5 insider tips to start your private label beauty business
Have you got some amazing ideas for a new perfume or perhaps a fancy nail polish range? Well, it’s an exciting time to own your own business, albeit a little daunting. How do you go from having great ideas to actually turning them into a successful business? Going it alone can be scary, but in the cosmetic world, working with private label cosmetics manufacturers could be a really smart move. We hope this article will give you some tips on starting up your own company and selling private label cosmetics.
What is a Private Label Cosmetics Manufacturer?
First of all, we should probably address this fundamental question: What is a private label cosmetics manufacturer? A private label manufacturer makes products for other companies and allows those companies to sell them under their own branding. A good private label cosmetics manufacturers are usually well-established, reputable manufacturers who have many years of experience within the industry.
Why should I use Private Label services?
There are so many great reasons to use private label cosmetics manufacturers, but the most prominent is probably the amount of time and money you save by doing so. First of all, since you don’t have to make the products yourself, you will have much more time to spend on other activities like marketing your products. Similarly, if you are trying to expand your range, you don’t need to start from scratch, as your private label manufacturer can make the product for you.
The start-up costs are much lower too, and you don’t need to worry about getting extra storage space for your new stock and its ingredients. It’s also a great idea if suddenly the demand for your product increases, such as around the holiday period. Having a private label cosmetics manufacturer who can meet this higher demand is priceless.
How do I start selling my own Private Label cosmetics?
So, now you know what it is and why it’s a great idea, how do you actually go about starting your own business? These 5 tips are a great starting place to help you get closer to your business goals. Stick with us and you’ll be selling private label cosmetics in no time!
Tip 1: Choose your private label manufacturer carefully
Since you are going to be developing a long-term relationship with your manufacturer, you need to ensure they are right for you and your brand. Do some research and check out their previous products to see that the quality matches your expectations. Pelham Private Label Cosmetics Manufacturers (that’s us), can usually provide samples and helpful advice. Just call and we’ll be glad to help.
Tip 2: Speak with your private label manufacturer first
You need to ensure you have a good relationship with your private label cosmetics manufacturer and that they understand what you are trying to achieve with your brand. Set up meetings, Skype calls or phone calls and make sure they understand your vision. Small misunderstandings in communications can lead to big mistakes in business.
Tip 3: Careful with pricing
When you negotiate the terms with your private label cosmetics manufacturers, you need to look out for hidden charges and establish whether there is a minimum order for your stock. They should also be able to help you determine what the retail price should be for your product. A sensible profit margin is usually around 50%, but you can increase this if you have a lot of other costs involved, such as a high marketing budget or custom packaging. It really depends how you intend to market your products.
Tip 4: Create a quality, sellable product
This seems obvious. But while your product idea might be really cool to you, it might not sell well. Your private label manufacturer should be able to give you great advice on how to turn your personal idea into a viable, successful product. Remember that they have all the experience in the industry, so if you can get some advice from your private label manufacturer, then it’s usually worth listening to. Pelham Private Label Cosmetics Manufacturers keep a close eye on trends in the world of cosmetics. Feel free to call and discuss your ideas with us.
Tip 5: Branding is key
Branding is more than just making your product look pretty. Take time to ensure your brand appeals to your target audience. Make sure it communicates the right messaging. Above all it should be different, you need to stand out and give consumers something to remember.
We hope that this article has helped you get a bit of a head start with selling private label cosmetics. You are about to embark on a very exciting, albeit scary journey, so we wish you the best of luck!