I know about the supplement industry, but nothing about Brazil
From my experience, you should know that:
- You're more of a marketing company than a supplement brand. Quality is important no doubt, but if you can't effectively market your product, you'll be sitting around with boxes of bottles
- Profit margins are high, but only if you control the means of production. The manufacturers are the middleman, and they get their money regardless, as they will make you order a Minimum Order Quantity. I don't know your background, or the regulations in Brazil, but if you can set up your own production setup that follows the proper guidelines, you'll make so much more money, and have a shorter time until you are in the Black, from production/manufacturing costs. I'll put it like this. My company produces our supplements, and our profit margins range from 86% to 93% (6 different products). I make more from a product that retails for $7.49 than alot of companies make from a product that retails for $25+
- Your product needs to make sense. As profitable as this industry is, most fail because their supplement product isn't something that people want. People think that they will get sales bringing some exotic amazon tree bark to the market. It never works. Make sure that the supplement is something that you can see alot of people using. Something that can effect people in different markets. For example, something that helps ease joint pain could be marketed towards athletes, people who work in manual labor and people who are elder in age. Multi market use gives your product validation .
From my experience, you should know that:
- You're more of a marketing company than a supplement brand. Quality is important no doubt, but if you can't effectively market your product, you'll be sitting around with boxes of bottles
- Profit margins are high, but only if you control the means of production. The manufacturers are the middleman, and they get their money regardless, as they will make you order a Minimum Order Quantity. I don't know your background, or the regulations in Brazil, but if you can set up your own production setup that follows the proper guidelines, you'll make so much more money, and have a shorter time until you are in the Black, from production/manufacturing costs. I'll put it like this. My company produces our supplements, and our profit margins range from 86% to 93% (6 different products). I make more from a product that retails for $7.49 than alot of companies make from a product that retails for $25+
- Your product needs to make sense. As profitable as this industry is, most fail because their supplement product isn't something that people want. People think that they will get sales bringing some exotic amazon tree bark to the market. It never works. Make sure that the supplement is something that you can see alot of people using. Something that can effect people in different markets. For example, something that helps ease joint pain could be marketed towards athletes, people who work in manual labor and people who are elder in age. Multi market use gives your product validation .
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