Professional Beauty chatted with Jen Rudd, a regulatory consultant and mentor for Australian cosmetics brands and the founder of Skincare Business Foundations. We asked her what her top tips were for starting a skincare business. After running her own skincare business and having more than a decade of experience risk management, auditing and compliance Jen had a unique perspective on the industry. So she decided to combine her business know-how and industry knowledge to help others build a solid business foundation. She started Skincare Business Foundations in 2018 and has been supporting brand owners with expert regulatory advice and time-saving guides since, including a signature course on how to start a skincare brand in Australia. Read on to find out what she says are the top five things you need to do before you spend money to start a skincare business.
Be clear on your vision
“Skincare is a highly-saturated market, but the good news is that natural and organic skincare is booming, with worldwide sales continuing to increase 5-10% each year. To make sure you’ll have a brand that stands out from the rest, be clear from the start on who your ideal customer is and what problem you’re going to solve for them. And what makes your products unique.”
Work out your start-up budget and costs
“When starting a skincare business, there are a number of costs to consider, including business name registration, insurance (a must-have!), branding, equipment, inventory, packaging, website development, just to name a few. Estimate and prioritise them (a simple Excel spreadsheet works), then spread the costs out over the course of your start-up phase to make it more affordable.”
DIY vs outsourcing
“Think about what you can do yourself in your business and what you should outsource (and who can help you). For example, if you’re creative with graphic design skills, you could save money by creating your own logo and branding. If not, hire a professional to do it. Yes, it costs money to outsource, which can be hard if you’re on a shoestring budget, but it’ll save you time and stress, and make you more money in the long run with a professional-looking and standout brand.”
“Think about any areas you want to or need to learn more about that will fast-track your path to success. For example, if you want to make your own products, enrol in a formulation course, rather that using DIY recipes you’ve found on Pinterest! Alternatively, if you want to learn all about the business side of things from someone who has been there before, my signature Skincare Business Foundations course will help you launch sooner, with more confidence and less stress.”
Get to know the regulations
“Australian cosmetics regulations aren’t as strict as some places like the EU, but there’s still a minefield of legislative to navigate. In fact, there are more than 12 important laws and regulations you may need to comply with when running a skincare business. One of the things I love doing is translating these into guides and blog posts for skincare brand owners to more easily digest. Happy reading!”
As you can see, there’s a lot of work that goes on behind the scenes to build a skincare brand, but it can be hugely rewarding on both a personal and professional level.
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