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Essential oils have a wide variety of uses, from treating physical ailments and creating natural household cleaning products to simply helping people relax and unwind. Because essential oils can be used in so many different ways, the essential oil industry has thrived for decades with no sign of slowing down anytime soon. If you’re interested in joining this booming industry, here are some of the most important steps to make money selling your own essential oils.
Determine How You Will Acquire the Essential Oils
In order to start an essential oil business, you will first need to acquire the oils you wish to sell. To do so, you essentially have two options: you can make your own essential oils, or you can purchase them wholesale and resell them.
If you choose to make your own, keep in mind that you will need to purchase or rent highly technical production equipment that can require a rather lofty up-front investment. In addition, you will also have to develop a strong understanding of essential oil extraction methods. That said, making your own essential oils could end up saving you more money over time and will give you more control over their quality than reselling wholesale oils.
Choose Your Method of Selling the Essential Oils
Once you’ve determined how you will acquire the essential oils, the next order of business is choosing how and where you will sell them. When starting an essential oil company, there are several different methods you can implement to sell your product. Some of the most common and successful options include:
- Go Virtual: Selling essential oils virtually is one of the most popular and inexpensive options. If you want to sell your oils online, determine if you want to create your own website or if you would prefer to sell your product on an existing marketplace such as Etsy, Amazon, or another online platform.
- Create an Add-On: If you want to sell your products in a store but don’t want to open up your own shop, creating an add-on to an existing business is a great option. Health and beauty companies such as spas, yoga studios, and beauty supply stores are all great options if you can negotiate a partnership with the owner.
- Set up Shop: Another option for selling your essential oils is to set up your own shop. If you don’t want to take on the risk of renting a permanent storefront, you could also consider setting up a pop-up shop, which will allow you to interact with customers without taking on high overhead costs.
Marketing Is Everything
Another step to make money selling your own essential oils is to market your products well. As previously stated, the essential oil business is booming. While a thriving industry makes for a potentially lucrative business opportunity, it also makes for a lot of competition. In order for your product stand out among the sea of other, more established brands, you will need to invest a significant amount of time and energy into developing an exceptional marketing strategy.