“Wow! I had made a huge amount of sales”. When Miss Braganza woke up one fine morning, she found out that her personal care brand attained remarkable sales. How?
The field of business and entrepreneurship is getting wide recognition. People nowadays are coming up with a new stream of ideas. A lot of ideas are gaining popularity. One of them is a personal skincare business. This industry is growing rapidly, and there are millions of niches where you can make and sell your specific products.
A study by NPD Group has shown that cosmetics and skincare is the fastest-growing consumer product category. Moreover, it has seen an 8% annual growth in recent years. Do these statistics motivate you to start something on your own? Then keep reading!
Generate a plan
It is the first step and the most challenging one. Benjamin Franklin has rightly said that if you fail to plan, you are planning to fail. Therefore planning is necessary. Create a blueprint for your business as it will lead you to the roadmap to follow. It will help in saving a lot of time, money, and hassle. Your plan should include an overview of the mission, objectives, target market, and startup cost of your business.
Develop a product
Choose a center attraction for your product line. This means selecting the main product that you will sell. It is also known as a hero product. For example – If you use hand and face cleaners, then starting to sell it would be right for you. Deciding the main product will reflect your knowledge and expertise, therefore choose wisely by doing proper market research.
Add a few products that support your main product
Select some products that will uplift the sales of your hero product. For instance – If your hero product is face cleaner, you can also choose supporting products like moisturizers, towels, etc. This helps in increasing the potential revenue of the main product.
Create an online reach
Research your product inside and out. This will make you more professional and fruitful while pitching the potential customers and investors.
Let’s decide on packaging
This aspect will take a lot of brainstorming. How should you design your packets? What all colors will it include? Colors will add aesthetic appeal to your product so packaging should be done wisely. You may think that this aspect does not hold much importance. But according to the professionals at Signature Filling Company, excellent packaging leads to an increase in consumer engagement by 30%.
Marketing strategy-Use Instagram for capturing the highest profit
Develop a mind-blowing marketing strategy. Nowadays, Instagram is trending. And Instagram influencers can really take your business to the next level. According to statistics, if you have a brand with more than 20000 followers, you can earn $20000 revenue each month. Besides, try to build your own social media presence.
With these strategies, you can also reach the highest sky like Miss Braganza. And when you are doing this to build a personal care brand, you are sure to blossom. So, show some self-love to yourself with the personal care products.