One of the biggest obstacles we see customers face when first starting their supplement business is not knowing which supplements to sell. It seems like a gamble. Some people simply pick a supplement that will hopefully do well and then go all in. They then find out the hard way that there’s more to picking a product than making a guess.
Think about it, there are people whose full time job is product research! And since your product is kind of a big deal, it makes sense to do as much research as possible.
Here’s where to start.
Find a Supplement Supplier
At On Demand Fulfillment we actually help customers build their supplement businesses in the lowest-risk way possible. Our business model is one-of-a-kind and allows you to do market testing while still building your brand.
Our model combines private labeling and drop shipping to give you the best of both worlds. You get to put your label and your brand on the supplements and we’ll drop ship them for you. There are no minimum order quantities and you don’t have to pay for inventory up front. You pay us when your customers make the purchase.
We might be a little biased but we think it’s the best model for starting your own supplement company especially if it’s your first time or you’re interested in doing market research, here’s why…
We keep over 100+ supplements in house for you to sell online. You can sell as many of those supplements as you like. Heck, some people list all of our supplements on their site and then see which ones sell best. That’s one strategy but one that takes a lot of work.
We’ve got some tips to help you zero in on which supplements will sell the best so that you have more time to invest in fewer supplements for a better return on your investment.
1. Research Available Supplements
After you’ve found a supplier that you want to work with (whether that’s us or someone else) the first thing you need to do is to review their supplement catalog. This is already a great way to narrow your field to what is available to you.
Find a few supplements that you like or think are cool. Selling something that interests you is a lot easier since you’ll be working with it a lot: writing about it, talking about it, touting its many benefits, etc. If you don’t like it or believe in it, selling it will become a chore and you might not put as much work into marketing it.
Once you’ve got a short list of ingredients your interested in, it’s time to find out if these supplements have any potential. There are a few different tools you can use to do this.
2. Google Trends
Google trends is an amazing and powerful tool totally free and open for anyone to use. All you have to do is go to trends.google.com and start searching the supplements on your short list. Google trends will show you how interest in that keyword is trending over time.
You can see in the example below, that interest in keto salts has been increasing over the last 12 months.
You can also adjust the time range to see the bigger picture. In the last two years we can see that interest in keto salts has grown exponentially. If you wanted you could go all the way back to 2004 or use a custom time range if you only want to look at the past three years.
Not every supplement needs to be on an exponential growth trajectory like this but finding a supplement that’s steady or growing somewhat is important. A supplement that is on the downslope might not be one that you want to spend time and energy on.
3. Jungle Scout
Google Trends is a great tool for gauging whether interest in a supplement is growing or shrinking but it won’t tell you everything, like:
- What’s the competition like?
- What’s the existing demand?
- How much does it sell for?
That’s where Jungle Scout comes in. Jungle Scout is tool for researching competition on Amazon. It’s a paid tool but many ecommerce sellers rely on it as essential especially for product research.
The video below explains exactly how you can use Jungle Scout to answer all of our questions. And while you might not want to sell your supplements on Amazon, that’s ok. This still tool can still give you a great idea on the market as a whole since Amazon has a massive effect on the ecommerce market as a whole.
With the help of product research tools like Google Trends and Jungle Scout, you can start selling supplements and know that you’ve got a pretty good chance of picking the right supplement.
And with the help of On Demand Supplements you can market-test supplements without worry. Even if it doesn’t work out you’re not left with mountains of slow-moving inventory. But when you do your research you even decrease the risk of this because instead of spreading your attention and marketing budget thin on many, many supplements you can focus in on a few supplements you’re very confident in.