How to start an organic skincare business in Nigeria
Organic skincare products are one of the money-fetching products in Nigeria. That is why in this article, we will be considering how to start an organic skincare business in Nigeria and how you can register your skincare business in Nigeria.
Organic skincare products are beauty and health products that help to revitalize the skin, and to also retain its youthful glow. These products have proven to be more efficient in comparison to the products made from inorganic substances. Over the years, the rate at which skincare issues like acne, pimples, and so on, have been cleared with these organic products has pushed the business to the frontiers.
What to know before starting a skincare business
Before starting any business at all, it is very necessary for the potential entrepreneur or sole-proprietor to be well acquainted with a few starting factors;
Understanding the various risks and losses that could occur as a result of the business
Businesses that are based on organic skincare products usually fetch a whole lot of money. However, the risks and losses that are inherent to such business cannot be permanently ruled out. The first step to take is to ascertain if your business would be able to cover for its losses by itself.
The risks some businesses face usually extend to the owner, and at the end of the day, may cause ugly issues like bankruptcy. To solve that, make sure to define the financial brackets of any business you are involved in. Other risks that could occur include fire outbreaks, and other things that insurance could always cover. The bigger the business you plan on establishing is, the more risks you have to cater for.
Fleshing out ideas
A business must always be planned out. It would be wrong for you to just delve into it without any proper strategies—marketing strategies, technical strategies, production strategies, and so on. All of these fore-planning will ensure that the business runs smoothly when it is launched. For example, you could plan to make your product stand out by seeing to it that it solves certain skin issues that have proven stubborn over the years.
Your ideas become more realistic and practical when you have a team that is thinking along with you. Another thing that you need to note is that organic products are usually marked by a high percentage of naturalness. So, you want to ensure that you are not fusing in harmful ingredients or chemicals into your products. When you flesh out your ideas, you give your customers a chance to trust the service you are rendering. You also would be able to answer questions like these;
– Where the raw materials would be sourced from
– Whether or not an extra processing would be required
– Cost of production, etc.
Mapping out of the milestones that should be achieved via the business
Milestones are records of the different achievements of an entrepreneur as he proceeds with business. It is very important as a business owner to ensure that you map out the miles you want to go with your business. For example, you could start with a target of fifty customers and a profit of a million per year. Once you achieve that, set a greater milestone and push yourself to the task. This technique always helps to keep the business in shape.
Determination of target customers
There are several skincare products out there; and a number work for men, while another number of them work for women. If you are going to be producing products strictly for men, you want to ensure that you map out the age groups that need the products.
For example, if you are into the production of a cream that encourages the growth of beard, you might want to target those above the age of fifty. Now, this proves to be very useful when determining the kind of market that the products would be channeled to.
Know how to formulate organic products
This requirement is very crucial as people would only patronize someone who knows every detail as possible as regards skin care. You want to acquaint yourself with all the ingredients involved in the formulation, their side effects, uses, and several other details. You also want to know if the product can be used both for the skin and the hair, i.e., general purpose products.
Also, in a situation where you plan on obtaining the ingredients for your formulation from plants, you want to be sure of their shelf-life, i.e., the amount of time they can maintain their actual uses for. Having knowledge of that would help you to ensure that the products are safe and subject to stability.
Set up a striking story for your brand
Most of the brands for skincare out there have stories about the founder that make the customers more assured of their products. It could be a personal story of how you once dealt with issues like acne, and then, got pushed to create products that could clear it.
Plan out a strategy for marketing your products
There are a million and one different skincare products out there in the market. You want to always ensure that yours stands out of the competition. The best way to get this done is by coming up with terrific plans that link you up with your clients. You could also try to employ some strategist that could help in deploying techniques that are market-favorable.
After catering to the factors above, you want to move on to the next stage of planning. This is where you delve into issues like registration of the business, getting a team of skin care specialists, etc.
How do I register my skin care business in Nigeria?
Earlier, we discussed that registration of your skincare business is one of the critical points you must consider when you want to start your organic skincare business in Nigeria. That is why we would be answering the question of how you can register your skincare business in Nigeria. Simply follow the steps below to get started;
– All you need to do is get your business registered with NAFDAC (National Agency for Food Drug Administration Control. Cosmetics and skin care products are regarded as fine chemicals, which are also classified as drugs. The following documents would be required of you;
– Proof that your business is registered.
– Agreement with the manufacturer of the products (needed in a case where your company isn’t the one directly producing the products.)
– Proof that your trademark is registered
– Sample of your product’s tag or label.
– Certificate of Analysis of your Product (issued by the laboratory that analyzes the product. It must contain important details like the product’s expiry date, manufacturing date, brand name of the product, batch number of the product, as well as the signature of the person that analyses the product.
Once the above documents are approved by NAFDAC, your business consequently gets registered.