The supplement industry is huge in Canada. In 2020 alone, the sales of vitamins, minerals, and other health supplements totaled approximately 759.7 million Canadian dollars. People use these products to lower the risk of health problems, while also providing essential substances needed for proper body function.
In Canada, many entrepreneurs are moving into this industry. The field can be a complex one to navigate, so it helps to follow the correct steps. Today we’ll provide a checklist for starting a supplement business.
Identify your target audience
Dig deeper into the demographics of Canadian customers to answer each of these questions. Let’s say you find that many of your customers seek out supplements through online distributors such as a Canada online pharmacy. Your potential customers want dietary supplements, along with other supplement items from online distributors. Maybe gear your Canadian supplement business to those Canadian customers who would rather purchase supplements online. This will save you on the costs of opening up a brick-and-mortar store.
Upon further research, you might find that your target audience might enjoy purchasing their supplements and prescriptions drugs at one website. This might cause you to open your business specifically for selling prescription medication. Once you receive the correct licensing and hire the services of a licensed pharmacist, you can combine your online pharmacy with your supplement distribution facilities. This can help you to grow your overall profits in the long run. Determining who your target audience is is an essential step for opening a Canadian supplement business.
Find a supplement manufacturer
To run a supplement business in Canada you’ll also need the correct manufacturers for these items. Look into linking up with such a provider. You’ll want to locate a supplement manufacturing that can provide you with in-house label design services in addition to warehousing, and fulfillment solutions. Make sure the services which this manufacturer provides are of the highest quality in the arenas of label design, and quick processing times of your supplement business-related orders.
Ensure that your supplement manufacturer provides laboratories that are set up for cGMP -mandated raw material testing, and label analysis. Also, make sure your end product which the supplement manufacturer provides undergoes final product quality assurance. Lastly, find a business that provides you with oversight of each part of the manufacturing process. This includes production, vitamin testing, labeling, packaging, and distribution. Locating a quality manufacturer for your new Canadian business will help your enterprise to survive.
Create an eye-catching label
One of the most important steps of creating your supplement business in Canada is choosing your labels. The labels of your product will have to be eye-catching. Think of famous brand logos like Coca-Cola, McDonald’s, Wendy’s, CNN, and Playstation. All of the products or services which each of these businesses provides are recognized in most cases by their branding or labeling.
The branding or labeling of your product containers also has to be informative. Your customers want to see what raw material and ingredients are in your tablets. Your labels also must adhere to the supplement industry labeling standards of both the FDA and Health Canada. Creating the right label will ensure that your product will consistently sell.