Webinar 16

Intro To Getting Into Retail

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1. Welcome webinar

2. Refining your idea

3. Selling to people and getting paid

4. Understanding sales and numbers

5. Perfecting Your Pitch

6. Sell It Before You Build It

7. Selling At Markets

8. Getting Your Business Online

9. Who Is Your Target Market?

10.Goal Setting

What you’ve done so far

11. Introduction To FB

12. Creating An Outstanding Flyer

13. Doing Good Is Great Business

14. Wholesale Vs Retail

15. Business Challenge Learnings

Challenge Leader Board

Suryanto Family

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Webinar 15

Intro To Getting Into Retail

Understanding the process

• Wholesale &

Distribution

• Sells the product in

bulk to retailer

• Manufacturer

• Creates products from

raw materials

• Eggs in cartons

• Retail

• Promotes the product

and makes the sale to

the consumer

• Suppliers

• Creates the raw

product(s)

• Egg Farmer

Pricing Example

• Manufacturer – (Browns)

• Wholesale & Distrubution

• Browns then pasteurisers the milk and

puts it in cartons

• Then sells in large quantities to the

retailer Coles

• For 50c a litre

• Retailer (coles)

• Unloads the Milk and puts it in

the store

• The Consumer buys the milk

• Coles sells it for$1 per litre

• Supplier Farmer

• Sells the raw milk to the

milk factory (Owned by

Browns)

• For 25c a litre

Q. Should I sell for less in

bulk as a wholesaler or

should I sell smaller

quantities for more in retail?

A. Understand the Numbers

Power Of Getting Into Retail • Imagine getting your product into

• Kmart

– Revenue 2016 $5.3 Billion

– 31,000+ employees

– 200+ stores

• Big W

– Revenue 2016 $4.11 Billion

– 22,000+ Employees

– 186 Stores

Kids Biz Retail

Success Stories

Isabella Dymalovski

Watch Our Interview in the Members Area

Ry’s Ruffery

• Ryan’s sales in the first few months of

starting his business were $800

• After airing on Shark Tank & securing deals

with Target, pet stores and other retailers,

sales went up to $350, 000 in the next few

months

Zollipops – Alina Morse

Where to get started

• Look for related stores to your product

• Don’t sell fishing gear in a beauty store

• Make sure that you understand what

they sell

• Make sure that the store sells to your

target market

Understand your competition• What are their price points

• How many competing products are there

• What is their packaging like

• Is your competition at eye level – do

they have display cabinets

• How big is your category in the store

• How are you different and outstanding

Where to Next • So by now we should understand the following

• Difference between Wholesale and Retail

• How the numbers on our product works for both

• What our competition sells for and how we

compare

• Have a list of retailers that are relevant

to what we sell

Before we contact retailers

we need to understand

who the players are and

what they do…

Who are the Players 3. Retail Brokers or

Manufactures Rep

2. Retail Buyers

(chain store category sales Rep)

1. Vendor Departments

Vendor Departments• If you contact any large store and ask to

about how to put your product in there

• They will have a process for you to follow

• In most cases you will submit your

application to a Vendor Department

• They will have a form to fill out online or

offline and then you submit your

application

• Response time 3 to 6 or even 12 months

Vendor Departments• Response time 3 to 6 or even 12 months

• You are not dealing with the decision

maker directly

• This is what everyone who is not getting

noticed does – thousands of requests

• Vendor department and processors are the

gatekeepers to weed out the average

competition

• The real decision maker is the Retail Buyer

Retail Buyer• Manages all the products of a category for

the retail store

• For example K- Mart will have a retail

buyer that decides on all the products that

go in each category

• Each category has its own buyer i.e.

• Soaps

• Underwear

• IPad accessories

Contact The Retail Buyer• The best strategy is to contact retail buyers

Directly

• Find the right buyer for your product

• There are lists you can find or purchase

• Google Retail Buyers List – or check library

• Make sure the list is less than 12 months

old

• You can even search for them on Linked In

Understand contacting people like

this with no introduction

Is a numbers game

Just like contacting famous people

More contacts = better results

The Retail Broker • Also called a Manufactures Rep

• Works as a Sales rep for multiple products

• Already has relationships with Retail Buyers

• They have allot of experience in selling to big

chain stores

• They will represent your product for you and

get them into stores

• Can give you great feedback on your product

before you go to a retailer

The Retail Broker

• To contact them you can google

manufactures rep or retail broker with the

product you are selling at the end

• There are also manufacture rep

associations depending on the category

• They usually take 5% -25% commission

plus some upfront fees depending. They

usually work on a performance basis

Kids Biz Retail

Success Stories

Love Sandal - HBC

ManCans• Hart Main walked the streets pitching his man

scented candle range to small businesses

• Before long he was selling his candles in 60 stores,

before he was picked up by the radio station

Overview1. Power of getting into retail

2. Kids Biz Examples

3. Process Recap

4. Look for Related stores

5. Understand your competition

6. Who are the players

a) Vendor departments

b) Retail Category Buyers (sales Rep)

c) Retail Brokers

7. Vendor Departments

8.Retail Buyers (Chain Store

sales Reps)

9.How to contact them

10.Retail Brokers

11.How much they cost

Quick Win Challenge

March…

Quick Win Challenges

• They are all designed around a business

concept to help you quickly learn

• Most of these challenges will include things where you

make quick money, others are longer term concepts

which will build a foundation for you to make more

money later on.

• Either way you will make money and learn business

concepts to build your business on.

1. Now that you’ve been working on your business for a

couple of months, rewrite your elevator pitch

2. Give your elevator pitch to as many potential clients as

you can

3. Refine your pitch based on their reactions, so by the

end of the month it should be awesome!

4. Make sales as a result…

Winner is the one who makes the most sales pitching in $$$!!!

Perfect Your Pitch

Cool Prizes …

• Bragging rights and a place on the leader

board

• Entrepreneur of the month Certificate

• Family Pass Movie tickets

• Go in the running to win the Youth In

Business Cup!

Challenge Leader Board

Will it be you?