How many products should I start with for a new cosmetic business?

[robshell]

Hello there,

Not too sure if this is the right forum for this question but here goes.

I am in the middle of starting a new cosmetic business. My original plan has been to start with 3 main products - moisturizer, cleanser and exfoliator. I have found my manufacturer, decided on the formulas and found my packaging solution but I'm saddened to see it's becoming incredibly costly, and I'm not evenly entirely through with the process.

My question is whether I should start with one main product instead of three?

When I weigh these options in my head, here is how I see it:

Pros:
1. A lot less costly to work with one product product than three
2. Easier to market one product than three

Cons:
1. Lack of choice for consumers will mean they might not come back if they don't like the sole product on offer
2. Lack of cross product promotion (my plan was to provide a free sample of a different product when a consumer purchases a single product in order to re-engage)

Any help or input on this would be greatly appreciated.

Thank you

PS: First post! yay!

Rob

 

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[Red]

Start with one. Make it amazing. Then your following will demand more & you'll be able to deliver additional products to an adoring customer base.

What makes your product stand out from the rest of the market?

 

[robshell]

Start with one. Make it amazing. Then your following will demand more & you'll be able to deliver additional products to an adoring customer base.

But doesn't one product limit the options for consumers? I'm trying to find more cases where businesses have started with one and scaled. Looking at my primary competitors, they all have at least 3 products but have been operating for at least 2 years.

What makes your product stand out from the rest of the market?

Quality & Eco Sustainable (better method of extraction of ingredients than what you see today and state of the art eco-packaging)

In terms of marketing, I am not concerned. I'm more so thinking from an initial startup investment point of view. Obviously, the lower the better but I want to make sure I'm not limiting myself. I'm starting to think perhaps I should go with 2 instead of 3, and save the third for when I've established my brand.

Thoughts?

Rob

 

[biophase]

I’d go with 3 but sounds like your budget is low. Are you selling on your own website or amazon, or both? What’s your marketing plan like?

 

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[JasonR]

What's unique about your products?

Skin care is one of the most saturated and competitive categories out there. Are you sure you can compete?

 

[Monkeycom]

Hello there,

Not too sure if this is the right forum for this question but here goes.

I am in the middle of starting a new cosmetic business. My original plan has been to start with 3 main products - moisturizer, cleanser and exfoliator. I have found my manufacturer, decided on the formulas and found my packaging solution but I'm saddened to see it's becoming incredibly costly, and I'm not evenly entirely through with the process.

My question is whether I should start with one main product instead of three?

When I weigh these options in my head, here is how I see it:

Pros:
1. A lot less costly to work with one product product than three
2. Easier to market one product than three

Cons:
1. Lack of choice for consumers will mean they might not come back if they don't like the sole product on offer
2. Lack of cross product promotion (my plan was to provide a free sample of a different product when a consumer purchases a single product in order to re-engage)

Any help or input on this would be greatly appreciated.

Thank you

PS: First post! yay!

Rob

The real question is not how much products you'll sell, but how do you plan to sell them ?
The only way to build a sustainable business online is to build some sort of database. (Email/SMS/Push notifications..)

 

[Vigilante]

I heard that some people use two products, so they don't risk their investments. This business is quite common, so I'll be waiting to hear from you.

You are going to be waiting for a while to hear back. This thread is two years old and the original poster hasn’t been back since.

 

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