Changing demographics and the ability to produce better-tasting flavours has seen new energy drinks and protein shakes continue to increase their segments throughout the industry. Paul Finder, president of PharmaNaturals, discusses how Best Life has been able to capture this market share with a research and design team focused on an efficient manufacturing process and fulfilling the demand of millennials.
What is behind Best Life's success and rapid expansion?
Paul Finder: As head of Best Life PharmaNaturals, author, innovator and public speaker, Lisa Finder is coming into her own as leader of one of the fastest-growing companies in Arizona, US. Every venture has brought her success and this is shared with many other people including staff, customers, vendors and researchers. Best Life prides itself on providing all the value of manufacturing for retail companies without the pain. We understand that our customers do not want to be in the manufacturing business, but wants to focus its attention on the business of selling and distributing their product.
Finder's vision of the customer has led her to assemble a top-level executive team with members from around the country that are bringing high-quality manufacturing, healing and wellness innovations to the supplement industry. The team approach is helping Best Life gain market share towards a goal of dominating the contract manufacturing segment of the industry. In addition to providing world-class service and manufacturing, Best Life is accomplishing these goals by bringing to market cutting-edge innovations fresh from a local university's bio-design lab. Working relationships with universities, doctors and wellness-industry experts provide the newest innovations in raw material and manufacturing science, which Best Life is able to bring to its customers.
What recent trends have you seen evolve across the industry and what impact are they having on your company?
The trends we are seeing recently are an increased demand for powder and ready-to-drink beverages - things such as energy drinks or whey protein shakes. We believe this focus has arisen because of the age demographic that is being targeted. The younger population - generation X and millennials - like the ease of use of these types of drinks and the functionality of having them ready to go.
The other reason we believe this trend is becoming so popular is because we're able to make them taste so good. Best Life is particularly good at making the flavours that customers enjoy and search for whenpicking a beverage. Our on-site R&D lab makes it easy for us to make excellent, tasty products that everyone will enjoy.
What sets you apart from other contract manufacturers in the sector?
Best Life is a GMP-certified dietary supplement contract manufacturing facility located in Tempe, Arizona. Specialising in capsules/tablets and powder manufacturing, Best Life also offers liquid manufacturing and packaging capabilities. Powder-blending capabilities include ribbon blending, V blending and high-volume cone blending. We have fully automated high-speed encapsulators and tablet presses. Liquids are prepared and processed in stainless-steel tanks with a six-head fully automated filling line. Full-service high-speed automated packaging capabilities complete the manufacturing process. Quality control is guaranteed through two on-site labs. Pre and post-manufacturing testing of raw materials and finished goods is handled by our quality control team, and in-process quality control inspection and testing is monitored by our quality assurance team. Ongoing research and product development occurs not only through university partnerships, but through a separate dedicated on-site lab.
What challenges are you facing in the sector at the moment and how do you plan to overcome them?
Despite the challenges of ever increasing DSHEA and CFR 111 regulatory costs, we have continued to grow as a leader in the nutraceutical industry, and with the help of our founder we have navigated the company through sweeping changes in the industry. Those changes have created tremendous competitor fallout while Best Life has become an example of compliance and success that is measured not only by top-line double-digit revenue increases, but also by quality, innovation and desirability.
The company now totes certifications of compliance and awards like INC. magazines' Hire Power award, and pockets the far-reaching value of delivering innovation to the market. Our future plans also include a new state-of-the-art production facility that will provide the platform for greater production levels, increased productivity and new opportunities for the Best Life employee family and its customers.