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On a weekly basis, this is the number one question we get asked.
Before you get your hopes up, you should know… there’s no definitive “right” way to source products. But with over 35 years of experience private labeling products, we can definitely give you a few tips!
First step: pick your category/niche.
This step typically revolves around finances, passion, or experience… or all three!
Let’s start with finances. If you have some savings set aside, you’ll have a bit more freedom when it comes to choosing products. If you’re still working to gather enough capital to invest in inventory, don’t worry! You’ll just want to make sure you pick a product to private label that will make your valuable investment worth it. Even if your first product isn’t an overnight success, all is not lost. You’ll learn a lot in the process and in most cases you can at least get your investment back. Read on.
Another obvious way to pick a niche is to follow your passion. You’ll already know what the product is supposed to do, and you’ll be able to communicate your passion in an authentic way. Choose a product you can talk about, improve, and be passionate about selling. In our experience, passion is contagious and always drives more sales!
The final way we suggest picking a niche is to focus on what you have experience with, maybe something you’ve interacted with regularly at some point in your career. Maybe you are a mechanic, or once were a plumber, or have worked in the tech industry, or are a parent to young kids and are constantly thinking of things that would make your life easier… no matter what you choose, having industry experience is a huge asset when customers ask you questions.
Once you have found your niche, category or general product idea, you will be ready to find your first private label product.
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Second step: research specific product ideas.
There are dozens of ways to do this, some of them more effective than others.
You can spend countless hours researching on Amazon, Ebay, Shopify, and other selling platforms. You can visit local trade shows, shopping malls, and discount stores. You can even scour Alibaba, Ali Express, and other global sourcing sites. There are even research tools like Jungle Scout and CashCowPRO that help streamline product research.
Our personal favorite is to visit trade shows. No other option allows you to meet the supplier, see, hold, and test the products, and negotiate details like pricing, shipping, and more. On top of all of that, trade shows are an inspiring experience for those of us in the physical product industry!
There are hundreds of trade shows around the world every year. To find them, simply Google an exhibition center near you, then browse their upcoming events. You might need to provide a business card and contact details, but going to a show with a professional image gives suppliers a great impression of you.
Our favorite trade show takes place in Guangzhou, China every spring and fall. The Canton Fair is the world’s largest trade show, with 57,000—60,0000 booths and over 200,000 buyers that attend each session (spring and fall). It’s been around since 1957 and we’ve attended it every year since 1986. We first started taking groups of people in the 90s, and our next trip is in April 2017.
The fair continues to grow in size and influence, and a visit to Guangzhou is a once-in-a-lifetime way to find exciting new products, hold, test and analyze products before placing an order, develop life-long relationships with suppliers, assess the realm of opportunities that exist in importing from China, build your network and deepen your resources, and learn the in’s and out’s of shipping and customs. It’s also a thrilling cultural experience!
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Third step: build a customer following.
Once you have selected the category for your first private label product (even if you haven’t selected the product yet), start thinking about how you will enlarge your offerings with similar products that fit into your niche. For example, if your first product is a yoga mat and your social media accounts cover fitness, it doesn’t make a lot of sense if your next product is a vacuum cleaner. Build a loyal customer following with consistency in your product line!
If you don’t have a social media presence, work on building one as soon as you’ve selected a niche/category. If done correctly, social media can be a huge tool in boosting your organic sales!
After you’ve completed Steps 1 through 3, you’ll be ready to find a supplier/manufacturer and place your first order!
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