Share on Facebook Health food products and dietary supplements have become a multi-billion dollar business.
In order to develop a business plan for a vitamin and supplement, you need expertise within the food products or products industry and experience from a business planning or financial planning perspective.
Unlike a lot of food products, vitamins and supplements are more likely to experience a middle case scenario, whereas the target market of retailers includes a lot of independent vitamin and supplement shops as well as the major players such as GNC. If you want write a vitamin business plan or supplement business plan, be sure to answer the following questions in your plan: What is unique to your vitamin and supplements that will lead to their sale?
Do you need FDA approval for the sale of your product?
What is unique about your vitamin and supplement? What is the target consumer profile? What is the estimated size of the target market? What are the competing product in the market? What are your distribution strengths and contacts?
Where will you manufacture these vitamins and supplements? Capital West Advisors has specific experience with vitamins and supplements and can help you to develop a very high quality business plan and financial plan at the most competitive prices in the industry.
Contact us at for a free consultation.There are experts who will offer consulting services, and many supplement manufacturers have product development teams that can help business owners.
Many new business owners plan on creating a supplement and then marketing it, but this order is actually backward. Starting a supplement company is a rewarding experience. On top of having a good idea, you need to be able to market your product and distribute it. Health food products and dietary supplements have become a multi-billion dollar business.
At the core of each successful product is a skillfully implemented marketing plan that addresses the "Four P's" -- product, price, placement and promotion. Spur Sales.
When you initially introduce your health supplement product, your number one objective is to generate sales during the introductory period. Helping people stay healthy is an admirable goal, and combined with a good business plan it can be a profitable business venture.
Check out these sample business plans for health product related businesses, and get some ideas for your own business plan.
Obviously, getting your product on the sites and shelves of the leading supplement retailers is the only way to true success. Selling it by yourself on your own site or in your own store limits your revenue in a huge way.