If there is one business that will always have a market for, it’s fragrances. Not everyone will be into makeup or skincare, but a big chunk of the market uses colognes or perfumes. Moreover, there will always be a space for entrepreneurs and businessmen who have something new to say in the industry, especially if they have a unique point of view and marketing strategy.
If you have a passion for fragrances and even personal hygiene, why not consider starting a perfume or cologne business? Here are some tips on how to start.
Establish a plan
While your perfume business can start with an idea or a concept, it won’t truly succeed without a clear plan and set of goals. Here are some things that your business plan needs to have:
- A mission statement
- A statement detailing the business’s initial goals—it should at least have a list of goals for the first six months and then for the first twelve months
- Desired cash flow
- Startup budget and costs as well as a detailed financial forecast
- Statements including profit, income, loss, and cash flow
Business plans need to change as your real-world circumstances change, so make sure to update it constantly and pivot every time your numbers ebb and flow.
Come up with a unique line of scents
Here’s the bad news: Every possible combination of scents has most likely been done before, especially since perfumes have been around since ancient times. But the good news is that you can market these scents in different ways, according to your unique point of view, voice, and expression. Your creativity can come out in terms of branding and content and what sets your bottles apart from others already there.
Moreover, some scents are more distinct than others, so try to steer clear from those already well-known and beloved so you can come up with something new but still palatable enough for most perfume wearers. Here are some tips for creating a line of yummy but unique scents:
- Keep it simple. Stick to the more basic scents as the top notes—like vanilla, lavender, sandalwood, and rosemary sage. These more down-to-earth and basic notes are perfect blenders for whatever scents you want to add as the middle and base notes.
- Let your creative juices flow! Make custom scents that customers can’t find anywhere else. Doing your own blending and testing will help you find combinations that work best together. Instead of asking a lab to come up with a sample, you can check and approve. It will make your perfume line uniquely yours, too!
Partner with the right lab or invest in the right equipment
Speaking of working with a lab, make sure that which manufacturer you work with has all other night licenses and certifications and chemical experts to make sure that everything is above-board and safe for consumers.
Don’t hesitate to ask for their credentials or inspect their laboratory to ensure that they are properly following the right health and safety protocols and have a sterile work environment and equipment, like a food-grade transfer pump from a reputable equipment supplier.
Your brand is only as good as the products it carries, and businesses only often have one chance to do it right. Make sure that your first rollout of products is perfect to have repeat customers. The only way to ensure this is if the products are legitimately good and perfectly manufactured. The right lab and tried-and-tested equipment will help you achieve these goals, so do your due diligence and don’t skimp on this partnership.
Use an original branding and marketing strategy
Small cologne and perfume businesses are a dime-a-dozen nowadays, so owners and brand specialists need to develop the perfect marketing strategies to attract people to their brand. It won’t matter how good your scents are and how long-lasting it is if people don’t know about them. Here are some tips for marketing your brand:
- Conduct surveys about your target demographic to know what’s important to them.
- Try to stay away from gimmicks. Consumers will see right through it, especially in the age of online reviews.
- Make inclusivity a core value of your brand and business.
If you have a passion for fragrances, leverage it to create a company that you can potentially leave behind to your kids or whoever is the next generation in your family. Believe in your capabilities and consumers’ enduring love for excellent perfumes and scents.