How to Start a Perfume Business Fast
To perfume lovers, a good scent is more than a necessity, it is a status symbol. This makes them more than willing to pay any amount within their budget to have a pleasant and unique scent. Perfume manufacturers on the other end are working ...
To perfume lovers, a good scent is more than a necessity, it is a status symbol. This makes them more than willing to pay any amount within their budget to have a pleasant and unique scent. Perfume manufacturers on the other end are working year on end to make sure that their clients never run out of choices.
Annually, hundreds of new scents are released into the market to their ever-ready consumers. With consumers never tiring of buying new fragrances, perfume commerce is highly recommended for companies as well as independent perfume manufacturers.
Despite the highly competitive nature of the industry, you can still manage to start and operate a successful perfume business. If you have ever wanted to start your perfume business but were lost on how to go about it, worry no more. We have done extensive research and compiled a comprehensive guide that will allow you to get into business quickly enough, here is how;
- Step-by-step guide on how to start a perfume business.
- Other important factors to consider include;
- Final Thoughts
Step-by-step guide on how to start a perfume business.
Having a solid business plan will help you avoid a lot of pitfalls that startup businesses fall into. Factors to consider when writing your business plan include;
This encompasses your business name, logo, values and mission. It is important to come up with a brand that customers can easily identify and relate to. Your name should be unique and it should easily communicate what your brand is all about. Once you settle on a name, you should go ahead and register your business with your local business licensing authority.
Identify your target market
The perfume industry is highly competitive hence you need to identify a market that will be responsive to your product. Demographics of your target market could be based in terms of gender and age group. Also, keep in mind that a good percentage of today’s market is more leaned towards eco friendly, sustainable and gender-neutral products; consider how these might influence your business.
Perfumes can be incorporated into a variety of products such as deodorant, body splash and cologne. When thinking of your product, you need to identify if you will be providing one scent on different products or different scents on the same product.
Are you going to be making your scents or are you going to be in the retail business? Are you going to have the traditional physical store or will you be venturing into the eCommerce space or will you be incorporating both? Online stores are easier to start, however, keep in mind that products like perfumes, customers would want to smell the product before making a purchase.
Once you are decided on all the above-listed factors, the next step is to start creating awareness around your perfume business. Marketing is a very crucial aspect of business regardless of whether they are startups or not. Your marketing strategy can help you set off your business to success right from the onset. Before settling on any marketing strategy, you first have to identify what sort of message will likely appeal to your target market. Keeping all these factors in mind, you then need to analyze possible marketing strategies and figure which one will work best for your business. Marketing strategies that you can implement include;
Drive attention towards your products
The most effective way of doing this is by providing a few free samples to friends, acquaintances and family or even random people on the streets or at flea markets to wear. If they like it, they will wear it and chances are that someone else will like it too and enquire about it.
The internet holds a lot of power now more than ever. With everything now becoming digitized, people are spending a lot of time in front of their screens going through social media platforms and emails. To promote your business, you can seek to advertise it on the various social media platforms; perhaps even work with influencers to help increase your visibility.
Sell to local retail shops
Sometimes people find themselves purchasing perfumes on impulse. Approach local boutiques, hair and nail salons, spas or even convenience stores and ask if they could have your perfumes displayed on their shelves for their clients; For a cut of the profits, most people are likely to agree to it.
Pay for advertisements
This applies to both online and offline ads. Ways in which you can advertise your merchandise online is through sponsored ads on platforms such as Facebook and Instagram. These apps will filter the most relevant people and show your promoted ads to them. You can also pay to run your ads through YouTube channels and on blogs that are in your niche and have a huge following.
Offline advertisements can be in the form of print ads that can be published in the dailies or on a well-known fashion and beauty print magazine.
Other important factors to consider include;
Ensure you package your products attractively. Product packaging comprises bottles, caps, boxes, labels and any desired artwork. If you are making your perfume, you need to find yourself a reliable supplier to provide you with this packaging.
If you are getting into the business as a retailer, you will require to find a reliable and efficient wholesale supplier for your store. On the other hand, if you intend to be making your scents, you need to source for a reliable source of raw materials that you will use. Ensure the ingredients are easily accessible and at an affordable price.
Source for filling company
This is especially for those who choose to make their scents. At first, it is quite economical to fill up the orders yourself, but as the business grows, you will need to outsource the services of a filling company. On average, the minimum order that can be placed is about 1500 pieces per order.
There you have it!
Simple steps to get you to actualize your dream of starting a perfume business. All you need is to have a good nose for which scents mix to make a unique product.