Hi again, Katie & Rob here. We’re still struggling to find the perfect business to move into but we think we turned a corner a few days ago. Private labelling seems as if it could be a very worthwhile venture for us.
The problem is until recently we couldn’t figure out which niche to get into. We pondered over the idea of going for something within the home and kitchen niche (see our first post below) but came to the conclusion that the potential profits aren’t as big as they could be in other niches. The market also seemed slightly saturated.
We were about to give up until we noticed the huge amount of items within the niches of beauty and health that look as if they can be sourced for a relatively cheap price, then sold for a significantly higher amount. The more we looked the more we became drawn to essential oils.
I don’t know why but they really seem to be some of the fastest selling products online at the moment. Maybe it’s because most of them have multiple purposes and uses. For instance you can apply them to your skin, spray them on you as a fragrance or even use them as a quasi-cleaning product. However, part of me thinks its all down to the fact that they’re supposed to have many health benefits.
We think we’re just about the stage now where we’re fairly certain this is what we want to do, so now we’re beginning to look into different essential oils that are sold in an attempt to find the perfect one for us to start with. It didn’t take me long until I found these things called oil diffusers that are used to spray oils around your house every so often. They’re fairly simple to work, all you have to do is plug them into a power socket and adjust the settings which determine how often the diffuser releases the oil you have selected.
The question now is how do we go about sourcing a product just like this. Do we want to private label, or should we try and create a brand new diffuser ourselves and have a third party package and label it for us? These are all the things I guess we’re going to have to get our heads around in the near future.
In the meantime I’m just thinking about how great our product will be once its ready. I will no doubt use them myself in various rooms around the house as I love the natural fragrance of essential oils.
The point of this blog is to help us map out our thoughts and eventually come to a decision on what kind of business we’d like to move into. We were talking, and decided we want to ask you for your contributions too. Are there any business models that you’ve seen recently and were blown away by? If so, please let us know.
Hello! It’s Katie here and we’ve been hard at work planning out different business plans that we could potentially pursue. One we’ve been looking at for a long time now is private labelling. To those that don’t know what this is, it’s when you get in contact with a manufacturer of a certain product (they can be from anywhere around the world, for instance, many in the far east will offer you better rates) and agree to purchase a set amount of one single product from them, which they will then ship to you. What happens next, is you have to put your own private label, or business logo on the products to make them look like your own. This can be down once they arrive and are in your hands, or occasionally many of the manufacturers will be able to do this for you.
Once this is done, the next step is to build a website and begin promoting your products online. There have been many people that have started hugely successful businesses doing this, which gives us a great deal of hope. At this stage you have a choice of shipping the products yourself, and keeping the stock at your own property or warehouse, or hiring some third party to keep and ship the stock for you.
We’ve done a lot of research into this model and really think it’s something that might be worth pursuing. What do you guys think? Do you have any idea of how difficult it be compared to other ways of making money online? After talking, we decided that if we were to pursue this model we would attempt to start our own home and kitchen brand, mainly because there are so many private labelling opportunities within that niche. Just look at all of these for instance. You can sell cookware, tableware, kitchen appliances, the list goes on. All of these items can be purchased fairly cheaply too from manufacturers. To be honest, there’s only a handful of items within this niche that you won’t be able to private label. Items that harness special technology, and are electrically powered such as a digital meat thermometer might be fairly difficult to source but still might be possible.
Please tell us what you think about our original ideas.
Hey there! The two of us are trying our best to chase our dreams and are in the process of starting a business online. I wanted to put this website up so we could review different models and try our best to figure out which business plan we want to go for. This isn’t really intended for the public but if you’ve stumbled across this site then feel free to have a look around.