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ABOUT HI-TECH

 

Hi-Tech Pharmaceuticals, Inc. is a Georgia corporation based in Norcross, Georgia led by 35-year-old President/CEO Jared Robert Wheat, who started the company in the home of his parents in Birmingham, Alabama in 1994.

Hi-Tech Pharmaceuticals is an enormously successful company that creates, manufactures and sells high-quality herbal products sold by the large, major retailers across the United States such as GNC, Rite Aid, Kroger, Albertson’s, CVS, Duane Reed, Hi Health, health food retailers, adult novelty stores, as well as in more than 80,000 convenience stores throughout the United States.

Hi-Tech Pharmaceuticals, Inc. is privately owned and operated and is a successful leader in the production of private label nutritional supplements and vitamins. We offer a complete line of vitamins, herbs, sports nutrition, creams, powders, and liquid formulas.

 As more and more consumers turn to preventative healthcare and science begins to catch up to the use of dietary supplements, the growth opportunity is exploding Sales of nutritional supplements reached more than $22 billion by the end of 2006. 70% of the U.S. adult population uses dietary supplements.

Dietary supplements are not pharmaceuticals and are regulated pursuant to the Dietary Supplement Health and Education Act of 1994.  Under DSHEA, dietary supplements are regulated as a subset of foods, rather than drugs. Hi-Tech Pharmaceuticals is positioned to be one of the most dynamic manufacturers in the dietary supplement business. Hi-Tech has a team of doctors, chemists, pharmacologists, biologists, natural product specialists, and other researchers that have set out to marry the pharmaceutical approach of product development to nutritional and dietary supplements.

Hi-Tech holds a key position as a leader and inventor of natural, proprietary, and preventive healthcare products and will stay on the cutting-edge of product development. Hi-Tech is dedicated to setting a higher standard of scientific excellence for the dietary supplement industry.

With over a decade of manufacturing over the counter (OTC) and dietary   supplements, along with a background in retail, mail order, and multi-level marketing, Hi-Tech has gained a wealth of knowledge and technology required to compete in this growing industry.

From Body Building and Sports Nutrition to Dietary and Health Products

Although Jared Wheat’s original vision for Hi-Tech was for a highly successful body building and sports nutrition products company, Wheat discovered within a few years of starting the company that the margins, at the time, for the sports nutrition products  were not that great.

But timing was on the new company’s side, and Jared Wheat, always one to play by the rules he’s given while at the same time taking advantage of every available opportunity, saw a void when the weight loss product Fen-Phen got taken off the market and Hi-Tech developed a weight loss product to fill the void.

“We developed one and that was kind of what catapulted us to success.  Our main products, even today, are weight loss and sexual potency products, kind of our bread and butter where we excel sales wise,” says Wheat.
The company got into the direct mail business in 1998 and from then until 2002 that’s pretty much what the young company concentrated on – sending mail straight to the mailboxes of customers who might be interested in Hi-Tech’s products.

Along the way adjustments had to continually be made, but by 2002, Jared Wheat, taking advice from medical and scientific experts and using his own ingenuity, had spent several years perfecting weight loss and sexual potency pills, and had an advantage because of direct mail that others had not been quick enough to recognize and tap into.

The advantage I had in this type of business is that with direct response you can see your orders.  Your initial orders show you how effective your ads have been, that’s your trigger.  Then, after that, it’s all about how good your product is and you’re able to discern that by analyzing your reorders and refunds, if you offer, like Hi-Tech, a money back guarantee.  It’s really quite simple, at the end of the day if it doesn’t work, customers end up sending the stuff back,” says Jared Wheat.

“If it works they’re going to buy it again.  I watched refund rates go from 22% down to 6% and I saw reorder rates go from 1.5% to in the 40s.  So you clearly knew, when you’re doing a polling of half a million people, you know that there’s no statistical placebo effect about that type of data.  So I then went back to retail with the Hi-Tech brand and that’s kind of what we focus on today.  We still do some direct mail, but not near to the extent we did back five years ago.”

Written by Lipodrene.biz Admin

May 29th, 2008 at 9:27 pm

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