Is your product ready for retail sales? Our 5 step Retail Readiness Program may be just what you need! Let us evaluate your product idea, collateral materials and product packaging - then determine if you are ready to sell to the world's most renowned retailers!
WHY IS THIS PROGRAM IMPORTANT?
The fact is most inventors who have developed a product are not properly prepared to approach major retail chains and catalogs – even though they feel they are. Retail buyers have an important job to do. They must make money for their company or risk losing their jobs. It’s really that simple. Many retailers shy away from inventors due to their inexperience and lack of business acumen. Today, more than ever, retailers are reducing the number of new vendors they work with and are choosing those that not only have a great product but are capable of being a reliable partner they can work with long term. When you approach them, you must be sure you have the following key items in proper order:
· Product packaging must not only be attractive but technically correct or you risk poor sales and the retailer pulling your product from the shelves
· Product pricing must be carefully calculated to meet the retailer’s profit margin requirements or they can’t buy from you
· Market strategies must be in place as buyers expect you to drive traffic to their stores and not your own website
· You must have properly created sell sheets, presentation decks, product spec sheets, and other collateral materials that must be presented to a buyer so they can properly review your product
· Factories making your product must be credible and capable of producing large volume orders and do it according to U.S. safety standards
· Customer service procedures such as handling defective merchandise, customer complaints, and warranty rules must be established
· You must have product liability insurance, UPC codes for your products, sell and spec sheets, and be EDI capable to do business with major (and even smaller) retailers
These are just some of the numerous key areas that you must be prepared for. Retail buyers are notoriously tough to get a hold of, so you cannot afford to sacrifice such a golden opportunity by not being prepared when you finally reach them.
Are you really ready from a business standpoint to call on retail buyers and “do the deal” and make money doing it?
There are seemingly endless details to understand and it is often confusing and overwhelming. It was when we started. With nearly 20 years of working with retail buyers and nearly 100 million dollars in product sales to the largest and most well known retailers in the world, we know exactly how retail buyers operate, what they want, and how to speak their language.
HOW DOES OUR 5-STEP RETAIL READINESS PROGRAM WORK?
1. Our program is an evaluation service where we provide a questionnaire to you to determine if your product is ready to be sold to retailers. You complete the questionnaire and you email it back to us.
2. Upon receiving your answers, we will provide a YELLOW, GREEN, OR RED response. We give you a grade and that grade will either be a Green Light (meaning you are retail ready), a Yellow Light (meaning you have some work to do), or a Red Light (meaning you have a lot of work to do!)
3. You email us photos of your product in its package, your sales and marketing plans, your pricing schedules, your website, and the other “checklist” items we request. If you do not have some of these items, it means you are not Retail Ready.
4. We provide a list for needed changes or items you need to create and then you make those changes or create those items!
5. We can further assist you in making some of the needed changes if you cannot (additional costs apply)
WHAT DOES IT COST?
The program cost just $100.00 and includes a lengthy questionnaire for you to answer, our review of the questionnaire and our RED YELLOW GREEN light evaluation, and we provide a list of needed items for you to become Retail Ready. OUR PROGRAM DOES NOT INCLUDE OUR EFFORTS TO CORRECT YOUR NEEDED CHANGES OR TO CREATE THE NEEDED ITEMS. IT IS AN EVALUATION BASED ON OUR EXPERIENCE WITH WORKING WITH RETAILERS AND IS MEANT TO OFFER YOU A WRITTEN LIST OF WHAT YOU NEED TO DO IN ORDER TO BE RETAIL READY. WE DO NOT PROVIDE ANY VERBAL OR WRITTEN ADVICE AS PART OF OUR EVALUATION BEYOND A WRITTEN LIST OF NEEDED CHANGES.
You are now supposed to make the needed changes per our evaluation to become Retail Ready. If you feel you are not fully capable of doing so or need additional professional advice, we are available to provide help to get you Retail Ready. We offer hourly consulting to provide needed advice to monthly consulting services to help you should you have more significant needs. We also can create your needed collateral materials (sell sheets, price sheets, etc.) and even create a basic website for you! We will provide our fees upon request.
The goal is for you to truly be ready to approach retailers large and small. When you call on a retail buyer and are not prepared, you may not get a second chance to present your product to them. We have many friends who are buyers for major retail chains and catalog companies and they will tell you that they simply don’t have time to review the dozens of products they see each month. If you make a great first impression and show a retail buyer you are ready to do business, your odds are getting your product placed in their stores goes up tremendously!