Congratulations! You’ve brought your business to fruition. After years of daydreaming, you’ve created a company that you believe in, and your entrepreneurship has paid off. It’s an exciting time, but when it comes to business, there’s always another milestone for you to hit. You might be ready to transition your eCommerce business into a retail store or to hit it big with wholesale. The good news? You can see huge success with wholesale (if you take the proper steps to get there). However, it can be a tedious and time-consuming transition, which is why Koopslie Consulting helps coach businesses to wholesale success.
When it comes to preparing your product for wholesale, we have created a foolproof three-step process to make a splash in the marketplace.
Know Your Biz
The first (and most important) step is to know your business like the back of your hand! As a business owner, you have to know everything from A to Z about your biz. Not only do you have to understand your product, branding, and vision, but you have to take the time to really get to know the market and your ideal customer.
Get comfortable in the market that your product fits in! The more information that you have surrounding the market, the customer, and the pain points, the better you’ll be able to market your pitch to potential wholesale buyers. Your branding and key messaging should be consistent through all of your marketing materials so that every time somebody sees your product, they’re reminded of how awesome you are.
Prepare All the Things
Rome wasn’t built in a day, and neither was your company. Preparation is key when it comes to a successful wholesale marketing pitch. This step will give your buyer all of the information necessary to make an informed decision, and it’ll help structure your brand.
Koopslie Consulting recommends appealing, eye-catching, on-brand packaging. Not only should packaging help draw the eye of the potential buyer, but it should tell a brand story and protect the product as it sits on store shelves. Your packaging makes a huge impact, so every square inch should be put to good use. You will also need great sales and marketing materials, including a sales sheet and a line sheet. All of your sales and marketing material must clearly answer all of the buyers questions and get them interested in your product. The best advice I can give, is to look at everything you’re creating from the buyer’s perspective.
Do a market evaluation to make sure that your pricing is on point. Make sure that you’re making a fair profit on your product. During this stage, you’ll want to make sure that production and logistics are ironed out so you’re ready to fulfill wholesale orders. You will also want to gather a list of buyers that you want to work with.
Launch Your Product
So, your branding is on point, and your product is a must-have in everyone’s life. You feel confident that you’re ready to launch your product to the big leagues, so let’s go! Launch your product to the market and see if you receive any feedback. Shortly after this, you’ll be ready to pitch your list of wholesale buyers.
Provide your wholesale buyers with all of the information they may need, including marketing materials, how-to guides, pricing, and order forms. Make ordering and contact information as easy as possible for buyers.
Once you begin to see success, you’ll be ready to collect orders and send them to your new customers! You finally see momentum in the wholesale market, so celebrate and let the world know about your well-deserved success.
Being a success in the wholesale market may seem daunting, but if you know what you’re doing, you can grow your business really quickly with the proper tools and resources. For example, working with just one pharmacy chain can give you access to 800+ new wholesale accounts! This can grow your business overnight. Koopslie Consulting is an expert in the area of wholesale buying and dealing with pharmacy chains, and we are excited to support you on this journey to success.
One of our biggest points of advice is not to become overwhelmed with frustration or disappointment. Dominating the wholesale market will take time and effort, but it can be done – and we are here to help you! Once you begin to see success, you’ll be shocked at how awesome the wholesale market is.
For additional information about how to become successful at wholesale, download our Wholesale Readiness Checklist, visit koopslieconsulting.com and follow us on Instagram.