You might be tempted to build and launch your very own private label skincare line, but there are a few things to know before starting the process.
The world of beauty and makeup is at an all-time high. That’s because more products are launching by the day, but many are also failing.
Such huge competition is only healthy for the industry but reflects negatively on those that don’t have the perfect product. As such, it’s important to know how to build your private label skincare line and think things through before making the decision.
So, without further ado, let’s start.
1. Determine the Direction Of The Skin Care Line
The most important think about how to build your very own skincare line is to determine the direction. This will help you in the future when it comes to strategy and execution. And like every other business venture that has ever existed, planning is key.
But, since we’re here to help, here are your options.
Natural or Organic
The skincare industry is filled with brands that create products derived from natural and organic ingredients. As such, this might be your best option. Seeing as you cannot go for anything artificial in this day and age, a natural and organic solution will do more about your business than you could imagine.
Vegan skincare products are emerging by the year. However, it’s important to note that your target audience will be slightly smaller because of it.
Since vegans won’t use any product that has animal ingredients in it, you can quickly cement yourself as one of the leaders in the industry if you do things right.
Vegan, natural and organic aren’t your only options when it comes to building your skincare line. You could separate yourself from the others if you decide to create something niche and exciting.
For example, you might focus on a specific age group of sex. Your skincare line could be designed for new moms or people of older age.
The options are truly limitless and endless when it comes to choosing a niche direction. All you have to do is decide on what that is.
2. Create the Brand Itself First
Now that you’ve chosen a direction, it’s time to create the brand itself before building the skincare line.
A brand is far more than the name of the company. This will be your identity and you need to look good in front of people if you are to do business. A brand is everything related to your business. It involves the logo, the company name, the company colors, the philosophy, and everything else that makes you unique.
When it comes to making a skincare brand, the challenges are numerous and plenty. It’s not easy to create a brand, as it takes years for everything to fall in place.
Building a brand is the most challenging part of creating a skincare line, as the industry relies on positive experiences and reviews. As such many of the leaders in the private skincare industry, such as Sbellus, have gone through a lot of changes until they hit the nail on the head.
3. Create A Long-Term Plan
Nothing can sustain itself over a longer period of time if you don’t plan for it. Naturally, a company is meant to exist for years, so you need to create a long-term plan.
This one is easy to speculate as all you have to do is to simply imagine what your skincare line will look like in years to come. Will you have dozens if not hundreds of products by then, or will you stick to an original few for authenticity?
Do you plan on opening another store, or will you focus solely on eCommerce? Or perhaps you’re thinking about launching other products outside the skincare line?
Regardless of what the answer to these questions is, you need to have one none the less. Simply thinking about it isn’t as straightforward as you think, as it takes a lot of knowledge and experience to know whether something is possible or not.
In the meantime, stick to building a strong foundation that will be there in hard times. If a product launch fails and doesn’t sell, you need to have an excellent backup that will cover the losses.
Planning is always important when building anything and it will help get you over the line.
4. Define the Budget and Timeline
This one takes a lot of thinking as it can potentially make or break everything you’ve so far worked on.
Namely, it’s important to know how much the entire skincare line will cost you. This takes into account manufacturing costs, logistical costs, packaging, ingredients costs, etc.
But this one can easily be covered if you also determine the price of each product. That way, you’ll know how much it will cost you to manufacture a single product.
When you calculate the initial price, you can always go a few notches higher. Be careful, though, as you don’t want to scare people off. Since people don’t know about you, you cannot go and sell your products at $100 apiece.
You need to price reasonably as no one would buy a product that’s too expensive or too cheap.
5. Talk With Professionals
Like we mentioned in the beginning, competition is healthy when it comes to any industry. More competition means more products for the public. But it also means brands will need to pay more attention to their products.
If a brand suddenly starts doing a bad job with new releases and launches, then there will always be another one ready to take their place.
At the end of it, you need to get in contact with professionals from the industry as they know the ins and outs. Getting in touch with other private skincare lines will help you uncover some of the bumps we didn’t get to mention in this article. Don’t expect anything else though, as this is still a dog eat dog world.