New vitamins webstore takes on $120m market
The New Zealand vitamins market is estimated to be worth around $120 million and Tauranga-based Dr Shaun Holt has launched a website to get a share of that.
The website allows browsers to research natural supplements for particular ailments and then purchase them online.
Dr Holt says the website has advice for many common conditions including high blood pressure, depression and arthritis and each order is packed into daily sachets to avoid confusion and hassle.
He adds the website uses a medical model for the sale of vitamin supplements.
All the products sold on the website come from Australasia and are approved by Medsafe.
Dr Holt says that while there may be an economic slowdown, people will hopefully buy from the website because if you are buying more than one supplement it is cheaper.
“Richard Branson would say it’s the best time to set up a business,” he says.
“It could absolutely fly or it could bomb,” he admits. “If it makes a profit I would be absolutely delighted.”
But Dr Holt is positive the website is what people are after – his free newsletter about vitamin supplements and a book he wrote last year have both been huge successes.
He says the vitamins market in New Zealand is worth $120 million and he estimates it could be worth way more.
“I keep hearing from people that they want to take something but they don’t know what to take.”
And just a day after the website went live and without any advertising it has already had a couple of orders.
While Dr Holt and the website is based in Tauranga, the orders will be filled by Pharmacy Direct in Auckland.
And although the website is still in its infancy, Dr Holt already has ideas for further expansion of the business.
He would like to expand into pharmaceuticals so people can have their medicines packaged along with their vitamins in one sachet. As well, he hopes to open a Vitamin Lab concept store in Tauranga and has plans to partner up with a as yet unnamed Kiwi to launch the website concept in the UK, US, Canada and South Africa.