Choosing a product supplier is one of the most important decisions that a beauty company will have to make. The list of suppliers has only gotten longer, and so it is more important than ever that brands are clear on their goals, principles and USPs in order to find a supplier that not only supports them, but maximises their potential within a super competitive industry.
In this article, we will be focusing on the key criteria that beauty brands need to make sure is met before committing to a partnership with a supplier of skincare bases.
What to consider when choosing a beauty product supplier?
Alignment of business goals
Before beginning your search for a supplier, you need to make sure that you are clear on what defines your brand and your target market, because this will directly influence your choice of supplier. The alignment between your brand’s values and the deliverables that a potential supplier can offer is key in making sure that your skincare line reflects the very best of your brand.
Assess product quality
When searching for your supplier, it would be in your best interests if you requested samples from the different suppliers that you are considering in order to assess and compare quality. Samples will help you assess performance and usability.To find out information about the formulation method and adherence to regulatory standards, you will need to talk to the suppliers directly.
Certifications
Certifications that a potential supplier hold are important to consider because not only does it guarantee that the product is safe, but that it also meets established quality standards. We recommend opting for a supplier that has a history of successful product launches and a proven track record of expertise in organic skincare base formulation.
Sustainability and ethical practices
It is important to ensure that your chosen supplier’s social responsibility initiatives align with the sustainable and ethical practices that you consider to be an integral part of your brand. This means discussing matters such as cruelty-free and ethical sourcing of ingredients, the supplier’s commitment to environmentally-friendly practices during formulation and manufacture, and the handling of waste and minimisation of their carbon footprint.
Pricing
Cost is a significant consideration when selecting a supplier for the primary reason that you want to ensure your skincare line remains profitable. In order to make the best financial decision for your brand, we recommend finding a supplier that balances competitive pricing with the ability to adapt and adjust to changes in the market, and offers versatility in regards to minimum order quantities (MOQs) and large volume orders. It is important to be made aware of any and all contractual terms by your chosen supplier prior to committing to a partnership.
Prices can differ depending on if you choose to work with a foreign supplier or a local one. A foreign supplier might offer lower production costs, but there are likely to be hidden fees to do with shipping, customs and currency exchange rates. It is important to ask your potential supplier about the price range in regards to minimum order quantities (MOQs) and larger volumes, as well as any contractual obligations that you need to be made aware of.
Long time viability
After finding a supplier that meets the needs of your brand, the last thing you want to happen is for a complication to ensue with future supply demand. For this reason, it is important to be aware of a supplier’s financial security and long-term viability before committing to a partnership. It is important to note that a financially stable supplier is more likely to maintain a consistent level of product quality and meet future supply needs should the demand for a product grow.
We hope this article has helped you feel more prepared in your search for a supplier that is best suited for your brand. When it comes to making your decision, a key thing to remember is that choosing a supplier is not simply a logistical decision, it is one that will set the foundation for your future success within the beauty industry.
If you are interested seeing what we at Statfold can do you for as suppliers of skincare bases and organic essential oils, get in touch on our contact page and we’d be happy to have a chat!