Dietary supplements are extremely popular among people of all groups and lifestyles. The industry isn’t showing any signs of slowing down, either. Supplement sales have been steadily growing for the past several years, and even last year when the economy was high by Covid-19, sales in the supplement industry managed to grow by 12.1%. While the growth of the level may not happen this year, it’s projected that the industry will still experience stable growth with an expected 6% growth rate in 2021 and a 3% rate in 2022.
With numbers like these, it’s little wonder why so many aspiring entrepreneurs see dietary supplements as the best way for starting a business. While they are promising, it’s important to remember that supplements alone aren’t a guaranteed path to success, and you’ll have a long way to go before establishing yourself. Here’s a close look at the industry and what you’ll need to succeed.
It’s likely that you’ll have a hard time if you try to be a jack of all trades, especially in the beginning. Like with any business, you’ll need to pinpoint a target audience and offer niche products to them. There are supplements of all kinds out there from vitamins and nutritional products for overall health to weight loss and protein products for fit models and exercise enthusiasts. It can be hard to stand out in already crowded markets.
You could try to offer something a bit more specialized, such as provacyl. This solution is like an HGH pill combined with a libido pill that’s meant to combat andropause (essentially, male menopause). This supplement is meant to boost HGH (human growth hormone) and testosterone by providing natural ingredients and an HGH releaser that tells the body to begin producing more hormones naturally. Provacyl also claims to boost energy levels, boost the immune system, increase sex drive, build lean muscle mass, and burn fat. Check out provacyl reviews to see if it’s a product you’d be interested in carrying.
Unless you’re looking to mix all of your formulas yourself in line with FDA guidelines for your supplements, you’ll need to partner with a licensed manufacturer. The good news is that there are plenty of reputable pros out there who can help you with manufacturing and shipping. Supplements can be sold without a prescription, and there are fairly minimal guidelines surrounding them, so it shouldn’t be too hard to find someone who can mix your formulas or even design them for you.
A good manufacturer can help you with packaging and shipping as well. Try to find one with private label services, as these will create custom packaging featuring your brand, so you can reinforce your brand image to customers. They can also send the packages to your brick-and-mortar store or ship them directly to customers if you’re running an online business.
Like with starting any business, you’ll likely want a lawyer on your side. This will help ensure that all of your licensing if required, is in proper order. A lawyer can also review any contract you have with your supplier. More importantly, a lawyer can work with your marketing efforts to make sure all of your claims can be verified and don’t break regulations.
For example, supplements should never be advertised as medication. While they can offer positive benefits, they can’t be used to “cure” anything and can’t be marketed as such. It’s also a good idea to list any common side effects to avoid potential lawsuits.
Once you have your business off the ground, you might even decide to use your products yourself as part of your tips to becoming a model or to lead a more healthy lifestyle. Just remember that even a supplement seller should consult a doctor before trying new ones.