The cosmetic industry is a lucrative arena offering several opportunities for those who wish to make their stand as a own brand products (produk jenama sendiri). You need not worry about the heavy competition and the presence of biggies in the market. Although there can be several competitors, the demand for cosmetic products is high enough to let even beginners reach many customers in a short span. As you can work with an OEM to develop formulas and manufacture those products, your works will be reduced. There are several such OEMs out there in the cosmetics industry. However, you would have to go through the following activities to start the business.
Activity 1: research
The primary activity before the launch of your business will be research. Research does not mean the simple accumulation of general knowledge about the cosmetic industry but it should be deep enough to let you understand the mindset of the customers and the approaches of the current competitors. In this research, you will get a clear idea about your approach and operation plan that are necessary to succeed.
Activity 2: product confirmation
The cosmetic industry is vast and you will get lost in your count if you try to dictate all the varieties of products. Hence, selecting the best product is a big task. You should have the demand for the product and the availability of it while selecting one. Depending on all these factors, you should end up with few potential products that can bring you revenue.
Activity 3: OEM selection
After confirming the products, you should search for the best OEM manufacturer who can develop and supply the selected product in desired lots. You should ensure that the pricing falls within your budget.
Activity 4: launch
Once an OEM is fixed, you can develop and launch the products under your name.