Want to start a supplement business without actually owning or storing any inventory? This principle is called drop-shipping!
The way it works is quite simple. An online retailer sells its products on the website but never has any physical contact with the actual inventory.
Instead, a third-party takes care of manufacturing, storing, and shipping products on behalf of the online business.
Thus, the online business only decides on a product, creates the online store, and leads the marketing efforts.
The sale of products through the drop-shipping method simplifies the e-commerce implementation considerably. In contrast to the typical online stores, the products no longer have to be bought and stored in large quantities, adding high costs to the operation. This way, the sellers lessens their financial risk since no more substantial investments have to be spent on these products.
What is perhaps best of all is that the customer who buys a product online does not notice the drop-shipping method and does not know that it is shipped from another location.
This makes it possible for many people to fulfill the dream of running their successful online store with minimum upfront investment.
Drop-shipping – “Small Risk – Big Reward.”
In a nutshell
If you want to start a drop-shipping supplement business, there are four main steps:
- Find the right product, which covers quality and demand,
- Select a manufacturer that takes care of production, packaging, and shipping,
- Then build a professional online store that can attract customers and generate purchases,
- Finally, attract your customers with the help of online marketing.
When the online store is finished, and the drop-shipping service is in use, the shop is mostly an automated process. This enables an entrepreneur to run the online store independently with little to no effort.
Drop-shipping is a great way to make many people’s dreams of an online store come true, and it is as easy as possible. Less risk, less investment, less work – all this through the method of drop-shipping!
Why launch a Supplement Brand
The Health and Supplement Industry is booming, with a value of approximately $133 Billion in 2016, and the numbers are rising. Projected CAGR (Compound Annual Growth Rate) shows these numbers will increase by 9.6% until 2024 (Source: nutrasciencelabs).
Customers are getting more and more health-conscious, fast food companies are losing profit compared to previous years, and vegan/vegetarian products and personalized health alternatives are in high demand.
No surprise then that the Supplement Industry and personalized health are gaining more and more popularity, and the numbers of new companies and products are increasing.
Not only is the demand high right now, but it’s as easy as ever to start a business. A personalized drop-shipping supplement brand can start from zero and achieve rapid success due to increasing popularity and low website and advertisement costs.
Since personalized supplements play an essential role in various businesses, like the fitness, health, and vegan/vegetarian industries, they are only getting more popular every month.
The market for Personalized Supplement Brands is huge
The question is, why create a Supplement Brand if there are so many on the market already? The key is to create a unique brand, focused on a specific niche. The benefit of Supplements is that there are immense opportunities to create a unique combination of Supplements to address the customer’s needs and wishes.
Examples of Supplements with high demand
A study by the Food and Drug Administration (FDA) estimates that there are currently over 29,000 different Supplements on the market, and the numbers are rising. As a retailer, this number can be terrifying and intimidating, but in fact, it opens many doors to create a unique and personal combination of Supplements to sell in a specific market for your niche. To clarify, here are some possible examples:
- Fitness Supplements – Protein and Post Workout recovery
- Vegan and vegetarian Supplements – Creatine and B12
- Health, Weight-loss and Beauty Supplements – Antioxidants and Fiber
Supporting the customer’s health as a business idea
With rising numbers of Vegans and Vegetarians, the consciousness about peoples’ health is not just a sign of more awareness: it also opens new doors for business opportunities. The demands for specific fitness, health, and vegan Supplements are high, especially considering the support of scientific studies.
Using Supplement Studies to boost your business
One of the significant advantages of starting a Supplement business in this day and age is the vast quantity of studies that underline Supplements’ effectiveness in day-to-day use. Compared to many other companies, the Supplement Industry has a constant demand for new products due to consistent consumption.
Studies show that it takes around six weeks for a Supplement to show results, whether it be beauty, fitness, or health-related.
For example, in some cases, Biotin can take around three months for the customer to see a positive effect on hair and nail growth. In comparison to other Industries, the Supplement Industry is, therefore, in continuous demand for products.
Finding the right niche for your personalized Supplement Brand
To create a successful Supplement Brand, you have to find the right niche for your product, which, thanks to the internet, is as easy as ever! Through Internet Ads, Online Marketing, and Social Media, the chances of reaching a specific group of people, to generate sales and attract customers, is done with only a few clicks.
Finally, to start your personalized Supplement Brand, create a unique product, and generate your first sale!
Four easy steps to find the right product for your personalized Supplement Brand
The first and most essential step in starting your personalized supplement business is choosing the right product. This sounds like an easy task, but the wide variety of possible supplements might seem overwhelming. We want to bring you closer to your best choice of products with a step to step guide.
Misconception about selecting the right product for your personalized Supplement Brand
The most common misconception about selecting the perfect product for your Brand is starting with the research. The fact is, how do you want to know which product to go for when you don’t even know what your costumers need? It’s not sufficient to choose the product first and then find the right customers; that’s why you need to identify your niche first.
To find the right product, you have to find the right niche.
There are already around 29,000 supplement products on the market; the secret to success is, therefore, to find a niche that’s frequently in need of new products. Even though you want to sell many products, have many customers, and let your business be a success – the key is to define your niche as concrete as possible. If you have a detailed description of your customer, it will be easier to identify your customer’s needs. If you are trying to sell fitness supplements like protein bars with “Whey” (dairy) to a vegan audience, you won’t succeed.
So, before focusing on finding the right product – find the right niche.
Step 1: To find the right product ask yourself these questions:
Do you need help finding your niche or where to start? Ask yourself the following questions. These questions will help you identify your “perfect” customer, identify what this customer wants, and finally, how to archive it with the right personalized supplements:
- Who is my customer?
- What results does my customer want?
- What does my customer need?
Step 2: What are the possible products to fulfill my customers’ needs?
After you have answered the previous questions, then it’s time to focus on the actual products.
Start the research and find out which products are out there to fulfill your customer’s needs. Read articles, studies, and check out other supplement brands to see on what aspects they focus.
If you need some inspiration for possible supplements to sell, these products are currently on high demand:
- B12 (for Vegans and Vegetarians)
- Protein – Bars, Pills, Shakes, Powder (for Athletes)
- Green Coffee Bean Extract (for Weight-loss)
- Biotin (for Hair and Nail Health)
- Vitamin D (for Health)
- Probiotics (for Gut health)
- Fish Oil (for Health and Skin)
- Creatine (for Fitness and Beauty)
We recommend using an index for Nutrition and Dietary Supplements. Focus on supplements that are scientifically proven and do your research with the help of scientific articles. This kind of research has two significant advantages: First, you’ll only focus on supplements that are proven to be effective, and second, you can use the research for marketing your products.
Step 3: Focus on quality.
Quality is one of the main aspects of a long term successful Supplement Brand, due to the high number of products on the market and the fact that it has to be approved by the Food and Drug Administration (FDA): quality is critical.
Without positive results, you’ll lose clients consistently. Come up with a personalized value proposition for a supplement that you can be proud of.
Step 4: Improve your personalized supplements
Did you discover a supplement that fits your niche and can fulfill your customer’s needs? Congrats, but your work isn’t done yet.
The following is the most important part – make it unique! Focus on Product Development to optimize and personalize your Supplement. You won’t succeed if you do what everyone does but instead focus on creating your personalized supplement Brand.
How can you optimize your customer’s results? Can you add other ingredients to make your personalized supplements more effective? Or more pleasant to use? What is different about your Brand in comparison to the other supplement brands? You’ll find the right product with research and brainstorming!