How to Start a Fragrance Business
Fragrance and Perfume business involves products like soap, perfumes, lotions, room fresheners and candles. It is estimated that in the US, the fragrance business is a $23-30 billion dollar industry. With proper planning, determination and focus, you will be well on your way to being a part of the 30 billion dollar industry.
It may interest you to know also that this business is environmentally friendly. It doesn’t require heavy industrial processing and utilizes natural resources.
Starting The Business
- Start with a particular product
Don’t try to produce many products at the beginning. That may distract you, and the main aim of starting the business might be defeated. Instead, focus on one product in different varieties. It could be perfume, room freshener, soap and candles, or you can have one product with different fragrance. For instance, you could decide to have a perfume in same container but different fragrance.
- Determine your customers
Everyone loves to look and smell good, but people are different so also their love for fragrance varies. Determine who your customers will be and device a means that will attract them. One way to attract customers is to find a product ambassador, a celebrity, a politician or any popular figure to endorse the fragrance.
- Write a good business plan
This is writing everything about the business. The business plan should contain the product definition, aim of the business, required capital, business location, business strategy, sales and distribution and expected profit. This business plan is one document that can be used to raise capital for the business if need be.
- Register the Business
Find a business name that is easy to remember and describes your business and register the name. There is no need to rush, take time to find a name that is catchy and appealing. Business name registration enables your customers to identify your business and the product. Obtain appropriate licenses and permits that pertain starting this type of business in your area.
- Decide your market
Where you sell your product will actually determine the pricing and mode of packaging. Natural fragrance could be sold in farmers market, art and shows. Other forms can be sold in a drug and big box stores where packaging and pricing matters. You can decide to setup an online store and sell your products on the internet. Whether natural or not just make your pricing and packaging appealing.
- Design an appealing package
Hire a professional designer to design an appealing packaging for the product. Packaging must be good and attractive.
- Locate your Suppliers and Start Production
You’ll need to identify the suppliers of raw materials for the production of your fragrance. Take time to select quality raw materials like the bottles and the ingredients for making the fragrance. Consider buying materials that will ensure your fragrances has long shelf life to keep the scent longer. Next is to start production and packaging
- Market your fragrance
Get started by marketing your fragrance by advertising online and through other media. In addition to the marketing strategies you plan to adopt in your business plan, you can equally distribute your products through a network, Create flyers and billboards to build more market awareness of the product.