You Like
Go out to the supermarket or your local vitamin store and actually buy products. Take detailed notes about types of capsules, pills, colors and bottle designs that you would like for your own product. This is the market research that will make it easier when you are preparing for your first order.
- Research New Supplements in the Marketplace
The dietary supplement business moves in trends. If you do not keep up with these trends and make sure you are constantly in tune with the pulse of the industry, your business will fall behind.
- Write a Business Plan
Write a business plan and a proper course of action for your new supplement company.
- Begin Brand Development
When beginning brand development, you must make sure you collect all of your notes and determine a vibe and style. You want your brand to stand out amongst your competitors. Ask yourself: What makes your business and product different? Why will people gravitate towards your brand? What is the value of your product?
- Create a Product Name
Create a name for your product that you think transcends its presence.
- Design a Logo Hire a professional graphic designer to create your logo
If you have someone in your network that is capable of designing a logo that looks good on a website, marketing materials, t-shirts, etc. then hire them. Ion Labs has an in-house graphic design team that you can reference as a source of design help.
- Write a Mission Statement
Create a mission statement that transcends the nature of your business.
- Decide on a Business Location
When you are reselling, a product makes sure you have a professional address and avoid using your home address. In the case, someone looks up your business on Google Maps it will completely discredit the image of your business. Start off with a P.O. box prior to buying property for an office.
- Buy a Business Phone Number