Know The Industry and Know Your Manufacturer
It’s a well known fact that the supplement industry is not only competitive but filled with enough sharks to open an aquarium. It’s true that there are companies out there lead by individuals that would either outright scam you or attempt to undermine your intelligence by hiding the truth of what’s actually in the supplements they sell. Before you launch those new, best-selling supplements, make sure you find an honest supplier.
There are many ways for these unscrupulous companies to pull the wool over your eyes. But there are also ways for you to protect yourself and your company – and the methods are easy. You should understand how to tell the difference between the two lest you become a victim.
When you select a manufacturer, you are selecting a partner in your business and it’s important that you do your due diligence and select the manufacturer that can deliver quality supplements in a timely fashion.
Importance of Differentiation through Nutraceutical Manufacturers
Just as you need to differentiate yourself from you competition in the marketplace, the same is true for manufacturers. Nutraceutical manufacturers need to earn your business and to compete they have to show you why they are better than others – whether they offer a better facility, better products or more services.
As a business owner, you need to choose the right partner based on what they can offer your business and based on your needs. One of the best ways to choose the one that suits your needs is to be prepared to ask the questions that matter to you. Can your manufacturer deliver what you need? Can they provide your supplements in a timely matter?
How to Choose the Right Nutraceutical Manufacturer
To help you get started, here are a few tips to help you choose the manufacturer for your business:
- What do clients of the manufacturer say about them? Look for reviews, BBB ratings, word of mouth and other sources. Find out what other people think of the manufacturer, but weigh out the results, look for good results and bad results and make a decision only after looking at everything. Everyone can get bad reviews, some may be true, some may be false. Keep that in mind.
- Get the best price. Any manufacturer has a price list with all products and most of them offer better pricing based on the amount of product you order. The more units you buy, the better price you get. Almost all prices are negotiable. Get your quote, and do your best to get the best price you can.
- Know what you need and be prepared to ask the right questions. If you’re new to the business, a startup for example, you should know what you need – the product, the bottling, the labeling, the boxing, etc. Learn about the process and ask what your manufacturer can deliver the services you need.
- An important thing worth considering is that whether the nutraceutical manufacturer has product liability insurance. It’s imperative to be aware of the kind of insurances you have, and the losses you can suffer as the protection of your company in regards to preventive measures should be a top priority.
- Tour the facility. Most manufacturers will allow you to tour their facilities and gladly show you around. If you have any questions about the place, go look at it.
- Customer service. Does the manufacturer you work with employ friendly and helpful staff? In case you need to get help someday, you may want to pay attention to their ability to help you should you ever need it.
- MOQ. The minimum order quantity can be very important no matter what size your business is. Whether you want to add to your line or begin a new company, when a company offers a low MOQ, it’s easier to expand while minimizing your risk.
- Delivery speed. How long will it take for your manufacturer to replenish your stock when you sell out? What is their lead time? Will this lead time work for you?
When selecting a manufacturer, you will go through a vetting process. If you take your time and ask the right questions, there’s no doubt that you’ll make the right decision. Choosing a partner can make or break your business so choose wisely.