How to create your own Private Label products
If you’re researching ways to grow your business and expand your range of products for the retail sector, private labelling offers a wealth of opportunities. Private Label routes work best for brands that are already established and enable them to generate passive income with little involvement, time and money spent to enable it to happen.
Did you know that in Europe, between 20%-50% of products sold are private label? This is because it’s such a savvy way to expand your brand and collaborate with a partner with so much experience in research, development and distribution.
Within the private labelling opportunities there are generally two main routes. These include branding products that are already developed and ready for sale. This is the quickest route to sell private label products as you are choosing products which are already researched, designed and developed, pass all safety requirements and are ready for your label!
Another route is to work alongside manufacturers to create a product not already in their range. This can take a longer time to get to market than choosing products already created, but has a whole host of benefits. The main one is that working with a business like Simply Brands if often a lot more cost-effective than going it alone to create a new product. We already have the connections, resources and know-how to get your ideas off the ground with lower upfront costs than going for it yourself.
Top 7 advantages of private labelling a new product:
1 – Control
We are here to work for you. You can make decisions on materials, production rate and any factors which may impact sale or cost of sale.
2 – Pricing
You’re going to sell this product at the end of the day, so you can decide on what you think this product is worth. You will also be able to manage production to create a profit margin that works for you.
3 – Adaptability
We are ready to rock and roll as soon as you give us the word. As we said, with our connections, experience and ability to adapt to any request, market or industry changes, you can pursue a rising trend or market demand with little to no fuss. By starting from scratch or not working with a private label manufacturer, you’d never be able to react and act so quickly.
4 – Branding
Our in-house design team work closely with you on the finishing touches of the product to make sure it appeals to your target audience and is a great addition to your existing own-brand range of products. This new product needs to be eye-catching but be on—brand and on-trend. We can work with you to deliver just that.
5 – Network
Our experience in distribution management and shipping facilities is something we are extremely proud of and has taken years to get into a strong position we know really works for all of our clients and our buyers. This solid network enables speedy, reliable and efficient distribution to a global marketplace.
6 – Compliance
The legal stuff! Not the most exciting part of product development, but the most important one nonetheless. We take the time to ensure every product we create is compliant in every marketplace it is being sold and adheres to regulations as a minimum; exceeds them as an ideal.
7 – Proactive
Private labelling existing products that are ready to add your branding is a brilliant reactive step for businesses wanting to hop onto an existing, rising trend. However, as creating a brand new product takes a little more time and financial investment, it’s great for businesses who want to be ahead of that curve. Trend-setting leaders show the consumer what they want and need before they even realise it for themselves; but at a fraction of the cost of going it alone with production.
If you feel private labelling is for you, and what to find out more from our team, get in touch today. We can guide you through the different routes and the processes involved and discuss your ideas for product development.
