Beauty Tips For Body Care
I am in the VERY beginning stages of starting my skincare line, and I wanted to share what I've learned so far in case any fellow skincare addicts are interested in doing the same. I've sifted through many resources (including r/SkincareAddiction and found tons of information)! I thought I'd add my take on things to the mix.DISCLAIMER: I am by no means and expert, and I am learning more about this process every day, and I'll continue to come with updates with my progress if you are all interested in following along!STEP 1: Find your niche- For me this was one of the easier steps. I'm centering my line around travel, and I knew that if it was something I was passionate about, I would be able to clearly convey my message.STEP 2: Business name/entity/trademark- Before firmly settling in on a name PLEASE check to make sure the name is not already associated with an active trademark. Names are easy to change, but once you start making money with someone else's name, it can get very expensive with legal fees: [https://www.uspto.gov/trademarks-application-process/search-trademark-database](https://www.uspto.gov/trademarks-application-process/search-trademark-database)- Aside from skincare, this was a big step business-wise. I created my LLC and ensured that I filed my taxes as an S-Corp - this was my personal decision as I am the only member of the LLC. But, I'd recommend reading this to decide which one suits you best: [https://www.rifkindpatrick.com/Blog/2015/November/The-4-Major-Business-Organization-Forms.aspx](https://www.rifkindpatrick.com/Blog/2015/November/The-4-Major-Business-Organization-Forms.aspx)- Request your EIN from the IRS. This is absolutely necessary if you want to open a business checking account or credit card. My preferred way of financing has been to open up business credit cards with the 0% intro APRs. That way all I can pay the minimum without being charged interest for a certain amount of time. CAUTION: if you go this route, know there is a big risk if you don't pay off these credit cards before the introductory APR is up.STEP 3: Find manufacturing- This has been the most time consuming process, and you can definitely find yourself ripped off if you don't do your due diligence.- Decide if you want your product contract manufactured (this offers a lot more of your input and is completely custom designed) - OR- if you want to use private label (this is a formula the manufacturer already has that you can buy and put your name on it). Personally, I decided on the contract manufacturing route because there is a very specific feel and ingredient list I would like within my line.- Research and reach out to as many manufacturers as you can! You'll soon learn who you vibe with. Since I am BRAND new to this, I ended up choosing the manufacture that walked me through every cost, so I was never blind-sided. There was an added trust and in my comparisons, they were the middle-of-the-road price-wise. But, everyone will have their own preferences. Here is a basic list of questions I'd have for each company:* How long have you been in business?* What are some clients you have worked with in the past?* Do you assist with finding packaging/labeling? Do you have any packaging/labeling manufacturers you'd recommend?* What is the approximate timeline for production?* What kind of testing do you do?* What is your formulation fee?* What is the minimum SKU (units)?* After formula development, do you own the formulation? If so, do you have a process to buy the formulation from you at any point?STEP 4: Pricing- This step is actually more in line with manufacturing rather than after. It is VERY important to know what you want your product to sell for. That way, you can reverse engineer and find out how money you can put into that product to maintain that price. I ended up making an excel spreadsheet that compared all the manufacturers I was considering. It helped me get an idea of the differences between them that may not have been readily apparent.- Additionally, when pricing, skincare has a HIGH mark-up that I was initially not aware of. When selling retail (on your own website or store) you mark-up is 80%... this allows for a buffer when selling to wholesalers down the road where your mark-up is 60%. (I have it outlined in my spreadsheet, so if you're interested in seeing that then just PM me because idk how to post here).STEP 5: Research, Research, Research (Maybe this shouldn't be step five because it continues throughout the entire process)- As I said before, I am still learning. I can't tell you how often I frequent this sub to get ideas and learn about new ingredients. My main item on my line is sunscreen and there is a TON of information about good ingredients and how the stack up. It gets me excited to read about how I can make it betterSTEP 6: Design/Packaging/Labeling- In all honesty, I can't speak to this quite yet because this is where I am currently! If you're all interested, I'll continue to update my process and what I'm learning. IN ADDITION, if ANYONE has gone down this road before and has any further to add, please let me know!
Girls Blog 2015
Submitted by Npiperwarrior
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