When starting your cosmetic / beauty products business, you need to have a “niche” and that niche cannot be organic or natural. There are many untapped niches in the beauty industry for instance:
- Skincare for the elderly.
- Skincare for certain types of athletes (swimmers, runners etc).
- Skincare for teenage boys/girls.
You need to find the niche that works for you and then target that niche with your unique brand.
The cosmetics / beauty industry is in a state of flux. Traditional brands ( Revlon, L’Oreal, Lancóme, etc) are viewed as old. The consumer is looking for more holistic and healing benefits from their skin care products. They are no longer content with just the appearance benefits offered by traditional brands. Today’s consumer is more informed and more inquisitive about the benefits of their personal care products. Their skin products needs to protect them from the sun damaging rays. Also moisturize their skin and reduce the effects of aging.
You need to decide whether you will be producing your beauty/cosmetic products yourself in your own lab or home lab, using a contract manufacturer or opting for private label products.
The cosmetics industry is one of the growing industries in the country with a number of industries. Unisex beauty cosmetics with many branches, and other small businesses have joined the industry. Despite the increase in cosmetic industries, customer demands are not fully met due to the increasingly growing population. Poor delivery of cosmetics to customers also add to the problem.
Cosmetic and beauty products include but not limited to: perfumes, make up items, hair care products, face creams, lotions, deodorants nail polishes etc. The cosmetic industry is one of those businesses which are not affected by economic downfalls or unpredictable incomes as every woman and some men use some type of cosmetic product to maintain a healthy and fresh look.