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how to pay a formulator
Working on a startup natural product company, first product is already formulated. Creating a business vehicle to brand and promote this product but in the future we will have other products by the same formulator and others. Question is how to compensate the formulator for this special product that would not otherwise be available to be promoted. Interested in any relivant information, especially from experience. Also I’m confused about how varying levels of the formulators involvement in the rest of the operations will effect how and how much he is paid.
Thanks for your input! -
5 Replies
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I’m not sure what your business model is. Are you marketing cosmetics? Are you hiring formulators to make products then sell those yourself?
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I would strongly suggest that you pay your formulators generously and often
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I would think you would have arranged in advance how the formulator was getting pais for his work. Didn’t he tell you his fees?
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This particular formula was actually found and translated from a stone wall of an old civilisation, not much more I can say other than real life is stranger than fiction. Following the model others have used for formulating seemed to be the most reasonable thing to me, he is responsible for producing the formula so he has that in common with a formulator. Also we intend to introduce other products down the line, perhaps ones that actually have a living formulator to pay. I realise there must be a variaty of fee schedules formulators receive according to what they do on that project and what their experience is, so don’t be concerned if i should take what you say too literally as what I’m really looking for is a reference point, looking for what has worked/ is working for others.
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In my country a good formulator usually charges about USD3000 for just one product (of course it doesn’t include tests like SPF). It doesn’t seem too much for only one product, but a basic facial skincare line usually contains at least 10 products, so you have to pay about USD30000 just for the development of some products…
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