Tired of the nine-to-five grind? Wish that you were the one calling the shots? Want more time to focus on your personal life and control your schedule? That’s why so many people choose to pursue entrepreneurship.
Make no mistake: it’s a tough road, but it can also be incredibly rewarding. There are lots of ways to pursue financial freedom, including one you might not have considered: selling vitamins.
Benefits of selling vitamins
So there are a few obvious and not-so-obvious benefits to starting your own vitamin business. First, some of the obvious ones. To start, you’re the one that’s in control. You work when you want and where you want as long as you’re able to consistently fulfill orders.
Want a day off? Take it. Need an extended holiday? Go for it. When you run your own business, the rules are yours to set. It’s also a great way to extend your financial reach. Selling vitamins can be pretty lucrative, if you go about it the right way.
Now, some less obvious benefits. Depending on the vitamin manufacturer you partner with, you might not have to keep any physical inventory on hand. If you live in a smaller residence, it’s easy to see how this is a bonus. None of your space needs to be devoted to products and oftentimes the manufacturer will handle shipping.
Also, an at-home vitamin business often requires very little upfront investment. You won’t need to worry about a lease on a storefront since you’ll be working from home. Realistically, your startup costs will consist of product orders, potential shipping expenses, and an e-commerce site to sell your goods. Essentially, selling vitamins is a low-risk, high-reward endeavor so long as you’re putting in the work.
Starting up your business sounds simple enough, right? In some ways, yes. In others, maybe not so much. As with any business, you’ll need to do a fair amount of research and planning before you get started. This includes market research, product decisions, and business licensing.
The former might be as easy as deciding that you’re going to sell exclusively online, where you can easily market to most any demographic. However, if you’re going to sell in-person, you’ll need to know a bit more about your target audience.
Factors like age and gender have a big impact on purchasing decisions, so you need to narrow down who your ideal customer might be. This will, in turn, affect your product decisions. If you’re targeting a younger population, a pre-workout vitamin might prove more popular than a multivitamin with bone support.
As far as licensing goes, even if you’re only running an online marketplace, you’re still legally viewed as a mail order business which requires you to follow certain regulations. If you’re selling from your home, in-person, you may require additional licenses. Luckily, your city probably has numerous resources and applying for a license can often be done online or at your City Clerk’s office.
Naturally, as a licensed business, you’ll need to approach finances a little differently too. Unless you’re a bit of an accounting wiz, you may not want to handle all the numbers on your own. For many entrepreneurs, retaining financial advice is well worth the investment. Most businesses file taxes and handle payroll a little differently than you’re used to, and understanding the nuances of this might be the biggest hurdle when it comes to starting your company.
Selling vitamins is an excellent option for any budding entrepreneurs that are ready to take greater control of their lives. It provides less upfront risk than traditional business ventures and a savvy marketer could easily find themselves as a full-time business owner. Do your research ahead of time and be prepared for occasional bumps in the road. Once you’ve done that, you’re good to go.