In today’s world, we can find a variety of dietary supplements in regular supermarkets, in pharmacies and on hundreds of websites. But there is still a lot of demand for them, and while some people are looking for supplements for general health improvement, others may want to buy more specialty ones, like a high-quality PMS supplement, for instance. And if you are reading this article, I assume you already have a great product vision and can’t wait to bring it to life.
But before you invest your life savings in your own dietary supplement brand, you need to consider the following things:
Learn By Example
Great success stories don’t appear out of thin air. They demand patience, diligence, and careful planning. Examining what your competitors have to offer is a great strategy to set the parameters of your future brand. And by exploring social media pages or the websites of successful brands, you’ll stay on top of the latest trends, developments, and products.
Match Your Manufacturer.
Before making any decisions and starting to spend money, make sure to research the nearest manufacturers available, their price ranges, and the order quantity needed for startups. Small changes in prices and order delays can really hurt your startup business, so make sure to hire a manufacturer that will lock in prices and guarantee delivery.
Build Your Business Profile.
Determine your target audience’s interest in your product and calculate potential profits. The questions you need to be answered at this stage are: Is there a genuine market opportunity? How much will you charge for your product? How much does it cost in comparison to your competitors? Are you able to turn a profit?
Create Your Concept.
At this stage, you’ll dive deep into the specifics of your idea to see if there’s a market for it. This is where you determine your competition, your market, and all the product attributes, like what ingredients you want to use and their amounts.
Create the Content of Your Label.
This is the time for detailed research and reviewing your ingredient list. And you want to include every single ingredient, no matter the amount!
Get Ready for the Regulatory Review.
When the label list is complete, have the project reviewed for regulatory compliance. This is the step where you make sure that your product won’t run into legal or regulatory issues. This is also an opportunity to check for any missing important information on your label or the need for major label revisions, which can have a significant impact on your product.
After passing the compliance review, you can start placing orders with your chosen manufacturer. This is the phase where you start working on your product by developing product samples, refining your formula, and getting a supplement facts table.
Design Your Dream Label.
You can commission your manufacturer to create your label or work with your own designer. Label creation can take time and should be done in parallel with the compliance review.
One Final Review.
The product must undergo tests before you release it into the market. From pesticides and heavy metals to microbial testing, your product specifications will outline all the tests you need to do.
Market and monetize.
This is where you go digital. Build your web presence, audience, and brand by creating a web page, signing up for local listings, and using social media to promote your product.
If you can build a product that consumers notice, remember, and think about when the category “dietary supplements” comes up, you have set yourself up for success. The more you can convey the authenticity of your product and deliver on what you are saying, the more people will gravitate towards your brand.