Whether you have product experience already, or you are taking the first steps to succeed in this ever-growing industry, it’s important to know where to begin and what to expect. We've narrowed it down to this list of steps that you may want to consider and follow when thinking about how to start a skincare line.
Demand for skincare products is continuing its upward trajectory, with the global skin care products market size expected to reach US$183.03 billion by 2025, which is a CAGR of 4.4%. This sustained growth means it’s a good time to start your own line.
Here are 4 simple steps to point you in the right direction, and begin to bring your product vision to life:
1. Spot where the opportunities lie
When thinking about how to start a skincare line, one of the first steps is to understand consumer demand: what kind of products do they want, what kind of ingredients do they look for, what kind of price would they pay, and what kind of packaging would encourage them to buy the line.
For example, there is an increasing demand for natural, herbal, and organic products, as well as rising awareness about natural ingredients providing UV protection, and demand for products with anti-aging properties, which makes these kinds of ingredients and products a good bet for meeting consumer demand.
2. Create your skincare line brand
Once you’ve researched the market and decided who you want to target, you need to create a brand. This involves coming up with a name, deciding on your product ranges including a hero product, the brand story, and then creating designs and packaging that will fit with this brand.
3. Decide your price point
When you’ve decided on the products, ingredients, brand name, and packaging, you need to fix a price point at which to sell these products to make a profit. Your pricing also indicates which area of the market you will operate in and where you will sell your products – will you decide to create luxury goods and place them in department stores or go for mass market and sell them in drug stores?
4. Choose a skincare line manufacturer
Next, you'll probably need to choose a manufacturer to produce your line. You'll want to choose carefully, to ensure that they can help you develop your product line and that it meets your standards for high quality. You may be looking for a manufacturer that has experience in the skincare industry and understands your unique requirements. You can also choose to outsource more than just your manufacturing. Private label manufacturers can help you with:
- Formula design
- Regulatory approval
- Graphic design, printing, and packaging
Ready for more information?
Want to know more about how to start a skincare line and develop your private label product line? Check out the new guide from Schwartz Natural Cosmetics - we've compiled the latest market insights and business tips for entrepreneurs in the skin and hair care industry. Download your free copy of the Ultimate Business Guide to Private Label Skin and Hair Care in 2019 and learn about how you can build your own customized product.
This blog post is for educational purposes only.