Update: Ive been getting numerous messages regarding the status of my supplement company Nutraspire so I figured it was finally time for a public update. I actually shut the company down 8 weeks ago however I have every intention of restarting back up sometime this year after I make the necessary changes. As an entrepreneur who is willing to take risks and launch new companies, the first year is always a hard but valuable learning lesson. Ive made many mistakes and now I need to fix them. When I first started Nutraspire I was using a manufacturer out of Arizona but I fired them within two months for being absolutely miserable to deal with. Then I switched to a manufacturer in Ohio and things were going great for a while but then they became quite unreliable and had a difficult time getting enough raw ingredients to fulfill orders. This caused numerous delays on many of our top products and eventually I knew it was causing irreversible damage to the reputation of my company so I decided to fire them and shut down the website. With regards to the changes I need to make before relaunching, here are some that I have already identified: • find a more reliable manufacturer that can fulfill orders and meet demand as we grow • create two separate product lines: mens and womens • develop better proprietary custom formulas (however doing custom products means much higher ordering minimums requiring more initial capital, instead of 100-200 bottle minimums per product Ill have to meet 500-2,500 bottle minimums per product) • create monthly subscription plans for customers allowing them to choose which products automatically get delivered to their doorstep every 2-4 weeks, my old website wasnt setup to handle this • change the overall branding of the company including new website, new labels and new bottles • get more aggressive with marketing, especially on social media ie Facebook and Instagram • hire a couple sales people to sell into retail and other wholesale accounts Unfortunately in the world of business...changes cost money. Rather than just chugging along as before, I decided to shut things down and relaunch with better products, better marketing, and an overall better company for the long term. For anyone who was a Nutraspire customer, I truly appreciate your business and giving us an opportunity to meet your supplement needs. I promise when we finally relaunch youll be extremely impressed.
Posted on: Fri, 02 Jan 2015 19:52:15 +0000