In our article “How to Choose Your Niche Product: Create Your Own Niche Product from Scratch” we listed two companies including Thomas where you can find American manufacturers, and Worldwide Brand to locate manufacturers that would dropship your products.
Private Labeling is easier and less expensive than creating your own product from scratch.
You take an existing product, repurpose it and put your label on it. Many companies do that. Some grocery stores would get name brand products produced for them by the name brand manufacturer or similar manufacturer and put their own brands on these products. You could see at Walmart Great Value brand on some over the counter products at the pharmacy that would say to compare them to the name brands. Sometimes few ingredients might be different when you compare a store brand to a brand name on a specific product. That is private labeling. It is easier for the manufacturer to repurpose an existing product rather than creating a new product from scratch. Remember you need to work smarter not harder to make money. If you can improve a product that is similar to what you plan to offer, it might be more effective and less expensive for the manufacturer to improve an existing product.
To private label a product, you could either change the packaging or few ingredients or both. Keep your changes to a minimum when you just start to keep your cost down.
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Some manufacturers specialized in private labeling have their own products they can wholesale you one and you retail to your customers or they could private label it for you.
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To private label a product you could choose an American manufacturer by searching at Thomas or Worldwide Brand or look for a Chinese manufacturer. The common website visited for Chinese manufacturers and suppliers is Alibaba.
Private labeling would require an initial capital investment from you as many manufacturers would request you order over 100 units.
How much you should have on hand before you start would vary. It makes sense to choose products around your brand and to start with one product that won’t cost you a lot per unit. You could even start your product research while saving for your capital investment. To keep your cost low, you could fulfill your orders at the beginning as drop shipping would cost you a little more.
If you choose to manufacture your own products, private labeling a similar product might get your niche product to your market faster and at a fraction of the cost.
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Thomas: https://www.thomasnet.com/
Worldwide Brands: https://www.worldwidebrands.com/
Alibaba: https://www.alibaba.com/
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