How did the idea for your business come about?
Our Founder and Chairman, Mike Davies (MBE) started the Principle Healthcare business in 2002. Mike created a business that truly meets people’s individual needs with specialist Healthcare products of the highest quality.
Principle Healthcare has different brands. Which brand industry do you find the most competitive?
Principle Healthcare have products in every category of the Health Supplements industry – all the sectors that Principle Healthcare operate in are highly competitive, particularly where we compete with products from China/India etc.
How do you ensure quality and consistency whilst at the same time remaining competitive?
Principle Healthcare operate on a platform of high quality of product –all of our customers require quality and understand that quality has a cost.eg ingredients, testing, audits etc.
What difficulties have you encountered setting up your business?
The biggest, yet welcome, Export challenge is the Regulatory aspect of working in the Vitamins and Minerals/ Food Supplements manufacturing business. This is a welcome challenge, because quality is very important to our business. Principle Healthcare’s quality levels are exceptionally high.
What are the biggest trade and export challenges you face?
Many countries that are good opportunities for export, consider Food Supplements to be medicines. This means Registration of products with local Ministries of Health where there is a requirement for a medicine dossier.
What are the most crucial things you have done to grow and develop your business?
Principle Healthcare are developing the pharmaceutical approach to manufacturing Vitamin and Minerals in order to further develop our exporting abilities, this is in keeping with our commitment to quality.
How did you hear about the CWF programme and what made you apply?
A colleague mentioned the CWF programme as a result of hearing about it from an existing CWF member; Principle Healthcare has introduced more focus on the Commonwealth recently realising the potential with partnerships across the Commonwealth.
What are you hoping to get out of the CWF programme?
Principle Healthcare believes the CWF programme will allow us to develop our Commonwealth business through introductions with appropriate partners.
What is a typical working day for you?
A typical working day at Principle Healthcare is that everyday you are learning something new about every aspect of the business.
Are there any exciting projects/products in the pipeline that you would like people to know about?
Principle Healthcare are continuously innovating with new dose formats, new taste variants, unique formulations…watch this space for products for weight management, improving children’s health, healthy aging etc.
Where would you like your business to be in 5 years time?
5 years from now we aim to be in more countries with the right products – we have a 5 year strategy in place.
What advice would you give to anybody looking to set up an SME?
Be prepared to roll your sleeves up and do it yourself – everything from making the product, packing boxes, putting boxes on a wagon, writing the invoice, preparing the marketing material and training the customer on how to sell the product.
View Principle Healthcare International’s CWF Profile