There’s a lot that goes into learning how to start a supplement company so it’s important to do your research and make a solid business plan before you get started. Take some time to determine how you’ll address key components, such as product supply, manufacturing, marketing, packaging, and distribution.
Use the quick guide below to create a clear plan for success as you get ready to start your supplement company.
Research In-Demand Supplements
Begin by making a list of products you’d like to include in your inventory. While researching how to start a supplement company online, make sure to investigate which products are currently in high demand, as well as those that tend to consistently do well over long periods. Take a look at the most popular and most effective formulations to see which ingredients make the best supplements.
Define Your Audience
Once you have a pretty good idea of which products are likely to be your best sellers, consider who is most likely to use them. You’ll have to center your branding and marketing plan around reaching the right demographic, so you’ll need to understand exactly what that demographic is.
Will you be targeting twenty-something fitness fanatics, busy working-class adults, or parents in their thirties and forties who just want to “get their body back” after having kids? Will your products focus on weight loss, nutrition, energy, or all of the above? Are you trying to create supplements that are affordable to everyone, or a high-end product for those who are willing to pay a little more?
Research the Competition
The next thing you’ll need to do is check out other companies in the industry. Find out what they’re doing that works well, what products they offer, how much they charge, and most importantly, what you can offer that they don’t. Look for ways to improve on their strategies and formulations. For example, can you market to a group of people they’ve overlooked? Are you able to add or remove an ingredient that will make a better product?
Choose a Supplement Manufacturer
If you’re just starting your business, it may not be possible for you to manufacture your supplements on-site. Many larger companies also choose to outsource supplement manufacturing. Here are some reasons why:
- No need for on-site equipment, ingredients, storage, and packaging
- Increased efficiency
- Reduced production costs
- Access to less common and higher quality ingredients
- Improved quality control
- Marketing assistance
Look for a manufacturer that can produce both branded products and custom formulations. A “turnkey” manufacturer is the best route because they’ll be able to help you with a lot more than just creating products. They’ll provide services for research and development, packaging, labeling, distribution, and more. You’ll also want to make a list of any other requirements you’re looking for and questions you want to ask. Don’t be afraid to compare a few different private label providers to find the one that feels like the best fit.
Create Your Supplements
When you work with a supplement manufacturer, they’ll have access to brand formulations you can offer to your company’s consumers. They’ll also be able to help you research, create, and test custom formulations that are unique to your business, and they can offer you a wide variety of ingredients.
Build Your Brand
Now that you have a product to sell and you’ve narrowed down your target clientele, it’s time to build your brand. You want your labels to be memorable and eye-catching, as well as informative. Remember that your brand represents you and your company, so choose a design that feels true to your mission and appeals to your target demographic.
Make sure that your labels include any information required by the FDA, and list all the ingredients used to make the product. Use high-quality photos, videos, and testimonials from real customers to build trust. You can also contribute to blogs to show that your company is knowledgeable and reputable within the industry.
Sell Your Product
Finally, it’s time to get the word out about your new company and get those products moving. Use the information you gathered about your ideal customers to come up with ways to get your products in front of them. Highlight what makes you stand out from your competitors and what problems your product will solve.
Soft Gel Technologies
Contact Soft Gel Technologies to learn more about how to start a supplement company and how you can benefit from collaborating with a turnkey manufacturer. Request a free quote today.
