Starting a skincare business as a side hustle can be a very good choice if you are passionate about the field. It is currently a booming industry and is predicted to be around $200 billion by 2025. With the increase in awareness towards skin care by various social media influencers, consumers are now increasing too. Therefore, if you are having a thought about beginning a new skincare brand, you must go for it!
With the increase in the number of consumers, there is an increase in the number of producers. This is when the competition starts and you will have to make a mark in order for your brand to stand out. If you are aspiring to be a custom skin care manufacturer, then you might find this article very helpful.
Things to Keep in mind for a skincare business side hustle
From planning to pitching and growing, this article covers it all. In this article, you will read about everything that you must know to see profitable growth as a skincare business brand. Here are the top 8 steps you must consider before starting a Skincare Business.
1. Identify your Niche
This might be a slightly tricky task, to begin with, but it is very important to identify your niche. There are so many products out there in the universe of skincare. From cleansers to toners, moisturizers, serums, sunscreen, exfoliators, face packs, and face masks.
You will have to narrow down and think of what kind of product you want to sell. There are several niches you can choose from:
- Luxury Skincare: This type of skincare includes the high-end quality type of products that are dermatologically tested and certified. It targets customers with a higher budget to invest in their skincare products. You must keep in mind that as the prices are hiked, results are expected in the same manner and at a fast rate.
- Organic and socially conscious Skincare: It includes products that do not contain harsh chemicals like parabens and sulfur. They are products that are naturally derived from nature. These products might also be environment friendly, biodegradable, and PETA-certified which means they are animal cruelty-free.
- Customized skincare: Here, you can customize the product based on specific skin types and therefore provide the customer with the products that they particularly need. It aims to give the customer personal attention by conducting surveys to know their skin type and to design a particular skincare regime as per their problems.
2. License your Business
To ensure that your skincare products meet the standard and are safe for your customers, you must license your brand and the products you sell. Go through the rules and regulations set up by Food Drugs and Cosmetics Act (FDA) regularly and get the needful certification done even if you are a small-scale producer. This will help you not just gain the trust of your buyers but also will keep you legally safe.
3. Expand your business online
Nowadays, online marketing has grown up so much that a huge percentage of the profit of many high-end brands is also based on online marketing. Today, people don’t just try out your products all by themselves. Instead, they would like a review from someone they can trust. This is where social media comes into the picture. You can expand your circle by getting connected and collaborating with influencers in advertising your product. You can also create an online website to sell your skincare products.
4. Create a brand and its logo
The customers need to identify you so that they can revisit. Creating a brand name solves this issue. Choose a brand name that matches your niche and the type of products that you sell.
Not just brand name but logo is a very important asset to recognize your brand. Just like the name, the logo also must match your niche to instill the brand and its identity.
5. Have at least one best products of your brand
You must have that one skincare product that can grab the attention of your customers which can be your flagship product. This will be your ‘hero’ of the brand and help you gain popularity. Think in a way to solve a very common problem of your target customers.
6. Finding a Manufacturer
Finding a manufacturer for your brand eases your process and therefore puts a huge burden off your head. A good manufacturer helps manufacture your product in a bulk and at a faster time while making sure that they are also safe and reliable.
7. Marketing and Shipping
Marketing your product is as important as having a good product. A very good product that does not reach the customer is equivalent to a no product. Therefore, you must implement certain marketing strategies. Improving the packaging of the product is also a marketing strategy that helps create an impression f the brand.
Your product must also be widely shipped at least throughout your country so that you can reach a large number of customers. You must also make sure that the modes of payment and return are flexible.
8. Token of Gratitude
Last but not the least, you can please your customers by providing them with free goodies or products. You can also send them samples of your products or give coupon codes. You can make it as creative as possible by having games like spin and wins or anything that would attract your customer to buy more.
Although it is a very competitive industry, skincare still has room for freshers to fill in the gaps. So if you are someone who is passionate but can’t grab the confidence, we hope that this article has made it easier.
Like any other business idea, this one requires a budget too. But it also depends on the niche you might want to start with. You must also consider keeping your product reachable to the customer’s pockets based on the niche that you select.
Although it might be slightly confusing in the beginning, you will try to understand your customers with time. So do not worry if you don’t make huge profits in the beginning. It will get better as you gain more customers.