How do I Start a Beauty Brand?
Demand for beauty products is rising, especially for products that are able to differentiate themselves and deliver something new and exciting. This is a rapidly emerging area with numerous business opportunities available to ambitious entrepreneurs. According to the US Small Business Administration, there are more than 30 million small businesses across the country today… why not make one of them yours?
But how do you start a beauty brand?
The First Steps
The first and most important factor to take into account is local regulations. These regulations determine how you can legally formulate products, what sorts of products you can launch, and whether you’ll need to apply for any special licenses. It’s also vital that you register your new business so that you’re ready to start selling and distributing.
Another aspect to consider is what you want your beauty brand to look like. It’s a good idea to conduct market research to prove demand for a potential product before you invest in it. Try to balance market opportunities with established, in-demand niches.
The beauty industry is not quite as heavily regulated as others, so it is possible to formulate products at home. However, with a need to comply with strict health and safety legislation, many beauty brands instead opt to partner with an external lab.
As well as ensuring your products are created in a sterile and germ-free environment, there are a number of other benefits to working with a formulation partner. For example, cosmetic manufacturers have a pre-existing network of raw ingredient suppliers, and can generate custom formulas or white label products. If you don’t have a strong background in chemistry, using a white label formula can give you peace of mind that your products are safe and compliant, while also being highly effective.
When checking out possible manufacturers, it’s a good idea to select a partner that will produce small batches to help you monitor market performance before scaling up.
Marketing & Selling
Once you’ve got your products ready to go, and your business has been successfully registered, it’s time to start building and promoting your brand. This begins with developing your branding and choosing packaging that conveys the right message.
You may choose to sell your products online through your own website or through an ecommerce partner, or you could begin to approach stockists and generate interest from brick and mortar retailers while ensuring you market your brand using relevant channels and improve visibility to help you stand out and make a name for yourself.