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Starting a soap business is great because you get to decide how much time and money you get to invest in it. It’s also quite easy to set up as a home-based one-person startup. This way, you get to make some extra money, while trying out firsthand what it means to be an entrepreneur. This kind of experience is more useful than enlisting in a business school and maybe your introduction to entrepreneurship. At the same time, there’s no cap as to what you can achieve while running a soap-making business. Who knows, eventually, you might end up making a business empire.
1. Learn how to make soap
Before you even get started, you need to learn how to make soap. Sure, at first, you’ll be the one manufacturing it but even if you are more ambitious and plan to have production set up independently, this must be your first step. Why? Well, by learning the process, you’ll understand all the equipment and ingredients that it requires. You’ll also learn how to anticipate various bottlenecks. This will make your oversight of the business more solid and provide you with a better way of handling the situation as a whole. Also, keep in mind that, in this industry, you’re more likely to start from scratch than buy an existing franchise.
2. Learn how to sell
In his book, Rich Dad, Poor Dad, Robert Kiyosaki advised a writer friend of his that she should enroll in some sales courses. When she asked if he was jesting, he took the book that she was reading at the moment and pointed out that, on the back, the author is described as best-selling, not best-writing. The same thing goes for your soap-making business. Sure, having the best ingredients and the best product is incredibly helpful but learning how to sell it is even more important. Your sales will determine how well your business is doing and this is something that you should never underestimate. Professionally developing in other fields is, generally, a good idea.
3. Diversify your products
If possible, you might also want to create many different product types, so that you don’t put all your eggs in one basket. Sure, you want some traditional (square or oval) solid soaps but what about bags with liquid soap? This way, you open up a whole new market with people who have restaurants and bars. In their bathrooms, there’s usually a liquid soap dispenser on the wall. For hygienic reasons, they will never go for conventional soaps. Keep in mind that this opens up a whole new category of buyers to which you would otherwise have no access.
4. Create your brand
Why your soap and why not someone else? More importantly, how will people tell a difference between your soap and some other brand? This is the question that penetrates almost every aspect of your business. The packaging you choose is a matter of logistics. The shape will determine the packing space that can fit into a box. The color is determined in the production stage, which means that it will affect your future formula. All of these questions need to be answered in advance. Just think about Breaking Bad and their blue crystals’ role as the plot device. Ideally, you’re aiming for something similar.
5. Think about marketing
No, you don’t need billboards across the city right away. For the time being, you can do just as well with some basic digital marketing. You should make your website, as well as advertise on social media. You can use platforms like Instagram to directly sell your products. Just keep in mind that the more marketplaces you enter, the larger the net you’re hanging to attract your audience. You’re also making it easier for people to find you and reach out.
In conclusion
The last thing you need to understand is that running a business and making soaps work well together but the first factor is more significant. Do you think that the best product is always at the top of the market? It’s all about profitability, marketability, and making the right moves business-wise. Naturally, being unique and maintaining quality also matters. In other words, it’s all about attention to detail.
