Even though there may exist a great demand for a product or service, success is not ever guaranteed in business. Sometimes the choices made by people starting out in an industry can lead to their quick downfall, in other instances companies that have been working in an area for a long period of time may grow over confident, start making too many assumptions about their clients and eventually fall from the top. The essential oil industry is a fairy new one in the USA, but one with amazing potential. Many business men have already made a small fortune, or on the path to doing so, while other are going to struggle to stay afloat. Knowing as much about the business as possible is always the best protection against the problems that may arise in the future. Below is a list a list of two different problems that may harm an essential oil company, as well as possible solutions for each problem.
- Lack of stock can always be an issue hiding just around the corner that can damage an essential oil company badly. In the essential oil industry, there are times when sales are steady, when from week to week you only sell a certain number of oils and you have enough left for possible extra sales. There are other times when you get slammed with orders, when people ask for oils by the boxful, and if you get swept up during a moment of oil craze without enough product, it could damage your reputation and drive customer to look for other dealers. Every time a doctor on a daytime talk show mentions treating a breathing problem with an essential oil diffuser as a cure for some ailment, or that a health magazine publishes an article about certain oil’s benefits, people start to really buy up all the oils they can find. Sometimes these sudden bursts of sales can be detrimental to a company, if they are not able to meet the demand. For web based companies like planttherapy.com, the demand that can occur when aroma therapy gets some media coverage, are easy to deal with because they have ample space for stock, but for smaller shops the challenge may be harder to deal with. A sound piece of advice for the small time oil dealers would be to rent a small storage space for their oils, so that in the case that there is a sudden jump in sales, they don’t get left behind. Remember, oils don’t go bad; so long term storage is never an issue.
- A lack of good advertising can also be the downfall of an organic essential oils Some people that work in an area like alternative medicine, might think that the industry is very relaxed and organic, that they don’t need to keep up with all the usually demands put on companies in the sales world, yet that doesn’t apply to the sale of essential oils. Just as with any business, if you want it to grow then you had better develop a good advertising strategy.