Starting your own skincare line sounds romantic. But there is a vast difference between being passionate about skincare products and running a business that sells skincare products. Countless people have a specific skincare regimen and know the minutiae of various ingredients. But it’s another thing to synthesize that understanding into a business model that actually generates revenue.The good news is that the skincare industry grows year after year, so new brands can always enter the marketplace of this ever-growing sector if there’s a need and specific gap to fill.
Fill A Niche In An Oversaturated Market
Skincare brands are everywhere. From big conglomerates to influencer lines to new startups emerging each month, it’s neither realistic nor wise to try to compete against multimillion-dollar advertising budgets. Instead, new brands that successfully make their way focus on niche gaps to fill. For example, is there not enough sensitive skincare product options? Little with unique formulations? Demographics often left out of the conversation (big brands skip over this market) suggest there are successful new brands to be had where industries are lacking.
Therefore, it’s important to research. Find existing reviews online that repeatedly cite gaps. Join skincare forums to see what people want but can’t have. The best new business ideas come from the frustrations currently available.
Market Your Brand
Once launched, a brand needs to be recognized. Therefore, marketing your brand from day one is crucial. While social media continues to reign supreme for beauty brands, organic reach becomes increasingly more challenging without paid promotion. Consequently, many new startup brands have relied on advertising to create brand awareness and reach willing customers. The sooner new brands can push display ads, the better. They can reach target demographics, meaning tighter marketing budgets can stretch even further.
Furthermore, building an email list from day one will help later. With a small incentive (discount/freebie) to get an email, one generates interest, and sending consistent missives for restocks/new launches generates buzz. Email subscribers convert better than social media followers because they’ve already demonstrated interest.
Learn The Regulations
Considering skincare products go directly onto consumers’ faces (and other parts), regulations for what can be sold and how they must be labeled are strict. Different regulations exist from country to country, but in general, testing, ingredient disclosure, and manufacturing standards apply. Therefore, before creating what will be sold, research the cosmetic regulations of the marketplace.
Hiring a cosmetic chemist will seem expensive, but it saves a ton of time and effort. Cosmetic chemists know which ingredients are safe to be used in conjunction, how much of each needs to be included in formulations, and how to ensure they don’t separate/get gross quickly.
Understand Branding
What is inside the jars means just as much as what branding looks like it. Perceptible identity goes a long way. What does the brand say? What demographic is it targeting? A brand focused on teenagers with acne will take one route; a brand focused on those in their forties looking for anti-aging serums will be another thing entirely.
Even the aesthetic of the packaging will determine if people even pick it up. Some brands do well with minimalist options; others require color and graphics. It needs to be functional, as well; a clear bottle will look amazing on a shelf but ruin any product with vitamin C or retinol that degrades when exposed to light.
Start Small
Starting with an entire lineup is costly and risky. Most successful entrepreneurs started with one or two products that filled a specific need exceptionally well. This reduces initial investment potential and also works well as a test run before larger-scale formulation.
Consider starting with products that are easier to create. Generally speaking, oil-based products have longer shelf lives than water-based products; therefore, face oils or balms will work better for you than watery solutions. Get feedback before launching something sizeable. Sent samples to those who fit your customer profile and give specific feedback (texture, scent, etc., would they buy this?)
Production Costs
Making the products myself or hiring a manufacturer depends on the needs. Simple formulations with few ingredients can work well with DIY initial developments, but anything more complex will require either a manufacturer’s assistance or at least their insight after some time.
Finding a reputable manufacturer takes a while, but samples of their products, valuing minimum order quantities, and strong price points help eliminate problems later. Some manufacturers seem inexpensive only to charge additional premiums for labeling or packaging or shipping costs that add back in the expenses. Buying inventory is also tricky; products have expiration dates, and initially starting conservatively is best until buyer demographics become clear and better orders can be made.
Build Loyalty
Focus on repeat customers who love your brand so much that they spread the word to their friends. One-time customers from a viral TikTok video won’t be nearly as valuable as loyal repeat customers who come back time and time again because they’ve become trusted ambassadors for your brand.
Good customer service, consistent quality, transparency of mistakes (when they happen) and immediately fixing them at no cost with good faith goes a long way. How you respond to inquiries (online or via email) will dictate how customers will respond to you and your brand in the future.
Make It Sustainable
The skincare industry has long been under scrutiny for noneco-friendly practices. From packaging waste to sourcing of ingredients to animal testing efforts, it’s easier to start with sustainable practices in mind than it is to retrofit later once operations become streamlined.
This isn’t to say that everything must be perfect from day one, but having specific values instilled and championed mean a lot more to consumers today.
Therefore, while starting up may come naturally for those passionate about products, there’s so much more beyond the products themselves. From researching regulations to establishing cohesive brand identification to managing logistical production concerns and establishing consumer relationships that are authentic and meaningful. Anyone with the drive and patience to learn along the way can transform their passion into something real.
