So, you made your initial investment, started your spa or salon business, and now you are experiencing a steady flow of income. You are a full-fledged small business owner! Your staff and your business is growing. You are ready to increase your income flow. What can you do? Create your own product line!
There is a reason why your clientele base is growing. Customers are enjoying the experience your business has to offer. Now would be a great time to grow your business.
Many busy owners in the beauty industry rely on private label products to sell in their business. You may be tempted to private label, but why? A private label product is manufactured by a third party and sold under a retailer’s brand (i.e., your company). Private labeling may cost less than formulating your own products, but you cannot make changes to a private label. There could be a salon or spa right down the street selling the exact same formula. Nothing unique about that!
Creating your own signature line will help reflect your business’ unique style. You do not need to be an expert in product formulation. That is why you hire a professional chemist You can create products that are all-natural, organic, designed for a specific market, made with organic oils, whatever is your choice. It is up to you, the business owner, to decide on the ingredients you want. At the end of the formulation process, the product you create is yours. Make sure to work a chemist that offers you full ownership of your formula.
Once the formulation process is complete, design your packaging to reflect the branding of your spa. Understand that you are making an investment in your company. Do not try to cut costs with marketing or design. Hire professionals to help with your venture – graphic artists, marketing specialists, manufacturers. Make sure you present a clean, safe product that clients will want to purchase. As clients come in for services, you can offer these products in addition to the service to build upon each purchase. If you’ve already established a relationship with that client, they will want to support you. You can now offer package deals that include products and services. Now you’ve created multiple streams of income.
Now that you have a product line, you can create multiple opportunities for your customers. Attend a trade show, have a pop-up show, or invite your clients to a seminar that will educate them on your products.
For more information on how to start a product line for your company, visit www.freelanceformulations.com. The Business Development Specialists can advise you on the formulation process, connect you with a licensed chemist, and provide resources for you, such as manufacturers, graphic artists and other professionals that can support you on this journey.
Contact Freelance Formulations today!