Our income iswhat drives us through our lives. It pays for the roof over our heads, the food on our table, the clothes for our families, and the more you have, the more comfortable your life will be. So naturally most people are looking for ways to increase their income. What if you could add an additional revenue stream?
This is where private labeling comes in.
Exploit Your Niche
Whether you’re that restaurateur looking to supplement your existing profit or an at home mom hoping to cash in on your new line of pet toys, both can be achieved through private labeling. Do you have a passion inside you? We all do. Imagine if you could translate that passion into a new business. Let’s consider some examples.
Stephanie is a chef and owns a catering business. She introduces a new line of cutlery with her brand name on it and created additional revenue. Sam, a lifestyle coach, launched organizational products and stress-management tools and created a business that was making money 24/7. What are your passions and loves? Those burning ideas could become a product and generate and additional revenue stream all day long.
Take some time to explore business ideas around your passion, and product ideas will start flowing in.
Find Your Suppliers
Whether you’ve developed your own products and need to find a manufacturer or you want to locate products already in production to put your private label on, we can help. You can source online, but you will be up against many challenges, including higher product prices, smaller selection and customization options, and lower profit margin. Many first-time private labelers will pursue this method while learning the ropes, and some may even find success. For greater success, you may want to consider going straight to the source.
Every spring, we take a group to China to the Canton Fair, where you can meet suppliers and manufacturers with an enormous variety of goods that you can private label. The Canton Fair is a key piece to your private labeling success, but you shouldn’t attempt the fair on your own or with a guide that doesn’t’ have decades of experience.
For the investment you’re about to make in your additional revenue stream, you should have a translator by your side and a guide who understands Chinese business practices. This understanding can only come after several years of traveling to the fair—it’s not something that happens overnight.
We’ll help you locate the products you need to jump start your new revenue stream, while also providing that all-important assistance with Chinese business practice and translation. You won’t need to worry for a single moment while you’re in China with Private Label University.
Where to Sell
Thanks to the internet and modern technology, it’s a lot easier to find ways to get your products listed and sold. Instead of setting up a booth at the local craft or food fair, now you have Etsy, Amazon, and even Walmart as a possible platform for selling your products.
Amazon and Walmart are always competing to be the best when it comes to online retail. While Amazon lets almost anyone and any brand sell products on their site, Walmart is a bit more exclusive. Either way, they offer an online retail opportunity for selling a variety of products and services to a market audience that values in the billions.
You can also launch your own eCommerce website with your brand name and online store. While this takes some extra work, you can be sure you get all the brand recognition when you sell your products. It’s much easier to grow a brand when your customers know your name and not the Amazon search bar.
Expand Your Audience
The first step to increasing the visibility of your brand is to step up your social media presence. Did you know that 70% of buyers looked up a brand or business on Instagram before making a purchase? And that 62% will follow a brand they like? For the restaurateur planning to launch a new line of kitchen cutlery, post beautiful images of your delicious dishes. For the at-home entrepreneur with a love of pets and healthy living, post happy images of your pet and fun videos of animals playing with your top-of-the-line pet toys and snacks. The possibilities are endless!
When you increase the visibility of your brand through social media, you’re going to get people asking how they can eat your incredible entrees from across the globe. With such a massive spending audience, it only makes sense to use that visibility to now sell your very own private labeled products. Use social media to exploit your brand, your niche products, and then put all three to work creating an additional revenue stream.
We understand that the thought of stepping out of your comfort zone to expand your business and increase your revenue strand can be a bit daunting. We’ve been there, and now we’re here for you. Take advantage of our years of experience and let us help you get started on the path of prosperity in private labeling.