According to The NPD Group, a market research company, the beauty industry is the fastest-growing consumer product category, with an eight percent annual growth in recent years, primarily driven by makeup sales. Starting your own line of skin care products is a potentially lucrative business idea. The market can be difficult to break into as startup costs range from $10,000 to $15,000. However, with the education, legal, manufacturing and marketing suggestions here, you can better navigate the challenges of your skin care line launch. - By 2020, the global value of skin care products is expected to reach £147.3bn, according to Technavio.
However, as consumer needs change due to time-pressured lifestyles, concerns about pollution, product safety and efficacy and the desire for ingredients that keep the skin looking healthy, manufacturers are presented with new opportunities for market growth.
Learning Everything You Can
When launching a skin care line, focus on the type of products you want to make. For example, you can make soaps, bath salts, aromatherapy blends, lotions or some combination of products. It is important to choose a hero product that is supported by a few extra products. A hero product is the main product that you sell. No matter what product you decide to make, it is important to learn as much as you can about it. You can start by looking for books and online sources such as the From Nature With Love website. If they are available in your locale, take classes with qualified instructors. Formula Botanica is a great example of an accredited online school for organic cosmetic science.
Legal Requirements to Run Your Business
The requirements to open a handmade cosmetics business are similar to other small business. Your cosmetics must be safe for consumers under customary conditions of use and must be properly labeled. While it is not against the law to manufacture cosmetics from your home, it is your responsibility to make sure that it is done safely by Follow the Good Manufacturing Practice (GMP) Guidelines/Inspection Checklist.
Manufacturing Your Products
The perfect resource for finding a factory to manufacture your line of beauty products is find a OEM consultant to advise you to development your own brand skin care.
Marketing Your Skin Care Products
The first step to successfully marketing your skin care products is to choose a business name and logo. It should resonate with your target customer base, be easy to spell and not already be in use.Next, you will want to get your product and brand out in the market. This can include:
- Setting up a website. With a website, you can sell your product outside your local area. If you don’t know how to do it yourself, try a ready-to-use online e-commerce solution.
- Skin care parties. Hold at-home skin care parties where you have people try your samples.
- Sell wholesale. Visit local health stores such as spas and beauty salons and give free samples for them to try. If they are interested in buying your products, offer them wholesale pricing.