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Webinar 16
Being Retail Ready
• Mastermind Dates
• NEW Movie Of The Month!
• Pitch Challenge Results
• Where to email for support
Housekeeping
Mastermind
• Gold Coast
19-20 Jan
‘Mantra On View’
• Sydney –
23-24 Feb
‘Mantra Parramatta’
Josh Apitz
• Seagull Milk Started
Production
Example of the Week
Movie of the Month
The Ultimate Gift
Challenge Leader Board
Heaton Family
Most Sales $20 Challenge
Lewis Family
$20 Challenge Video
Heaton Family
Contact Someone Famous Challenge
Sarina
Most Sales Pitch Challenge
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. Goal Setting
8. Selling At Markets
9. Creating An Outstanding Flyer
10.Understanding Your Target Market
What you’ve done so far 11. Introduction To Facebook
12. Getting Your Business Online
13. Creating Your Brand
14. Wholesale Vs Retail
15. Getting Into Retail
Webinar 16
Being Retail Ready
Quick Recap
From The Last
2 Weeks
Putting it all together • Introduction to Retail
• Understand your
competition
• Introduced the main
players
• Vendor Departments
• Retail Buyers
• Retail Brokers
• How to contact them
and how much it cost
• Whole sale Vs Retail
• We discussed the
differences
• Explained how pricing
worked
• Showed you the
wooden toy example
• Make sure you
understand your
numbers
What do you need to know
if you get a meeting?
Don’t Be This Couple
Old Saying …
Retail is in the detail
• When Preparing to meet with retail
buyers
• They will ask you heaps of questions
• You need to be prepared, you may not
get another chance to pitch your
business or product
Getting your Pitch Right • Revisit the webinar on pitching
• Things to consider are
• Answer the question, “What's in it for
them” - the retail store
• E.g. What type of new clients will your
product attract?
• Because your product is outstanding
you will bring in more revenue
Getting Your Pitch Right • Over come the retailers risks and
objections
• Think of some possible risks that your
product and business might be to them
• Have solutions to the potential
problems they might see
• Perhaps you could offer a special
marketing campaign to drive people to
their store
Getting Your Pitch Right • Be Prepared
• Do your homework – know all about them
and their store and what products they
have on the shelf
• Know where your product is selling and
how much you are selling
• Know the market trends and statistics for
your products
• Have testimonial and recommendations
Other things You
will need to
know?
What is your turn around time?
• How long does it take from when the
store orders to when you can deliver?
• They need to know this because they
don’t want empty shelves
• Think about how you will deliver your
products
Compliant Packaging • This is one of the most important things
• Each store will have slightly different
requirements
• It can pay to go through the vendor
department process to see what they
want – most times this is online
• Barcodes – GS1 Standard
– http://www.gs1.org/10-steps-to-barcode-
your-product
Product Pricing • Must meet the retailers profit margin
• They will try to negotiate a lower price
• They will expect you to have a pricing
structure sorted before the meeting
• Know your wholesale and suggested retail
prices
• Share examples of previous arrangements
Customer Service ProceduresYou will need to show them how you deal
with the following:
• Returns and defective merchandise
• Customer complaints
• Warranty rules around your product
• Have a written procedure you can
show them
Exclusivity • The retail company may ask you to sign
an exclusivity contract
• Be very careful with this
• As you might not be able to sell anywhere
else
• However if they are willing to sign a
contract for large orders over a set time…
it could be worth it
Website and online presence
• Make sure that your website and online
presence are set up
• Be able to show:
• The following you have on social media
• The traffic and sales of you website
• The size of your list and the results of
your email marketing
Marketing • Retailers will expect you to be actively marketing
your product
• You will be expected to answer how you are
going to continue to market your brand
• This could be via social media, email marketing,
trade shows, Public relations, etc.
• They may take an allowance for marketing before
they pay you- so they can include you in their
store marketing
The Ability to Scale • How big an order can you take
• 100 units – 1,000 units – 10,000 units
• Can you scale based on demand?
• How much money would you need to
fill an order of 1,000 units?
• When would you get paid?
• How long would it take you to deliver?
Starting Small • It might pay to start small
• Perhaps look at a few local independent
stores
• This will help you to understand the process
• It will help you to know how to work with
retailers and what they want
• Plus can be an example & provide
testimonials
Kids Biz Retail
Success Story
Morgan Hipworth
• Morgan always loved to cook
• When he turned 14 started ‘Bistro Morgan’ a
business run out of his garage supplying cafes
around Melbourne with his range of cakes,
slices and specialty donuts
• Supplies 13 cafes with 700 donuts per week
working up to 50 hours per week in his business
Morgan Hipworth
• Last year Morgan had a pop up donut store
selling 10,000 donuts in one week!!
• Now at 15 Morgan is setting up his
first ever shop
• He will employ 2 full time bakers & staff to
run the shop including his Mum
Overview
1. Being prepared for retail meetings
2. Getting Your Pitch Right
– What’s In It For Them?
– Know Your numbers
– Testimonials & recommendations
– Overcome objections
3. Turnaround Time
4. Compliant packaging
5. Product Pricing
6. Customer Service Procedures
7. Exclusivity
8. Website & Online Presence
9. Marketing
10.The Ability To Scale
11.Starting Small
12.Morgan Hipworth Retail Example
MERRY CHRISTMAS FROM OUR FAMILY TO YOURS
2019 webinars
commence
16th Jan