A checklist to help you prepare a plan that will get your product into major retail stores.
Getting your product into a chain store is no easy task. Not only do you need to prove your product fills a gap or is better than existing products on the market, you need to make sure you can meet the production demands of those chain stores. And that costs money.
Before leaping head first into the realm of chain store mania, start with smaller, local stores. Get a feel for what the public wants. Fine-tune your product based upon consumer and retailer feedback. And build up enough reserve capital to carry you when you finally do make the big leap to chain store heaven.
Once you’ve perfected your product and sales are steady and reliable, it’s time to hit the chain stores.
Prepare a business plan. In your business plan, include information like:
Who the target audience is,
How sales have been in the past,
What current consumers and retailers have to say about your product,
What makes your product stand out, and
How your product can fill a void in their stores. (Remember, the bottom line of any chain store is profit margins.)
Plan ahead for growth. Make a list of manufacturers and distributors who offer the best cost for mass producing your product and the best cost for distributing your product to the chain stores.
How will you meet the demands of your new customers?
Who will produce your product?
How will you get your product into stores?
Prepare for wholesale prices. Remember you’ll be selling your product to retail chains for 50-75% off retail price.
What does it cost to make each individual product once mass produced?
What profit do you need to receive to keep your business afloat?
What will be the “official” retail price?
Locate retailers. Make a list of chain stores that you believe will benefit from selling your product, then find out who their buyers and/or suppliers are.
Create a presentation. How you present your product to the retail chains is just as important as the quality of the product itself. Take the time to put together a great presentation package and include things like:
Sample product
Sample of product packaging
Product Catalog complete with retail and wholesale pricing
Alyice Edrich is an affordable freelance writer specializing in how-to articles and Q&A interviews for the web. To view her freelance writing rates, or to hire her for your next writing project, visit http://alyiceedrich.net
