Friday, August 17, 2012

How would somebody approach a huge retail store about selling their product? -

This question is on behalf of a friend. She designs and makes a variety of girl s accessories, sunglasses, earings etc... At the moment she sells to a number of small boutiques and independent outlets but is considering approaching larger retailers. What would be the usual route for someone in her position? And no she does not want to go on Dragon s Den.

She needs to make an appointment to see their buyer, or the buyer(s) for the relevant departments, eg the girl s accessories buyer.This is going to be tough. Buyer s are innundated with such requests so you are going to have to persevere.When you have an appointment you need to be credible. All the things the Dragons look for on TV will be relevant. You need to have samples of the goods, with appropriate certification. You need to know what the price will be and what discounts you will offer for bulk purchases. You need to be sure that you have the manufacturing in place if an order is placed for a large quantity. You will need to be prepared for large retailers to expect to pay up to 90 days after delivery (so you need a good bank loan to cover cash flow). You need to be able to deliver where and when they want, possibly in packaging that meets their requirements. You also need to be aware that most of these decisions are made months if not years in advance. Buyers are likely to be looking at next summer at the earliest.Finally, and probably most importantly, make sure you get a proper contract / written order before you commit any unnecessary expenditure. Large retailers (and small for that matter) do not make gentlemen s agreements. If there s no name on the dotted line they will have no problems in leaving you in the lurch.

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