By Kristin Barton
When massage therapists and other wellness professionals work for spas, fitness centers, and salons, they often make extra cash selling the company’s products to their clients. Commissions can really boost revenue and if the wellness professional believes in the product line, it’s a win-win situation. As a self-employed wellness professional, carrying quality products to sell to your clients is a nice way to add to your revenue and serve your clients. But why should you line the pockets of some big company for small commissions when you could carry your own line of products and decide for yourself what your profit margin will be?
You might think that it takes major bucks to start a product line. Yes, there is an investment, but with a little research and some business savvy, you can get started for less than you think! There are a couple of ways to go about creating a label and deciding what products to sell. The simplest plan is to go with a company that specializes in selling you pre-formulated products that will carry your company’s label. If you are convinced that the company’s products are good and you can stand behind them, this can be a fine way to go. Here’s an example of one such company: http://pravada.ca/products/ However, there are wholesale companies that will partner with you to create custom blends using their products as building blocks, which leads to a more exclusive product. I was even able to find one company that offers small runs of custom products for start-up entrepreneurs who don’t have many thousands of dollars to begin their brands. Here’s a link to that company: http://www.bulkapothecary.com/massage-oil-lotion.htm Massage therapists, estheticians, and energy workers will find that luxury spa products are great impulse purchase items to display in the office. Think deliciously scented lotions, lip balms, sugar scrubs, and the like. These products make great gifts for clients to give to their friends and you can also use them as referral bonuses!
If you’re a personal trainer or life coach, your product line might include vitamins and supplements. While these can cost slightly more than lotions and oils for an upstart company to create, these supplements are hot sellers and can offer you an income stream from web sales if you are willing to do some marketing. Here’s an example of a company that specializes in private label vitamins and supplements: http://www.7dayhealth.com/index.html Here’s another company that not only creates supplements, it offers fulfillment services as well: http://www.vitalabs.com/Private-Label-Vitamins/ Look for companies that will assist you with FDA standard compliance when developing your wellness supplements and vitamins. It’s much easier and less expensive than hiring your own legal counsel!
Today it’s easier than ever to brand yourself as a wellness expert and offering an exclusive line of quality products to your clients and to other wellness professionals is a great way to not only boost your credibility but to create added income streams for your business. You can even hire commission-only sales reps to market your products while you are busy with your primary wellness business! All it takes is a little math to determine your best selling prices and profit margins and you’ll be well on your way to wellness success. Here’s a handy calculator to get you started on your pricing strategy: http://www.dinkytown.net/java/ProfitMargin.html