One of the incredible things about the internet is that it creates possibilities for building businesses that were never available in the past. One example is Private Label Products. A Private Label Product is essentially a product that is not created by a company that specializes in one type of product, but rather by a person or company that sees an opportunity to create a more affordable product to compete with brand names.
Private Label Products may be best understood through an example. Say you decide to buy a pair of flip-flops. You go to a store nearby and are astonished to find that the name brand sandals cost considerably more than you want to pay. So you go online to try and find some cheaper options, but the reviews for everything you find are poor because the product is low quality. At this point, you may realize that there might be a market for a better alternative. Maybe people just need sandals for the gym shower, or they only wear them a few times a year, or they are prone to losing them, or they simply don’t care about brand names, but they don’t want a completely inferior product. It might be time to produce Private Label sandals.
The first thing you would do is research the market to confirm your suspicion. The best case scenario for a successful Private Label Product is a simple item that sells in high volume and currently is receiving poor reviews. If you can check all of those boxes, the next step would be to decide how you are going to sell your product.
I am going to pause for a moment to talk about one of the ways the internet makes Private Label Products such an attractive option: Fulfilled By Amazon. The idea behind FBA is simple—you get your products “e-commerce ready” and you ship them to an Amazon warehouse. The product is listed on the amazon site, and Amazon pretty much handles the rest. This seriously lowers some of the logistical barriers to bringing a product to market, and it makes it much easier to reach a wider audience. And, you can focus exclusively on designing, producing, and marketing your product.
Once you have decided to produce a Private Label Product, researched the market for your product, and decided how you will distribute, you have arrived in our wheelhouse. The next thing you need to do is to source your product—which happens to be one of our specialties. You can read through our blog to get an idea of how to start, and feel free to contact us for help taking care of the production end. We offer a comprehensive host of services to help you make sure your product gets made right, from locating a manufacturer through to the final inspection. Between Insight Quality Services and FBA, you can focus on your product. Let us know when you’re ready to take the first step in building a brand!