We are living in a new era of commerce where bouncing back from a global pandemic has forced numerous businesses in various industries to drastically pivot their operating strategies. While some have quickly failed and ceased operating altogether, other businesses have found ways to breathe new life into their business models by incorporating private label services. If this sounds new to you, continue reading below to learn more about not only what private label possibilities can do for your brand, but also how Theochem Laboratories can help you grow in the process!
Expand Your Business
The concept behind private label is a simple one, leverage your strong retail presence and partner with a trusted manufacturer to produce the product you have in mind. Whether you’re an established brand or just looking to grow your presence, leveraging this business model can help create revenue streams for your business where there wasn’t one previously. Listed below are 4 advantages that stem from partnering with the right manufacturer and how they can benefit your business.
Increased Profit Margins:
When introducing a new product to market, there are numerous factors you have to consider. From creating a new assembly line, hiring specialized workers, or even shopping for the most economical raw materials to begin a new product line, which can be both timely and costly. Not only that, but the entire process can also give the competition in the marketplace ample time to introduce their services and solidify market share. By leveraging Theochem Labs for your private label needs for cleaning maintenance products, you’re saving yourself the hassle of acquiring machinery, warehouse space, employees, time involved and more. With all of these costs taken out of the mix, you’re able to set your price to your liking and able to maximize your profit margins by reducing the startup costs involved. Lastly, with the quick turnaround time to get your new products to market, you can strategically launch during peak season or around certain events to ensure maximum sales and profitability.
Lower Overall Costs:
Another fantastic reason for leveraging private label goods is the lower costs involved. This point was touched on in the previous section but allow us to elaborate. From start to finish, every step of the process of introducing new items into your product mix will save you significantly in the long run. Theochem Labs offers essential products that everyone needs; so costly marketing campaigns aren’t needed to further sell these products. Not only that, but all of our products also perform above industry standard! Unlike other private label programs, we design your packaging, labeling and logo (if need be) all in-house. No matter if you’re an established retail powerhouse or a new startup, we have helped businesses of all sizes tap into new markets by offering quality products with an affordable, catered private label program.
Improved Brand Loyalty:
By utilizing the wide array of product lines Theochem Labs has to offer and including them as part of your product offerings can really have a lasting impact on your branding. The fact that our products serve a number of industries including floor care, food service, restroom, drain care, laundry care, disinfectants, hand & body, cleaners & degreasers, deodorants and more allow you to diversify your brand as well! Utilizing our wide array of products into your product mix will allow your business to serve as a one-stop-shop and increase brand loyalty. Not only that, but brand consistency also comes into play and customers will begin to expect a consistent level of quality knowing they can only receive these high-level private label items at your store. As opposed to having your customers stopping by your store to purchase only a handful of their necessities, having all of their purchases done at your retail location will not increase repeat business but ensure that your business is a prime shopping destination.
Increased Brand Awareness:
The last reason we will cover on why you should be taking advantage of Theochem Labs for all of your private label needs is brand awareness. Let’s say you have performed well in your respective market and as mentioned before, want to explore uncharted territory for your business. By leveraging our manufacturing power to tap into new industries, you’ll be getting attention from new customers and demographics that were previously unattainable. Whether you’re looking to expand into the food service arena, floor care, disinfectants, cleaners and degreasers, drain care, laundry care, deodorants or any product categories we mentioned earlier, expanding your business into new frontiers will only help grow your overall brand and familiarize your customers with your complete portfolio or products. We’ve said this earlier but each of our products are formulated to perform amongst the best in their respective industries and that is the high-level or performance to be expected in your future private label products.
There you have it, the overwhelming evidence of why you should partner with Theochem Labs for your entire private label needs. With the entire landscape of commerce as we know it constantly shifting in these uncertain times, diversifying your brand into new product categories will help stabilize your brand. For more information on our private label services, feel free to call our customer service department and inquire for more details on how you can get started today!