Many women and men the world over dream of starting their own business. There are very few business ideas that allow you the ease of access, scalability of startup costs, and personal expression as starting a beauty line offers. Before the internet, contacting the right people as well as doing your own research to stay informed was a difficult endeavor that was blockaded by various obstacles. Now, if you have a smartphone and a dream, you can take actionable steps towards that dream!
Phoenix Chemical has helped many big and small businesses alike in starting brand new product lines or modified existing lines and concepts by offering our performance-driven ingredients.
Through our own experiences with beauty brand owners and future hopefuls, we’ve compiled a few useful questions you should ask yourself if you’re thinking about starting a beauty line. While there are many business aspects to consider when starting any business, these questions are centered more around the philosophy of how brands get started.
1 – Who Is the Product For?
It would not be an understatement to say that there are millions of products out there. It can be daunting to see how much competition there is in this space when it comes to gaining traction as a new cosmetics business owner. However, don’t feel discouraged! While there are many brands out there vying for the attention of customers, try to remember that as the market increases, so too does the need for specialization.
Conversely, this means that you need to deeply understand just who it is exactly you’re selling to. Sure, you can try to make a product that is generally appealing, but that also means going head to head with cosmetic giants such as LVMH, P&G, L’Oreal, and many others. These companies have millions of dollars to supply to global marketing campaigns—as well as robust research and development teams that are funded by the best market research money can buy.
None of this is to dissuade you, of course, but to help you focus on the areas that are winnable when you’re just starting out. Our last post discussed some small brands that were born of out a real, grassroots need for products that can be offered to niches that are traditionally underserved by these big brands. Big brands tend to fail in specialty markets (they acquire companies who succeed) because what they offer in wide-ranging availability and accessibility (as well as competitive pricing that is often subsidized by invested parties so the product can remain cheap), they lack in character.
Phoenix Chemical has helped many brands stand out in the market through close consulting to develop well-targeted products that will appeal to our client’s intended demographics. We are first and foremost, cosmetic scientists. And so we provide unique formularies and cosmetic raw materials that can be tweaked in a manner of ways to reach your desired product.
When a customer seeks out a product, they’re not just looking for something that works. Whether they realize it or not, they’re choosing to ally with a brand’s identity, what they stand for, or what aesthetic they appeal to. This is something that small brands uniquely can leverage to bolster their brand and sales. If you take a look at most small brands that succeed, you can find that there is generally a narrative thread that’s easy to follow.
We certainly won’t advocate you make that up, if you’re passionate about starting a beauty line, then there’s almost always a reason behind it. It does not have to be complex, something simple that resonates with you is sure to resonate with other people.
2 – What is Most Important for Getting Funding?
While the idea of starting a cosmetics business usually begins with dreams of the brand, there is a reality that most people will need to acquire funding for the brand. Seeking out potential investors is a challenge when in the idea phase of your business. While we said we wouldn’t discuss the concrete—often tedious steps to setting up a business, getting funding for your beauty business will hinge on one thing in particular:
Do you have a story you can pitch starting a beauty line?
As we discussed in point 1, knowing who your product is for is based partly on what drives you to start your business. What are your personal tastes? Many people fill a gap in the market that they themselves would like to see filled.
When you’re pitching your cosmetic idea to potential investors, you’ll need a cohesive brand identity and story you can tell them to show them you’re serious and driven as well as have a direction and vision for the brand. The more specific you are with your plans for your product line, the better the chance that investors will bite. This advice applies at all stages of conception, as you could already have an existing beauty brand but are seeking to expand your line or create an entirely new line that requires additional funding.
3 – What Will Drive Your Marketing Strategy?
Robust marketing programs are the domain of highly successful businesses with a lot of reach and money to throw around. Most grassroots companies start at the most accessible place—social media. Even larger companies recognize how important a good social media presence is. The difference is that large companies can feel impersonal, whereas if you are just starting out, you have the advantage of being a real person that people can relate to and connect with.
Why does this matter? Because unlike many other industries, the cosmetics industry has far more personality-driven brands than many other categories. Ideally, your product line and your personal brand image will align perfectly. The best example of this can be seen with many beauty brand owners who are extremely passionate about being eco-friendly and supporting sustainable practices.
Their brand image is conveyed through social media where they prominently display what that lifestyle entails—the most important of which is their product line which fits right into that niche. We have a lot of experience in this particular category as our Green Chemistry Program draws the interest of many cosmetic companies and individuals that wish to start their own eco-friendly, plant-derived cosmetic lines.
Cosmetic Manufacturers For Beauty Businesses
Whatever your product vision is, let Phoenix Chemical make it come to life. Our synthesis chemists are always pushing the technical boundaries of product innovation. After all, how effective the base qualities of the cosmetic raw ingredients you use will dictate how your product looks and feels. Being able to decide how your product will feel and look is the first step to marketing towards your intended audience. We offer this level of control to our clients because we are confident in the competence of our chemists.
Custom synthesis for cosmetic products is our specialty. If you’re seeking to develop a product line for your beauty business, contact us today!