Office Space Expenses

$0

$7,000

Employee & Freelancer Expenses

$151

$352

Website Costs

$223

$7,215

Business Formation Fees

$600

$4,700

Equipment & Supply Expenses

$66

$700

Retail Business Expenses

$1,250

$11,650

Inventory Expenses

$50

$9,750

Advertising & Marketing Costs

$75

$5,286

Software Expenses

$162

$2,745

Food Business Expenses

$25

$500

Total Startup Costs

$2,602

$49,898

Saje Natural Wellness

saje.com

68,515

vitruvi

vitruvi.com

117,898

Aroma Tools

aromatools.com

311,334

Guru Nanda

gurunanda.com

345,725

Your Oil Tools

youroiltools.com

397,638

Frankie and Myrrh

frankieandmyrrh.com

413,127

A.G. Industries

pureoilsindia.com

519,695

Essential Oils Company

essentialoilscompany.com

636,223

Aroma Outfitters

aromaoutfitters.com

769,773

Butterfly Express

butterflyexpress.shop

1,088,034

Los Angeles Oils And Butters

losangelesoilsandbutters.com

1,166,798

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Meaningful business connections

You never know who you will meet as a essential oils business. This could be the start of an incredible business opportunity!

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Easy to encourage "impulse buy"

In the essential oils business, you have a much higher chance of encouraging your customers to buy on impulse - you can easily alter the price, placement, packaging, and promotional value to influence the decision of your buyer.

Gain exposure and experience

This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!

Unlimited income potential

With starting an essential oils business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Longer Sales Process

A essential oils business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.

Low margins

The gross margins for your essential oils business are typically around 28%, which can make it more challenging to incur new expenses and maintain profitability.

High employee turnover

In the essential oils business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.

Taxes

As a essential oils business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

Niche Market

A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.