Webinar 16

Being Retail Ready

• Mastermind Dates

• NEW Movie Of The Month!

• Pitch Challenge Results

• Where to email for support

• support@youthinbusiness.com.au

Housekeeping

Mastermind

• Gold Coast

19-20 Jan

‘Mantra On View’

• Sydney –

23-24 Feb

‘Mantra Parramatta’

Josh Apitz

• Seagull Milk Started

Production

Example of the Week

Movie of the Month

The Ultimate Gift

Challenge Leader Board

Heaton Family

Most Sales $20 Challenge

Lewis Family

$20 Challenge Video

Heaton Family

Contact Someone Famous Challenge

Sarina

Most Sales Pitch Challenge

1. Welcome webinar

2. Refining your idea

3. Selling to people and getting paid

4. Understanding sales and numbers

5. Perfecting Your Pitch

6. Sell it before you build it

7. Goal Setting

8. Selling At Markets

9. Creating An Outstanding Flyer

10.Understanding Your Target Market

What you’ve done so far 11. Introduction To Facebook

12. Getting Your Business Online

13. Creating Your Brand

14. Wholesale Vs Retail

15. Getting Into Retail

Webinar 16

Being Retail Ready

Quick Recap

From The Last

2 Weeks

Putting it all together • Introduction to Retail

• Understand your

competition

• Introduced the main

players

• Vendor Departments

• Retail Buyers

• Retail Brokers

• How to contact them

and how much it cost

• Whole sale Vs Retail

• We discussed the

differences

• Explained how pricing

worked

• Showed you the

wooden toy example

• Make sure you

understand your

numbers

What do you need to know

if you get a meeting?

Don’t Be This Couple

Old Saying …

Retail is in the detail

• When Preparing to meet with retail

buyers

• They will ask you heaps of questions

• You need to be prepared, you may not

get another chance to pitch your

business or product

Getting your Pitch Right • Revisit the webinar on pitching

• Things to consider are

• Answer the question, “What's in it for

them” - the retail store

• E.g. What type of new clients will your

product attract?

• Because your product is outstanding

you will bring in more revenue

Getting Your Pitch Right • Over come the retailers risks and

objections

• Think of some possible risks that your

product and business might be to them

• Have solutions to the potential

problems they might see

• Perhaps you could offer a special

marketing campaign to drive people to

their store

Getting Your Pitch Right • Be Prepared

• Do your homework – know all about them

and their store and what products they

have on the shelf

• Know where your product is selling and

how much you are selling

• Know the market trends and statistics for

your products

• Have testimonial and recommendations

Other things You

will need to

know?

What is your turn around time?

• How long does it take from when the

store orders to when you can deliver?

• They need to know this because they

don’t want empty shelves

• Think about how you will deliver your

products

Compliant Packaging • This is one of the most important things

• Each store will have slightly different

requirements

• It can pay to go through the vendor

department process to see what they

want – most times this is online

• Barcodes – GS1 Standard

– http://www.gs1.org/10-steps-to-barcode-

your-product

Product Pricing • Must meet the retailers profit margin

• They will try to negotiate a lower price

• They will expect you to have a pricing

structure sorted before the meeting

• Know your wholesale and suggested retail

prices

• Share examples of previous arrangements

Customer Service ProceduresYou will need to show them how you deal

with the following:

• Returns and defective merchandise

• Customer complaints

• Warranty rules around your product

• Have a written procedure you can

show them

Exclusivity • The retail company may ask you to sign

an exclusivity contract

• Be very careful with this

• As you might not be able to sell anywhere

else

• However if they are willing to sign a

contract for large orders over a set time…

it could be worth it

Website and online presence

• Make sure that your website and online

presence are set up

• Be able to show:

• The following you have on social media

• The traffic and sales of you website

• The size of your list and the results of

your email marketing

Marketing • Retailers will expect you to be actively marketing

your product

• You will be expected to answer how you are

going to continue to market your brand

• This could be via social media, email marketing,

trade shows, Public relations, etc.

• They may take an allowance for marketing before

they pay you- so they can include you in their

store marketing

The Ability to Scale • How big an order can you take

• 100 units – 1,000 units – 10,000 units

• Can you scale based on demand?

• How much money would you need to

fill an order of 1,000 units?

• When would you get paid?

• How long would it take you to deliver?

Starting Small • It might pay to start small

• Perhaps look at a few local independent

stores

• This will help you to understand the process

• It will help you to know how to work with

retailers and what they want

• Plus can be an example & provide

testimonials

Kids Biz Retail

Success Story

Morgan Hipworth

• Morgan always loved to cook

• When he turned 14 started ‘Bistro Morgan’ a

business run out of his garage supplying cafes

around Melbourne with his range of cakes,

slices and specialty donuts

• Supplies 13 cafes with 700 donuts per week

working up to 50 hours per week in his business

Morgan Hipworth

• Last year Morgan had a pop up donut store

selling 10,000 donuts in one week!!

• Now at 15 Morgan is setting up his

first ever shop

• He will employ 2 full time bakers & staff to

run the shop including his Mum

Overview

1. Being prepared for retail meetings

2. Getting Your Pitch Right

– What’s In It For Them?

– Know Your numbers

– Testimonials & recommendations

– Overcome objections

3. Turnaround Time

4. Compliant packaging

5. Product Pricing

6. Customer Service Procedures

7. Exclusivity

8. Website & Online Presence

9. Marketing

10.The Ability To Scale

11.Starting Small

12.Morgan Hipworth Retail Example

MERRY CHRISTMAS FROM OUR FAMILY TO YOURS

2019 webinars

commence

16th Jan