Here we go - starting my skincare line!

[m1steradamh]

Hey everyone,

My first post in the "progress threads" category - hurrah!

The Story So Far:

I had made a post in the Insiders Forum as an introduction, but for the unacquainted, here's the TL;DR version of my story and introduction:

• Had a small marketing/design business since 2009
• A number of personal circumstances lead what was a six-figure business to tank in 2013-2015
• This year, essentially re-launched and rebuilt everything (business and personal) in a very specific market (plastic surgeons and medical spas) and on track to do around ~200K this year; looking to double it next FY.
• I love this business, and although it meets Need, Entry, and Control...at the moment it isn't meeting Scale or Time - although working on changing that.

I have no intention of "dropping" this business, but rather using it as a business to provide substantial cash flow as I prepare to launch what I see as a much more Fastlane-oriented venture - a private label skincare line.

The Plan:

• My goal is to begin this skincare line with one product (see below) and grow to a larger line in the coming 12 months

• Distribution channels will be Amazon, my own Shopify site, and through medical spas (many my existing clients) who place minimum orders.

• Facebook/Instagram advertising and leveraging influencers will be the bread and butter of the marketing strategy.

• My goal would be to sell in a few years, although depending on how quickly this grows it may quickly overtake my main business (marketing for plastic surgeons/medical spas)

Current Action Steps:

• I'm pouring through this forum for the goldmine of wisdom from those who are/have been involved in physical products businesses.

• Meanwhile, I'm trademarking my brand name (I see massive potential for where this brand could grow in the next few years) and having the visual identity designed

• I have also sourced the product I will be private labeling (a peptide cream that makes wrinkles and under-eye circles disappear in seconds, lasting 8-10 hours, not makeup - therefore an excellent product for men and women) and will be ordering samples from several manufacturers (based in China this week)

Current Challenges:

• I'm totally green to the world of eCommerce and physical products - so I'm using every spare moment to learn the ins and outs of this business model.

• Finding the right ways to outsource fulfillment and customer service. As my first business occupies much of my time, I feel delegating and outsourcing from Day 1 is my best path to getting traction

• Pricing! I will have a clearer picture of this once I secure my manufacturer, but I'm aiming for somewhere between $20-30

• Recurring revenue - for clients who purchase from our own website, I plan to offer autoship/membership.

Stay tuned, and I'll update this thread every month as the product line comes to life!

 

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