So you have started your local business and completed all the necessary steps to operating legally. You have carved out your niche in the market and things are looking up. But there comes a time when more is needed, and an even bigger market needs to be impacted by your products.
Cosmetics are a big hit these days. Especially those that are made of natural ingredients, like Your True Shade, which prides themselves with enhancing beauty without compromising health.
“I was a student and it was very difficult for me to find make-up and take care of my skin. So with my background in Chemical Engineering I started making my own products, got the products tested and that’s how the company was born” said Dianne Plummer, CEO, Your True Shade Cosmetics Limited.
Since the company’s inception 3 years ago, Plummer highlighted that “…We have been getting traction and we have received a few awards for the brand… these accolades augur well for all the plans we have in 2019 in terms of broadening our scope…”.
But how does a natural cosmetic business such as Your True Shade achieve a win/ win situation by building their customer base locally and internationally?
Manager of the Sales and Promotions Support Unit at JAMPRO, Ricardo Durrant, says business owners must seek to tap into and enjoy the benefits to be derived from being a part of the export market.
“Once you become export-ready it means you are in a position to broaden your market… No longer would you just be supplying the Jamaican market but you now have a wider market in the Caribbean, which is estimated at around 15- 40 million persons.”
Durrant said once an entrepreneur is able to garner those markets, production can increase and manufacturing costs lowered,“When you produce greater volumes and lower your unit costs, you become more competitive over time.”
Importantly, Durrant added that local companies that tap into the export market earn foreign exchange.
“Considering the fluctuation of the dollar, there will be times when you need to bring in material to mix with the local material and it is very helpful when you are able to access the dollar yourself,” he stated.
At Your True shade one can find loose powder, foundation in a myriad of shades, facial cleansers, moisturizers, primers, chemical peels among a host of other products all organically made.
We are changing the beauty game by using ingredients that are not going to cause hurt and we are going to be key players in the global market,” asserted Plummer.