Imagine transforming your passion for fitness into a thriving business. In the booming health and wellness industry, pre-workout supplements are in high demand. If you're driven by both entrepreneurship and a desire to help others reach their fitness goals, launching your own pre-workout company could be your next big move.
The fitness and pre-workout industry is growing fast. If you can adjust and cater to health-conscious consumers' needs, you'll be on track for success. Below are the top steps to create a thriving pre-workout supplement company of your own!
In this detailed guide, we’ll take you through:
- Researching the industry and finding your target audience;
- Creating a secure business plan and getting financing;
- Building your brand from the ground up;
- Marketing your business and maintaining a presence online;
- Managing the day-to-day operations;
- Hiring and determining success and necessary improvements.
Continue reading below to learn more about how you can create your own supplement brand and thrive in the supplement industry.
13 steps to creating a successful pre-workout company
Give me six hours to chop down a tree, and I will spend the first four sharpening my ax.
The 16th president knew the deal. Any successful business starts with making a plan and determining your business goals. What are your long-term objectives? What's the product that you want to produce and why?
Once you decide, you can start creating a clear mission for your business.
1. Identify your target market
Before you begin, make sure to identify your target market. It’s important to figure out who your customers are before creating your brand.
According to fitness industry analysts at the International Health, Racquet, & Sportsclub Association (IHRSA), the global fitness industry has been growing steadily at almost 4% annually over the last decade. Because of this, health-conscious consumers have more access to health products and supplements than ever before.
With all the options on the market, it’s important to niche down to your ideal customer. Rather than chasing after every possible customer, you should focus your marketing resources on your target audience. This will give you more chances to attract them to your brand.
Start narrowing down your ideal customers by asking yourself these questions:
- Who is your ideal customer?
- What are their pain points?
- How can you solve them in ways other companies can’t?
- Are they weekend warriors or health-conscious gym goers?
- Do they prefer products oriented to an active lifestyle, or are they looking for performance gains?
Once you answer these questions, you’ll be able to hone in on making your brand unique and effective. Your goal should be to stand out from the generic gym supplement business brands.
2. Research the pre-workout industry
The next step is understanding your competition. Research brands and products that are dominating the market. Get to the bottom of how they do it.
Pay attention to what your ideal customers are consuming. See who's targeting your ideal customers. Find out what they like and don’t like about the products and see if you can fill those gaps.
Finally, make yourself familiar with industry regulations. Study the licenses for selling supplements to make sure your products will comply with all laws and standards.
3. Find out what type of products you want to sell
Choosing the right products to sell is crucial, regardless of whether you sell pre-workout supplements or even private label skincare. For a pre-workout company, decide if you’ll sell dietary supplements, whey protein, protein powders, custom formulation supplements, or create an all-natural supplement line. Choose between a general pre-workout formula or find a niche, such as vegan pre-workout supplements.
What you sell depends on who your target audience is and what they need. This is why it’s important to first research the pre-workout industry and identify your target market.
4. Develop a business plan for your pre-workout company
Trust us. You don't want to get your products manufactured only to have them sitting on the shelves collecting dust. Start your business off right by creating a solid business plan!
According to the Harvard Business Review, entrepreneurs who form a business plan are 16% more likely to succeed compared to their non-planning counterparts. Your business plan is like a guide. It’s a way to look 3, 4, or even 5 years ahead and plan for what’s coming next. Plus, having a plan gives your business more credibility to investors.
A winning business plan should include the following:
- An executive summary. This is a detailed summary of your business and its goals.
- A description of your company. This is the section that explains what you do and why you do it.
- A description of your product. This section tells people what you’re selling.
- An analysis of your target market. This is where you flex your business muscles and show your industry knowledge.
- A marketing strategy. List your operating costs, distributions, and how you’ll reach your customers.
- A financial plan. This section breaks down the cost of starting a supplement company and your business's current financial standing.
An easy-to-follow business plan is a roadmap to success. With it, you’ll stay organized as you grow.
5. Secure financing for your own supplement company
You don’t have to be born with a silver spoon in your mouth to start a successful pre-workout business. That said, you’ll still need to secure financing or find ways to operate on a budget. While securing financing for a brand-new business can be challenging, there are plenty of options nowadays to make starting a supplement brand affordable.
First, figure out how much money you’ll need for your business expenses. Depending on your business model, you may include things like rent, advertising, shipping, and licenses. If you choose to sell private label supplements instead, you only have to worry about marketing your products. Supplement licenses, inventory, and shipping logistics will be handled by the private label supplement manufacturer.
6. Choose the right business structure for your pre-workout company
Structuring your pre-workout company the right way is crucial for legal and tax purposes. When deciding which business structure works for you, you’ll want to keep 3 things in mind.
First, realistically consider how big you want your business to get. Some business structures allow you to grow more easily than others.
Next, think about what type of funding you’ll need. Financially speaking, some lenders see sole proprietorships as riskier ventures and less beneficial to fund.
Finally, talk to a tax professional to see which business structure works better for your taxes.
The most common business structures are:
- sole proprietorship;
- partnership;
- limited liability company (LLC);
- corporation.
Each one has its own advantages and disadvantages, so it's important to research each option before you make your decision.
7. Decide between a physical location or an online store
For your business, you can choose between selling supplements online or setting up a physical location. Both have their benefits and drawbacks.
If you plan on making your pre-workout company a brick-and-mortar business, then it's important to choose the right location. To do so, you should:
- Consider the size of the space you need.
- Make sure your supplement company is close to your potential customers.
- Make sure your space has available parking.
- Follow all zoning laws when selecting a space for your business.
- Shop around to get the best deals on rent.
If a physical store doesn’t sound appealing, don’t worry. Some of the most successful companies run entirely on online sales.
8. Get licenses and permits for your own supplement line
With any business in food and health, you’ll need to get certain licenses and permits before launching your pre-workout company. Which ones you need depends on where you’re located.
First, you’ll need sales tax permits. These permits give your business the right to collect sales tax on the items you sell.
Next are food processing permits. All businesses that package and sell food products will need these permits.
Last but definitely not least, are your business licenses. Each state has its own rules, so do your research to find out which type of license you need in your local area.
9. Create a supplement brand identity
In 2024, it’s more important than ever to create a brand that your customers resonate with. The world’s largest corporations have taken this to the next level. These business giants sell more than just products, they sell a lifestyle.
One way to produce great pre-workout products is to find a private label manufacturer that knows the supplement industry in and out. With their help, you can develop a unique packaging, logo, and even a custom formulation for your supplements. Selecting an eye-catching color palette helps make your supplement packaging hard to forget!
From here, establish a consistent brand voice. By doing this, you’re creating a recognizable brand that will solidify your supplement company as a new force in the industry.
Finally, secure your presence on social media and create content that resonates with your potential customers. This will secure your private label supplement business in people’s day-to-day lives.
10. Set up a marketing plan for your pre-workout company
As a gym supplement business owner, you’ll have to do a lot of market research to find the right pricing structure. You’ll also need to find out how to attract customers who will be loyal to your brand. That’s where a good marketing plan comes in. Depending on your target audience, you’ll need to find out what will work for you.
Below are the most common traditional and digital marketing tactics:
Email campaigns
Email campaigns are some of the most effective marketing tactics around. Some email marketing tools create an email opening rate of over 34%, making them a very effective online marketing tool.
Influencer marketing
Influencers are the backbone of social media marketing. As of 2024, there are likely over 50,000 fitness influencers on Instagram, making them a valuable tool in your marketing plan.
Social media advertising
Because there are so many people on social media–we're talking billions–it’s little surprise social media advertising should be on your to-do list.
Search engine optimization (SEO)
If you own a website, a blog, or do online sales, you’re going to want to optimize your site for SEO. By doing so, your website will rank higher on search engines like Google.
Social media reviews
Around 98% of consumers read online reviews before making a decision. No matter if your business is featured on Google or a blog, getting the public to review your products can be a tremendous boost.
Content marketing
Whether you like to create videos or articles, content marketing is a great way to reach potential clients. You can create marketing materials such as newsletters, listicles, YouTube videos, and more.
Print ads
Even though we’re in the digital age, there are still plenty of printed magazines sold around the world. Additionally, consider using print ads in gyms or similar fitness-oriented venues as marketing strategies to reach your intended customers.
TV and radio ads
Believe it or not, people still watch TV and listen to the radio. However, before investing in TV or radio ads, consider your targeted demographic.
11. Create an online presence for your pre-workout company
We live in a digital world and even if you run a brick-and-mortar store, you'll want to build an online presence if you want to succeed in the fitness industry. Set up an engaging and easy-to-use ecommerce website for your fitness products. Make it user-friendly and design appealing pages for your products, shopping carts, and contact forms.
Keep your business engaged on social media platforms like Facebook and Instagram. Also, don’t forget about TikTok. As of May 2024, TikTok has around 1.04 billion active monthly users and is projected to keep growing. You can even promote your products directly through social media marketplaces like Instagram Shopping and TikTok Shop.
12. Manage your day-to-day operations and look for help
When you’re just starting out, you’ll have a lot on your plate, like registering your business bank account, figuring out marketing efforts, and more.
Be prepared for some of the most common daily tasks you’ll need to do as a business owner, including:
- managing inventory;
- keeping products available;
- tracking orders;
- marketing your online store;
- managing customer service inquiries;
- invoicing;
- and tracking sales taxes.
With all these tasks, nothing helps a busy entrepreneur more than delegating work to the right people. When your business is off the ground, you may need to hire employees or work with freelancers to assist you in the day-to-day operations.
Figure out what positions you need help with and look for qualified people who can do these as well as you or better. Choose candidates who fit your brand's culture and believe in your company. Also, make sure you follow legal requirements such as workers' compensation, insurance, payroll taxes, and good working conditions. This way, you'll ensure compliance with the laws as your business grows.
13. Evaluate your pre-workout company’s success
Once your supplement company is up and running, it's important to pay attention to what’s working and what’s not. By doing so, you’ll stay ahead of your competition and be able to adapt.
In this stage, you want all the data and feedback you can get. Make sure to:
- Analyze your customer feedback and assess your marketing strategy;
- Track your revenue growth over time;
- Review inventory levels and sales numbers;
- Measure website analytics;
- Identify areas of improvement.
With this, you can adjust your strategy and focus on strengthening your brand.
Remember, there’s no such thing as bad feedback! Learn, grow, and keep building your business.
If you're ready to take the next steps in creating your dream pre-workout supplement brand but would like additional guidance, consider enrolling in Supliful Roadmap–a definitive online course for building an ecommerce business.
FAQs
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