Did you ever think of starting a perfume making business? Believe me….. It is one of the most profitable ventures you can set up easily even from your home. However, you need to have basic knowledge of making perfumes, come up with some formulas that people would like and lastly it is the business acumen with which you can take your perfume making business to the next level. If you love to experiment with aromatic oils and blend them to produce a unique formula, then this is an opportunity to turn your creative skill into a huge moneymaking venture.
Most interestingly, perfume making business is not at all capital intensive; if you know the ABC of perfume making, you can easily start this business on a small-scale with little investment. You do not necessarily need any storefront to sell your personalized perfumes. Actually there are several ways to market them, create your own brand and raise awareness of your business. In this post, I have tied to make you known how to start a perfume business on a small-scale level and make a healthy living through your enterprise.
How to Start a Perfume Making Business
Starting any business involves some risks and challenges but if you are aware of them, you can withstand it and succeed. So, it is always better to do a thorough research before diving in to this venture. At this phase, you will learn how to mix up the essential oils to get some unique fragrances, the cores and cruxes of the perfume you want to make. You will also familiarize with the scents as you learn the different ratios or percentages to apply to get a distinctive smell. A blend and combination of some essential oils with your favorite fragrances will give your product a brand identity. Furthermore, you need to look for reliable wholesale suppliers for those raw materials. If you are determined in launching your own perfume making business, you should follow the steps I mentioned below to achieve your entrepreneurial goal.
Have a Business Plan
This is the very basic step one should follow in order to drive any business in the right path. The business plan states the short, medium, and long-term goals of your investments. It also contains the vision, mission, cash flow statement, financial forecasts, profit, and loss account statement of the business. However, as the business grows, you will continue to tweak and change some of the details to suit the current standard of the business.
Select the Formula for the Perfume
After you have concluded the research, you should be able to determine the formula for your perfume. This includes particular recipes, ingredients list, ratios and proportions of the various items in the mixture that could give you a refreshing fragrance.This formula is what gives you an edge over your competitors and makes your product outstanding. However, as I said earlier, the art of formula selection to make perfumes could be learned but practice makes you perfect.
Decide the Logo and Name of Your Perfume
You need to choose a logo to represent your brand name anywhere. You may look at the names of renowned products to get an idea. Then, decide a suitable name for your perfume that represents the brand, theme, and major fragrance in the product. If you are making a perfume containing some woody fragrance or musk generally preferred by men, then the name should sound masculine, attractive, and appealing to them. Moreover, if you are making the ones containing citrus or floral notes, the name should sound feminine in order to get the fancy of the female folks.
Bottling and Packaging the Perfume
Having completed the processing of your product, you need to bottle and package it for sales. You should choose bright colored bottles that could bring out the best properties of the perfume. For instance, you can use green bottles for citrus fragrances, black and gray bottles for musk fragrances, red or pink bottles for floral notes, and for aqueous fragrances, you can use bluish colors.
Settle on Pricing
You need to estimate the cost of making the perfume and decide how much each bottle could cost. This should be done considering the current trend of the prices of such caliber of products in the market. Most importantly, you should ensure the pricing covers the profit margin.
Marketing and Sales
The responsibility to market and sell your perfumes lies solely on you. You can start by approaching some perfume vendors that will sell to consumers and users. You may visit local spas and boutiques to get new customers. Another way to advertise your product is by packaging them as gift items for friends and family members during special occasions like weddings, birthdays, anniversaries, etc. You shall be contacted for more, if they prefer your product to others. Through this process, your brand will circulate very fast.
Selling Your Product Online
Do you know that you could sell your perfumes online? This is one of the avenues to advertise, market, and sell your products. You need to have a website that you can use to display your products as a means of promoting your brand or receiving feedback from the retailers and consumers.
The art of making perfume is a very viable business opportunity that could turn your finances around positively.However, it could be learnt but with consistent practice and dedication, you will become a skilled and prosperous entrepreneur. There are various avenues to advertise and market your products using online medium, the perfume vendors, and by offering them as gifts to friends and families.