Are you interested in starting a teeth whitening brand or company? If so, then your timing is just right. The market for teeth whitening products has steadily risen by 5% from 2015 to 2020. This is based on studies conducted by the IMARC Group. Market Insight Reports also predict that the teeth whitening market will continue to increase until 2027.
With these statistics, it is indeed the perfect time to start your own oral care company. It is also perfect that you have come to the right place.
This article will give you details on everything you need to know in order to successfully put up your own oral care company.
Things to Consider When Starting Your Oral Care Brand
Before you can start reaping the rewards of a profitable oral care business, there is a lot of planning and preparation that you have to do first. Here are the most important matters that you have to consider.
For starters, the oral care business requires a decent amount of financial capital. The products, equipment and services that your market will require are not necessarily cheap. You also want to invest in quality offerings. These will naturally come at a higher cost than run-of-the-mill products.
Proper and adequate storage for your inventory is a necessity. It is vital to have ample space for warehousing and manufacturing. If you also want to go into retail selling, you will need space for a storefront as well.
You will have to secure the necessary paperwork to run a legitimate oral care business. This includes permits, certifications and other legal documents. You will also have to submit a lot of requirements before you can get approval for all these paperwork.
Different markets have different needs. Before embarking on an oral care business, you will first have to study your target market. This will let you know exactly what your customers are looking for.
Conceptualization of Your Oral Care Company
Once you have settled the basic requirements for starting an oral care business, the next step is to conceptualize the idea of your business. Conceptualization of a business idea sounds overwhelming until you break it down into smaller and simpler steps, beginning with the creation of a business plan.
Create a Business Plan
Start with a general description of what your oral care company will include. Will you do manufacturing and distribution? Will you focus more on retail? Describe the location where you plan to put up your facilities.
List the pertinent licenses, including those that you already have and those that you still need to secure. You should also include the organizational structure that you plan to use. As well, including the types and number of employees that you expect to have and a brief description of their duties.
Describe Your Products
List your intended products and how you plan on procuring them. You should also come up with a formula for your products. This is a necessity for most oral care products. For this part, you might need the aid of a lab expert. You should also think of the varieties of scents and flavors that you plan to use.
The Production Stage
At this point, you are now very close to seeing your business in its actuality. It is now time to turn your ideas into tangible things.
Create a Brand Image
The image of your brand is how you will portray yourself to your target market. You need to make it strong so that clients will notice you and not your competitors. You should have a company logo with an easy recall. It should make your business easily identifiable at a glance.
Building a brand image also includes creating a presence across different platforms. Social media, in particular, should be a key focus as this channel will help you reach a much broader market. A dynamic presence in social media also allows you to interact with potential customers, as well as keep in touch with past clients.
How your oral care products look will have a great impact on the market’s decision to buy or not. Details that seem unimportant actually are. For instance, the color of your packaging and the font style of your labels have an effect on prospective customers. You should also make sure that your product design is unique in a positive way in order to make it stand out.
The final part of the production stage is the actual manufacturing of your products. If you choose to do it yourself, you will have to make sure to have the proper facilities for production. For most purposes, it is actually better to outsource a reputable manufacturer for your oral care products.
Running an oral care brand or company is not an easy job. You need to hire the right people and have effective marketing strategies. You also need an oral care products manufacturer like Cinoll. Most importantly, you have to make sure that you have a line of superior products to offer.