How Do I Start My Own Cosmetic Line?
New cosmetic brands are born almost every day. Some become quite successful, while others fail to appeal to consumers. One thing does, however, seem to make a difference between those that prosper and those that do not: proper planning and the right approach to this very demanding venture. The formulation of cosmetics is an exact science governed by many requirements. Starting a cosmetic line is therefore often a question of finding the right tools.
Cosmetic Software: An Indispensable Part of Starting a New Cosmetic Line?
A very important part of starting a new cosmetic line is compliance. This may sound disproportionate for small businesses wishing to commercialise hand-crafted hygiene or beauty products, but it is, in fact, absolutely central.
One way to ensure that the formulation of your cosmetics abides by the many requirements the industry demands is to choose the right type of cosmetic software. Its role in the success of your cosmetic line may even be instrumental.
Not only does cosmetic software assists in product development thanks to a reliable database of ingredients used in cosmetics, but it helps you craft safe and effective formulas. It will calculate the recommended ratios for each of your raw materials and, once you are done, the INCI will be generated automatically.
Cosmetic software is not the prerogative of large corporations. Small businesses can also utilise it to make sure all the documentation pertaining to their cosmetic line follows the standards and regulations of the country or countries where they wish to sell their products.
Study, Research and Testing
Whether you already know the exact products you wish to include in your cosmetic line or you need to develop them, you should always conduct a market survey. For a very small brand, this could simply include being aware of what the competition offers and at what price and using social media to test the response of your target consumers.
The product development phase is when the formulation of your cosmetic products comes into play. As explained above, this crucial stage can greatly benefit from the adjunction of cosmetic software to your processes. When running tests to develop your formula, this tool will help you tick all the boxes in terms of product efficacy and legal requirements alike. It will give you all the confidence you need to create a quality product and to make the right decisions as to packaging and labelling.
The Business Behind Your Cosmetic Line
Take the time to determine what type of business structure you should adopt for your company and make sure it suits your tax needs. Never hesitate to make a list of the pros and cons each option provides before you decide.
You will also need to register your new company and to carry out a trademark search. The goal is to pick a company name that has not already been taken. If you want to be absolutely sure that you will not infringe on any other trademark, seek the help of an intellectual property lawyer. Before you commit to a name, secure your Internet domain and social handles, even if you don’t plan on having an online presence at first. Although having one is highly recommended.
You should also think about your marketing strategy and try and adapt it to the formulation of your cosmetic products. For instance, you could select an age group or a certain set of values that you wish to emphasise.
Finally, you should give your cosmetic line company its own bank account. This will be useful whether you are funding your venture yourself or relying on crowdfunding, a loan, or any other solution.