Type of Products/Services Offered: Vegan,
Petroleum-Free, Paraben-Free body & skincare
products
Start
Up Cost: $50k++
What did start up costs go for: Startup costs
went to strategic planning sessions, consulting
fees, R&D, branding, manufacturing, planning,
accounting, training, printing, packaging, PR
campaigns, office expenses, phone, website design,
trademark filing, corp filing fees, local biz
licenses, legal. Initial consultants were for sales
strategy, branding, operational structuring,
marketing coach, publicist.
Earning Potential: $20 million+
Skills Needed: Understanding of chemistry, herbs
& botanicals & their effects on the skin.
Understanding of various skin conditions & how
botanicals can positively or negatively
react/impact. Most importantly being able to
identify my own strengths & weaknesses & surround
myself with experts, allow experts to do what they
do best & learn the process from their direction. I
have to understand the sales cycle,
manufacturing cycle, distribution cycle, economic
conditions with our suppliers & retailers, and be
completely in tune with market trends & consumer
demand.
Special Equipment
Needed: all manufacturing is currently
outsourced with our lab.
Best Customers/Target Market: Eco-conscious
consumers who are savvy about the products they
choose to use on their skin. Those who prefer
products that do not contain animal bi-products
(vegan ingredients), avoid petroleum &
preservatives, and still want a results oriented
solution that posseses a high-end appeal.
Any Tips?: 1) Identify & list your core
values; what's most important to you & your
business. This will be the core of your vision &
then your mission statement. ALWAYS be true to
your core values! ALWAYS!
2) Market Research - Google is a wonderful thing!
Identify companies you're attracted to & those you
dont care for. What are the differences? Which would
you choose to model?
3) Establish a relationship with an attorney AND
accountant before you do anything else! This will be
the foundation for your team & ensure that things
are done properly the first time around, save you
time & money AND propell your success even faster.
In the event you need funding, either angel or
traditional, these are the 2 key team members banks
& investors will be looking for.
