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

$350

$14,750

Advertising & Marketing Costs

$75

$5,036

Software Expenses

$150

$2,420

Total Startup Costs

$2,865

$46,823

Swanson Vitamins

swansonvitamins.com

16,035

Native

nativecos.com

38,209

Pharmaca

pharmaca.com

56,435

Prohealth

prohealth.com

77,943

Nature's Sunshine

naturessunshine.com

96,441

Natural Healthy Concepts

nhc.com

104,029

Brain & Health Supplements

brainmd.com

123,055

Welcome to the Natural Medicines Research Collaboration

naturalmedicines.therapeuticresearch.com

135,057

TRC Healthcare

therapeuticresearch.com

139,823

Nature's Way

naturesway.com

150,002

Ayush Herbs

ayush.com

163,887

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.

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

Meaningful business connections

You never know who you will meet as a natural health product 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.

High margins

The gross margins for your natural health product business are typically around 65%, which is considerably high and allows you to grow your business and manage costs easily.

Easy to encourage "impulse buy"

In the natural health product 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.

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 natural health product 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.

High employee turnover

In the natural health product 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 natural health product 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.

Time commitment

With starting a natural health product business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.