Are you a believer in healthy living? Want to spread this positive lifestyle to everyone with a health drink brand? At the same time, you are also a business enthusiast. But you don’t want to just start with a small retail store but a large business? Here are 13 tips on how to start a health drink business you absolutely need to know.
1. Have a plan with a clear development direction
First, you definitely need to have a plan with a clear development direction. A detailed business plan is like the “backbone” of the whole business. Based on this plan, you will know how to start a health drink business. You will always be on the right track, and know what you need to do next at different points in your business. A specific plan will include:
2. What kind of healthy drinks will you be selling?
It can be fresh fruit juices, healthy smoothies, juices for people who need to lose weight, detox drinks, organic drinks… It is best to sell drinks that you have used or successfully made yourself. “Sell what you’re best at” is a classic business motto that any junior entrepreneur should follow.
However, you also need to pay attention to whether this drink has an easy-to-drink taste, is it picky to use or not? A drink with an unpopular, hard-to-drink flavor will be difficult to turn a favorable profit in the first place.
Once you’ve identified the healthy drinks you’re going to sell, it’s easier to make a detailed list of products. In addition, once you have a detailed, specific list of health drinks, you will also more accurately identify the unique flavor, ingredients, and recipe for each beverage under your business brand.
Making a list of drinks that will sell is the most important step to do
3. How much is your budget right now?
Knowing your financial resources will help you control all sources of spending in the most optimal way. When you know how much your budget is, you will know how to allocate spending appropriately. From paying for imported production materials to technology, machinery, production lines, or even employees, marketing… all must have a clear budget. Only in this way can you minimize the risks arising from inflationary spending.
4. Who are your target customers?
Having customer insight is extremely important. By understanding customer insights, you will know how to build an effective business strategy. Customer insights will include factors such as: age, gender, living area (where you plan to distribute a large number of products there), interests… Outlining customer insights in a specific and detailed way means that you have succeeded in the first step on your health drink brand business journey.
Identifying the right customers will minimize redundant advertising costs
5. Register trademark as soon as possible
Copyright registration for your brand is extremely important, especially when you want your business to have a foothold in the market. You can register your trademark at the National Office of Intellectual Property of your country. Here, you will be guided through the necessary procedures and documents to make an application for registration.
Remember, the brand name you choose should not be the same as any major registered trademark. In addition, the brand name should also be short, easy to remember, easy to pronounce and especially associated with the product you choose to do business with.
6. Don’t forget to register for tax
If you want your business to be legalized, apply for a business tax identification number. This is an extremely important step for you to pass all stages of product quality inspection, transnational freight later.
7. Prepare a variety of payment methods
In addition to doing business, you also need to prepare a variety of payment options. You should set up multiple bank accounts to facilitate future transactions. In addition, you should also register for international payment methods to facilitate cross-border transactions later.
Prepare multiple payment methods to make transactions more convenient
8. Set up business accounting
You should also have a plan to record expenses and revenue to control the business performance of your business. Accurate and detailed recording of income will also help simplify your annual tax return.
9. Business license registration and necessary documents
Another extremely important requirement for businesses is a business license and detailed documents and records about your business. This not only helps you ensure the legal safety of your business, but also helps increase your credibility when working with major partners in the domestic and foreign markets.
10. Sign up for business insurance to minimize losses
Today, there are many types of business insurance that you can choose from. Each type of business insurance will have different compensation levels, or incentives, benefits. But in general, using business insurance will help you avoid a lot of risks when incidents and damages arise.
Business insurance helps you minimize risk costs
11. Build brand awareness
How do you want customers to remember your brand, and build your brand identity the way you want? The brand identity factor will be determined by the logo, beverage packaging design, slogan… and sometimes even the name of the drink you choose.
Among these factors, pay special attention to the brand logo and product packaging. These will be the two main factors that determine whether customers can distinguish your brand from other health drink brands? Drink logos do not need to be too sophisticated, but must be outstanding, easy to remember, eye-catching and include the meaning of the brand name.
For packaging, choose an eye-catching color packaging template, simple design, easy to visualize the composition of the health drink. In addition, the choice of packaging is also quite important. Currently, environmental factors are of top concern. Therefore, choosing a drink packaging model made from “green” materials, friendly to nature, easy to recycle but not too expensive is also a smart decision.
In addition, marketing style is also a way to help customers remember your brand with distinctive, outstanding features and not be confused with any other similar products on the market. Build a successful brand identity, you will get the correct answer to the question of how to start a health drink business?
Packaging design plays an important role in attracting customers
12. Create business accounts on social networking platforms
A cross-platform marketing strategy is a smart marketing strategy. Take advantage of all the most popular social platforms today such as facebook, instagram, tiktok, youtube, website… to promote your health drink brand.
However, you do not need to be in a hurry to choose to market on many different platforms at the same time. That will make your budget too much for ad spending and not enough capital for the stages in the production process.
Choose one or two of the most popular marketing platforms in the country where you want to promote your products widely. Each country will have different widely popular social networking platforms. You don’t have to spend money to advertise on Facebook if customers in your target country love to use Instagram, Snapchat… Once you’ve determined which social media platform will be used for marketing, you’ll also need to create an advertising account that’s personally owned by the social networking platform. This will keep your ads from being disabled for the duration of the activity.
A flexible selection of social platforms based on customer tastes will help you Smarter and more optimized marketing strategies.
Social media platforms make advertising easier
This way will help you save maximum advertising costs but still earn profits in the most favorable way. In addition, you can also try to refer to free marketing methods by creating a certain trend, or using the butterfly effect in customer perception. This method will be extremely useful if you understand how to use them.
You also need to remember to stay away from negative marketing practices, which will make customers upset, hate and even boycott your brand as soon as it is introduced in the market. You wouldn’t want your business to go bankrupt right from the start, would you? Then don’t try to create drama to promote your product in a crude way.
13. The hotline system is indispensable
Hotline is also the last thing for you to decide whether to order for your business or not. Please choose a hotline number that is easy to remember, there should not be too many similar numbers in a series of numbers, many similar numbers repeated in a row will make customers easily confused, extremely uncomfortable. Get an international phone number to facilitate cross-country communication. Do not forget to prepare many different communication methods so as not to miss any customers or business partners.
Hotline helps you connect with customers faster
Above are 13 tips on how to start a health drink business that will surely help you in business success. If you are hatching a health drink business plan, don’t be afraid to try to make your dream come true. Business is a long way, no matter how big your ultimate goal is, prepare carefully from the smallest things.
Always have a backup plan for any bad situations that may arise. Risk is something no one expects, but if trading without risk, it is not a potential market. Therefore, start building your brand carefully every step of the way. Check out the tips in this article to help you navigate more accurately and efficiently. Wish you success and great development in the future with your business career.
Tan Do is a global beverage ODM/OEM manufacturer and supplier located in Vietnam. Since 1996, we have built trust and credibility not only throughout Vietnam but also in many parts of the world. Leveraging state-of-the-art technology, we have crafted thousands of products that align with ISO, HACCP, HALAL, FDA, and many other standards.