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Hi guys, I like to keep things short and simple so I'll try to keep this thread as easy to follow as possible.
Niche: Hair Styling products
Differentiation: Formulated keeping in mind what ingredients favor healty hair growth and minimizing those that ruin hair follicles, WHILE still providing a superior experience than the competition BOTH in HOLD/SHINE(where needed) and DURABILITY.
Products available at Launch: Matte Paste(Clay Based), Shiny Pomade(Water Based so easily washable) and Volumizing Hair Powder
Potential future Products: Beard Balm, Sea Salt Spray, Hair Gel
Little History: About 3 years ago I wasn't satisfied with the products on the market so I ordered 300 € of "ingredients" and with the help of a friend who had a lab and some online Home Brewers communities I managed to create 2 nice "prototypes", I studied a lot about the formulation of those products and had 100s of case studies from the other home brewers to see what changes lead to certain results.
Now those formulas are very expensive to re-create, literally 5x what it costs for normal products, but based on those I was able to optimize extisting formulas from a chinese manufacturer, and make their products that much better(providing VALUE) at least in my opinion.
Today came the ultimate samples that I can comfortably say meet my expectation, I'll show you examples with the matte paste and the hair powder in the following post, tomorrow I'll put more effort into explaining the pomade.
Plan:
1) Set up an ecommerce, the brand idea has an occupied domain that would cost me 900€, but to begin with I'll pass on that;
2) Create a company, have to consider what kind, I already have all the pros and cons of my 2 main options;
3) Funding, I can get a pretty large order of ONE product with my actual funds, but due to MOQ to get the 3 products ready since the beginning I would need financial help from my family/bank;
4) Amazon FBM/FBA, test out both after this pandemic is over;
5) Wholesale, I contacted most of my competitors pretending to be interested in distribution of their products, what they ask for is MUCH higher than what I expected to ask as a price, if I asked the same price I would have along the lines of 50%-80% margin(depending on shipping and quantity);
6) Marketing, this should really be in point 1 but for clarity I'll put it here, I have a nice plan set up and I already contacted a bunch of influencers to promote me(just to know their rates) on top of PPC;
For the Branding, I'm debating wheter to have the manufacturer do everything or just do it on my own and apply on the jars manually, I have more protection if they don't know what Brand I'm actually selling right?
I'm a little concerned with the fact that the manufacturer may share my improved formulas with other costumers but how can I stop this? It's not like I can patent it.
Operational Time-Line: Create the Company about Mid May, Beginning of June so this pandemic can get more stable and have the first order come in at about that time.
Niche: Hair Styling products
Differentiation: Formulated keeping in mind what ingredients favor healty hair growth and minimizing those that ruin hair follicles, WHILE still providing a superior experience than the competition BOTH in HOLD/SHINE(where needed) and DURABILITY.
Products available at Launch: Matte Paste(Clay Based), Shiny Pomade(Water Based so easily washable) and Volumizing Hair Powder
Potential future Products: Beard Balm, Sea Salt Spray, Hair Gel
Little History: About 3 years ago I wasn't satisfied with the products on the market so I ordered 300 € of "ingredients" and with the help of a friend who had a lab and some online Home Brewers communities I managed to create 2 nice "prototypes", I studied a lot about the formulation of those products and had 100s of case studies from the other home brewers to see what changes lead to certain results.
Now those formulas are very expensive to re-create, literally 5x what it costs for normal products, but based on those I was able to optimize extisting formulas from a chinese manufacturer, and make their products that much better(providing VALUE) at least in my opinion.
Today came the ultimate samples that I can comfortably say meet my expectation, I'll show you examples with the matte paste and the hair powder in the following post, tomorrow I'll put more effort into explaining the pomade.
Plan:
1) Set up an ecommerce, the brand idea has an occupied domain that would cost me 900€, but to begin with I'll pass on that;
2) Create a company, have to consider what kind, I already have all the pros and cons of my 2 main options;
3) Funding, I can get a pretty large order of ONE product with my actual funds, but due to MOQ to get the 3 products ready since the beginning I would need financial help from my family/bank;
4) Amazon FBM/FBA, test out both after this pandemic is over;
5) Wholesale, I contacted most of my competitors pretending to be interested in distribution of their products, what they ask for is MUCH higher than what I expected to ask as a price, if I asked the same price I would have along the lines of 50%-80% margin(depending on shipping and quantity);
6) Marketing, this should really be in point 1 but for clarity I'll put it here, I have a nice plan set up and I already contacted a bunch of influencers to promote me(just to know their rates) on top of PPC;
For the Branding, I'm debating wheter to have the manufacturer do everything or just do it on my own and apply on the jars manually, I have more protection if they don't know what Brand I'm actually selling right?
I'm a little concerned with the fact that the manufacturer may share my improved formulas with other costumers but how can I stop this? It's not like I can patent it.
Operational Time-Line: Create the Company about Mid May, Beginning of June so this pandemic can get more stable and have the first order come in at about that time.
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