Deciding to have your own products on the shelf is a big, exciting step in growing your business. It gives you a presence in the marketplace that sets you off as unique: your own products. Private labeling is a great way to beginning your own brand and building a broader future for your company. There are a few things that are important to manage so that these first steps lead toward success. Some of the steps are obvious, but some of them are not.
You will get assurances from the suppliers of the things you are putting on your shelves that the details are being handled by you. Maybe. But maybe not. Some things need to be checked and verified along the way so you can avoid the problems that can hurt your new brand.
The important thing is that it's your brand that you are building. All of the glory comes from its success. All of the responsibility also comes with it. It's your name on the label as the distributer. Promises made by suppliers can fall by the wayside if things go sideways, so plan on taking the responsibility for all of it from the get-go and you'll be in good shape.
Continue reading this story in Beauty Store Business' February digital edition.
[Image courtesy of Howard Baker]