One of the many satisfying results of teaching Starlite Soap Studio workshops this past decade has been watching soap and lotion-making novices turn their newfound hobbies into enjoyable, profitable small businesses! Have you been looking for a new source of income, or a "side hustle" to supplement your regular paycheque? Launching a market stall selling soaps and lotions can be a fun and rewarding way to begin your own journey to financial independence. Here are some steps to help you get started:
RESEARCH YOUR MARKET
Before you launch your market stall, it's important to research your target audience and their preferences when it comes to soaps and lotions. This can help you create products that are more likely to sell.
DEVELOP YOUR PRODUCT LINE
Once you have an idea of your target audience and what they are looking for, it's time to develop your product line. Do you know the basics? Attend Starlite Soap Studio's workshops to gain all the knowledge needed to branch out and perfect your own formulations. You'll then be able to experiment with different ingredients and scents to create unique and appealing products.
CHOOSE A LOCATION
When it comes to launching a market stall, location is key. Look for a spot in a busy market or shopping district where there is high foot traffic.
OBTAIN NECESSARY LICENSES AND PERMITS
Depending on your location, you may need to obtain certain licenses and permits before you can sell your products. Check with your local government to find out what requirements you need to meet.
BRANDING AND PACKAGING
Develop an attractive and memorable brand for your soap and lotion business, and create eye-catching packaging that will make your products stand out on your market stall.
PRICING AND MARKETING
Set prices for your products that are competitive with similar products in your market, and develop a marketing plan that will help you reach your target audience. Don't under-price your products! You will put a lot of time and effort into this venture, so let your customers know that the high-quality products they are purchasing are well worth the price paid.
Once you have everything in place, it's time to launch your market stall! Make sure to have plenty of products on hand, Be enthusiastic, be approachable, be chatty, and make eye contact with every passer-by!
If you need advice on any of the above steps, don't hesitate to reach out to Starlite Soap Studio!