There are many reasons why people are ecstatic about creating their own product line of olive oil.
One reason is its growing market. As people become more aware of the benefits brought by it, the demand is steadily increasing. The fact that you can find olive oil as an ingredient in almost any healthy product, any entrepreneur would really be tempted to join the industry.
Another reason is passion. Health gurus and beauty bloggers are just a few of the people who love olive oil, and incorporating their passion into their business is never a bad idea, right?
So before you start choosing and calling your private label olive oil supplier, here are the top three most important things you should do first:
Study the Market
Regardless if you already own a business or are just starting up, you should study first your target marketplace.
Who would possibly buy it? Can your market afford to purchase extra virgin olive oil? The best customers are those who won’t mind paying a high price as long as the product is worth it. But this is not the only factor you should consider.
Knowing the current prices on the market will serve as your guideline in choosing the right supplier in terms of the pricing of bulk orders.
You can also determine how much profit you can gain, and how competitive you can be in the market. More importantly, since you are creating a privately labeled line, make sure that your price can compete with the branded ones.
Qualify the Suppliers
Truth is, the olive oil industry is quite a small niche, so you will want your product to stand out.
Basically, you can really stand out if you choose the right packaging. Packaging includes the style of the bottle, how much of it you want in a single bottle, and also, the creativeness of the whole packaging concept.
But the question is, can the manufacturer achieve this kind of packaging?
There are a lot of suppliers, but if you think that you can just pick the right one up easily, think again. The right supplier should, above all, catch up on your vision for your products.
For example, the best private label olive oil supplier are those who have sample packages ready but also welcomes their clients’ ideas and desired characteristics. There are even companies that will send a virtual sample for their clients to see how their order will look like. This kind of flexibility gives ultimate freedom for the clients to own their product.
Everybody loves the idea of venturing into the business world, and olive oil is a great product because it is sellable, marketable, and is hot in the market.
However, the roadmap to any venture is not that easy. No matter the how high the hype is, it will still take a lot of research, study, budget planning, and most importantly, the right partner.