How To Pitch Your Brand to A Buyer

The keys to pitch any product or service are knowing your competition, knowing your margins, producing your products with people or contractors who know what they are doing and live your brand! Read more to have a better understanding on how that looks.

 

KNOW THY ENEMY:

If you are unaware of what other brands in your market are selling are doing, you should take a good look around and see if you have anything better to offer them than what retailers are buying. Make sure you are the best. You don't have to be the cheapest, but your quality and customer service must be worth the extra investment.

MARGINS:

Most retailers want a discount from the wholesale before you even call them. biggest reason is store wide sales at 20% off. Knowing what you can and can't afford is key and having volume tier pricing is crucial to hold the line. Best practice is keystone (100% market up actual production cost) and add 20-30% on top of that to cushion. A great app to help with this is iMargin and best practice is to set it a 65% margin.

 

HIRE THE BEST:

Working with the best contractors or even employees may cost you a little more money upfront, but in the long run, it will ultimately make you more money in the end. Professionals know the details of how things work in the industry, so when you go to produce a PO worth $260,000 to a large retailer and they reject your order because you didn't have the correct hang tag with their barcode info on it that was being managed by your supplier, you will not only lose a relationship, but all that time and valuable money will have been wasted. This is one of the many issues that can be avoid with working with the right people.

 

BE THE BRAND

If you own, you better live it! People want to love the culture or the idea behind what you are selling. This business is about building relationships and  having an image that you want others to adopt for their own so be it! Post it! Share it! And invite others to join you too so when you are in front of a buyer for a major retailer, you will know the answers to what they ask and leave them feeling confident that you what their customers want and will be in able to continue your relationship for years to come.