Coconut oil, an extremely useful and healthful natural product of the coconut industry. Coconut oil can be used to fry foods at a low temperature, flavoring savory foods like rice and meats as well as in sweets, pastries and drinks. It is also an excellent moisturizer for dry skin and a good leave-in conditioner. Many different kinds of products can be created using coconut oil but you will have a great deal of competition among the health food and supplement industries.
Create a business plan. Coconut oil is a unique product that is attractive to particular niche markets: health food and supplements, and ethnic products. Decide the type of products you will create.
Research your intended market, product line and competition. This will help you decide whether your intended business is a financially worthwhile endeavor.
Make a marketing plan. Address how you will convince the already saturated health and ethnic product markets to buy your coconut oil products. You should also address the type of products you plan to sell, where you will sell them, to whom and for how much. You should also know how you will be paying for startup costs.
Design a product line. Decide what kind of products you will create: food, drinks, supplements, hair conditioner, lotion, or other products that contain coconut oil. Some products will sell better in some areas than others. Know who the customers of your particular products will be.
Create advertising supplies and packaging for your products. You may need the help of a professional graphic designer or marketing firm to create them as packaging and advertising will be the major avenue for sales. You may also consider setting up a word-of-mouth rewards programs for early buyers who convince others to purchase your products. These rewards can come in many forms including coupons and rebates.
- coconut image by Maciej Mamro from Fotolia.com