If you’ve watched the show for a while, you know Lauryn and Michael are all about drilling into what makes brands (and people) thrive. They love sharing resources on how to be successful, especially as an entrepreneur.
Over our time on the show, we’ve sat down with so many supplements brands such as O Positiv, Fatty15, and Ritual supplements. Creators of supplements brands are some of our favorite people to talk to. They have so much to teach us about both launching a brand & nutrition.
Which, if you didn’t know, are two of our absolute favorite things to talk about! In fact, you can learn more about launching a brand from Lauryn’s solo episode here.
The health and wellness industry can be a super lucrative place to build a business. There’s a huge need for nutrition support, so there are a lot of gaps to fill when it comes to selling supplements.
But, there are a lot of moving pieces that go into starting a supplement company. If you don’t know what you’re doing, the whole process can be daunting & overwhelming.
We want to lower your stress levels while supporting you to start a supplements brand that’s simply incredible. So today, we’re getting down into the nitty gritty of building a supplement business. Whether you’re looking to start a side hustle or your first business, we’ve got the skinny on how to build a business plan that works.
How To Launch a Supplements Brand
Step 1: Research, research, research.
Research is the first step in building any supplements brand (or any brand at all, really).
To be able to provide your target market with a product that is useful to them, you’ve gotta figure out where the gaps are in the market. The gap might be a supplement that isn’t yet sold widely, or a supplement that does exist but could be made with less toxic ingredients.
Either way, you’ll want to know what niche you’re trying to fill before you try to fill it. If the market’s oversaturated with similar products, it’s going to be a lot harder to market your brand.
This step can definitely take a while! Brianna Bitton, co-founder of supplement brand O Positiv, shared with us that it took 2.5 years of research and development to make their supplement happen. You can learn more about their pre-launch process here:
Step 2: Define your brand’s core commitments & vision.
This is a crucial step when building a brand. Now that you’ve identified the gap in the market that you want to fill, it’s time to get specific about what you care about as a business owner.
You want to fill a gap with your supplement brand, but why? How will your supplement brand be different from others? Your brand’s core commitments and vision play a role in this answer.
Your company might be committed to making its products:
- Organic
- Keto-friendly
- Paleo/Whole30 approved
- Allergen-free
- Free from preservatives
- & more!
Ultimately, the values and ideals your company is committed to upholding is up to you. And these values should be determined before you go into any sort of development.
Step 3: Research the business specifics.
After you’ve determined what gap you’re going to fill, you’ll need to do a deep dive on what will actually go into making your product. This is where you determine the specific logistics of how your product will be made.
You’ll want to use your core commitments to help guide your research. This can narrow down the amount of research you’ll need to do.
Here are some of the things you need to research:
- Ingredients
- Supplement manufacturer processes (private label supplements vs. white label supplements)
- Packaging options
- Selling platform (e-commerce, brick and mortar stores, etc.)
- Fulfillment plans
- Label requirements
Step 4: Handle the legal side.
This might be the most complicated step toward creating a supplement brand, depending on your skill set. Getting things in order legally can take some time, so be sure to start it early. You want to be sure everything is in place before your product hits the shelves (or the site, if you’re using e-commerce).
Here are some legal loose ends you’ll need to tie up before you can launch your brand.
- Create a legal business entity (LLC, corporations, etc.).
- Register your business for taxes.
- Get official permits and licenses.
- Set up your accounting system.
- Obtain liability insurance.
Step 5: Establish brand identity.
This step focuses on how your brand will relate to its customers. Your goal is to use your creative side to establish a brand identity that is both unique and relatable. This identity should be influenced by both the product you’re selling and the target audience you’re selling it to.
For more on how to brand, check out this episode with Pia Mance. She taught us all about how to stand out as a brand!
Step 6: Find the right partners.
For your business to be successful, you’ve got to have the right partners. Maybe that’s an expert scientist in the field like it was for Dr. Venn-Watson of Fatty15, maybe it’s a logistics pro like Rashid Ali was for Chomps. Maybe it’s both!
To be able to find the right partners, you need to know what you’re looking for in a partner. Here are some tips on how to do that!
First, you’ve got to determine where your zone of genius is, and find partners to complement your strengths and weaknesses. To find your zone of genius, take some time to reflect on what feels effortless to you. Think about activities and tasks that can make you lose track of time.
These activities or “zones” of work are ones you don’t need help with. The right partner may be talented in the same areas, but they’ve got to bring something additional to the table.
Now, think about what makes time really drag by. What parts of the work are you dreading? Look for partners that love that part of the work. This will help everyone operate from their own zone of genius!
Once you’ve found the right partners, you might have to do some people management to ensure your product stays aligned with your vision. Here are some tips for managing people within a successful business from our episode with Loren Ridinger.
Step 7: Develop your product.
Product development time! You know all the fine details of how you want to manufacture and package your dietary supplement, because you’ve done the research. Now, it’s time to start working with companies to develop the actual product.
Step 8: Create a marketing plan.
Will you use traditional marketing, digital marketing, promotional marketing, or a combination of all three? How you spread the word about your brand is up to you! Here are some basics on each type of marketing strategy:
- Traditional marketing: think about where you would have seen ads back in the day. Billboards, tv commercials, and print ads are all included in traditional marketing.
- Digital marketing: any type of online marketing. This can include search engine optimization, social media campaigns, email marketing, and influencer marketing.
- Promotional marketing: this is where the consumer gets a deal of some sort for trying or recommending the product. Think 10-20% off for referring a friend, giveaways, and loyalty programs.
Step 9: Ensure your product is high quality.
To get everything ready for sales, you’ve got to make sure your product meets the right quality standards. This means clinical trials and quality control.
Clinical trials prove that your product works. They’re the evidence that the product is safe for long-term use and works well for your body. But, not all clinical trials are created the same.
Katerina Schneider, CEO & founder of Ritual, shared with us that many clinical trials have historically not included women. This is just one of many concerns there are with clinical trials. Check out the full episode for more.
So, when you’re running a clinical trial, you want to make sure the participants are reflective of your target audience. If you’re making a supplement designed for women, for example, your clinical trial should only include women.
Then, you’ll need to test your batches to ensure they were made correctly. This prevents any issues related to quality from arising after the product has launched.
Step 10: Launch!
Now that you’ve got everything sorted out, you’re ready to launch! It’s time to sell your product.
How To Make A Supplement Brand Stand Out
Identify your niche.
The easiest way to stand out is to niche down. The supplement industry is seriously huge, so you’ll need to focus on a particular issue consumers are facing. Choose an issue that doesn’t have a lot of similar products already booming in sales. It may seem counterproductive, but you’ll get farther by doing your own thing than by trying to copy another supplement brand.
This is why you want to do your market research at the beginning of this process. It allows you to niche down early on. This way, you don’t waste any time focusing on a potential supplement you can’t sell.
Be unique.
There are a lot of ways to be unique in the supplement industry, such as using premium ingredients or creating a unique formula. But, simply being unique isn’t usually enough. You’ve got to emphasize the areas where your product is different in your branding.
When creating logos and slogans, consider what your product offers that others don’t. See if you can indicate that through the branding.
Create a compelling story.
People connect with stories better than they connect with products. So, create a compelling story for them to connect with.
How? Start by asking yourself, “Why did I start this brand?” It could be a personal health transformation, research you discovered, or a community you want to help. Whatever your story is, make sure it’s relatable and authentic.
Customer testimonials are a great way to add compelling stories to your brand. This can add both authenticity and a sense of community.
Be transparent.
Customers are becoming more and more discerning every day, especially when it comes to what’s in their supplements. Nothing will kill your supplement brand faster than being dishonest about what’s in it. Be transparent about your ingredients so that customers can make an informed choice.
Provide a product that the customer wants.
As a brand, it’s a good idea to work to understand the consumer. Being in tune with what they want can help guide you to make more sales. Be open to receiving feedback & pay attention to the issues your target audience is facing.
Focus on the mission, not the money.
The best advice we can give you is to focus on your mission, not the money. Once you’re after only money, people can smell it. It’s off-putting. And, no one trusts a brand that’s only after money, especially not in the health and wellness industry.
You have the power to create your own incredible supplements brand.
We can’t wait to see what you do with this information. Maybe you’ll be the next big supplements brand to come on the show!
Being an entrepreneur is hard work. But, reading can make it easier! If you want to learn more about being an entrepreneur, check out Lauryn’s book club for books on business. You can also find more books on leading a successful life on her Goodreads.