In 2020 the supplement and vitamin market value soared to a massive $20+ million, and it is predicted to keep growing.
People are more invested than ever in exploring what supplements and vitamins can do for them mentally, physically, and for their general health.
The market moves quickly, and there have been some tremendous success stories like hair gummies, gummies for glowing skin, and overall health.
While there is plenty of competition, the market is thriving, and it is a great time to think about where you could capitalize.
Before you choose your supplement
You need to choose a market that has already seen some success and look for those that haven’t had the same uptake. Markets with more disposable income are more likely to buy things like supplements and vitamins. They are even more likely to part with their cash if you show your results. These could come from virtual clinical trials or focus groups.
You mustn’t be making huge claims that can be substantiated with the supplements and vitamins you choose. Legally, you need to meet the proper labeling and advertising requirements, adhere to all rules regarding supplements and know that your products are safe (which is why the trials are essential).
Vitamins or supplements
Both vitamins and supplements offer an incredible income stream, but you might need to choose one to ensure you don’t overcomplicate the work you need to do.
Supplements usually contain vitamins and other ingredients like minerals to meet a specific purpose. Vitamins refer only to the known vitamins like B6, Riboflavin, and Niacin.
Both are usually available online.
Who do you want to sell to? The niche you choose will dictate how you package and market your products. There are many niches when it comes to supplements:
- Weight lifters and those looking to bulk up
- Those looking to increase productivity (nootropics)
- Those with diet restrictions that may need extra support
- Beauty and skincare fanatics
Interesting with pre-made goods, you don’t usually need a license as the manufacturer has licensed them. Anywhere you have control of the recipe and ingredients, you will need to have licenses. Check the license requirements for any region you wish to sell in.
All the claims on your website need to be substantiated, and you also need to have clear guidance on who cannot use the supplements. For example, children, breastfeeding women, and pregnant women.
Your website design should be easy to navigate and put your products in the spotlight. It is preferable to have your website than using Amazon or eBay since it gives you complete control over the buyer’s process.
Your website will also be part of your branding and how buyers recognize you.
It is also essential that you get your open images of the supplements or vitamins you will be selling, as they are better than any generic image options.
Launching a supplement business isn’t as difficult as it might seem, and it can have enormous profits too!
Many businesses will take the same steps on their way to launching; here are 6 to follow: 6 Essentials You Must Do Before Launching Your Business.