Understanding the feasibility of a business is crucial in anticipating the success rate of the establishment. But how are we supposed to know which factors are needed to consider? Here we gather the answers to the common FAQs about running a business in the beauty industry that would prevent you from going through lapses.
What are the documents and requirements needed in registering a business?
Owners should complete the registration form containing their details and business information. You need to be at least 18 years old and must be a Malaysian Citizen or Permanent Resident of Malaysia to apply to the Registrar of Business. According to The Companies Commission of Malaysia, you would need to attach the following:
- Permit, license, or supporting letter for the type of business
- Approval or Supporting Letter from the relevant agency (if required)
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What branch or agency should I contact to notify my cosmetics products?
As per the Forest Institute of Malaysia, cosmetics business owners should notify the Director of Pharmaceutical Services (DPS) through the National Pharmaceutical Control Bureau (NPCB) before manufacturing the products. NPCB is an administration to the DPS, responsible for the cosmetic product announcement.
Are there regulations in labeling my products?
Persons responsible for labeling cosmetic products should comply with the requirement defined in Annex 1, part 7 for Cosmetic Labeling Requirements. The details on the product should be written English and/or Bahasa Malaysia.
Should I consider digital platforms and e-commerce?
Yes. With the assistance of digital platforms, marketing cosmetics has grown exponentially in recent years. It has taken the beauty industry connected to all parts of the world, defying beauty standards through considering different cultures. Moreover, since current generations are with visual campaigns and promotions, beauty brands shift to e-commerce to capture their attention.
Which kind of campaign best works nowadays?
Content marketing and social listening. Distributing relevant information would attract customers in clicking on inscribed links and related content. Moreover, serve what you think that your target audience would need. For instance, tutorials and “how-to” articles. Include professional advice and truthful answers to queries.
Maximizing the brand’s presence on social media platforms would build a reputation. However, not all tactics would induce fascinating results, you just need to generate concrete and consistent approaches.
What should I avoid while promoting my products and services?
Although business ventures comprise fun experiences and learning, some mistakes would cause your downfalls. Here are things not to do when advertising your brand.
- Skipping research and testing of your products before selling them
- Wrong labels and positioning of information. Most customers check the product’s details before confirming. So any mistakes in your item would cause suspicions
- Inconsistent brand identity and approach to customers
- Not tracking performance, not keeping records and business insights for transparency
- Failing to converse with loyal customers and potential buyers. While you devote your services to existing consumers, make sure to extend your reach
- Unwillingness to invest in ads and campaign projects
What are the practices of a good manufacturing process?
The most reliable dealers and manufacturers are the companies associated with global platforms and international traders. They cater to customizations professionally while offering you the most beneficial deals. The best manufacturers would ensure you have completed business requirements and legal approval letters.