1. Keeping internal costs down.
Though it can be a big investment at first, having your own brand actually ends up saving you lots of money. Once you’re producing & manufacturing your own product you can reap additional monetary benefit since there are less hands in the pie. You can then reinvest into the brand itself eventually coming out on top with higher margins.
2. Quality control & the process.
If you feel you can be more efficient in the manufacturing process, the decision will be yours not someone else’s. Think about it, if your selling doughnuts from a 3rd party company or even getting directly from the manufacturer, you can make a good profit but you have no say on the process or quality of the product. If you want to add more flavors or cut down on the sugar level it’s now in your control. Industries change from time to time but you now have the control to make those decisions and adapt accordingly.
3. Competitive pricing.
You can offer a better price which benefits the consumer and allows a business to stand out. When you outsource, in order to turn a profit you need work with the margins you are given. When you use your own brand you can always look for ways to be more efficient and save on cost which will essentially bring down the cost for consumer. A great example at The Boxery is our price on our in-house brand of LUX Tape compared to the other general brands. By purchasing LUX you are getting a recognized name, lower price and quality that can be trusted.
4. Brand recognition.
Now you’ll have a brand of your own. Your consumer will recognize you as both a distributor but also as an authority in that particular industry. You’re not just sending the product, you are the product. Branding in general plays a major role in any company. We’ll post more about that soon.
5. Customer Service.
If there is a problem or complaint about the item, you are in control. If your consumers are asking detailed questions you’re now in a position of getting those answers and providing them with confidence. Being able to give a consumer the highest satisfaction possible is a very valuable asset.
6. Wholesale Accounts.
Now that you have a product you can also offer it to other exclusive retailers. It can help you gain higher prices and more brand exposure. At the same time many in-house labels want to remain private and exclusive so it really depends which market you are trying to get into and how you want to build your brand. Our LUX mailers and all of our LUX products are sold with confidence by The Boxery