Loading...
Answers
MenuWhat are the first steps a new company with a market tested product should take to get into (UK) retail stores?
My business partner and I have created a dietary supplement product, got a small batch produced and garnered initial sales through online communities. We now want to take the product mainstream and get it stocked on retail shelves in the UK, and soon after in Australia and the US. Besides the numbers we need to know, what is the best strategy for getting our product on store shelfs across the UK?
Answers
That's a great question.
First, congratulations for bringing a nutritional product to market and getting initial sales. That's a huge feat in itself, so well done.
Second, my question would be this - why do you believe that you need to get on the shelves of UK retailers to go mainstream? And what criteria are you going to use to determine when you have realized your goal?
Considering trade marketing costs (avg manufacturer spends 30% of revenues on this - aka paying to be on the shelves, etc...), your production costs and your profit margins, I would question if expanding to an instore model makes sense.
How much funding do you have? What are the goals of your business?
First, research competitors in your space and find out how much capital they have to play with. Chances are if you get instore distribution, it will be out-of-sight or dwarfed by larger competitors.
You may face issues ramping up production rapidly to meet the number of products you need to have in their stores.
And what are the payment terms? Do you have enough resources and cash flow to support production, distribution and wait potentially 30, 60 or 90 days to be paid after a store has moved your product.
Lots more off the top of my head, all pertaining to the main question - what are your goals and why do you believe you need to go instore to achieve them?
Happy to chat anytime. I love marketing and eretail, tho I've never worked in the medical/vitamin products space.
p.p.s. As a piece of homework, research other vitamin or food products companies who have exclusive online distribution. You may be surprised what you find. Best of luck!
Speaking from inexperience (since I don't stock dietary supplements), I'd recommend two things:
(1) Establish your brand presence online first.
(2) Produce a consistent sales track record, converting leads to shipments through your sites.
With a professional looking brand ready to go and convincing sales data to point to, why wouldn't retail stores want to include you?
The approach I'm suggesting would involve a number of components -- from graphics to web design to written content to a brand name and domains for lead generation. Personally I can provide answers for only a few of those areas; and, of course, I have no idea how far along you are already.
Use your feet. Walk into as many retailers as you can and show them who you are. It's as much about you as it is the product.
Related Questions
-
What are average profit margins in Ice Cream store business?
Hi! I am owner of an ice crean chain with 45 stores in Chile. We have stores in shopping centers, streets and also karts that you can put in events and parks. The average cost margin of ice cream (depends on the amount of materials you use in producing the ice cream) is around 40%. This is italian gelatto where you serve the ice cream without a specific measurement so your costs can vary due to the size of each portion you serve. About the brand you should focus on your unique value proposition and what kind of ice cream you are selling. We import the pastry from Italy and the fruits and milk from our country. Your ROI depends on your sales price and costs. If you focus on high market ice cream you can charge high and keep costs down.MF
-
What do (bootstrapped) startups offer to new sales hires? Commission only? What are some good examples to keep people motivated and still survive?
Generally bootstrapped startups should avoid salespeople, for a few reasons: a. they typically can't afford the base and overall comp required to attract sales people who can actually sell / or afford to support them with marketing, management, etc b. it will be very difficult to find the rare person with the right mix of sales and startup DNA along with the critical domain knowledge, consequently the startup is likely to settle c. the founders need to be very involved in the selling and customers will demand it That said, if the plan is still to hire a salesperson, find someone who has demonstrated sales success in startups and is excited by the early stage in company building. Create a comp plan heavily leveraged on sales results (unless you are in an industry where 100% commission is a common practice, would recommend against $0 base as this creates the false impression that your hire isn't passing time with one company while looking for another job with a richer comp plan - you want your rep focussed). Sell the vision and opportunity to be part of a growth story. I have written a several blog posts on hiring sales people into start-ups. You might find these useful: http://www.peaksalesrecruiting.com/ceo-question-should-i-learn-to-sell-or-hire-a-sales-person/ http://www.peaksalesrecruiting.com/start-up-sales-and-hiring-advice-dont-stop-selling-once-you-hire-your-first-sales-rep/ http://www.peaksalesrecruiting.com/hiring-start-up-sales-reps/ http://www.peaksalesrecruiting.com/startups-and-salespeople/ Good luck!EB
-
What advice do you give to a 16 year old entrepreneur with a start up idea?
First, hat tip to you for being a young entrepreneur. Keep it up! If you have the funds to build out your MVP, hire a developer and possibly a mentor. If your idea is marketable, you don't need to give up equity by bringing in a co-founder. If this is your entrepreneurial venture, I would recommend you do retain a coach to help you see all the things you may not know. Have you already done your SWOT analysis? Have you identified your target market? What is your marketing plan? What will be your operating expenses? There are lots of questions to ask. If you would a free call, I'd be happy to help you in more detail. Just use this link to schedule your free call... https://clarity.fm/kevinmccarthy/FreeConsult Best regards, Kevin McCarthy Www.kevinmccarthy.comKM
-
How do I sell iPhone cases and make a profit out of them?
Selling any product including "iPhone cases" on websites with high competition like Ebay is surely not an easy mission. There are hundreds of sellers on Ebay and other websites who are already selling cases. If you need to get some sales, you need at least one of the following: 1. High reputation, reviews or feedbacks on the website that you are selling on. 2. The product that you are selling must be unique in some way or simply not found anywhere else. 3. If your products are featured at your own website, then that website of yours must be ranked properly online and marketed decently around social media networks. In your case, a possible approach would be to create your own website to sell your products on or work as an affiliate marketer for other big sellers in exchange for commissions. Depending on your budget, you need to draw the right plan around. If you have a good budget to invest in your business, then creating a website for yourself is a must. Otherwise, you need to rely on other websites and seek to provide unique or special products to get an edge around. Hope that helps!RZ
-
Whats the best way to find commission sales reps?
This is not my specialty, however, I have been in your position many many times -- maybe this will help. If the product is in-tangible, then look for JV partners on the Internet. Try to find an expert that deals with these JV opportunities (like me). If the product is physical, then look for sales organizations that have networks of sales people across the country. You do the deal with the organization and the independent network of sales people sells your product. It's a sweet setup if you can negotiate a margin that works for everyone. Hope that helps - Cheers - NickNP
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.