The rise of health and wellness today has turned the supplement industry into a commercial fortress. Now there are tons of supplement companies promoting daily and sports-related nutritional products in stores and online. If you want to get involved in the business, read this introductory guide on what to know when starting a supplement company. You’ll see that the type of products you sell, their packaging, and your marketing techniques all play a significant role in the success of your fledgling business.
Choose Which Types of Supplements To Sell
Your primary consideration is deciding which types of supplements you’ll sell. There are two main supplement categories: general health and wellness and sports. General health and wellness supplements consist of everyday supplements, such as basic vitamins, nutrients, herbal supplements, and so on. Sports or nutritional supplements are a bit more specific. These include pre-workout, protein powders, amino acids, and other products. Consider which ones you’ll focus on with your business. You can choose both options if you want to expand into both markets and increase profitability.
Design a Formula
You don’t need to create your own formula, but opting for a custom supplement line can help lead to success. Some companies opt for proprietary blends. These are prefilled formulas with a combination of ingredients and amounts. Proprietary blends are a time- and cost-saving option for those who simply want to release a product on shelves. Other companies choose to customize with their own measurements and ratios. While this takes more time and consideration, it shows customers you care about what you put in your products. Don’t forget to consider the type of supplement too. Capsules, tablets, and powders are some supplement types to keep in mind.
Consider Packaging Options
Another tip on what to know when starting a supplement company is the packaging. Product packaging is an essential element to any startup business’ success. The right supplement packaging attracts customers and highlights your brand. It also details consumer information, so your customers know what they’re purchasing. The packaging you choose helps dictate the success of that product. Whether carton, bottle, or single-serve packets, give your customers various options to choose from.
Market Your Products
Lastly, don’t neglect marketing. Advertising is another key element to succeeding in your business. With the popularity of social media and social influencers, there are many new avenues to promote your product line. Implement a brand ambassador program in which influencers market your products on social media. Also, customer reviews, paid ads, and email marketing are other avenues to utilize.
