Anyone ever dealt with the big Companies?

[caroline]

Hi everyone

I hope to be approaching the big Companies such as Boots, Mothercare, ect to try to sell them a new baby product I am in the middle of obtaining a distributing licence for. I'd love to speak to anyone that has experience in dealing with the "big boys". Any advice would be much appreciated! I applied for a mentor from Business link months ago but am still waiting. :roll:

[puravida]

Drop me an email if you like?
Several jobs back and prior to my surfboard biz I used to be a National Account Manager for a big company sellign to Tesco, Adsa, Currys, Comet, B&Q etc etc.

J

[caroline]

Thanks J, am sending you a pm now!!

[Faith28]

Hi Caroline,

How did you 'apply' for a business mentor through the Business link. I thought you have to do it through your local enterprise agency.

I am part of the East London Small Business Centre. And coincidently have a meeting tomorrow with my mentor. I feel they are quite good. Although you get out what you put in i.e must know specifically what you want out of them for them to help you (obvious I know but sometimes I don't always plan my objectives during my meetings).

I live in Essex too which part of essex are you from?

Eiman

[caroline]

Hi Eiman
I'm originally from Ireland, but am now living in Frinton on Sea, with a shop in Clacton. Funnily enough, I got word today my mentor is being allocated to me..good timing! Here is where I applied for mine:
http://www.mentorsbynet.co.uk
Can't wait to get started!

[Tazuk]

Caroline

contact your regional development agency, I have received alot of help from mine including training, seminars and mentoring.

your agency is here.
http://www.eeda.org.uk/

[caroline]

Thanks!! I will go and have a look now. All help is much appreciated.

[daveashton]

Do your homework

Big companies are easy if this is done

i.e. put yourself in thier shoes and think about risk, margins, quality, volume, promotion etc.

Big companies evaluate risk vs reward. Take away any emotion and sell on facts not hearsay

[easyasit]

i would be reluctant to approach the big boys, they need unteen meetings to decide anything.
Have the one thing u don;t, time and money.

And will the lady dealing with kiddies things pleasse be careful, another mother was trying to market a spill proof beaker, took it to a big company. They turned her away and stole the idea.

Good luck otherwise

Al

[Tazuk]

Before you approach anyone get some good IP and a plan you should be ok.

[caroline]

Thanks guys, looks like I have a lot of homework to do! I'm going to try to find someone who knows their stuff to come with me so I don't feel out of my depth. The product is patented, but I know it will probably get ripped off over here. We will be offering them great profit margins so I'm hoping it will be easier for them to go to us rather than taking the trouble to rip it off. I will let you know how I get on when the time comes, thanks!! :wink:

[daveashton]

If you want one of my team to help with this just let me know.

[caroline]

Thanks Dave, just sent you a pm.

[tmp]

I have have fairly extensive experience dealing with large retailers and they are nothing to be afraid of, just people like you and me.

A few pointers that may help:

1) Go to a store and try to work out which aisle you product will fit best in and ask one of the store staff what they call that section of the store (they will call it a category). The more senior staff will know, avoid the people just filling shelves.
2) Call the head office of the company and ask for the contact details of the buyer for that category. It is unlikely that they will put you straight through, but if they do be ready.
3) Preapre a sales pitch in powerpoint, it should contain the following:
- where in teh store you think you will best merchandise your product.
- why your product will sell (a bit of research on consumers would help a lot)
- what is the suggested retail price point.
- what is your price point
- how many units do you thing you will sell (this is unsually calculated in per store per week numbers)
- how you will market your product to consumers and bring them into the store.
4) Most buyers are approchable, especially if you have a new idea. you should be prepared to answer the following questions:
- what will your trading terms be (delivery, payment, discounts, etc)
- can you supply (what is your capacity for supply like, retailers hate to be out of stock of something that is selling well)
- what is your insurance like for product liability
5) A few retail tricks to be careful of:
- exclusivity, most retailers love exclusive products that sell well. if you don't want to give exclusivity you usually don't have to. Sometimes with big retailers it's not a bad thing though.
- Sale or return (consignment stock) be careful this can be extremely expensive.

I know this sounds daunting, but when you sit down and write it you'll see that it's really quite simple. Above all remember that teh buyer is just a person doing a job, like you and me.

I know this is probably a bit long winded, but I hope it helps.