This project is based on the assumption that we are going to sell our own private label product.
What is a Private Label Product?
A private label product is an existing product that we slap our brand / label on. This can be in the form of simply adding our logo somewhere on the product. Or creating a kickass package design for our product.
Why is this great?
There is already a demand for the product.
Since we are not creating 100% unique products we already know there is a demand for our product. We can analyze the demand, as we did in the Product Research module, and make on our decision based on this.
Easy to manufacture
We won’t have to deal with creating product CAD files and building a product from scratch. The suppliers we will be contacting are already familiar with creating our product, which will make it easy for us to manufacture our product.
However, this does not mean we can’t customize our product. In most cases, it is a very smart idea to customize your private label product to make it stand out.
Is everybody on Amazon selling blue monitor stands? Well, this is your chance to customize it and create a bright red monitor stand to make sure it stands out!
Is everybody only selling 2-packs of ping pong balls! Time to create a 4-pack!
These are all very easy options to customize our product, without making our job to manufacture it too difficult.