General Manager & Food Expert (Pre-revenue up to Fortune 25 companies), Specializes in Organic, Natural, Sustainability and Social Change.
Everyone loves your (fill in food here) and says you should sell it. Have no idea with to start? Looking to change the world AND make money with your business idea? With 15 years in food and 8 years running my own business, I can help get you started while avoiding the potholes early on.
Most small brands use outside brokers as sales reps. The type of broker you need varies greatly depending on the volume you are looking for and the capital you have to support expansion. You will need someone to actively manage the brokers to get their best performance and that person should be either internal or contracted if you don't have the expertise in-house. Please let me know if you'd like any recommendations. Happy to jump on a call.
You'll need to provide some level of detail to get answers from this group.
- Consumer retail or wholesale foodservice or ingredient?
- Do you have a competitive advantage that is easily communicated?
Happy to provide some direction if you can define the scope a bit.
First question: What are the ramifications of this company not selling your product; monetary or perspection? If you are ok dealing with the impacts then...
Second question: Are you under contract with this company? If so, is there an exclusivity or termination clause? If no exclusivity, sell away. If there is a termination clause, is it performance-based or just providing notice? Execute it. If you aren't under contract, let them know that you've decided to take the product in-house and that you will no longer be selling them the product.
Keep in mind that you will always be more passionate about your product then anyone else. You are going to be forever disappointed if that is the standard you hold other companies to.
Quickly answer this question...did you start working on your idea to build a business or create something to sell right away? The answer should tell you where your passion is. Passion is what gets you through the rough spots (as corny as that sounds).
No matter what the answer is, the next step is to study these competing services to figure out what your compelling point of difference is. Improve your product based on what you find. If you choose to try to work jointly, you'll be on favorable terms coming into the discussion. If not, you'll have something that works better than the competition.
The call with Todd was extremely useful, packed tightly with critical information that might take hours or days of research. Very well worth the time, I highly recommend him, he's worth every penny!