Q: I've found a
product in another country that I would like to sell in the United
States. How do I find buyers for companies like Bed, Bath and
Beyond; Linens 'n Things; Marshalls; Target; and Wal-Mart? And
what would be my first step in contacting them?
A: Winning shelf
space in the retail superstores is a wholesaler's dream. First,
you'll need a great product that's priced to move quickly
off the shelves. It should be packaged to grab the attention of
shoppers and facilitate sales, and it should be coordinated with
effective point-of-sale displays. Before approaching the
superstores, you must also be prepared to communicate via
electronic data interchange (EDI), because most chains dispensed
with paper orders in the early '90s. And be ready to meet quick
delivery deadlines, because it's not unusual for major
retailers to demand turnaround times of three to five days.
While buyers for some major chains still expect the president of
the company to call them directly, most prefer to work with
established sales representatives. Choose a rep firm with expertise
in your product area. I did a basic search on "manufacturers
rep firm" on Yahoo! and got 16,900 Web page matches. When you
narrow down your search based on your specialty, you'll still
have plenty of options.
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You and your reps will approach prospects via phone to schedule
meetings, and at trade shows where you have product booths. When
you finally contact the corporate headquarters of each of your
prospects, it will be vital to pinpoint the right buyers and know
exactly what they're looking for. You may have to make many
phone calls before you get a single call back, but when you do,
make sure you're prepared with solid knowledge of your
competition and customers. Getting in touch with buyers at specific
times of the year can be critical, because while smaller chains and
independent stores may decide to stock a product at any time,
superstores may make decisions by the end of the first quarter for
the entire year. So if your product isn't on their lists by
then, you may have to wait another year for another chance.
And consider this—getting the first order is often just a
test. Whether you deliver to those superstores on the second and
third go-rounds will determine future sales growth for your
company.
Kim T. Gordon is a multifaceted speaker, marketing expert and
media spokesperson—and one of the country's foremost
experts on entrepreneurial success. Her newest book, Bringing Home The Business(Perigee),
identifies the 30 "truths" that can make the difference
between success and failure in a homebased business. From formulas
for positioning a business and creating an image to Internet
marketing strategies and tips for work-at-home parents, by reading
just one truth per day, in one month, readers will master a
complete course on homebased business success. To read an excerpt,
get information on media appearances and seminars, receive free
how-to articles and advice, or contact Kim, visit http://www.smallbusinessnow.com.
The opinions expressed in this column are
those of the author, not of Entrepreneur.com. All answers are
intended to be general in nature, without regard to specific
geographical areas or circumstances, and should only be relied upon
after consulting an appropriate expert, such as an attorney or
accountant.