Many practitioners believe that developing their brand of high-quality supplements takes a lot of work, and as a result, they miss out on a great opportunity to expand their practice and improve the patient experience. The truth is that print on demand supplements are simple and inexpensive to produce and ensure that your patients receive reliable, professional-grade supplements that deliver the desired results. Print on demand supplements benefits both practitioners and patients. This article serves as a simple guide on how to get started selling your supplement brand at a low cost to clear up any confusion.
WHY SHOULD YOU CONSIDER PRINT ON DEMAND SUPPLEMENTS?
Print on demand supplements is an excellent way to build your brand image and marketing identity from a business standpoint. They can boost your revenue while also ensuring that your patients receive results. With print on demand supplements, two factors to consider are quality and trust. Your patients already recognize you as a reliable and knowledgeable healthcare provider. Allowing them to purchase superior supplements that produce the desired health outcomes will greatly increase their trust in you.
According to one industry study, the global dietary supplement market will be worth $327.4 billion by 2030 (at an 8.9% CAGR). Established supplement categories such as multivitamins, vitamin D, and whey protein powder will contribute to some of this growth. However, a significant portion of the growth in this space will come from entirely new product categories.
However, not all supplements are created equal, and when patients seek out lower-quality products online or at their local pharmacy, no one wins. Print-on-demand supplements enable you to focus on your clientele’s specific needs and desires while offering a selection of formulas you know and trust. Furthermore, they will need help finding a lower price on the brand you are selling online to reduce your profit margin because you are selling your brand.
THE BREAK DOWN OF PRINT ON DEMAND BUSINESS COSTS
1. Real Cost of Manufacturing Supplements
If you’re considering starting your supplement or vitamin line, the information below will help you better understand the hidden costs of producing these products. It will also assist you in explaining to your customers why your supplements are more expensive. Let’s start with the money needed to start a supplement business.
You can start a supplement business with $5000; however, if you have $10,000 to invest, it will be much easier. In general, $5000 can get you the following:
- 150 supplement units
- A website
- Professionally designed labels
2. Transparency isn’t Cheap
How do you ensure that your shelves are stocked with high-quality items? As a business owner, you should look for a supplement manufacturer who is FDA-registered, GMP-certified, and NSF-certified. Furthermore, the print on demand company you choose should be able to provide an analysis certificate for each batch, proving what ingredients are in each batch. While such manufacturers are not cheap, they provide guaranteed products.
Furthermore, business owners should refrain from trying to save money on label design costs. It is because most consumers base their supplement selection solely on the packaging. As a result, having a professionally designed label is critical. Professional logos can cost anywhere between $300 and $500 to create.
By skipping this step, you can save money on input costs but risk using low-quality components. Some ingredient verification processes are extremely expensive. However, rather than selling questionable, low-quality products, it is worth investing a little more for this level of quality and transparency.
3. Branding High-Quality Ingredients
Print on demand products containing patented, branded ingredients is typically more expensive. It is due to the organizations behind those products investing to ensure that the specific compound or strain they created in their unique way works. The price of supplements is influenced by the quality and safety of the raw materials used in their production. Companies frequently purchase raw materials from countries with less stringent safety and quality control legislation.
Because of the lack of traceability, safety, and integrity of raw materials, most companies worldwide can produce cheap raw materials. Despite the high cost of the ingredients, controlling the entire quality and safety certifications and supply chain will ensure consumer safety.
FACTORS INFLUENCING THE PRICE OF PRINT ON DEMAND SUPPLEMENTS
1. Ingredient Source
The origin of an ingredient can also influence the price. These include ingredients developed after years of research and financial investments to obtain substances with greater efficacy, quality, and absorption than those currently available. However, this higher quality comes at a cost that must be recovered to recover the investments and work required to develop them. However, it has the advantage of obtaining a technologically advanced and superior product.
Another factor that influences supplement pricing is the origin of the ingredients (synthetic or natural). Synthetic ingredient manufacturers can save money because their production costs are low, and there is no need to manage the natural sources from which the functional principles are extracted. On the other hand, these substances lack the same quality as natural ones. Another factor influencing supplement pricing is the bioavailability of the raw materials in the product.
3. The Concentration of Ingredients
The raw materials’ concentration and daily dosage are two of the most obvious and underappreciated factors influencing the supplement’s price. Several low-cost products with low ingredient concentrations are unlikely to be effective. To avoid supply disruptions or consumer backlash caused by product quality concerns, manufacturers must carefully examine regulatory shifts and adjust accordingly. Taking on these issues, on the other hand, is well worth it.
4. Type of Packaging
Furthermore, the supplement price is affected by the packaging type. Some ingredients perish quickly due to air, light, and temperature variations and require specific packaging and formats. However, “non-standard” formats are more expensive, and manufacturers who want to save money overlook this, resulting in a supplement containing altered ingredients, making the product less safe and effective.
If you want to learn how to start your print on demand supplement business, check out our previous blogs.
THE BOTTOM LINE
The information provided above will thus assist you in comprehending the true cost of producing high-quality print on demand supplements. The supplement market is robust, large, and expanding. It opens up a plethora of possibilities. The rise in supplement market growth provides an excellent opportunity for manufacturers and retailers to capitalize on a thriving industry. As you can see, getting started with print on demand supplements is relatively simple and cost-effective. If you’re new to supplement sales or need to know if investing in print on demand supplements is worth it, start by offering outside brands and tracking sales.
At Fulfillplex, we are experts in print on demand fulfillment and offer everything from inventory to shipping. As a top ecommerce fulfillment company, we have some of the lowest prices on the market and produce high-quality supplements that will set your supplement apart from the competition. Get in touch with us now!