One of the key drivers of many first world economies would be
manufacturing; the United States is no different. Over the years,
billions upon billions of dollars have been pumped into the
manufacturing process in order to improve the associated technologies
and bring down costs. There are numerous established manufacturers in
the country today; you can view their products in convenience stores,
supermarkets and pretty much every other place of business.
Despite
the fact that there are better manufacturing technologies to be found
in today's modern world, it is still quite difficult for every Tom, Dick
and Harry in business to manufacture their own products. This is
because the cost of setting up a manufacturing plant is significantly
high; in addition, one requires a team of professionals with a high
level of expertise in various aspects of manufacturing in order to have
everything up and running as smoothly as possible.
Be this as it
may; it is still possible for the average business person to manufacture
their own products without incurring heavy costs, courtesy of private
label manufacturing. To fully understand what this particular term
means, it is necessary to first and foremost define the first two words:
private label. In the simplest definition, a private label is a brand
that is owned neither by a producer nor a manufacturer but rather by an
individual or business entity that contracts a manufacturer to make the
said branded product for them.
Pretty much all consumer products
can be manufactured under this kind of arrangement, from private label
supplements, private label cosmetics to private label foods; the list is
endless. The main idea behind private manufacturing is to provide a
low-cost alternative to mainstream products. The purpose may also be to
avail to consumers an existing product in a different form. A good
example of the latter is a private label vitamin supplement in liquid
form as an alternative to solid vitamin pills.
In recent times, a
few private labels have actually risen to give international and
regional brands a run for their money. The approach in this case is to
market a private label as a premium alternative - one that offers higher
value than what people have been used to.
In order to achieve
great success with a private label, one must first find a specific niche
where a particular need exists. It is this need that one should then
aim to fully satisfy and more importantly with a product that not only
adds value to customers but one that is more affordable too.
A
professional private manufacturer is one who offers the full package as
far as product manufacturing is concerned. This includes: product
formulation and development; research; testing; full service graphic
design and logistics. The importance of a high quality final product
cannot be overstated and therefore one should endeavour to find a
manufacturer with a high level of expertise and experience.
If one
is just starting out, chances are that they will not need large volumes
of whatever product they are looking to have manufactured. In this
case, it is necessary to find a manufacturer who accepts small minimum
orders - most are known to accept only large minimum orders, something
that disfavours small businesses with limited finances.
