Why We Take Year-End Inventory & You Should Too!
This January, as we do every year, we are closing for the first week to run inventory here at Essential. We do this for many good business reasons, including to keep accountants happy and better forecast the next year. Counting inventory is critical for every commodity business, and in our case it means that we […]
Filed in: Business Tips
Tagged with:inventory
Farm Bill, CBD and Cosmetics
On December 12th, the US Congress passed The Hemp Farming Act of 2018 as part of this year’s Farm Bill. And the bill is on its way to the White House for signature by the President. This legislation legalizes the agricultural production of Hemp in the United States, and it then regulates that activity. This […]
Filed in: Business Tips, Compliance, Ingredients
Tagged with:CBD, compliance, Hemp
The High Cost of Lavender (and Other Ingredients)
The price of Lavender Essential Oil has gone up again this month – another 12% on average. This huge jump follows similar increases in price each of the last three months. Our suppliers tell us to not expect to see price, or availability, relief until next summer when the new crop is out. This means that […]
Filed in: Business Tips, Essential Oils
Tagged with:lavender
Handling Price Increases & Tariffs in Cosmetics
Unpleasant though it may be, 2019 brings increases in ingredient prices from high demand and new tariffs. Given that these price increases are unavoidable, it’s important to take as many steps as possible to minimize any negative impacts on your business and for your customers—much as we are trying to do here as well. This […]
Filed in: Business Tips
Tagged with:pricing
How to Name Your Product & Upcoming Name Changes
In October we are changing the names of several products for a few reasons, so we thought we’d explore why we’re doing it and offer some tips on naming your own products with the perfect product name. The main issues you’ll run into while naming your skin or haircare products are FDA regulations on claims, […]
Filed in: Business Tips, Marketing, News & Stuff
Tagged with:launching a product
How to Deliver an Investor Pitch for Your Beauty Brand
A pitch deck is a brief presentation, often created using PowerPoint, to provide your audience–typically investors–with a quick overview of your business plan. During a pitch you present your business and your main brand idea to secure capital. To do this you’ll need a lot of information and preparation to handle the actual presentation and […]
Filed in: Business Tips, Marketing
Getting Started With Online Retailers
Selling your beauty brand online is an important step, and beauty products account for roughly 9% of online shopping sales. It’s an easier way to get your products in front of more people, so it may be worth finding an online retail partner to sell your brand in their established store. Compiled from interviews with […]
Filed in: Business Tips, Marketing
How To Choose A Logo For Your Beauty Brand
Your Logo and Your Brand – How to Choose a Logo Developing your brand and business will entail creating a beautiful and relevant logo, but finding the perfect design can be a real challenge. A logo is a chance to broadcast who you are to your target audience and catch their eye. It is, however, […]
Filed in: Business Tips, Marketing
Tagged with:beauty business, branding, logo
Selling Your Brand to Spas
Spas represent a tantalizing market for indie beauty brands because of their relatively small order sizes and the steady growth of the spa market. This article is drawn from interviews with several spa owners and industry professionals, and they offer guidance on how to create and maintain a relationship selling to spas. Spa revenue in […]
Filed in: Business Tips, Marketing
Negotiating Successful Retail Contracts
So you think you’re ready to jump into the deep end of the pool and sign your first retail distribution contract. Good for you! Before you do that, though, you’ll want to be sure you understand all the terms, negotiation opportunities, and relationship ‘must do’s’ to be financially successful with our retail partners. In this […]
Filed in: Business Tips, Indie Beauty
Tagged with:business, distribution, retail