Starting my own Supp. Company

nextteenamateur · 12-26-2005, 05:17 PM

I was thinking of business opportunities, and I decided to see if I could start my own supp. company. I would do a private-label type deal, where I buy the product wholesale in bulk from a manufacturer, and do the labeling myself (can pay to have it done - have to check price). I was thinking of starting off with basics such as creatine, maybe a NO product, and perhaps whe protein. I have done some research and talked to local businesses, and I would be able to sell at a local health food store, my gym, and my school. I was wondering if anybody has ever tried this out before, and how it went for them.

**skelooth** · 12-26-2005, 06:46 PM

your SCHOOL would buy it???

Being a supplement label could be risky. As with all business, and ESPECIALLY being a supplement label, MAKE SURE YOU HAVE ACCESS TO A LAWYER, you might even want to buy legal insurance. If anyone takes your products and has something bad happen, they are sueing YOU, not the wholesale provider.

You will also have no access to any type of QA for your products.

**A.FreeRadical** · 12-26-2005, 07:20 PM

I have been in business since 1972 and have owned several businesses from 1976-2005. All of these were involved in manufacturing.

Liability issue:
Form a (limited liability) corporation and get product liability insurance. (Keep in mind that this is just a bridge to cover your corporation. The manufacturer will ultimately be responsible for his screwups.

Quality Control:
You would have to work with your manufacturers to insure that they each have a viable quality control program. Then you can establish your own standards along the lines of your manufacturers. This would include some form of auditing proceedure for you to ensure that the qc program is being followed.

No offense, but this seems like a major undertaking (including; Sales, Finance, Marketing and Distribution.) for someone who is barely of legal age (in some states) with little business experience. Why not become an area distributor or salesman for a few products and see how well you do at selling someone else's products. If you are successful at that, you could add a product of your own and go from there. If you then decided that you wanted to take on your own brand name, you would be in a better postition to ask customers to switch to your products.

I don't know you and I am not trying to put you down. What I am suggesting would be a good way for anyone to ease into a new enterprise to test the waters before taking on major obligations.

*

nextteenamateur · 12-26-2005, 08:12 PM

That's why I was going to start out VERY small. I was going to put in an order of around 50 bottles of the product I chose to sell (most likely a creatine) and have the label done by the company (I found a place that will do it for a good deal). Basically, they have the plant and pretty much do everything. The final product gets shipped to me and it's on me to sell it. I am going to think it over some more, get my estimates back, and then decide.

Twin Peak · 01-07-2006, 02:12 PM

Not an easy undertaking; good luck.

Skigazzi · 01-07-2006, 08:42 PM

Its an added cost, but Incorporate, your money will be safe, your assets will be safe, but it adds a complexity to the business you might not yet be ready for (I dont mean that as a knock against you, just realistic thinking

)

Im surprised you can get 50 bottles? are they 50 bottles ready to sell, or ready to be repackaged?

My advice, study up on starting a small biz, if you choose to continue, trademark your business name and register the website in the same name, pick 2 products, come up with names that dont suck :fingersxd for them, set up a paypal / credit card account, find a place to store 500 bottles, start grass roots marketing, pimp your stuff on boards that you can, and pray you break even in the first 3 years. :fingersxd

I want to do it, but dont have the time at this point to do it right.

SoMdHunter · 01-08-2006, 01:22 AM

Quote:

Originally Posted by A.FreeRadical

I have been in business since 1972 and have owned several businesses from 1976-2005. All of these were involved in manufacturing.

Liability issue:
Form a (limited liability) corporation and get product liability insurance. (Keep in mind that this is just a bridge to cover your corporation. The manufacturer will ultimately be responsible for his screwups.

Quality Control:
You would have to work with your manufacturers to insure that they each have a viable quality control program. Then you can establish your own standards along the lines of your manufacturers. This would include some form of auditing proceedure for you to ensure that the qc program is being followed.

No offense, but this seems like a major undertaking (including; Sales, Finance, Marketing and Distribution.) for someone who is barely of legal age (in some states) with little business experience. Why not become an area distributor or salesman for a few products and see how well you do at selling someone else's products. If you are successful at that, you could add a product of your own and go from there. If you then decided that you wanted to take on your own brand name, you would be in a better postition to ask customers to switch to your products.

I don't know you and I am not trying to put you down. What I am suggesting would be a good way for anyone to ease into a new enterprise to test the waters before taking on major obligations.

*

I fully agree with Rad! I'm not sure how many gyms are in your area, the more the better. Reason being: That is where I would start out trying to sell my product....especially if it isn't a franchised gym.
There are a thousand other items to think about as well. You will need someone to take care of all the accouting (debits and credits), tax deductions/write-offs, income tax and operating expenses come to my mind.

Like Rad, I'm not trying to discourage you, but starting a business takes a tremendous amount of hard work and energy. Even then you are more likely to fail then not.

But good luck and keep us posted whatever you decide.

12-26-2005, 05:17 PM	#1
nextteenamateur Pro Stature Join Date: Dec 2005 Location: Clemson, SC Posts: 336 Recipes: 0 Rep Power: 6	Starting my own Supp. Company I was thinking of business opportunities, and I decided to see if I could start my own supp. company. I would do a private-label type deal, where I buy the product wholesale in bulk from a manufacturer, and do the labeling myself (can pay to have it done - have to check price). I was thinking of starting off with basics such as creatine, maybe a NO product, and perhaps whe protein. I have done some research and talked to local businesses, and I would be able to sell at a local health food store, my gym, and my school. I was wondering if anybody has ever tried this out before, and how it went for them. __________________ My X-Factor bulk log: http://www.ironmass.com/forums/showt...d=1#post106271 My LipidFX log: http://ironmass.com/forums/showthrea...6900#post96900 ********* Discount Code for 5% Off: SPB296** RAW TESTED LIFTS: Dead - 455 Squat - 405 Bench - 230 (getting up there) Going for an 1100 pound total and beyond

12-26-2005, 06:46 PM	#2
skelooth eh heh heh Join Date: Aug 2005 Location: Behind you Posts: 7,205 Recipes: 0 Rep Power: 158	your SCHOOL would buy it??? Being a supplement label could be risky. As with all business, and ESPECIALLY being a supplement label, MAKE SURE YOU HAVE ACCESS TO A LAWYER, you might even want to buy legal insurance. If anyone takes your products and has something bad happen, they are sueing YOU, not the wholesale provider. You will also have no access to any type of QA for your products. __________________ R I P

12-26-2005, 07:20 PM	#3
A.FreeRadical the Epicurean Bodybuilder Join Date: Aug 2005 Posts: 2,245 Recipes: 0 Rep Power: 58	I have been in business since 1972 and have owned several businesses from 1976-2005. All of these were involved in manufacturing. Liability issue: Form a (limited liability) corporation and get product liability insurance. (Keep in mind that this is just a bridge to cover your corporation. The manufacturer will ultimately be responsible for his screwups. Quality Control: You would have to work with your manufacturers to insure that they each have a viable quality control program. Then you can establish your own standards along the lines of your manufacturers. This would include some form of auditing proceedure for you to ensure that the qc program is being followed. No offense, but this seems like a major undertaking (including; Sales, Finance, Marketing and Distribution.) for someone who is barely of legal age (in some states) with little business experience. Why not become an area distributor or salesman for a few products and see how well you do at selling someone else's products. If you are successful at that, you could add a product of your own and go from there. If you then decided that you wanted to take on your own brand name, you would be in a better postition to ask customers to switch to your products. I don't know you and I am not trying to put you down. What I am suggesting would be a good way for anyone to ease into a new enterprise to test the waters before taking on major obligations. * __________________ "Is it going to be the red pill or the blue pill, Neo? The red pill will answer the question 'What is the Matrix?' Choose carefully. Remember, all I'm offering is the truth. Nothing more." Ron Paul for President, 2008 A.FreeRadical ...the Epicurean bodybuilder Height: 5'9", Age: 62, My last high on 2/1/2006 was 196 lbs. My last low on 8/08/2006 was 167.5 lbs. Cutting until I am lean Starting weight: 190 lbs. bodyfat: 19.7% November 27th: 183 lbs. bodyfat: 18.3% bodyfat Goal Weight: 176 lbs with no more than 10% bodyfat My recipe collection

12-26-2005, 08:12 PM	#4
nextteenamateur Pro Stature Join Date: Dec 2005 Location: Clemson, SC Posts: 336 Recipes: 0 Rep Power: 6	That's why I was going to start out VERY small. I was going to put in an order of around 50 bottles of the product I chose to sell (most likely a creatine) and have the label done by the company (I found a place that will do it for a good deal). Basically, they have the plant and pretty much do everything. The final product gets shipped to me and it's on me to sell it. I am going to think it over some more, get my estimates back, and then decide. __________________ My X-Factor bulk log: http://www.ironmass.com/forums/showt...d=1#post106271 My LipidFX log: http://ironmass.com/forums/showthrea...6900#post96900 ********* Discount Code for 5% Off: SPB296** RAW TESTED LIFTS: Dead - 455 Squat - 405 Bench - 230 (getting up there) Going for an 1100 pound total and beyond

01-07-2006, 02:12 PM	#5
Twin Peak New Member Join Date: Aug 2005 Posts: 0 Recipes: 0 Rep Power: 0	Not an easy undertaking; good luck. __________________ Designer Supplements True Innovation™

01-07-2006, 08:42 PM	#6
Skigazzi New Member Join Date: Dec 2005 Posts: 17 Recipes: 0 Rep Power: 0	Its an added cost, but Incorporate, your money will be safe, your assets will be safe, but it adds a complexity to the business you might not yet be ready for (I dont mean that as a knock against you, just realistic thinking ) Im surprised you can get 50 bottles? are they 50 bottles ready to sell, or ready to be repackaged? My advice, study up on starting a small biz, if you choose to continue, trademark your business name and register the website in the same name, pick 2 products, come up with names that dont suck :fingersxd for them, set up a paypal / credit card account, find a place to store 500 bottles, start grass roots marketing, pimp your stuff on boards that you can, and pray you break even in the first 3 years. :fingersxd I want to do it, but dont have the time at this point to do it right. __________________ Thermolife Super-rep

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode