Capitalizing on private labels

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Reading time – 2 minutes

Last week we talked about which products were more likely to bring about a financial empire. Those also happen to be the ones that can be launched really quickly by leveraging private labels.

Definition time

private-brand-2-638

That’s a really complicated way to say that you take a product that’s already made and put your name on it. You’ve probably bought them without even realizing; Citidia, Casino, Safeway Select, No name, President’s choice, Sam’s choice, JC Penney etc. are all private labels.

So how do we go about building a private brand – aside from using Alibaba wholesalers ? Get the barcode and type it in here, you will get all the information you need.

You can also use the GS1 website for a more comprehensive list (100+ countries). Africa, Asia and the Middle East work somewhat differently but if you can’t use a barcode, you can usually find the manufacturer’s number on the back of the product.

Next week, we’ll talk about the cycles a business goes through. Stay prosperous family!

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