As people continue to search for natural health solutions, dietary supplements have become a popular and profitable consumer good. The industry is projected to surpass $85 billion in ecommerce sales by 2022. This makes it a prime opportunity for entrepreneurs to make money by selling supplements online.
The business is not without its challenges, however. Supplements must be manufactured and sold in adherence to strict regulations and safety standards. The FDA monitors labeling, ingredients, advertising & marketing claims, and everything else to ensure that the product is safe before it hits shelves. Additionally, it is important to stay up to date on current supplement crazes and trends, and avoid selling products that may have already been banned or are known to be unsafe.
In the crowded landscape of online ecommerce, it is vital to create a stand-out brand and differentiate yourself from the competition. One way to do this is by building a community of loyal fans around your brand and encouraging them to share their experiences with it. Another is by leveraging social media stars and influencers to drive traffic and sales. This strategy can be very effective, but it is important to do your research before partnering with an influencer or celebrity. Some companies have experienced negative feedback and lost revenue as a result of collaborating with a high-profile social media star.
Getting started with an online supplement store is fairly easy, and start-up costs are minimal if you plan to run your business as a small operation. Typical expenses include the cost of products, packaging supplies, credit card processing fees and web hosting costs. Additionally, you will need to invest in a computer and software to manage your inventory and track sales.
While there are many online portals that allow you to sell your supplements, Amazon is by far the most popular and well-established marketplace for this type of product. Its reputation for being able to sell almost anything makes it an ideal platform for supplements, as it has a global reach and consumers trust the site.
If you are new to the supplement market, a contract manufacturer can help you get your products on the shelf quickly and easily. These companies offer a wide variety of services including research and development, legal considerations, branding, packaging design, and more. Additionally, their rates are very competitive and you can start seeing profits very quickly.
To get started selling supplements on Amazon, you will need to complete a wholesale purchase and provide Amazon with three things: a list of all the supplements you’re planning to sell (including the lot number), an invoice from your supplier, and a copy of your certification of compliance as a seller of dietary supplements. Once the documents are verified, you’ll be ungated and can begin listing your products in this category. Depending on the cost of your products, this process can take a few weeks to a few months. However, if you do it correctly, you can make significant amounts of money from the sales of your dietary supplements on Amazon.