Can you imagine creating your own skincare brand as a side hustle? Do you know that it’s quite possible to design your packages, or even work on the product formula, so you can fill some gap in the market? The profit is just a bonus in these cases.
Skincare is such a huge thing from the beginning of the pandemic, until now. Before 2020, we all knew it was important to remove makeup and hydrate your skin. We were buying creams and serums based on ads, without even getting deeper into the issue.
But now, in 2023 we are aware that organic and natural are just some labels on the products, and we must combine them with some “chemistry” to get most of the cosmetics.
Trends are changing too. First, we were all about clean ingredients, and layering them on our skin, like vitamin C emulsions, retinol serums, and hyaluronic acid, as needed. Then, K-beauty products took all over the market, offering soothing serums with a minimal percentage of active ingredients.
Today, we see how brands extract active ingredients from organic resources, and reformulate them according to the market needs.
Still, many people stay true to their initial habits and use the products that work for their skin best.
Well, if you want to start creating cosmetics yourself, we have some tips for you:
Find an economical way of production
No one expects you to turn your home into a science lab. On the contrary, many owners of a personal collection opt for a private label skin care manufacturer that suits their needs. That way you get a pure formula that you can patent and a combination of ingredients that respond to specific skin problems.
Focus on a primary product
Knowing that you have the opportunity, you would certainly like to make a whole line of products. But our advice is to focus primarily on one product. For example, let it be soap or serum. Then, test how the audience reacts and if there is interest. Use the feedback to work on better products. Don’t ignore negative comments either, because it will help you to be better in the future.
You need to evolve and grow. Big brands don’t need it, because they are already established. Most of the time, their only activity for decades is the redesign of the packaging, and even they do it properly and sensibly. Of course, if your carrier product is a serum for a specific purpose, perfect it and then experiment with extending the line.
Research the ingredients
Private skinner brands have an ingredient offering that matches a variety of product formulas. It’s up to you to research what exactly you need and how it will benefit your skin. That way you yourself participate in making the product and building the brand.
Research the market
There is always the possibility that someone already has the same product that you envisioned as revolutionary. That is why you must always research the market offer and the competition. That way you will see how trendy and valid your ideas are.
Sometimes this means that you have to buy a few products from the competition yourself so that you can understand the texture, the structure, the effect, and even the branding. And there’s really nothing wrong with that. Anyone who is successful at what they do has learned how to do it better than their biggest competitors.
Invest in branding your product
The brand is your identity by which consumers will recognize you. What does that mean?
First, you need to find something that will make you stand out from the rest. It can be a completely ordinary name or one that is unique. You can use basic neutral colors or experiment with something above that. Of course, you can always work on improving the initial version of the logo and the motive behind your brand.
Furthermore, you need to find a way to sell the products. Take advantage of social networks and the Internet. Sometimes there is really no need for physical presence in drugstores and beauty salons. It is enough to focus on online branding and wait for what happens after the first orders.
One interesting idea is to arrange to give away free samples or gifts so that someone can test and give an honest review of your product.
All this results in the creation of a brand voice, online presence, recognition, and reliability. These are the basic elements of any brand and the identity you are building.
Plan your money smartly and wisely
You should consider whether you’ll be funded before setting aside a realistic budget – otherwise, you may find yourself struggling to fund your business.
Your cash flow will be in negative territory until you start selling the product. You should consider how you’ll be financing your business. Will you be self-funding, applying for a business loan, seeking investors, or something else? Being able to clearly see where your money goes every day is helpful. And avoid being pulled into any exciting new ideas before they’re ready.
Follow the regulations of your market
This is one of the biggest challenges you will face. If you’re wondering why a certain product doesn’t exist, even though the need is more than obvious, it’s likely that the regulations don’t allow it.
Sometimes people want to buy a product, but it may happen that the ingredient is controversial or the formulation is a certain danger to the environment. In such a case you should either look for an alternative or focus on a global market.
Of course, this is too big a step for beginners. Therefore, the focus on the local market is more than recommended.
Now you have all the tips and steps you need to start your own cosmetics business. Who knows, maybe it will turn from a side hustle into a basic source of income. We should never be closed to options. On the contrary, it is useful and healthy to have expectations about what we do. That’s the only way we could focus on a job that makes us happy, but also brings us enough money.