Challenges and Opportunities in Private Label Supplements

When it comes to launching a private supplement brand, the challenges may feel daunting but taking this step can bring big opportunities in the long-term.

With help from the right supplier, integrative physicians and savvy entrepreneurs alike can understand common challenges and successfully navigate potential roadblocks along the way.

What are Private Label Supplements?

Our full guide explains the phrase “private label supplements” to mean that you—a healthcare provider or a business person—put your own branded label onto supplements with the supplier’s permission. This saves the time and energy required to start from scratch and develop each product yourself.

By partnering with a trusted supplier, you can ensure the private label supplements you bring to market contain only high-quality, pure, and potent ingredients that do what they are advertised to do. An effective partnership solves many of the potential pitfalls of selling your own line and assists you as you explore the exciting opportunities before you.

The Opportunities in Private Label Supplements

To make this a true win-win for both you and your customers, you’ll want to do some research on your ideal customers’ needs to see how existing supplements in the marketplace address them. If the supplement you want already exists, you can simply label it with your own branded information.

If the exact formulation doesn’t exist, you have the chance to develop it. Working with a team of experts, a full turn-key supplier will assist you with ingredient selection, regulatory compliance, marketing graphics, and quality control. Check out our full guide on Custom Formulations for more information on this process.

Offering your own line of branded products helps build your customer or client base and keep them loyal to your brand. If you’re an integrative medical provider, adding private label supplements to your office is a great move. This adds credibility to your practice and a revenue stream to your income. Patients also appreciate the convenience of purchasing supplements straight from a trusted provider, available on site to help them choose the most appropriate products for their specific needs.

As trends in the vitamin and supplement industry shift year to year or decade to decade, you can position your business to address the current needs and wants of your customer or patient base. There is flexibility in offering your own private label supplements, allowing you to add or remove products as they fall in and out of favor in the health and wellness industry.

Partnering with a reputable supplier is key to realizing these opportunities. Choose one that offers you support through the entire process of selecting, labeling, and marketing your products. Make sure they allow low minimum product offerings and order quantities while you’re starting out, to minimize financial risk.

The Challenges in Private Label Supplements

Before you jump online and start your own line of private label supplements, make sure you’re well aware of the challenges associated with this exciting opportunity.

While we assert that many people can be very successful at launching a private label supplement line with a healthy dose of hard work and research, it’s not a guarantee. Like any business venture, you must be prepared for anything and stay ready to adapt to challenges throughout the process.

Here are three areas that can be particularly cumbersome as you develop and launch your private label supplements:

1. Labeling Laws. Check out our recent article explaining the role of regulating bodies in determining how to label your supplements. “While the FDA’s practical purposes center more on assessing how well a supplement brand is following existing laws related to safety and labeling, the FTC is specifically concerned with how the product is marketed.”
2. Market Research. Who is your ideal customer? What problems do they have? How can your supplements address their needs? Generally, you want to offer products that are currently trending and market them toward the best audiences. Social media can help.
3. Pricing Inventory. You’ll need to know how similar formulations are priced on competing sales channels like Amazon and CVS, and stay close to that price point. Patients and customers will attempt to save money by shopping around; don’t saddle yourself with tons of expiring inventory, but be sure to have enough supply for their demand right from the start.

Related Content: FDA AND SELLING SUPPLEMENTS: WHAT YOU NEED TO KNOW

How to Overcome the Challenges of Selling Private Label Supplements

Like all worthwhile things, having a successful private label supplement line takes hard work and can come with both ups and downs. To navigate these challenges, educate yourself on your industry and be sure to partner with a reliable, trustworthy supplier for your products.

While you might be new, the supplier has done this before. A great partner will walk you through every step, ensuring high-quality ingredients and effective formulations, compliant labels, and memorable branding. They will help you arrive at a reasonable price point for each product and order an appropriate amount for your initial or monthly supply.

The better you understand your customers, the better you can create a private label supplement line that addresses their most pressing needs and wants. The better you understand your competition, the more effective you will be at pricing and promoting these products.

Conclusion

What might feel like a dream is actually within your reach. Once you understand both the opportunities and challenges associated with launching your own private label supplements, you’ll be better positioned to make this a lucrative addition to your business model.

Remember, you’re developing a brand for the long haul, not just looking to sell one product one time. Focus on building trust and growing a loyal consumer base for your product line as it expands. Promote repeat purchases by using high-quality, potent, bioavailable ingredients and adapting your future products to the trends and interests of your consumers. By partnering with a reputable supplier to advise you throughout the journey, you’re setting yourself up to overcome any challenges you encounter.