More and more people are turning towards alternative medicine for healing and wellness. One of the most popular areas of the holistic approach is herbal medicine and starting an herb business can help meet this growing need. If you are passionate about herbalism, starting your very own herb business may be the next logical step if you’ve always dreamed of being your own boss in something you are passionate about. But what goes into starting your own herb business? Here are 6 tips on how to start your own herbal business.
1. Are You An Entrepreneur?
Sure not everyone is meant to be an entrepreneur but there are far too many entrepreneurs who comfortable being employees because they are afraid. You need to ask yourself if you are meant to be an entrepreneur and not let fear decide what you do with your life because branching out on your own can be very scary for many people.
You also don’t need to know everything or plan for everything before you start a business. The future will always be the great unknown but what you do today is the only way you can change your future or continue to let your past be your future if you don’t take a chance.
The only thing you can do is trust yourself. Trust yourself to try many things some of which will succeed and some of which will fail but as long as you continue trying, you will always win since you will get to develop the experience, skills and knowledge that will be invaluable in whatever endeavor you choose to get into.
Determine your first steps and get started. Even if you don’t have everything you need right now or know everything, you will figure it out.
2. Get The Training
You may have read some books, your mom, grandmother, etc, may have taught you about some herbs, but it doesn’t hurt to enroll in some form of training program to become an herbalist. Gaining knowledge and experience in herbalism is very important if you want to embark on this path. Sure, you won’t know everything and learning will be lifelong but getting the initial training out of the way will ensure a great start.
3. Determine Your Niche
The herbal industry is very diverse and sure you can be a jack of all trades but determining your niche will give you a better chance for success. Some niches to consider as an herbalist include but are not limited to ;
- Creating or sourcing your own products to sell which may include herbal teas, oils, tinctures, decoctions, beauty products, powders, spices, etc.
- Growing the actual herbs and spices to sell for use in the creation of herbal inspired products by other businesses.
- Becoming an alternative medicine teacher.
- Starting an alternative medicine practice and having your own clients but do make sure that you consider the legalities and the sort of licenses and accreditions you need to open an alternative medicine practice.
4. Product Formulation
If you decide to create your own herbal products, you need to have some idea on which ingredients are illegal for use (which may vary from one country to the next), how ingredients interact, which ones work well together and vice versa, storage concerns, use of preservatives (if any), etc. This will also be a chance for you to develop your own special herbal recipes. Even if you have a “secret” recipe, you also need to consider labeling as ingredients used will still need to be noted on the label.
5. Sources for Your Ingredients
If making your own products/formulation, you will need to determine whether you will grow your own products or if not, what suppliers you shall use. This should also be a great way to support local farmers even if you may need to obtain some ingredients internationally.
No matter how great your products and/or services are, in many cases, marketing can either make or break your business, so this is something to properly plan for. There are many marketing mediums to use including the very popular and effective social media.
You also need to consider what claims you can make about your herbal products and services to prevent legal trouble. You need to look into how herbal products should be marketed in accordance with regulations.
There are many more tips and info on how to start your herb business than what is covered here including more on the business related side (sole proprietorship, LLC, etc, trade name, registering your business, etc).
If you are passionate about herbalism and starting your business, it is important to start now. Get the training your need and info you need on starting and running a business. You may want to consider the Entrepreneur Herbal Course from the Herbal Academy which not only trains you in herbalism but is also geared towards those who want to start an herb business selling their own herbal products by teaching you about the business aspect of this industry. Click here for more on this program.
Unfortunately, as the saying goes, it takes money to make money and if you need financial help to get started (unless you have it like that), you may want to consider Kabbage which unlike traditional lending institutions does not have stringent rules to get approved for a loan and you usually have a decision within minutes. Kabbage is designed to enable small businesses to get the necessary funding they need and you may be able to get up to $250,000. Click here to get funding for your startup herb business without the hassle involved with traditional lenders.
Let’s toast to your future success with your herb business!