Private Label business is comprised of several workflows, in order to keep focused on goals, you must follow and track your progress.
Here is how I do it.
PRODUCT RESEARCH
This phase will include product hunting and research. The intent will be to find a viable product.
- Product Hunting & Research: Find viable product
- Landing Cost Calculation: Product unit cost + Transaction Charges + Shipping Cost + Transaction Charges, per unit
- Patent Check: Check patent yourself or hire someone
- Order Analysis: MoQ & Launch Cost: Find out what will be your initial inventory. We will calculate total launch cost here as well
SOURCING
We will contact our manufacturer/supplier during this phase and find if the product is according to our needs.
- Shortlist Supplier: Find and communicate with few suppliers/manufacturers and shortlist them
- Shortlist Freight Forwarders: Find and communicate with few freight forwarders (FF) and shortlist cost-effective yet dependable FFs
- Place Order: Once you are certain with the samples, place your order with supplier
- Production: Start to end of Production
- Inspection: Quality check of prepared inventory
- Shipment: Picking up items from factory/port to Amazon FBA