4 considerations when choosing a new product brand

Choosing a new product range is an extremely important decision to make for your beauty business as it will greatly impact your treatment offering.  

Making the right decisions can result in high profit margins and client loyalty, while making the wrong decision can become a costly mistake.   

The cost-of-living crisis is greatly impacting the beauty industry in the wake of covid. With spiralling costs and consumer spending being squeezed, it is vital that an objective approach is taken when selecting a new product range to ensure the best for your business.

Know your market

First and foremost, identify your target demographic and determine what those clients want and need. 

It would be futile to select a high-performance scientific-based brand if 90% of your client base books treatments mainly for relaxation. So, be objective and knuckle down to the nitty gritty of your business to select ranges appropriate to your clients’ needs.

Questions to consider

• What client range do you want to aim for?
• Are your clients younger or more mature?
• Are most of your clients male or female?
• Are your clients focussed on gaining results or do they prefer the more luxury/pampering side of treatments?
• Do your clients have a high spend allowance or are they more budget driven?

Once you have objectively identified your market and know which kind of products you are likely to need it is then time to look at which companies are out there.

Do your research

Identify which brands are available by researching in trade magazines, visiting trade shows and even searching the internet to get a feel for the many brands available. Have your clients mentioned certain brands to you?

Once you have picked a selection of brands on offer, it’s time to contact these companies and request information and samples to try. Many will send these in the post or some may send a representative out to see you face to face. You may also consider visiting one of the various trade shows and speaking to them directly there.

Try products for yourself

It's critical that you try the products on your own skin to see the results for yourself. You are the biggest advert for your own business and your skin needs to look appealing to your clients. 

If the skincare is not effective, not only will your skin not look its best, but you will not be positive about it, and this will show to your clients.Once you have shortlisted the ranges you like, invest in some small, travel sizes of the products and use them for a longer period of time. This will give you an idea of their effectiveness and how they work over a longer term.

It is also strongly advisable that you book in for treatments with each brand to experience the professional products in action. The products you sample will be homecare products used to maintain the effects of a professional treatment.

Does the treatment meet its expectations? If the treatment you experience falls short and doesn’t give a noticeable effect, then your clients aren’t likely to rebook or buy homecare, which damages their confidence in you and your business. 

You may see trying products and treatments as spending unnecessary money, but this is part of your market research and the costing should be worked into your business plan.

Be objective

At this point, you will have narrowed your choice down to a small number of product lines and it’s now time to do the real work. You must now look at the many business factors that seriously need to be considered:

• How much is the start-up cost or opening order? 
• How much will ongoing professional products cost?
• Are the professional products able to be used with electrical modalities if needed?
• How much will a treatment cost you to perform?
• How much can you charge for treatments?
• Are there many other salons/therapists in your area using this brand?
• Does this brand offer homecare to retail?
• What is the profit percentage on the homecare to retail?
• Does the brand allow discount online selling of homecare by other stockists?
• Does the brand sell in shops/department stores/TV shopping channels?
• Does this brand offer support?
• Does this brand offer training?
• Does this brand offer marketing material?
• Is the brand unheard of/well established/saturated?

It is important to think realistically and pro-actively now, as you may have set your heart on a brand that ticks the boxes emotionally, but not practically.Don’t choose a brand that you hope will work, even though the odds are against it, because the chances are that it probably won’t.

Eve Taylor London can benefit your business with natural, affordable, aromatherapy face and body care. Just complete the professional application to receive your introductory pack and a selection of samples. The brand has opening orders to suit business models of all sizes. 

Matt Taylor, is brand & education manager at Eve Taylor London. This is a sponsored post in association with Eve Taylor London.