Tips for Preparing to Reach the Big-Box Retailers
Reaching big-box retailers has the potential to become quite the hassle, especially when you don’t have the knowledge or experience to catch their attention. At AsSeenOnTv.pro, Kevin Harrington and his dream team of advisory board members, can provide their expertise on how to position yourself for retail and licensing opportunities. Before coming to us, we suggest doing your homework on the industry by following these steps:
Do your Homework
Before you make the leap of faith to multi-unit retail, be sure to ask yourself: Is your product unique? Does your product offer a solution to an everyday problem? Who are the retailers you have in mind? What is special about your product that would make a retail buyer take notice? If you sign a contract with a big-box retailer, can your manufacturing production handle the volume?
If you’ve seen Shark Tank, you know these questions are vital when your product is involved. Asking yourself these questions is not only smart for self-growth, but allows you to gain a better understanding of your market. This is the first step to recognizing the potential of your growth, believing in your product, and allowing our dream team to believe in it with you.
Planning Ahead for Profit
You should expect to plan for a manufacture cost that’s one-fifth the retail price–or less. Secondly, build the cost of packaging, commissions, marketing and distribution into the wholesale cost of your product. Also, be sure to familiarize yourself with the retailer’s guidelines for other fees that the retailer may not have been up front about. Doing this can save you from making an upfront deal that may be too good to be true.
Browse the Store
Build up your excitement and begin searching for the best retailer for your product. You may want to do this by browsing stores for similar or related products. Spend some time in local big-box retail stores and catch a glimpse of what’s on the shelves. Start envisioning where in the store your product would live, and keep that in mind when it comes time to approach the store’s buyer and make your presentation.
Determine who should Pitch your Product
Your decision to either offer the product to retailers yourself or hire a representative to do it for you depends a lot on your product as well as on your strengths as a businessperson—if you’re unsure of your strength to pitch your product, we have the solution: Darren Todfield.
As if Kevin Harrington’s dream team couldn’t get any better, Darren is our newest Advisory Board member, who works with many major players in the industry. His company, Leisure Time Inc., has done business with 10 of the leading As Seen On TV marketers, and has now joined AsSeenOnTv.pro to lend a helping hand for getting your product in front of a retail buyer. Referring to himself as a mini Billy Mays, Darren brings with him not only credibility through his vast accomplishments, but the experience necessary to give your product the boost you’re searching for. Hiring someone such as Darren with big time connections in the industry to represent your product, not only takes a tremendous amount of pressure from yourself, but gives you an established retail buyer/representative relationship that you otherwise wouldn’t have.
By meticulously evaluating your probable marketplace, preparing carefully for production increases, staying up-to-date with your competitors, and trusting a professional, well-connected manufacturing representative to pitch your idea to potential retail buyers, your dream of seeing your product on places such as Home Depot, Walmart, and Bed Bath and Beyond, can become reality.