Have you been thinking about introducing your own line of day spa, med spa or salon products? Here are the top reasons why you should…
- Enhances Your Exposure. When friends and coworkers compliment your client on how fabulous they look, they tell them about your products and send them to you to buy them. This not only increases sales of your brand, but now allows you to expose these clients to your service offerings.
- Assures Exclusivity & Brand Loyalty. Your clients can find many of your national brands on Amazon or through several other on-line retail storefronts. Therefore, you can lose a new customer to pricing as fast as you gain one. A key objective of any spa or salon is to create client loyalty. When you offer your own brand, they become loyal to it and can only purchase it through your website or physical location.
- Higher Profit Margins = Increased Profits. You can purchase private label products for a fraction of what you pay for national brands. You thereby greatly increase your profit margins. Also, small minimum order quantities with manufacturers of private label products means that regardless of your size or location, you’re a candidate for offering your own product line. Some manufacturers require a minimum order of only 3 units per product.
Not Yet Convinced? Here are a few more reasons…
- Because of the higher profit margins you will experience through offering your own private label brand, you will be able to offer your products at a price point slightly lower than your pricing on competitive brand offerings. Thereby you’re able to offer your clients a fabulous product alternative at a better price.
- Your clients are loyal to you because of the excellent services you provide. You’ve already built trust and credibility with them. They will be eager to try your own brand as a result of that loyalty. While you don’t have the marketing might of a national brand behind you, keep in mind that you’ve got something even better: a personal relationship with your clients.
- You can better meet client needs. When you hear a certain type of product requested over and over by your clients, you can add that specific private label offering to your product line, be it skin lightening products, marine-based, glycolics or whatever else is being requested.
- You can offer your sales staff a higher retail commission on your private label brand to help enlist their support in promoting it. You will be able to do so, because of the higher margins you will reap.
- Pride of ownership. Last, but not least, you will experience unparalleled pride in offering your very own signature brand of products!
Founder & CEO of Strictly Personal – The Personal Care Marketing Experts