Health and wellbeing is a trend that never goes away. Starting your own vitamin business can be a lucrative decision for you if you take the time before opening your store to research and build your knowledge of vitamins and their health benefits. People are always looking for ways to improve their health and wellbeing, from the New Year New Me types to those looking to reset their mental wellness. A quick scroll through Instagram will show you the work people put into their fitness and finding the right supplements to boost their overall health. Over the years dietary and particularly nutritional supplements have started to lose their association with fad trends and paid celebrity endorsements to become an essential part of the holistic health industry.
The supplement industry is booming at a time where physical and mental health is more important and widely discussed than ever. Simply by taking in the right vitamins you can start to see a lift in energy and mood that helps you to become the best version of yourself. The vitamin nutrition business is a fascinating place to work, and it gives a high feeling of personal satisfaction to know you are providing your customers with the tools they need to be healthy, both inside and out. Going into this industry prepared is the only way to succeed, so here are four things you should check before you start a vitamin business.
Set Up Your Game Plan To Cater Specifics
The first check on the list of any new business owners is to set out your stall as a company. What do you want to achieve with your vitamin company? Who are you marketing for and what is your strategy there? How much do you know about your demographic and your product? Before you even bother looking at locations or financing you need to know exactly what your inventory and company identity is going to look like. One clear voice needs to be heard across every aspect of the business; from the directors and shareholders to sales assistants and workers who put your goals into action. If you set up any company without properly thinking about it you will struggle to carve out an opening in the market you can thrive in.
Vitamins and other nutritional supplements cover a vast range of needs and you need to choose one niche and stick to it. Whether you want to help people with physical ailments or turn your attention to a more fitness fanatic angle you want the specific products and knowledge to fit that demographic. This will go on to inform your branding decisions and help you create an identity for your business. Think of it like a customer would: why should I buy from my company? Running a company means constantly asking yourself questions. Nothing should be left to chance – the last thing you want is having a buyer or manufacturer asking you a question you don’t know the answer to. Nobody likes to look like they are out of their depth and lose credibility among their contemporaries.
Look For Your Nutrition Manufacturer And Thoroughly Vet Them
The most important part of selling your brand-new business to a customer base is to have the highest quality products you can get your hands on. Your vitamin business will create, market and sell your supplements, but to actually produce your stock you will need to call on a manufacturer. Only the best and most pure products will do to sell your vision and get your foot in the door. To do this you’ll want to enlist a nutrition manufacturer that has the best credentials and cost-effective solutions for you. The trinity of qualifications you are looking for comes from the FDA, NSF, and GMP. With certifications from these three bodies in place a manufacturer can boast supreme quality control and a track record of excellence.
Delve deep and leave no stone unturned in your hunt for the perfect match. You’re looking for a long-term working relationship so the fit needs to be right. Check out nutrition magazines and blogs to find recommendations for your supplier. Do your research to make sure they have all the proper insurance documents and are in good standing with any other clients. They should check their batches regularly and have documentation of their findings to hand. If they offer drop-shipping delivery you have to make sure this is factored into the cost per unit to avoid any nasty surprises when you receive the bill. Having a supplier with regular and accurate delivery rates and the lowest cost per unit without sacrificing the quality you promise you’re onto a winner!
Get Your Branding Right And Be Flexible
Again, as with any new company trying to get off the ground, you want to do whatever you can to stand out from the crowd. Your target audience plays right into advertising and marketing, which is why your elevator pitch should have this in mind. Don’t be a rudderless ship! You will find your business lost in the sea of like-minded, more established names. Get your USP down from the get-go so you can work it into your marketing. Take time and put effort into the design of your branding and labels. Compare successful supplement brands to the ideas you have and see if there is anything you can use without making a copy version. Check the legislation related to your product to make sure you are incorporating all the facts you need.
You also need to master the balance between not wavering from your objectives and being flexible enough to change certain aspects as and when you need to. With new business comes a feeling out process as you dip into the market, so there will be an element of trial and error at first, which is fine! As long as you have an excellent business model and a sense of analysis when it comes to your campaign you can see what isn’t working and fix it early. Have a good foundation and expect to make mistakes; it’s how we all learn and get better.
Set Up For Success
In business you have to take risks to succeed. In the case of starting up your own health store, you need to have faith in your business model and trust in your nutrition manufacturer to deliver, so make sure you are well-stocked at all times in preparation for the customers flying in! The last thing anyone needs in their first months as a company is to run out of stock and see customers flock elsewhere. Once you have that family relationship built up with your manufacturer you will need to do the same with your customers. Make sure you’re doing everything you can to put the customer first. After all, their money keeps the lights on!
Get creative with your marketing and distribution to win over new customers. You don’t have to spend a ton of money either; set up a blog to introduce people to your values and what you can offer, or turn to social media for a massive reach. Using Facebook Ads campaigns can be a good way to drum up some specialized customers. If you know you have a good vitamin product then offer free samples around to local businesses that fit your demographic. No one wants to turn down free samples. Back yourself like any great entrepreneur does and see the difference that self-confidence brings to the marketplace.
While a lot of these points are industry-specific you should obviously know your stuff when it comes to the registering and business side of company startup too. This is where you, as the owner of the company, will spend most of your time while your staff handles the marketing and production. You’ill be solely responsible for securing all the permits vitamin and licenses you need to operate legally, so make sure you check your local and national business license requirements and meet them. Your next task will be to research and hire the right people around you to take on the heavy lifting of design and production to make sure that your customers come back for more after seeing positive results. The potential for growth is there with the right brains on board.
Remember: if you are unproven in the industry you’d better know your stuff! From the moment your store opens you want to hit the ground running with knowledge that can answer any question customers may ask. Get the word out through flyers and social media. Work with experts in the fields of biochemistry and biology to create the product. You should know what you’re talking about but you don’t have to be an expert in everything. An upside of being the boss is hiring the right people to do a lot of the thinking for you! Team your new research and knowledge with the four tips above and your chances of success in the health industry will increase vitamin exponentially.
