Advice on Selling to Big Chain Stores

Businesses need ample opportunity to grow — growth promotes more visibility and, perhaps more importantly, more profit. If you have a business that sells a self-designed item, one of the ways that you could create growth is by having your item sold at a large chain store, such as Target. Making this connection means more visibility, and more connections with other business that can support your business, making your entrepreneurial webs go stronger and wider. On the other hand, these ties certainly are not automatic – you have to work for them. With that said, here are some ways that you can begin to sell your item to a large chain-store:

Have all Logistical Matters Set Up
Before you try to sell your product to a chain-store, have all of the technical matters decided beforehand. How much do you want to sell your item for? What is the suggested sale price? How much will it cost the vender to sell these items in bulk? Having all of these facts prepared cold for the retail seller will make you appear more confident, and thus will give the retail seller more confidence in selling your item.

Begin Attending Trade Shows
Trade shows are conventions where various venders gather to take a look at new products. These products are what you, the small business owner, could be advertising. You will want to take a look at other products, and see how they stack up to yours; get feedback for your item from other investors in order for to get an idea of what you could improve on.

Start small
As is the case with many aspect of our lives, it may be good to start small. Try to see if, first, a local chain store or smaller chain store would be willing to sell your item. Get to know them, and you just may be seeing your product of shelves in bigger stores.

Know Your Metrics; Prepare your Presentation
When chain stores consider purchasing your product to sell in their stores, they are making a considerable large investment, and they are only doing so once or twice every year. In other words, you are going to have to make it seem as though they are making an investment, or else they will not go forward with your push. They are going to want to look at metrics such as the number of units that you have recently sold your item, and the amount of profit that you have received. Make sure that all of this information is available. If you do not have a substantial amount, it may be best if you waited until you have sold more of your own item on your own. Also, prepare your sales pitch thoroughly – you do not have many other times that you will be able to prove your product as one of value to sell, and you will have less than 30 minutes to impress the company. Have all of your key points on PowerPoint slides that are easy to read.

Make sure that You Know All Terms and Conditions
After the presentation, the chain store owner will either tell you that they do or do not want to sell the product at their stores. If yes, then it’s time to celebrate, right? While you may be exited when such a deal goes through, you will want to make sure that you know the company’s Terms and Conditions like the back of your hand. The store companies will make most of their conditions clear, but it is better to read their official statement online just to make sure that you are not getting yourself into any trouble. For example, in some cases, they may only agree to sell your item if they give you profit for each item of yours that they sold. This could be a good idea if you feel confident about your product, but not if you are financially burdened or are not sure how well it will sell. If they have any conditions that don’t work well with you, then politely tell them there needs to be a compromise or else you will break the deal.

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SMBReviews is committed to providing small and mid-sized business owners with the information and resources they need to select the best service or product for their company.

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