Private label supplements provide several benefits such as affordability, quick turnarounds and quality products that have large audiences.
However, if you’re choosing to create a private label supplement, you’ll need to ask yourself a few questions to outline your goals, expectations and target audience.
You’ll also need to invest some time choosing the right manufacturer to do the job. We’ve outlined some of the most important questions you need to be asking to help you prepare for your new private label supplement.
Question #1: How Quickly Can I Receive a Finished Product?
If you are looking to get a new product out to your audience within two weeks, Ameri-Kal has the solution for you. Private label supplements are products that we have pre-manufactured, meaning all you need is a custom label.
These options are formulated to offer the best quality available on the market. Whether you’re wanting to provide anxiety support or probiotics, we have a formula that is consumer ready.
One of the benefits of having a private label supplement at your disposal is the readiness of the product to meet your needs. There will be some stock available for you get get started on your new line or to bolster a variety of products you already offer.
Knowing when you can expect your finished product will impact when you start marketing to your buyers and taking orders.
Question #2: Do I need a complicated formula?
One of the perks of private label supplements is the simplicity they offer. What you get is a product option that is simple, stable and customers typically know what to expect.
If your consumers are asking for products like magnesium or iron, there is no reason you need to reinvent the wheel. Instead, by using a manufacturer you trust, you can provide them a quality product quickly with a smaller investment.
Question #3: Is this my first supplement?
Private label options are perfect for novices in the supplement industry. You might have a great idea for a new supplement that you think will be a big hit. However, you might not have a strong customer base or email list to sell to yet.
Starting with a private label supplement is an inexpensive way to experiment in a new market. It’s a perfect opportunity to test your newest label design and see if you can gather a large following, so you’ll have buyers for your custom formula in the future.
Question #4: How many units do I need?
When you’re purchasing your first shipment of supplements, sometimes it’s less risky to start small. We will ship private label supplements with as few as 300 units, which means you won’t need massive amounts of storage space to get started.
Question #5: Does the Manufacturer Ensure Quality?
A quality manufacturer will have all the proper certifications so you’re customers know they can trust the product. You want a manufacturer who is FDA registered, GMP certified, and possibly certified organic.
You might want to also consider touring the facility to witness how they create your products.
Question #6: What is my budget?
Private label supplements are cheaper to produce than custom label supplements. If you have a tight budget, this is a great option. When you’re determining the right budget, you’ll also need to consider the cost of marketing, storage and shipping.
Question #7: Are there any fees or additional charges?
It’s important to know precisely how much manufacturing your private labels will cost. Ask your manufacturer if there are any additional fees or charges not listed on the price quote.
Question #8: Do I need to outsource graphic design and marketing services?
Sometimes it’s best to hire help. If you’re not an experienced designer, then you’re taking a risk by not outsourcing the work to a professional. Consumers definitely judge a book by its cover when it comes to purchasing a new supplement.
Question #9: How will a manufacturer handle problems that may occur during the purchasing process?
Sometimes there are delays in the manufacturing process. You’ll want to know how a manufacturer will communicate with you if any problems occur. It’s also important to schedule flexibility into your marketing campaign. A good way to do this is by telling your customers the product will be ready to ship a week or so after you expect to receive your newest private label supplement.
Question #10: Do I need financing options?
Cash flow is key for having a successful supplement company. Will you need financing options to help your business run smoothly? At Ameri-Kal, we offer flexible financing to give you the best chance at creating a profitable product.
Question #11: Who is my target market?
Your target market will determine everything from the product you create to the label you design. Older populations might need larger lettering for example. Younger audiences might prefer crisp, clean labels. Different consumers also care about different benefits, so your marketing strategy is highly dependent on your target audience.
Question #12: If they are already buying this supplement, who are they buying it from?
When you don’t create your own formula, the only negative is there are probably plenty of options for consumers. Determine who your target market is currently buying their supplements from, and outline what makes you different from the competition.
Question #13: Why should they buy the product from me and not a competitor?
Once you know what makes you different, then you can determine why they should buy from you and not the competition. You have to articulate this argument well to win new buyers.
Question #14: How will I reach new customers?
What’s your strategy to grow your customer base over the next few months or years? It helps to create this plan before you start the manufacturing process. The “build it and they will come” mentality isn’t a path to success in the supplement industry.
Question #15: Do I need a website?
In line with reaching new customers, you might need to build a website to both sell your product and educate the consumer. For example, someone might not know why they need raspberry ketones, or why your product is the best option.
A website is your home-base for your brand and is a perfect platform to grow your business, especially after you start introducing multiple products to the market.
Question #16: What social media platform is the most important for me to be on?
Investing advertising dollars on social media can be an effective way to find new customers. If you decide to communicate with your customers on social media, you’ll have to choose which platform your customers are most likely to spend their time on.
For example, younger consumers might spend more time on Instagram and Twitter, and older consumers might spend more time on Facebook.
Question #17: What is my pricing strategy?
Of course, you need to know how much it’ll cost to manufacturer you new supplement, but how much will you charge your customers? Your pricing strategy might be the difference of a wildly successful supplement company and a flop.
You’ll have to investigate your competitors pricing strategy as well as what your customers expect to pay for a product like yours.
Question #18: Should I be on Amazon?
Much like choosing to build a website now or later, you’ll also have to choose whether or not you’ll put your products on Amazon. Most consumers want a convenient way to find their favorite supplements, and Amazon offers quick deliveries and options to order.
Question #19: What does success look like? What does failure look like?
Before your product hits the shelf, it’s best to outline your expectations. What goals do you need to reach for you to consider your newest supplement a success? Outline your goals, create a path to achieve them and give yourself metrics to measure success or failure.
Marketing plays a critical role in a successful supplement launch. To help you design a marketing strategy, we’ve created a free marketing toolkit that you can download today.
To learn more about our private label process, or to receive a cost estimation on your next product, give us a call at 405.225.1804.