How to Start a Supplement Company
Starting your own supplement company can be rewarding and profitable. The supplement industry is worth $121.6 billion dollars and it’s only going to grow from here. With so much money on the table it’s tempting to dive right in.
There’s a lot of interest in the supplement industry and so many people wanting to carve out their own share it’s important to take things one step at a time in order to achieve lasting, long-term success.
Anybody can start selling the hottest new supplement but with patience and hard work you can build a great supplement company.
Custom or Private Label Supplements?
When you’re first starting out and don’t have a lot of experience in business or in the industry going private label is a good option. It’s a great way to jump start a business and start building your brand and getting your name out there.
However, to really expand your company and make a name for yourself, custom making your supplements is really the way to go. When you create a custom formula by contracting with a manufacturer, you can offer customers something that no one else has.
With custom supplements you have the power to adjust your ingredients, flavors, servings, etc. You have total control to be innovative in order to stand out from the crowd. And that’s exactly what you need in order to succeed.
Having an amazing product is key to business success. Some people would even argue that it’s the most important key.
6 Steps to Start Your Supplement Company
These 7 steps will help you get started moving in the right direction. While many entrepreneurs will tell you don’t wait, that you should start your business ASAP the piece of advice that seems to get ignored is that you still need a plan.
1. Research Supplements to Sell
It’s important to do your research to figure out which supplements you want to sell. Picking the right supplement to sell can make or break you especially when you’re just starting out. Check out the video below to find out how you can capitalize on growing supplement trends.
2. Choose a Business Model
There are many ways to start a supplement business: custom, private label, drop shipping. Each one has it’s own pros and cons so it’s important to decide which one is right for you. Here at Quality Supplement Manufacturing we specialize in manufacturing custom tablet, capsule and powder supplements. Check out the video below to find out why you should use contract manufacturing.
3. Design Your Supplement Formula
If you decide to go with a custom supplement you’ll need to design your formula. This isn’t as difficult as you might think but there a few steps that you’ll need to go through. We can help you with this process but it’s important that you know where to get started. Watch the video below to learn how to build your own custom supplement formula.
4. Design Your Labels & Branding
Once you’ve designed your formula it’s time to design you supplement label. Now is also the time to design your logo and decide what look and feel you want for your brand as a whole. This is another important step but you shouldn’t let this keep you from getting started. Below are a few hints on how to make your supplements stand out.
5. Setup a Website & Accounts to Sell Online
In this day and age every company should have a website. Even if you sell most or all of your supplements on marketplaces like Amazon and eBay. A website gives your brand more credibility. Speaking of Amazon and eBay it’s time to create an account to start selling if you haven’t already. After that it’s time to create product listings for your new supplements.
6. Promote Your Supplements
Now all there is left to do is promote your supplements! You can market your supplements with email, social media, Youtube, reviews, SEO and paid ads among other options. Experimenting with offers and marketing methods is important to find what works best for you.
The Takeaway
Starting a supplement business the right way is a lot of hard work but it will set you up for long term success. You can create a truly unique and remarkable product by addressing a problem in a unique way. This will help to establish your brand as innovative in order to capture the attention of customers.
We can help! At Quality Supplement Manufacturing we’ve been in the supplement industry for more than 35 years. We love helping businesses grow and we would love to help you too.
