What to Consider when Developing a Beauty Brand
What to Consider when Developing a Beauty Brand
Creating your own beauty or wellness business can be daunting, with a new brand practically launching every week. A beauty brand is not something you develop on a whim; it requires careful thought and consideration, as well as considered financial planning each step of the way. Here at Bespoke Advantage, we help upcoming entrepreneurs and well-established businesses to build beauty and wellness brands from “concept to shelf”.
Many of our clients come to us with an idea in mind, but no clarity on which direction to take to launch their idea. In the beauty industry there are several ways in which you could build a brand – whether you decide to create a white label product or to go down the route of developing something bespoke or under licence. For now, though, let’s focus on the benefits of white label versus private label and what you need to consider when reaching a decision.
White Label
A white label product is an off-the-shelf formulation, placed into your own branded packaging. It’s ideal for small businesses who are looking to sell branded products but don’t need to create their own formulations. It might be shocking for consumers to learn that many cosmetic beauty products, from different brands, come from the same source and may possibly even have the same ingredients.
White label products can be sourced quickly and with low minimum order requirements but aren’t suitable for everyone including established brands or retailers. This is because the formulation is owned by the manufacturer, not the brand. However, it’s a good initiative for beauty salons and single stores looking to add value to their current product ranges. You will need to have a solid idea of what types of product(s) you would like to create.
Private Label
Private label products are created and made by a manufacturer who then allows others to sell them under their brand name. Buying the formula is beneficial otherwise the manufacturer will own it. Some retailers have experienced not doing this and then later found themselves not being able to change their suppliers, as the don’t own their formula.
With a private label brand, you can own the formulation, have total control over what’s going into it and how it looks, but you leave it to the professionals to develop it for you. Development costs can be more expensive, and the products can take longer to manufacture than white label, however private label allows you to create something that is unique without the risk of mimicking other products on the market. Noticing a trend in the market towards a particular ingredient allows you to adjust or re-formulate a product quickly.
Under Licence
Developing a product under licence means that the brand owner, owns the brand, but that you can benefit from using their strong brand name and applying this to your products, whilst paying them a royalty. This can be a very good way of building a new product range, leveraging the value of an existing brand that has good brand recognition. You don’t own the brand; however, you can create success through leaning upon the power of an already well-established brand.
USP
Niching – which is having a distinctive USP – is critical when building a brand. It has far-reaching implications across your company. It provides your business with a distinct point of view, a distinct way of working and a distinct solution. It helps you with the development of your product range. There are many ways in which to create a USP – from packaging, to ingredients, pricing, and branding – all of which can differentiate your brand versus others.
It’s not easy producing your own brand let alone the formulas, when developing your products, take into consideration the following factors, which will influence the direction you may wish to take.
- Budget - Think about which products you need, the quantities you require and the budget you have available to spend.
- Time scale – When you would like to launch - private label does take longer but you will own the formula.
- Ingredients – consider if there are ingredients you would like to include to make claims or to differentiate your brand.
- Consider your claims - Your manufacturer must be able to support any product claims you wish to make, such as UK made or suitable for vegans.
- Comparing quality - request samples from manufacturers so you can compare product quality.
Bespoke Advantage Brand Partner
Having developed products across categories working with leading chemists, packaging companies, graphic designers across Europe, US, and Asia we understand the countless decisions that go into planning exactly what you want and the importance of having a clear process in place from the moment you start creating your brand.
We apply a holistic 360° cross-functional approach to developing products and brands that offer a distinctive point of difference and meaningful results. As a brand management company, we provide you with brand creation, product development, marketing and PR and sales services to grow your business across this industry - whether you are selling direct-to-consumer or through bricks- and-mortar.
Where and how you sell your product very much depends on the product, your preference in terms of customers, and your long-term vision for your business. Sales strategies have changed immensely over the past year, but on the plus side it has opened the market, providing you with many routes through which to sell your products to your customers.
If you would like to develop a new brand, or you have an existing brand you would like to launch to market, get in touch…Bespoke Advantage are here to help you.
Bespoke Advantage is a UK-based brand management company working with clients across the beauty, spa, and wellness sector to develop their brands from ‘concept to shelf’. Their award-winning portfolio of clients include beauty and wellness brands, professional spas and salons, investors and entrepreneurs based in the UK and internationally – www.thebespokeadvantage.com.
If you are looking to develop a new brand, or you have an existing brand and are looking for support, we would love to hear from you! Visit us on stand WL750 and let’s chat.