webinar 16 intro to getting into retail · selling to people and getting paid 4. understanding...
TRANSCRIPT
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Webinar 16
Intro To Getting Into Retail
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• Example of the Week
• New Movie Of The Month!
• Where to email for support
Housekeeping
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• Emily Healy
International Women’s Day
Scholarship
Example Of The Week
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• Walt Before Mickey
If you are coming to China
watching this movie is part of
the preparation for the trip
Movie Of The Month
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• Have you applied for your
China Visa’s yet?
• We highly recommend
getting travel Insurance
China Trip
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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
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Challenge Leader Board
Suryanto Family
Most Sales $20 Challenge
Woodford Family
$20 Challenge Video
De Moura Family
Most Business Owners Interviewed
Demczynska Family
Best Learning Business Owner
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Webinar 15
Intro To Getting Into Retail
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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
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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
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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
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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
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Kids Biz Retail
Success Stories
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Isabella Dymalovski
Watch Our Interview in the Members Area
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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
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Zollipops – Alina Morse
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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
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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
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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
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Before we contact retailers
we need to understand
who the players are and
what they do…
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Who are the Players 3. Retail Brokers or
Manufactures Rep
2. Retail Buyers
(chain store category sales Rep)
1. Vendor Departments
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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
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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
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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
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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
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Understand contacting people like
this with no introduction
Is a numbers game
Just like contacting famous people
More contacts = better results
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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
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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
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Kids Biz Retail
Success Stories
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Love Sandal - HBC
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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
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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
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Quick Win Challenge
March…
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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.
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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
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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!
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Challenge Leader Board
Will it be you?