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How to take the product to retail store
When you offer a consumer product, you need to decide if you want to sell it in a retail store or online. After establishing our brand and strong following, my company started online for the first two years and then started going to stores.
To help you resolve the same issue, here are some pros and cons of going wholesale:
Pros:
- Rapid movement of your product
- More cash flow with larger orders
- More consumer access
- Brand expression
Cons:
- Cut your edges in half
- Spends a lot of time managing and interacting with stores
- Provides less control over branding
- Getting a store is more of an investment than getting an individual consumer.
A step-by-step process for retail store
One idea is that you do not have to go to a large number of stores. If you are concerned about brand safety, you can build a better relationship with a chain and offer a unique deal. However, if you are ready to go shopping, here are some steps to follow:
Establish your terms
There are certain terms to be prepared for when a store asks you out. Here are the questions stores ask:
- What is your minimum opening order? Minimal reorder? You can set these minimums based on unit order or dollar amount. But, when you sell at wholesale price, you want to install the minimum so that you can offset the cost with the volume.
- What are your payment terms? It was customary for us to pick up the invoice at the store when the order arrived, but after a few burns, we changed the terms of payment when ready to ship. After payment, we send it to the customer.
- How do you send it? Do you offer insurance? Decide how you would like to charge for shipping and which carrier you would like to use.
Create your line sheets
Your tax returns, your first impression of the store, should include:
- Company Overview
- Terms (see description of the terms above)
- Instruction instructions
- Product list, with:
- Wholesale price and MSRP
- SKU number and product name
- Size and variations
- Any additional product details
Upgrade your site to show you wholesale
Don’t forget to add a whole tab to your site so people know you are providing it. Add a contact form to fill in the details about the shops themselves – information that will allow you to send if you think line sheets are a good fit.
Once you start getting stores, you can also put a list or map where people can see your product’s in-store locations.
Contact local buyers
Now that you have set your terms and prepared your line sheets, start with the local companies that are best suited for your brand. Try to get a buyer’s name and schedule a meeting where you can bring samples and discuss the brand.
The first few stores of Hot Bands of Hope have always been in practice, because I walked with headbands and asked to talk to the buyer. I was so confident that they would sell, I offered an inventory contract to the stores to test them
Attend trade shows
Trade shows are an investment, but can also be a great ticket for a lot of stores and big retailers. As a fashion brand, we attend the Mart & Accessories event in the United States. Stores come to your booth and learn more about products and write orders at the event.
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