When considering starting a line of private label supplements, one of the crucial things you need to decide is your market. With the supplement industry projected to reach $268 billion over the next five years, there is a lot of opportunity. However, with so many established supplement giants, it can be a challenge to be competitive without the resources. Niche markets like gender-focused supplements, sports nutrition, or plant-based offerings, offer the chance for small businesses to focus their efforts and resources on cornering a part of the market. Allowing for a higher return on investment. Here is how to define a niche market for your private label supplements.
Whether you are a personal trainer or gym owner, a nutritional health expert, or a healthcare provider like a chiropractor or acupuncturist, the best way to reach a niche audience is to go with your expertise. Marrying your knowledge base with targeted supplements will help you establish brand authority. It will also help you define your brand identity against the competition. Think about what expertise you can offer that is unique and build from there.
Once you have a general idea of your niche, you will need to investigate the market. Start by checking out the competition in your niche and determine what you will offer that they do not. Then define who your potential customers will be and create a buyer persona based on their habits. Investigate the avenues for marketing and sales. Once you have an idea of the niche market, you can draw up your business plan and design your product line.
Once your niche is established, you’ll need to determine what supplements are standard in the niche, as well as what trends are growing. For example, if you are focusing on weight loss supplements, you’ll want to include some standards like a fat burner, appetite suppressant, and a thermogenic. On top of the basics, you’ll also want to offer some of the newer supplements like MCT oil and white kidney bean extract. You need to make sure that when you work with a supplement manufacturer they will offer everything you need to grow your line, including staying relevant with market demand.
At Vitakem, we specialize in helping people define and target their niche. We are a full service supplement manufacturer that can help you do everything from select products, design your labels, and sell on Amazon. We want our customers to be successful in their niche markets, so we can help you define and expand in your ideal niche. Call us at 1-800-233-2112 to learn more.