Supplement, Herbal Tea, and Nootropic Shop

[deficiT]

Hey folks,

I haven't had very much activity in this forum so far, due to life circumstances, kinda being down on my luck, and not really having any solid ideas.

But basically, I've come up with a plan that will likely start out fairly small, maybe a side thing as I search for more full time employment, which will hopefully give me the means to put money into this project. But my hope is that it can eventually become a full time gig where I can be my own boss, and give my folks something to supplement their retirement income. My stepmom in particular is very knowledgeable about tea and herbs, and having them involved gives me a place to work and a small shipping workforce. As well as motivation to do all this.

But essentially I want to start a supplement and herbal tea vending shop online, that can maybe become a local business if it goes right, and maybe evolve towards nootropics if possible. I am currently about to write down my business plan, but wanted to come here for advice to see if there was anything I was missing.

My first plan was to come up with a couple proprietary supplement blends. For example, L-Tyrosine + Ginseng for a morning energy boost. And say L-Tryptophan & Ashwaghanda for an evening sleep aid. I've found a couple suppliers, and am planning on just starting small, product wise, and then move on to bulk supply. As well, I would want to get some teas, that I could maybe soop up with a couple herbs or supplements. As well, I've got a light and a bunch of seeds to grow my own herbs. Plan to get a capsule maker, bottles, packaging, labels, as well as materials to make solutions/tinctures.

I won't go into every single aspect of it at the moment, as frankly it's still embryonic and that's what I need to iron out, but does anyone have any initial impressions, or advice for things/costs I need to consider or look out for?

Any advice is appreciated, and I look forward to contributing to this subforum a bit more in the future. This is a plan I've kicked around in my head for a long time and I think it's high time I really made moves to make it happen.

 

[Jabberwocky]

I've seen a lot of successful startups in this area. I'm no business expert, but I think finding your niche market is key here.

 

[arrall]

Marketing is also key.
Getting customers on Reddit and other avenues will really help you get off the ground.

 

[G_Chem]

You could also sell medicinal monofloral honeys, to be had with the tea. If you got into foraging you could sell “wild crafted herbs sustainably harvested.” I’ve thought about doing this a bit, selling psychoactive and medicinal plants but I’m not social enough plus not a good sales person.

-GC

 

[Jabberwocky]

Would you be making the supplements etc yourself or would you be a third party for other more prominent vendors?

It looks like you're planning on making your own which is awesome.

The key things I'd focus on before starting are:

Your ideal customer - literally create an actual fake person/people who your product is aimed toward.
Your brand - what does it stand for and match this with your ideal customer.
Your USPs - Unique selling points. What makes you stand out from your competitors? (will also include product quality etc).
Your margins - your profit margins will dictate how you can market your product.
Do you plan on making the business to sell in the future or to run and grow yourself forever? If you plan to grow and sell, backwards engineer how you can get to that point i.e how to remove yourself fro the business so you can sell it.

Once you have these in place then start worrying about marketing.