Do you need a business plan for a vitamin or supplement? In order to develop a business plan for a vitamin and supplement, you need expertise within the food products (or products) industry and experience from a business planning or financial planning perspective. Unlike a lot of food products, vitamins and supplements are more likely to experience a middle case scenario, whereas the target market of retailers includes a lot of independent vitamin and supplement shops as well as the major players such as GNC. If you want to write a business plan for a vitamin and supplement company, be sure to answer the following questions in your plan:
- What is unique to your vitamin and supplements that will lead to their sale?
- Do you need FDA approval for the sale of your product?
- What is unique about your vitamin and supplement?
- What is the target consumer profile?
- What is the estimated size of the target market?
- What are the competing product in the market?
- What are your distribution strengths and contacts?
- Where will you manufacture these vitamins and supplements?
Capital West Advisors has specific experience with vitamins and supplements and can help you to develop a very high quality business plan and financial plan at the most competitive prices in the industry. Contact us at (888) 300-3090 for a free consultation.