Many supplement manufacturers set out offering only custom formulas to their clients in the beginning not out of choice but out of necessity. But as the experience of a manufacturer begins to grow, they will often have expertly crafted supplement formulas that are easily mixed that may be attractive to multiple buyers at a bulk rate. These products, known as private label supplements, are often very sought after in the modern market because of the ease and affordability they provide. But should manufacturers offer private label supplements to clients?
Before this question can be answered, a supplement manufacturer needs to define the overall goals of their company. One common goal that can signal you should consider investing in private label supplements if the process is feasible is that you want to make money. As a more affordable entry-level option, private label helps anyone get into the supplement business and can quickly build the client portfolio of a supplement manufacturer.
One other important consideration for supplement manufacturers that are considering adding private label supplements to their product offerings is whether or not they have the partnerships available to making pricing more feasible. In many cases, private label supplements will be far more affordable than custom formulas because it is a pre-defined mixture that the supplement manufacturer has created or a raw material that can be sold as-is. Any additional packaging will also need to be added to this overall cost.
If you are ready to add private label supplements to your pricing menu, it is important to also ensure that the manufacturing software you use can help accommodate easy integration. As a software solution built from the ground up with supplement manufacturing in mind, you can rest easy knowing that your product implementation will be easy when you partner with Equitable Software. We invite you to learn how Virtual Office can help enhance your private label supplement manufacturing process.
Looking for a New ERP Software?
If you are interested in learning more about Virtual Office or want to see how this powerful ERP software can benefit your supplement manufacturing process, we invite you to request a demo and try it for yourself. We are confident that our industry-specific supplement manufacturing software contains everything needed to help you manufacture your customer’s products faster while keeping manufacturing costs to a minimum.