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One of the first critical choices facing the owner of a business start-up is which business of the many thousands to choose from should one actually pursue. There are many personal factors to consider, these I will not address here. In a larger sense about the direction and strength of the the market you are considering entering there are several key factors that can make the difference of whether you will thrive or not. These are the variables that I will will try to address here in relation to this, the natural personal care market.
The first consideration is the health and general growth prospects of ones chosen market. Here we have a very strong position of the natural bath and body market. This market has been growing faster the general economy for several decades now. We have seen many new players in this market, including the soap chain Lush. When you see older companies introducing new line and new entrants into a said market this is usually a good sign that you are not alone in receiving a strong trend in the potential growth of market.
A second factor to consider is what economists call barriers to entry of the potential market. In this industry the barriers are low. This is great for any new business venture. Capital costs are nominal and expertise can be gathered personally through low cost experimentation. The flip side to this is that almost anyone can join the market and ongoing competition and start-ups are never ending. There are many ways to address this competitive challenge but be aware that it is real and must be taken into most decisions of about the direction of your business.
If barriers to entry are low, how are the barriers to differentiation. These are low also and offer the best protection for any budding entreprenuer in the bath and body sector. With new creams, lotions, balms, soap and other specialty items being created daily, you can readily take a new formula and brand a new ingredient with concentrated focus on specific attributes of any given ingredient to your advantage. I saw a remarkable example of this a few years ago when a new business was developed around the little know and little promoted natural grape seed oil product line. This line was able to be picked up by a national retail chain and was the driving idea behind a very successful business. There are hundreds of natural oils and natural oil combinations yet to be marketed in the proper manner allowing for virtually endless business opportunities for anyone starting out today.
In any consumable product line there are many different price points for many of the same items. Perceived value of each item can be greatly influenced by the packaging of each item. Getting the look and feel right can help you position yourself in the marketplace to create maximum value and long term success. Margins created by the best packaging options will pay dividends that cannot be ignored. There are many places to get design done at very reasonable rates in today's market that were not available even a few years ago. Don't be afraid to keep tweaking your look until you feel it is at its absolute best. Every penny spent on design will pay for itself many times over. It also becomes almost free as you scale up your operation.
Finding partners in related marketplaces can be a great marketing tool that give your new business credibility and value that is sometimes hard to find in the beginning of you venture. You might find a local massage therapist that you can give free samples to in order to get feedback from and use their testimonial as social proof of the quality of your products. Any professional in this field (naturopaths, hairdressers, aromatherapists) can act as way to get credibility in your field. You may get interesting offers to make exclusive products for these professionals. You can use this knowledge to expand your expertise and product line to related items and related markets. Businesses selling spices and herbs usually like to carry a natural bath and body line. Patchouli and lavender come as botanicals as well as essential oils and can be great additions to your line.
Be sure to engage any local resources of professionals that you can find in your area. The most consistent trait I look for in securing any advise from a potential mentor is, have they started and sustained a small business themselves? If the answer is yea then chances are they can give you the advice necessary to help you get over the challenges that face every new business venture.
Many new support resources can now be found online. These resources can seem endless and confusing. Find someone who is successful in yours or a related field and try and engage the same resources. Many offer free trial runs before you commit financially. More expensive does not necessarily mean better. Stay away from custom solutions, even if they are inexpensive initially, work on them going forward will be quite costly.
There are many resources online to help you with your expertise about sodium hydroxide and saponification. The best resource though will always be your own efforts and experimentation. Use different ingredients, shea butter, coconut oil, olive oil, almond oil, palm oil and see what works best for you. Castile soap has long been a favorite among the organic crowd.