The Advantages of Private Label Products
Offering your own private label products in Ohio can offer some incredible business advantages. Private label products are manufactured by an uncredited third party and sold under a private brand—think Costco’s Kirkland Signature line, or how Trader Joe’s keeps their prices so low.
When you’re considering offering your own custom branded products to your clients, you should always research your manufacturer’s products along with your target market. At Olivamed LLC, we’re happy to work with you to create your own specialized line of high-quality edible oils so that your brand will have the best shot at success. Here’s a closer look at some of the benefits:
- High margins: The biggest benefit of private label brands in Ohio is their profit. Private labels often bring in much higher profit margins than branded products, namely because the cost of manufacturing and selling your own brand costs less. If your brand offers something unique or of incredible value to the marketplace, you’ll be poised to make significant gains. Olive oil and other edible oils are great products for your personal brand—it’s a cooking necessity but can also be a luxury item.
- Customer loyalty: When your private label products are consistently a great value for a superior product, you’ll build a loyal customer base. Those who purchase your brand will associate its positive attributes with your store at large, allowing you to expand your core customer base.
- Exclusive products: Exclusivity is a great way to drive sales—it creates a sense of urgency and desirability. In short, people tend to want things they think are particularly coveted or unique. When you market your private label well, you have the opportunity to make your products a sales sensation.
- Potential for wholesale: Depending on how well you market your private label, you might want to consider offering it wholesale. This creates additional revenue for you while also expanding your brand’s reach.
Drawbacks to private label products
Of course, private labeling isn’t for everyone. If you choose the wrong manufacturer, your quality and sales could plummet, since your product is highly dependent on that manufacturer or distributor.
People can associate the lower price of private label products in Ohio with lower quality, which makes them more difficult to market. It’s also a marathon, not a sprint—generating revenue and building customer awareness can take years.
However, when you have a trusted manufacturer like Olivamed LLC, private label products can be a great opportunity for your business’ growth.
Learn more about private label brands in Ohio
For more information about private label products, reach out to the experts at Olivamed LLC. Olivamed LLC is a privately-owned olive oil distributor offering high quality edible oils. We also offer purchasing, packaging and fulfillment of our products. Thanks to our international connections with the finest olive oil producers in the world, we’re proud to offer incredible value to our clients. Packaging and supply are available for retail, food service and industrial purposes. We serve customers across Ohio, the United States and the world, including our private labeling services. Reach out to us today to learn more!
Categorized in: Labeling