The Home business owner Blog

 

Private labeling is a term used to connote where someone sells s third party’s product under his own brand name. A private label entrepreneur often has exclusive sale rights of that product and he or she can alter the product to suit his own needs.

This means that the product manufacturer is giving the seller the right to sell that product under his or her own brand name. Private labeling is often a path that can be chosen by any small business person to start his own line of products without necessarily manufacturing the product himself.

It is usually a win-win situation for both the manufacturer and the seller. the manufacturer gets to sell as much product as they want without having to market the product, while the seller who sells under their own brand name sells a product he likes without having to touch anything manufacturing. It means they can focus on getting the product to sell rather than manufacturing it.

Sometimes a small-time manufacturer may be able to get a big brand name to adapt their product and hence get more sales than they will have gotten had they been selling the product themselves. An example of a private label product that is successful is vivianlou.com a company that is selling insoles for women who wear high heels.

Why Private Label

-It enables you to Jumpstart a branded product business without having to manufacture yourself

-It cuts down the time to market and reduces the cost of having to manufacture your products yourself.

-It means you can spend your time selling the product instead of manufacturing it yourself

-It’s a market that is on the rise, consumers are tending towards private label brands as an alternative to already established name brands which tend to be pricey.

-You have control over your packaging, profit, and production.

-You can take advantage of a niche product and maximize the profit because you are a small business and can move quickly to meet consumer demands.

 

How to start a Private label Business.

Choose a Niche: Before you decide to start a private label business you have to do one thing which every small business does, that is to decide what your niche will be. What niche will you like to play in? as this will enable you to begin to find products that fall into that category. To read more about what a Niche is, get my free ebook on 6 easy steps from mom to mompreneur

For example, Health food is a niche, Green product is also a niche which many people are tapping into to start their private label businesses. A Niche can be either narrow or broad, for example, Green Products is an example of a broad Niche, a person selling in that category can sell anything ranging from food to clothing material as long as it meets the qualification of being a product that helps to keep the earth safe.

Source for a product: The next thing to do after choosing a Niche is to choose the product you want to sell in this Niche, for example using our Green products niche example, you can decide to sell reusable water bottles made from either glass or aluminum. This is because by doing this you are promoting the less use of plastic water bottles, you can also choose to sell shopping bags made from recycled materials. Whatever you choose to start with, make sure it’s a product which the market needs that is, there is a demand for it before you go ahead to start marketing it.

Find you Product manufacturer: Because a bulk of your costs will come from how cheap you are able to get your product manufacturer to manufacture your products, you have to take the time to look carefully for the right manufacturer partnership

This is because your entire business will depend on how successful this partnership works out, you do not want to choose manufacturers who will stand you up at the last minute or do not have the capacity to produce the quantity your market demands.

You also have to be willing to use people who understand that you will have the exclusive right to sell their products, this is where you will need to have someone who knows how to draw up a contract that prevents another person from selling the same products, you can also go as far as patenting the right to that product.

A good place to start sourcing for your products is to go to a platform where you have a lot of curated overseas factories ready to help you manufacture your product. The platform that is able to do this is sourcify. Sourcify has a lot of factories from all over the world who will help with your manufacturing process and cut down the time you will have spent searching for manufacturers on your own. Another platform you can use is Alibaba, in this case, you will have to source for the manufacturers your self and prequalify them by yourself. There are also others like esources too.

Create a brand: Once you are done with getting your manufacturer and initiating a partnership, the next thing is to create a brand for your business. I have written on how you can brand your home business in a previous article, so please read it for more knowledge.

Market and sell: To sell your products, of course you will need an online store, this is where you get to decide which online selling platform you will like to use, I wrote a post about online store versus online marketplace, in that post I enumerated the advantages and disadvantages of using either one of them.

If you choose to have your own standalone shop also known as ecommerce store, then you should be thinking of using either of Wix or Shopify. They provide you with the opportunity to have an online shop where you can showcase your goods to your customers. If you are a small business owner just starting out with a small budget, I will suggest you go with Wix, their prices are cheaper and you get a lot of free add-ons that will cost you less to operate.

 

Examples of Niches where you can private Label products

-Personal care products: e.g. shampoos, Body cream,

-Green Products; recyclable goods and products made with care for the earth

-Healthy Food

-Fashion Accessories

-Essential Oils.

-Clothing

-Gardening

 

To round up this post, I would like to reiterate that the world of ecommerce business is moving toward private labeling as a way to build small brands by small business owners to create value and also to offer alternatives to more costly established brands.

In my next post, I will be delving into 5 hot products that you can private label right now without much stress.

Did you enjoy this post? drop a comment below to let me know how you feel

Also, join our email list to get this type of posts more often.

 

 

In today’s post, I will be talking about how you can brand your home business and why you should build a brand as opposed to just starting a business.

The business world is fast evolving and people are searching for the meaning behind a business, the social media era has put so many businesses on the front burner and empowered the consumer to make deliberate choices about why they should buy from a business.

As a home business owner even though you are starting out small, you should be thinking in the long term, what do I want to be known for? You cannot afford to be a jack of all trades but you can afford to be the best of what you are doing right now, that’s why the topic of building a brand as opposed to just starting a home business is something you should carefully consider as you start your business.

A home business is usually overlooked when it comes to branding because people erroneously believe that branding is expensive and it’s for big companies alone. In this post, I am going to show you 3 ways you can cheaply build a brand around your business without spending much.

I will also reveal some resourceful places you can get materials to build a brand of your home business. I had like you to know that brands are mostly visually based and in the online world, visuals play a large role in people actually purchasing from you. If you have a great product but have not taken time to package it properly you may be making less than you should be from your business

Reasons why you should Brand your home business

Branding increases the value of your product:  Its easy for people to go and just pick up a product from the market and tell you how much it costs especially if it’s a common product that the price is common knowledge, but for a branded product its hard to tell how much the price should be because people are buying  what that product represents for them and not necessarily how much it costs in the market. A brand is a promise that people buy because they believe in it.

For example, you can buy a wristwatch from the shop for a price of $100 d and just wear it without feeling a thing. But the same wristwatch when branded with a known name like Micheal Kors suddenly takes on a new meaning for you. In fact, you are willing to pay more for that same product even if it was made by the same manufacturer, that is the power of branding you. A branded product is perceived to have more value than a product that is not a brand.

Branding tells your story: People buy from brands for a reason, your why is what will draw people to your products or repel them from your products. Your brand is the vehicle to tell that story well. When you use your brand to tell people what you want to achieve, you stake your claim on mind territories and get a share of what people believe in, they begin to expect that which you have mentioned from you and hence become more loyal to you as you fulfill your brand promise.

 

Branding differentiates you: Raise your hand if you want to look like anybody else, I mean you don’t want someone to look at 3 different products and be able to pick out your product out, that’s the value of branding, you define how you want to look like. Through the characteristics of your product, your customers are able to recognize your product from a mile away. This is the value that is inherent when you brand your home business and people are often willing to pay for that unique difference that is from you.

Having dealt with the reasons why you should brand your home business, now let’s get to 3 ways you can do it.

3 ways to Brand your Home Business

Get a Logo: A logo is that unique icon that is personal and uniquely yours just like you have a domain name, you cannot afford to have a home business without having a Logo that depicts your business, remember the part about differentiating yourself? getting a professional logo is part of it. Your Logo is like your unique identity telling people who you are. Remember how you can tell that a McDonald’s store is in a place just by seeing their logo, that’s how people should be able to tell your products from your Logo.

To make a Logo design these days is cheap, you can do one yourself using Canva or you can pay and use online platforms like Taylor brands, 99designs or even hire a professional to do your designs, whatever route you choose to follow either way you are taking the first step to differentiate yourself.

Crafts a Mission statement: What is your reason for starting your business and what do you want to be known for, this is the difficult aspect of doing business or starting a home business. Some people just want to start a business, they do not want to think through on these two aspects, your purpose and your reason. These two reasons will help you to differentiate your business from the crowd, people buy into why you are doing your business not necessarily because you offer a product or service, they want to know if your business affects lives positively or just for your own pecuniary needs. It’s from this why and purpose that you can craft out your mission statement.

Packaging is important:  Packaging is how you present your business to the consumers if you are selling a tangible product, its how that product is presented that matters, inappropriate packaging with labeling defaults or misspelled names shows someone who is untidy and lacks attention to details.

If you are online people will be impressed with the visual aspect of your product before they can buy, remember that they cannot touch your product physically so your chance of convincing them to buy from you lies in how well you present your product. Ranging from the pictures of your products to videos of product demonstration, it should beautiful, neat and appealing.

Also adding small accessories like tags, packaging boxes and labels for a small amount that can make all the difference in your product value.

Suppose you want to get tangible materials that are associated with your products at a very small price, you can head on to Aliexpress and get suppliers who will make custom products for you.

If your product is intangible, ease of access and clarity in communicating your values and services is key to branding your home business.

Finally, I cant keep it in any longer, we are launching a Brand new product into the coffee and Tea market called coffeesantea yeah that’s the reason it looks like I have been on holiday from this page, but I want you to be part of it. So please go here and read about our pre-launch activities. Participate and be part of what we are doing.

It promises to be fun and there are lots of prizes to be won, don’t be told, be there.

Do you want to get more of this type of post? join my VIP list, the exclusives that get the first scoop on what is happening here.