Fabulous Steps to Start Your Own Beauty Brand
Recently, the beauty industry has actively turned heads, and ranks among the top profit-making industries which makes it very attractive to investors. Many people dream of having their own cosmetics brands, but many are at a loss at how to start. Fret not! We will provide you with the basic guidelines on how to get started as well as how to choose the most suitable OEM to achieve your goal.
Choose the type of products for your business
Before you can start a brand, it is important to know what product to sell. Are you leaning more toward color cosmetics or skincare? If you are uncertain, try looking at the products you like and study their backgrounds, find out who are the targets for those products, and educate yourself about how to create a beauty brand by joining a seminar on the beauty industry. Next, know your products’ unique selling points so you can market them effectively, followed by learning the skills needed to manage the cost and profit ratio, how to source the ingredients, and how to use various marketing tools available today.
Know the market, know the competitors
Once you have decided on the products, the next step is to explore the market to forecast the demand, and to learn about the target customers so it is easier to roll out marketing strategies. Most importantly, you should know your competitors and learn about their strengths and weaknesses in comparison to your brand. For example, are they using natural ingredients, are the products free from harmful chemicals and suitable for sensitive skin, or are they using environmentally friendly packages. Try to gather every useful information for further efficient strategy planning.
Look for OEMs that specialize in cosmetics production
To make a cosmetic brand stand out and become successful, choosing the right factory or OEM supplier as a partner is crucial. OEM, or Original Equipment Manufacturer, are the contractors who manufacture products that are labeled with your brand’s name/logo. Accordingly, the ideal OEM should have expertise and are certified with GMP, Codex, HACCP, Halal, or other international standards. They should also have establishment licenses and are authorized by the Food and Drug Administration (FDA), Ministry of Public Health, to ensure they are authorized to produce quality products that comply with the law. Alternatively, you can choose from a range of one-stop-service providers who offer turnkey services to save time and get everything you need from one contact point. It is also necessary to visit the actual production site to observe their operating system and safety standards in action.
Choose the desired cosmetic or skincare formula
If you have not fixed the formula for your products yet, you may ask for recommendations from your OEMs because they can provide a list of formulas that match your requirements, or consult with the research team at the factory to create a new formula according to your specifications.
For those interested in launching their own beauty brands but need more information on where to look for the standardized OEMs, COSMEX 2023 which will be co-located with in-cosmetics Asia 2023 will jointly serve as a meeting place for beauty industry colleagues and beauty gurus to exchange ideas and share business practices. This is where you can gather creative ideas for product development as every aspect of the beauty industry will be presented, ranging from the most popular active ingredients of the year to advanced production steps and attractive packaging designs so entrepreneurs can get and overview of the industry, search and compare information of your products of interest, and take advantage of the latest business advice and trends to launch your brand successfully. In short, don’t miss COSMEX 2023 during 7-9 November 2023 at BITEC, Bangkok.