Fix their worst pain in the butt, and squeeze out an 8-figure exit in the hemorrhoid treatment industry, projected to reach $296.3 billion by 2027. Someone's got to do the jobby.
What do 1 in 20 Americans have in common? If you answered hemorrhoids, you either have firsthand experience or live with someone who does. Chances are good that you or someone you know will shop for hemorrhoid treatment options at some point. And if you're over the age of 50, the odds of getting hemorrhoids are the same as flipping "heads" or "tails."
But for the right entrepreneur - one who wants to build and own a brand that solves a huge problem - this is the kind of business that could lead to an 8-figure exit. There are some big players in this niche, but there’s plenty of room for new brands to jump in. Also worth considering: acquiring one of the smaller brands in the space and scaling it into the 8- and 9-figure range.
This niche could be perfect for you if you’ve got an audience (blog, podcast, YouTube, social media). Or, if you’ve got internet marketing skills. Maybe you’re naturally someone who’s got great ideas for solving problems. Or, if you’d rather sit in the owner’s seat and use your vision for this to pull together a team of investors, product creators, influencers, marketers, and operations people to build fast and exit soon.
Keep reading and you’ll see how you could leverage what you’ve got to build this business. Selling it for 8-figures is entirely possible - and it doesn’t have to take a decade to do it.
Let’s Put It on a Cocktail Napkin
Your success in this niche requires just a few things:
- A specific audience to serve
- A product line
- A sales channel (Amazon will do nicely)
And remember the formula for launching a million-dollar business:
Here’s the Trend
Dollar sales of the leading hemorrhoidal cream/ointment/spray brands in the United States in 2019 (in million U.S. dollars)*
Pay particular attention to the success of the private label brands above. (And yes, the graph is from 2019. But until someone comes up with a way to end hemorrhoids for good, the demand for products that give relief will only grow.)
How Big Is the Hemorrhoid Treatment Industry?
Curing hemorrhoids is a massive industry. This disorder is the fourth most common gastrointestinal diagnosis. Nearly 3.3 million people seek medical treatment each year, just in the US. An additional 10 million cases are self-treated.
That's just the people willing to admit they have experienced hemorrhoids. Some people are too embarrassed even to get help. Children learn at an early age how hysterical bathroom jokes are. So, it's no wonder many people choose to stay quiet and suffer in silence.
According to Credence Research, the hemorrhoid treatment devices market will grow to an impressive $963.1 million by 2026. Those numbers reflect only individuals who seek out professional care. The majority of hemorrhoid sufferers prefer to test out natural remedies and products first. Self-treatment at home is one reason why the global complementary and alternative medicine industry will reach $296.3 billion by 2027, as reported by Grand View Research.
What if you could alleviate the suffering of millions and turn those painful piles into piles of cash? Since hemorrhoids are a real pain in the ass, people will do almost anything to stop the symptom. And many want to do so without dropping their shorts in front of their doctor.
Who’s Your Customer?
Hemorrhoids, also called piles, don't discriminate. Just ask any woman who's experienced natural childbirth. Little did these women know that in addition to pushing out a cute, cuddly baby, they'd also give birth to a very painful hemorrhoid.
In addition to pregnancy, a ton of other natural events can lead to the formation of these painful piles. Constipation, diarrhea, and straining while going number two can all lead to inflammation and swollen veins around the anus. Being overweight, not eating enough fibrous foods, or even competing in a strongman contest are also common culprits. Pretty much anything you do could result in anal pressure or bleeding hemorrhoids.
Just a quick list of audiences who’d be all ears if you could help them:
- First responders
- People who stand all day for work
Hemorrhoid Treatment Product Ideas
Consumers are always on the hunt for over-the-counter remedies for a variety of ailments. Hemorrhoids are no exception. Depending on the severity of the situation, an individual may experience painful burning, constant itching, rectal bleeding, or even (you may want to sit down for this) fecal leakage.
No one wants to get stuck with these symptoms for longer than necessary. That's why natural treatments are in such high demand. The best part is, these remedies actually provide relief.
However, there's nothing fun about heading into your local drugstore to pick up a cart full of butt relief gels, lotions, powders, and potions. Those who do often try their best to avoid direct eye contact with the cashier. There's a certain stigma about anal health that no one wants to talk about in public.
So, how can you help these sufferers get quick, lasting relief? Remember, entrepreneurs are the best problem solvers on the planet. It's people like you who formulate a solution and make it accessible to everyone. When it comes to hemorrhoids, you can own the market with a brand dedicated to alleviating the symptoms and preventing recurrences.
Here are some options to get your business started and to light a fire under your ass:
- Sitz bath: Source for $0.60 per unit, and sell on Amazon for $25.95.
- Epsom salt: Buy in bulk for $1.00 per kilogram, package in 2lb bags, and list for $14.97 (recurring).
- Witch hazel pads: Buy 50-count packages for $0.40, and sell online for $9.48 (recurring).
- Aloe vera gel: Source in bulk for $18 per kilogram, and sell 12oz packages for $14.89 each (recurring).
- "Donut" tailbone cushion: Buy overseas for $2.00 per unit, and flip online for $30.99.
But that’s not all. You could serve your customers even better by thinking bigger. How about:
- A high-fiber food brand with products that feature fruit, vegetables, and whole grains to help soften stool so your customers don’t strain to poop.
- Topical treatments made from a proprietary blend of ingredients that help to numb, shrink, and heal hemorrhoids.
- A line of spa products that would make a sitz bath feel like an indulgence.
Build from Scratch? Or Buy an Existing Hemorrhoid Treatment Business?
We took a look at the top selling hemorrhoid treatment sellers on Amazon. Sure, there are name-brand products you already know about (Preparation H, Tucks, stuff you probably saw in your grandparents’ medicine cabinet).
A few quick observations:
- Doctor Butlers (please tell us this is a pun!?) It’s a solid brand that’s doing a lot well. They’re selling on Amazon, their own site, and in drug stores in Ohio. The face of the brand is a doctor. What they don’t have is much of a social media presence. Also, they’ve gone the route of product-first rather than serving a specific audience.
- UberScientific They might be doing well on Amazon, but their site is… well, not helping. You can do so much better!
- Frida Yeah, baby! No, really… it’s an excellent example of serving a specific audience. New moms, in this case. Of course, there can be more than one new mom-oriented company, right? Plenty of room for more!
- Ebanel has a nice site, an affiliate program, and wholesale opportunities. But what they don’t have is a specific audience they serve. Plus, their product line is much more general - skincare - than specifically offering hemorrhoid treatment products.
- Forces of Nature has a nice site, too. This brand serves customers who are into alternative and natural medicine. You could learn a lot from them. But their product line is broad, covering everything from first aid to pain care and sleep aids.
There are others, of course.
While many entrepreneurs start their business from scratch, some go the route of acquiring existing profitable businesses. The most obvious perk that comes with an acquisition is that you’re buying a business that’s already gone through its growing pains. It’s making money. It’s got existing customers. And the owner has already discovered what works well and what doesn’t.
We had a sit-down with Shakil Prasla, who’s become an expert in buying and growing ecommerce businesses. If you listen in on the conversation, you may discover that this is the path you want to take.
Which Path Will You Take to Your 8-Figure Exit?
A little secret for you…
The blueprint you’ve just read will work for any niche, butt-related or not. Of course, with this niche, the jokes are an added bonus.
But the best way to get started depends on what assets (sorry) you bring with you.
Are you an influencer or audience leader?
If you’ve already got an audience, you’ve discovered something that probably surprised you. The offer to get paid to pimp products is flattering at first. But after a while, it begins to feel a little sleazy. It’s another matter entirely when you can hand-pick a brand you love so much that you’d talk about it for free to anyone who’ll listen. The most powerful way to leverage your influence is to partner with a brand-building product creator. They’d do the heavy lifting (all the stuff involved in creating and selling the product), and you’d provide your partnership with access to your loyal fan base.
If that sounds like you, you should read this article we wrote for influencers looking for a better way to monetize their fame. Also, give this podcast episode a listen. It’s Ryan’s conversation with NFL star Darren Woodson about how to monetize a fan base. And if you’re a blogger, you’ll want to check out how Yasmine leveraged her readership to build a physical products brand for moms.
Are you an internet marketer?
You’d be in good company if you’re looking to get into e-commerce. Many of our students got their start as “Amazon Sellers” and ultimately sold millions through Amazon FBA. If that’s you, you’ve discovered the pitfalls of selling products (rather than building a brand that serves a specific audience). It can be hard to sleep well at night knowing new competitors are constantly entering your space. They drop their prices; you drop yours, until your margins get scary-thin.
We’ve got a solution for you. Listen to this podcast to discover how you can turn your business into a brand (and watch your loyal customers help you grow it rather than buying based on the lowest price). You’ve already got a lot of skills that’ll give you a head start for growing a business that’s strong and sellable.
Are you a product creator?
Your brain just naturally finds solutions. You’re the kind of person who’s always finding better ways to solve problems. People call you an idea person because you always come up with ideas for improving, innovating, or inventing new products.
But of course, you’ve realized that without execution, ideas are just ideas. There’s a lot involved in taking an idea to the marketplace - and it takes a skill set you may not have an interest in developing (it takes a while!).
When you read Nick’s story, you’ll see yourself in it. This product creator went through the learning curve to take his brand to market and it did well. Really well. But when he partnered with investors, everything got even better. No longer did he have to spend his days on the technical end of running an ecommerce business. Instead, now he’s free to spend his time doing what he does best - inventing new products.
Just want to own the business instead of doing the work?
Now you’re talking, right? This article will have you nodding your head, maybe even cheering, because it’s absolutely possible to operate from a place we call the owner’s seat.
This is how entrepreneurs become billionaires by following the owner’s model. Much like how a movie producer gathers actors, directors, writers, editors, and all the other people needed to make a blockbuster, you simply gather the talent and funding you need to build something really big.
You don’t have to have influence, an audience, marketing skills, or product creation skills. You don’t even need to have your own funding or connections to launch your business in the next few months and sell a million dollars in product in the next year.
Serious about building your own brand that’ll be perfectly poised for an 8-figure exit in just a few years? We’ve got all the funding, connections, and strategies you need.
It’s all waiting for you inside the Capitalism Incubator. Apply now so we can get started.