If you’ve been thinking about getting into the skincare business, you may be making a very wise choice as it’s a hugely lucrative industry.
In 2021, the size of the skincare industry globally was estimated to be over $155 billion, and as consumer buying habits change, the chance for new businesses succeeding has been better than ever.
So, if you’re ready to get your skincare brand up and running, here are some of the best tips that we have to share to get you started.
What’s your niche and USP
Like any business, you need to first think about what the goals of your brand are going to be, and how you can make your products stand out from your competitors.
Maybe your niche is teenagers who suffer from acne, or older people who are trying to reverse the signs of aging. Remember you can broaden your brand in time, but it’s best to narrow it down slightly at first as you will find it easier to target your main market.
Get to know the legal requirements
Although skincare is a fun industry, there are a lot of rules and regulations that you must adhere to. Your products must have to follow strict requirements to ensure that they are safe for people to use, you’ll also have to make sure that all your products are labelled properly too.
If you need help with figuring out what rules you need to follow, you might want to find a lawyer.
Take time finding the right manufacturer for you
Unless you’re making all of your products at home, you’re going to want to find a good manufacturer to formulate all of your products.
You want to find a trusted manufacturer who understands you and your brand and can make you high-quality products that customers are going to love.
We’d recommend taking your time with this part, as you want to get it right. Take time to visit and talk to different manufacturers, take tours of their factories, and really think about your decision before selecting your partner.
Think about how you’re going to market your product
Our final tip is for you to decide on how you’re going to market your products so that your customers will see it.
A lot of these decisions will be based on who your customers are, for example if you’re targeting a younger audience you’ll want to be on social media, if you’re targeting a much older audience you might think of marketing through TV adverts, radio, or magazines.