Selling on Amazon is perhaps the easiest way to add a revenue stream to your already growing business. Wouldn’t you love to harness the money-making power that online selling could bring you?
If you’ve made that decision to continue growing your business through selling online or on Amazon, then you have a few further choices to make. Many attempt retail or wholesale arbitrage to get their online business started, but we have a better idea.
Private labeling will get your brand the recognition it needs to make money. It’s all about your brand. Instead of building someone else’s brand, you can sell products with your private label on them. Not sure how that works? Let’s take a look.
Let’s say you have a coaching business. Maybe you run a successful YouTube channel as a chef, or you have a life coaching website with thousands of daily views. Wouldn’t you like to build upon your current brand while providing products your customers will definitely use?
Finding those products doesn’t have to be hard. You can join us in China at the Canton Fair to make sure you introduce products that aren’t even on the market yet! What better way to boost your business than to create and sell the next big thing?
Once your special product takes off, thanks to the magic of the internet, selling it can be a breeze. The hardest part is taking that first step and getting the right product out there. What you need is someone to coach you through it. You need a partner who will be honest with you about how to avoid mistakes. (The best time to make them is before you get started.)
With someone like that in your corner, you will have the benefit of knowing the system without going through it blindly. You will find out the online business basics:
Where to Sell
If you’re starting an online product business, there are the obvious markets you want to hit, like Amazon. But don’t forget about the easily overlooked places, like your own website with your own domain. (Which is probably the first place people will look!)
What to Sell
You may think you have that one magic product, but what about variations? Imagine you have developed a beauty product that evens skin tone. You probably aren’t going to sell just one shade of color for that product. You are going to want to go with many shades to meet the needs of all kinds of women. If you consider a product line, you can quickly gauge what the public likes and doesn’t like and find the perfect collection for your private label. Only sell what customers are buying.
When to Sell
In order to know the best time to put your product out there, you need to do a little more research. Are you ready now, or does your product need some fine-tuning? Even if you are excited to get your product out immediately, you don’t want to sell something that is less than the best it could be. Wait until you have worked out all the kinks before you actually put it out for sale.
If your product is seasonal, (or even if it isn’t!) what is the peak time to introduce it? Think about Christmas lights, for example. Although you normally don’t see them sold in the summer, it’s only shortly thereafter that they appear on shelves.
If you’re a gardening expert selling specialized flowerpots or branded gardening tools, you wouldn’t launch your online product business at the height of spring. Instead, you’ll want to start selling your private label brand before winter takes its last breath.
The same is true for your summer fun products. Selling camping gear, your own sunblock formula, some new thirsty beach towels, or top-of-the-line grill equipment? July is too late to enter the market. You want to start selling when people first start dreaming of warm weather. Don’t be afraid to research other similar products to determine when the best time to launch your product is.
If you’re waiting for an answer to “Why to Sell,” you hopefully already know—to add income. So what’s holding you back from getting your idea on the market? We’re here to help you get started. Give us a call at Private Label University, and we will walk you through the rest of the money-making process.