Eskil's Progress Thread: Starting a Supplement Business from Scratch

[NickS]

How coincidental... I just updated my own progress thread (https://www.thefastlaneforum.com/co...starting-a-subscription-based-business.62259/) asking which e-commerce platform would be ideal for a subscription-based business.

My product is high-volume (hopefully) low-cost so 50 dollars a month (Recharge + Shopify) means I'll need that much more customers to be profitable... How do you like Recharge and Shopify and would you say you get enough value for your money?

 

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[eliquid]

Sorry to derail this thread...

Eskil, what's your favorite alcoholic drink?

 

[Eskil]

@Eskil how many products do you have right now? I was thinking about selling on Shopify but I feel you need a good number of products for this to make sense.
Do you do any media buying?

I have my main one and two in the pipeline that are not launched yet, so just one active.
No need to wait for more products before you start using Shopify. Remember that is also what I use to sell my other main product, and aside from upsells in my cart there, I don't have it set up yet with categories or more products you can browse. (I will do this soon though, but my point is it's fine with just one product too).

No media buying yet, no.

 

[Eskil]

My product is high-volume (hopefully) low-cost so 50 dollars a month (Recharge + Shopify) means I'll need that much more customers to be profitable... How do you like Recharge and Shopify and would you say you get enough value for your money?

I love Shopify and can highly recommend it. I'm just about to start up with ReCharge, so I can't say for sure yet how I will like it. It seems decent though, and I think you will be hard pressed to find a better combination at a price that low. $50 isn't really anything to sweat over, even if you're just breaking even at first. Can you make $1.67 a day with your new business? Chances are you can

 

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[Eskil]

Sorry to derail this thread...

Eskil, what's your favorite alcoholic drink?

LOL... I realize I must look like an alcoholic with some serious issues with that background..

I've never been drunk in my life actually but I do enjoy my casual drink now and then. To me, nothing beats a good rum and coke, so yeah - rum will always be my favorite. Try Blue Chair Bay rum if you haven't. It's delish.

 

[Bigguns50]

yesterday received another shipment of bottles

I read this....saw the bottles on the counter and thought "Damn ! THAT'S the secret !"....

Good update ! Thanks !

 

[BKMoney]

Hey, congrats on your success so far. I've been selling supplements on Amazon since 2012 as well but it's getting too crowded with each passing day so good for you for developing other sales channels. My advise would be to run all your labels and sales copy though an FDA compliance service and make sure you are not making any unsubstantial claims or you might become a target for the money hungry lawyers that are preying on Amazon sellers lately. I myself just got hit and this is the first time I run into any legal troubles so it's quite stressful.

 

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[Guest12120]

@Eskil I have decided to go with the Shopify store. But instead of developing a new product I'll begin with what I have right now. I will have 14 items to start. We'll see how this goes. I'm planing to use FBA to fulfill my Amazon orders as well as Shopify ones.


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[Eskil]

@Eskil I have decided to go with the Shopify store. But instead of developing a new product I'll begin with what I have right now. I will have 14 items to start. We'll see how this goes. I'm planing to use FBA to fulfill my Amazon orders as well as Shopify ones.

Nice! Yeah I have FBA with mine too, and its' easy to set up. You should consider the ReCharge app, and things like Product Upsell.

 

[Guest12120]

You should consider the ReCharge app, and things like Product Upsell.

I already looked into these apps will definitely use them.



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[Eskil]

I just updated my other progress thread, so it's only right I should update this one too, lol...

Everything is still going well.I will soon hire a VA full-time though to help put some more effort into marketing of the product. Just basic stuff at first like social media, blog writing/posting, Hootsuite, reaching out to sites for mentions/reviews, etc.

Sales are pretty steady at around 8-10 sales a day now, sometimes 12 a day. What's cool about this is that even though this isn't my primary business that I focus on - it's a pretty much 99% hands-off, passive income stream that covers our living expenses, bills, food, gas, etc. I know it could make even more money if I pushed it, but I will soon be adding 2 more products to the product line

HOWEVER - for me, the most rewarding thing of all has been to see that real people actually enjoy and truly benefit from my product!!
For instance, check out this 100% REAL review that some random customer posted on my listing;'

When I read that, it felt amazing. Because this was actually what I originally wanted when I made a supplement to begin with. I didn't make it to make a quick buck, or to chase cash with the latest 'trend' supplement. Following the mantra of VALUE CREATION from @MJ DeMarco - I wanted my product to have true and lasting benefit for people. This review and some others proves again that when you provide genuine benefit and value, the money will follow.

And actually, both my wife and mother/father in-law now all take my product on a regular basis - and they say they feel noticeable better taking it! My father and mother in law both have lost weight even, with nothing else changed

I'm not saying this to brag or plug my product obviously, lol.. I'm just saying it as food for thought to anyone else reading this thread who are thinking about making a supplement. If you do - make something that works. Make something people will want to come back for and use again. Not because you conned them into it with slimey sales tactics. But because it makes their life better.

 

[AllenCrawley]

I'm not saying this to brag or plug my product obviously, lol.. I'm just saying it as food for thought to anyone else reading this thread who are thinking about making a supplement. If you do - make something that works. Make something people will want to come back for and use again. Not because you conned them into it with slimey sales tactics. But because it makes their life better.

^^^ Worth highlighting!

Well done brother. Keep it up.

 

[Wisith]

Hey Eskil!

It was nice meeting you at the summit a couple of weeks ago. I read this thread when I first joined the board, and completely forgot it was made by you! If I remembered then I would've asked you about this in person...darn it!

Are you still doing this project or are you focusing entirely on your camera mount project now?


Also, did you have to get approval from the FDA and/or any other regulation agencies for your supplements?

In regards to the nutrition numbers, did you send a sample of your product to a company to exam and provide you with the numbers? (IE 140 calories, 15 g of protein, etc. per servings)? It struck my head when I saw you posted your label.

 

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[youngtrep]

Hey Eskil!

It was nice meeting you at the summit a couple of weeks ago. I read this thread when I first joined the board, and completely forgot it was made by you! If I remembered then I would've asked you about this in person...darn it!

Are you still doing this project or are you focusing entirely on your camera mount project now?


Also, did you have to get approval from the FDA and/or any other regulation agencies for your supplements?

In regards to the nutrition numbers, did you send a sample of your product to a company to exam and provide you with the numbers? (IE 140 calories, 15 g of protein, etc. per servings)? It struck my head when I saw you posted your label.

The FDA does not approve supplements. Your product must comply with all FDA regulations though in order to be sold. While this label's claims aren't terribly egregious, I can tell you that the FDA would likely not be happy with the "slow down your body's aging process" claim.

In regards to the supplement facts panel that is something your manufacturer creates for you based on your formulation or one they create for you (or a private label product).

 

[Greyson F]

I don't mean to dig this topic up from the grave, @Eskil , but I have questions concerning your back-end, non-Amazon sales funnel.

My plan all along was to sell via other channels as well and so I have set up a conversion-funnel now which is ready for Google Adwords. I will first target a subset of my product's market, and I have customized my landing page to tailor specifically to those people's needs.

Are leads to the landing page coming independently from Adwords, or is there a connection or path you're making for Amazon buyers? What landing page SaaS do you use?

Further, I have set up an auto-responder to anyone who just orders a single-sale - to encourage them to save money next month by getting the first bottle free - and then to voluntarily join my auto-shipment program. The goal of course here is to get as many customers into a recurring billing cycle as possible.

How do you do all of this without breaking any of Amazon's terms? They seem to be very strict about keeping buyers on Amazon. I've been trying to find better ways to build customer relationships without pissing Amazon off.

The #1 goal going forward will be to convert every sale into a recurring customer

I'm really interesting in learning more about the process behind this. I'm looking for the gold nugget. Could you share your thoughts.

This thread has helped me tremendously! I've spent 12 long, grueling months on preparing a custom NDI formulation to hit market, and its been a lot of bumps. This thread is helping me tie together the knowledge I'm lacking.

Next step is to take action!

 

[LightHouse]

I don't mean to dig this topic up from the grave, @Eskil , but I have questions concerning your back-end, non-Amazon sales funnel.



Are leads to the landing page coming independently from Adwords, or is there a connection or path you're making for Amazon buyers? What landing page SaaS do you use?



How do you do all of this without breaking any of Amazon's terms? They seem to be very strict about keeping buyers on Amazon. I've been trying to find better ways to build customer relationships without pissing Amazon off.



I'm really interesting in learning more about the process behind this. I'm looking for the gold nugget. Could you share your thoughts.

This thread has helped me tremendously! I've spent 12 long, grueling months on preparing a custom NDI formulation to hit market, and its been a lot of bumps. This thread is helping me tie together the knowledge I'm lacking.

Next step is to take action!

If you haven't started selling... You don't need to know any of the advanced stuff. If you haven't started selling, you are stuck in thinking you need to learn more or analysis paralysis.

Get that product launched, you will learn what you actually need to know, not a good nugget you can't apply or won't be relevant by the tone you can.



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[Greyson F]

You don't need to know any of the advanced stuff. If you haven't started selling, you are stuck in thinking you need to learn more or analysis paralysis

You have the perfect timing. Just got off the phone with my partner, and we made some major decisions in the direction of our supplement line so that we can get our damn brand on Amazon.

Thank you so much @LightHouse for the slap in the face. I WISH YOU WOULD SLAP ME HARDER (Not masochistic I swear).

 

[LightHouse]

You have the perfect timing. Just got off the phone with my partner, and we made some major decisions in the direction of our supplement line so that we can get our damn brand on Amazon.

Thank you so much @LightHouse for the slap in the face. I WISH YOU WOULD SLAP ME HARDER (Not masochistic I swear).

Supplements? You are going to need all the hoping and praying in the world...

You should have been at the summit, listening to the amz panel. @roc pilon asked about starting and expanding supps and we had a very good discussion.

Either way, your next two weeks should only have the steps to get your first sale and nothing else really, even if it's an in person sale to the most ideal customers you can find for your product.

Sent from my Nexus 6P using Tapatalk

 

[Greyson F]

Supplements? You are going to need all the hoping and praying in the world...

You should have been at the summit, listening to the amz panel. @roc pilon asked about starting and expanding supps and we had a very good discussion.

Either way, your next two weeks should only have the steps to get your first sale and nothing else really, even if it's an in person sale to the most ideal customers you can find for your product.

Sent from my Nexus 6P using Tapatalk

I really want to go to the next one. I've been trying to get to the Summit for awhile, but I'm only now becoming "of age" for these events.

I'm on it. Mind if I PM you once I land that first one?

 

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[Sequential]

Eskil, do you sell in / ship to the UK?

Does your product contain K2? K2 Mk4 causes issues for me (burst blood vessels and causes DVT) though it might have been the brand.

Thanks

 

[Eskil]

Eskil, do you sell in / ship to the UK?

Does your product contain K2? K2 Mk4 causes issues for me (burst blood vessels and causes DVT) though it might have been the brand.

Thanks

No I am not selling this outside the UK. I know several European countries are pretty strict with regulations when it comes to supplements, but every barrier to entry could also be an opportunity. And no my product doesn't contain K2.

 

[Sequential]

Sorry I mean do you sell this in the UK? Aka can I buy some? I asked about K2 as it bursts blood vessels for me, sadly.

 

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[Captain Jack]

Alright, the time has come! This will be my progress thread for a new Fastlane business I am starting – a nutritional supplement product/business. I will do my best to post here with updates on what I am doing. Hopefully this can become another thread that others can learn from (whether they are getting into the supplement business or not), and perhaps I can get your guys’ thoughts and inputs here on some things along the way.

Let me first clarify what I am going to be doing. When I say “nutritional supplement business” I mean that I will develop first one, and eventually more, nutritional supplement products under my own brand. The brand will be focused on general health – in the life-extension, general health improvement, anti-aging, multi-vitamin market. But instead of trying to be another cookie-cutter A,B,C,D,E multivitamin, my first product will approach this with a slight twist…

The product will be a 100% all-natural, nutritional supplement – and not “yet another multivitamin”. It will contain 7 main active ingredients and one or two supporting ingredients for increased efficiency.

The seven active ingredients are a powerful pack of already widely known, true and tested ingredients that all have been proven to actually improve overall health in various different ways. These ingredients are already selling well in the supplement market today – but usually sold separately under generic brands.
My USP is that I offer these altogether in one convenient, daily dose.

Ingredient #1
Anti-aging / Heart health and cardiovascular benefits / May slow the onset of Alzheimer's disease.
It is also believed to reduce inflammation, and to give your immune system a healthy boost.

Ingredient #2
The strongest anti-oxidant found in nature. Anti-aging / Promotes heart health and cardiovascular benefits / Believed to inhibit or slow certain forms of cancer.

Ingredient #3
Heart health / Blood pressure / Anti-aging / Parkinsons disease, and more. Widely known for its positive effects in the human cardiovascular system. This ingredient is actually an enzyme that already exists in our bodies - but deteriorates as we get older. Maintaining stable levels of this ingredient has proven to be a great way of keeping your body healthy longer.

Ingredient #4
Anti-aging / Lowers cholesterol / Lowers bacterial growth / Reduces arthritic and digestive inflammation / Skin health. This ingredient has been used in Eastern traditional food and medicine for over 1000 years. There is no doubting this ingredient’s many benefits, and a daily intake of it may contribute to your health in more than one way.

Ingredient #5
Anti-aging / Heart health / Immune strength. This ingredient has been clinically proven in studies to directly benefit heart health. It is also an essential nutrient that the cells in our bodies depend on in order to extend their own natural lifespan.

Ingredient #6
Blood pressure regulator / Anti-aging / Clinically proven weightloss aid / Bone mass increase / Nerve damage repair (Parkinson's disease).

Ingredient #7
Diabetes and blood sugar aid / Blood pressure regulator / Lowering LDL (bad) cholesterol, while increasing HDL (good) cholesterol / Increase lean body mass

This Fastlane business fulfills all the N.E.C.T.S commandments:

Need: The supplement industry is a $30 Billion+ industry in the U.S. alone, and is grown steadily. With increased private health-insurance and medical care costs, people are seeking their own ways to do preventive care through vitamins, supplements, diet, and exercise. Now, before I go full steam ahead with this first product – my first test will be to verify that the market actually NEEDS and wants my formula. Because I know that as useful as the product may seem in theory – only the market can tell me for sure. So my first big step now is to set up a presell page to collect leads, and also to get a very small batch manufactured for cheap that I can send out to the first buyers for some feedback, after they have tested it.

Entry: Even though in theory, “anyone” can have a supplement made – it still takes significant work, determination, and some financial investment to research the production of a nutritional supplement and get it off the ground properly to market. I have already spent a few months doing research for my ingredients to find the right combinations, market needs, benefits, correct daily dosages of each, etc.

Control: I will be almost entirely in control of every aspect of this business. The only thing somewhat out of my control would be depending on manufacturer’s for the actual production – but my ingredients are common enough to where if one manufacturer were to fail on delivery – there are plenty of other manufacturer’s to choose from.

Scale: The Need also delivers the Scale here. I will start out with direct online sales, but my goal is to enter retail chains when I have reached a comfortable sales volume level online.

Time: There is definitely high enough margins here for me to automate this business. I will be mostly in control to start, but the plan of course is to gradually outsource every element of the business – from customer support, distribution, sales, and eventually management.

Wish me luck guys...

Hi Eskil.

I have an idea for a supplement that is fairly simple, but I have not been able to find these specific ingredients together.

I was wondering if you could recommend a supplement development company (basically, someone to formulate this supplement out of my required ingredients) or if you have any tips on how to find a legitimate company that does this.

Any advice that you can provide will be more than appreciated!

 

[Eskil]

Hi Eskil.
I have an idea for a supplement that is fairly simple, but I have not been able to find these specific ingredients together.
I was wondering if you could recommend a supplement development company (basically, someone to formulate this supplement out of my required ingredients) or if you have any tips on how to find a legitimate company that does this.
Any advice that you can provide will be more than appreciated!

Sure thing, here are some:

TNT Supplements
Lordes McAgy, lmcagy@tntsupplements.com
Phone: (352) 435-0050

Private Label Nutra (PLN)
I know the owner there, Bjarte Rene, who is Norwegian like me
Brian Hamilton, brian.hamilton@privatelabelnutra.com (727) 580-1580
Tom Jones, tom.jones@privatelabelnutra.com (678) 328-3700
www.privatelabelnutra.com

A couple of others
www.ionlabs.com
www.andersongg.com

 

[Captain Jack]

Awesome! Thanks!

 

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