21 ESSENTIAL QUESTIONS ANSWERED [1-7]
I’m In Your Head And I know What You’re Going To Ask – So Keep It Clean.
I have been right where you are today!
Before I started my brand I had a million and one questions, but being like a dog with blood lust I spent days, months and sleepless nights working it all out.
Eventually over time I won Men’s Health Awards and turned 7 figures in less than 3 years…but it took time and a bucket load of stress.
Luckily you don’t have to stress, worry about time or have to research the questions that you’re going to ask eventually; I’ve laid them out in this post.
This is for anyone that have been THINKING about starting a supplement brand, but think it’s a big task and costs a tonne of cash.
I’m going to tell you today IT’s NOT!
So sit back power through the questions, suck up the BONUS material and the START your idea immediately…
1. What’s the least amount of money I’ll need to start?
The absolute least you need to start a brand is around $500…. [BUT my advice is get the brand foundations right otherwise you’ll burn cash with a poor idea]
There are plenty of manufactures that allow you to take their products and wrap your own label around them.
That $500 will also include basic ecommerce, email marketing software and plenty of other gadgets.
Yes pretty low entry point, right?
2. Is it a good ideas to start small?
Depends on your cash flow….
But if you’re dipping your toe in whilst staying in a 9-5 or adding this to your current biz start small.
If you go big too soon you will not have enough time in the day to get anything done and you’ll burn out.
Supplement brands can grow fast, so you have to act fast.
And with fast growth comes fast profit…
3. How many products should I start with?
You will be tempted to start with at least 3.
How do I know, because everyone tries to do it.
Look at Grenade, Monster and Redbull – they all started with ONE core product and then added as they got an audience.
That’s called brand building.
When I launched my Men’s Health Award Winning brand we had 12 products – It was a monster juggle.
I DO NOT suggest you do that!
4. Do I try and get into shops?
Shops will screw you on profit….Simple!
At the end of the day they need to make a profit.
Retail stores are great when you’re a biggish name and your cost price is low because they enhance brand awareness.
However; I know someone personally who got into Tesco and year later they went bust based on Tesco killing them with orders and margin. But when you’re starting out you want to make as much profit as possible
5. Do I need a brand name?
Branding is essential to make you and your product stand out.
When picking a brand name it doesn’t have to be relevant to your niche.
Example: Google – what does that mean?
Actually I know, do you?
However; The visual presence of your brand does – I can help you create a cool brand
6. Do I need to protect my name?
FACT – its going to cost you around $250 to get a single Trade Mark [UK]
I would encourage you to do your research and then protect your brand name or product name.
Last thing you want Is to turn over $100k the first year to get slapped down by a large brand.
I made that mistake…..
Luckily I could change the name and use it as a marketing tactic.
7. How much can I really make in the first year?
If you go balls deep $100k plus is achievable with the right brand foundations, guidance, message and marketing.
There are many ways to skin a cat.
As an example I managed a 7 figure turnover in just over 3 years with ZERO knowledge prior to launch.
‘You get OUT what you put IN’
And I’m not talking about cash.
To be continued…..