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Would it be possible to do my initial research and product development while in school? Also with the new tariffs in place, would it be financially advantageous to create my manufacturing plant in a country residing outside of the United States?

Hi! My name is Renita, I also go by Rere. I am upcoming junior in the classroom (freshman on the court due to two season ending injuries) I want to start a 100% natural skincare brand within the next 5 years. I won't go too into detail since nothing has been patented or trademarked yet ( I am in that process). My question is in regards to the R&D expenses of my future business and outsourcing. I wanted to know since my biochemistry major grants me access to a lab and resources that I can use to create my formulations, would it be possible to do my initial research and product development while in school? Also with the new tariffs in place, would it be financially advantageous to create my manufacturing plant in a country outside of the United States?

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Jonathan’s Answer

Hello. Here are some practical steps you can take to move forward: 1. **Define the key features** of your product or service. This will help you understand what makes it unique and valuable. 2. **Identify your potential market**. Use the links provided to learn more about how to do this. 3. **Create your target market**. Focus your efforts on the people most likely to buy your product. 4. **Do a controlled launch** in a small city. This will allow you to test and fine-tune your strategy before expanding. 5. **Use analytics tools** and existing databases to expand your service globally or in specific markets. 6. **Think big** and work to make your product known worldwide. Finally, reflect on products that might be necessary based on your personal experiences (such as your injury). This could offer unique and valuable insights. Greetings!
Thank you comment icon Thank you so much for the reply! Renita
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Helaine’s Answer

Hi Renita,

You can definitely do research and development while in school, especially since you have access to a lab. Start by planning the details and creating a flexible timeline. Consider how long skincare development takes, the production and manufacturing process, and realistic budgets for testing, sampling, and production. Once your timeline is ready, set goals for each milestone. For funding, look into programs that support student businesses. This can help you move forward and finance your product. Keep in mind that tariffs and the economy are changing rapidly, so plan how long it will take to reach mass manufacturing. This could take 1 to 3 years or more, and economic conditions might change by then, affecting costs.
Thank you comment icon I'm excited to put your great advice to good use! Renita
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