Interested in starting your own entrepreneurial journey in fragrances but unsure what to expect? Then read up on our interview with Michael Sab, Founder of ALT. Fragrances, located in Miami, FL, USA.
What's your business, and who are your customers?
We are reinventing the fragrance industry to benefit consumers and allow you to experience some of the most luxurious scents in the world regardless of your budget by developing premier Alternatives to overpriced luxury fragrances and eliminating the 'Brand Tax' consumers are accustomed to paying. Our customers are anyone who is tired of paying designer markups for their cologne or perfume.
Tell us about yourself
I started ALT. Fragrances during my freshman year of college at Indiana University. I loved Creed Fragrances, but being on a college budget simply not afford nor warrant spending over $400 on a bottle of cologne. I started to research alternatives, and there were none available on the market at the time. This was when I began to learn more about the fragrance industry and just how cheap the fragrance is compared to all of the other additional markups that come along with the cologne and perfume consumers love. I'm motivated every day by the fact that I am able to bring scents people love at a price they can afford so they can feel like the best versions of themselves.
What's your biggest accomplishment as a business owner?
My biggest accomplishment is creating a brand that is not only recognized globally but is also known for delivering high-quality and innovative products that resonate with our customers. Additionally, our company's commitment to ethical and sustainable practices has helped us to build a loyal customer base and a positive reputation in the industry.
What's one of the hardest things that comes with being a business owner?
Some of the hardest things that come with being a business owner are managing inventory and production costs, navigating complex regulations and certifications, and building brand recognition and customer loyalty. Additionally, keeping up with our high level of growth makes all the aforementioned more challenging.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Build a strong network. Connect with mentors, advisors, and other entrepreneurs who can offer guidance, support, and potential partnerships. Attend industry events and join business organizations to meet potential investors, customers, and collaborators. A strong network can provide valuable resources and insights that can help grow your business and lead to greater success.
- Obsess over your customer and their experience: From the early stages of development, prioritize understanding and meeting the needs of your target customers. Your ability to create and deliver value to your customers will be the foundation for any business's success.
- Recognize you're not the best at everything and Build a strong team: Surround yourself with talented and dedicated team members who share your vision and can help you execute your plans. Hire complementary skills and expertise, and be intentional about building a culture of collaboration, communication, and innovation.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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