A Statista report revealed that the market value of the tooth whitening business in 2020 was about $6.15 billion. Additionally, it is forecasted that the market will grow to $8.21 billion by 2026. It may still be a long way to go, but the potential to create business networks and reach out to various markets is promising. Hence, more and more individuals choose to open up a dental and oral care business.
In essence, the teeth whitening business is a lucrative one. Suppose you want to invest your money and time in a business opportunity offering a higher return on investment (ROI); the teeth whitening industry can be an ideal option.
Reasons why one starts a teeth whitening business
If you are still doubtful about entering the teeth whitening business, the following reason might convince you otherwise.
- Business with a low threshold. Gone are the days when you could only open a business if you had a manufacturing capability. Today, one does not need huge manufacturing capabilities and investment to be a successful supplier. You can partner with a teeth whitening manufacturer to supply products for you. All you need to do is ensure to market them effectively.
- High perceived value in the market. It’s a no-brainer that everyone loves a clean, white smile. In some countries, customers whiten their teeth as part of their beauty routine. Additionally, more millennials are inclined toward sustainable products. Hence you can include bamboo toothbrushes in your product portfolio.
- Highly customizable products. Your business needs to offer something new with how competitive the industry is today. In the same way, manufacturers are also competing to provide more customization options for their clients. Besides the customization options, some even allow their sellers to combine flavors and ingredients for whitening products.
- Private labeling. Instead of selling whitening products for a company, you can sell them under your brand. In fact, Forbes reported that private label sales increased during the pandemic. Customers prefer private label teeth whitening products because of better results, excellent transparency, and affordability. Ensure a manufacturer that can supply you with quality products regularly.
- Value-added services from your manufacturer. Along with the essential teeth whitening products, most manufacturers provide additional benefits to help you start your business comfortably. In some cases, their in-house designers can provide you with packaging options. Also, they can handle the processes in manufacturing that all you need to worry about is how to market the products to your target market.
How to start a teeth whitening business?
The teeth whitening business is more than just capital and marketing; there are also some considerations you need to remember to make the most out of this lucrative industry.
- Decide on a business model. Come up with the type of teeth whitening business you prefer. Do you have an existing teeth whitening business and decide to add more products to your portfolio? Is it about supplying a teeth whitening clinic? Or e-commerce sales?
- Research your target market. Considering the tough competition in the industry, it pays to explore your competitors in the market. With this, you can identify how to design your products that are new and can ignite more interest from your target audience.
- Create a business plan. Business plans can be as detailed as compiling several pages. However, it does not necessarily have to be the case always. You can create a straightforward business plan showing the steps you need to take to kickstart your business and the money you need to invest.
- Establish a detailed marketing strategy. You cannot just wait for customers to reach out to you. It would be best if you introduced your teeth whitening products to them. Hence the need for a marketing plan. Additionally, one needs to know how much money is required at every stage of the marketing initiative.
- Choose your manufacturer. Competition is also challenging in the manufacturing sector. Choose a manufacturer who can do more than just produce teeth whitening products for you. Additionally, they must be experienced enough to cater to business needs like designing, customization, and even business analysis.
With Cinoll you can be assured that we will guide you and be with you from conceptualization until the end of the manufacturing. Over a decade of experience has trained us to accommodate clients’ requests and specifications. Additionally, our team can formulate strategies to cater to your specifications. We are aware of how complicated running a business would be, especially for the new ones. With this, we ensure to assist you in managing the complexities of manufacturing and the teeth whitening business as a whole. While you can be in charge of marketing your business, we at Cinoll will take care of producing quality teeth whitening products for you. More importantly, we cater to global brands allowing us to provide our clients with vast options effectively.