Consider These Following Things Before Starting A Herbal Product Business
Herbal Products are ancient healing tools with important modern applications. Consumers worldwide prefer herbal beauty products such as skin care products, hair care products, make-up products and others. The Indian beauty industry has seen huge growth in the last 10 years, simply by paying close attention to its shoppers’ needs. The market share for herbal beauty products has been increased considerably as compared to synthetic beauty products. So if you are thinking of starting a herbal business, consider these following things.
A herbal business is just like any other business. The first and foremost thing to do before starting any business is to conduct a market research. You are required to know about the target audience, the challenges and trends in this sector. Knowing your market will increase the success rate of your herbal business.
Know your herbs
Before venturing into a herbal business, you should have the basic knowledge of herbal remedies and applications. You need to know about each herb that you are using. Ensure that your products are both safe and effective. You also need to understand the contradictions and possible interactions of the herbs that you will be using.
Licensing & Registration
Contact your city and state revenue departments and get the licenses necessary to run a herbal business. Follow FDA labelling requirements for your herbal business. FDA labelling is required to designate them as food supplements rather than medicines. Research about the herbs which the FDA considers unsafe, such as ephedra, and do not sell them.
Set up a space for your herbal business. If you will be growing herbs, lease or buy a plot of land, as well as fertilizer and seeds. If you will be retailing herbs, lease a storefront in a part of town frequented by your target market, such as an affluent area with yoga studios and natural food stores. Outfit your retail location with shelves for inventory, books and accessories such as mortar and pestle sets. Purchase jars, scoops and labels for bulk herbs, as well as packages of herbs and tinctures, or liquid herbal preparations.
There are various marketing strategies you can use in promoting your business. Market your herbal business by advertising in venues that appeal to your target market. Connect with naturopaths and other holistic health practitioners who recommend herbal products to their clients. Also, create a creative and informative website describing your products and services.