Did your special spicy pickles sell like gangbusters at the school fundraiser? Does everyone beg you to bring your crunchy coconut granola to their dinner party? Are your oatmeal raisin cookies always the hit at the church potluck? With the ever-increasing demand for natural foods, and more customers than ever willing to pay more for them, today is the day to use those old family recipes to fatten your bank account.But as with most things, turning your kitchen into a moneymaker is easier said than done. The path to retail success is strewn with obstaclesWho is your target market? What sets your product apart? What’s your perfect price point?unless you have the guidance of someone who’s been there and done that. In Recipe for Success, natural foods specialist Abigail Steinberg has provided for you the benefit of an expert’s in-depth experience, taking you from initial concept of an idea to cashing out, and covering everything in between. Learn to:• Package and launch your product• Work effectively with distributors• Win the fiercely competitive battle for store placement• Prepare for trade shows• Negotiate broker partnerships• And moreMake no mistake: the natural foods industry is not user-friendly, but with this indispensable guide you can avoid the commonand highly expensivetraps many start-ups fall into . . . and make your dream business a delicious reality.
|Product dimensions:||6.00(w) x 9.00(h) x 0.63(d)|
|Age Range:||18 Years|
About the Author
ABIGAIL STEINBERG began her career at Zevia, helping it become the fastest-growing natural product in the country. She has worked as a successful consultant and senior manager in the natural food industry for almost a decade.
Read an Excerpt
You have the greatest new natural product, and it is sure to be a smash success! Your friends can’t stop talking about it, so grocery stores across the country will never know what hit them, right? Before you risk thousands of dollars, though, bringing your product to market, keep reading. With this book I will show you how to navigate common problems, emotional pitfalls, and highly expensive traps that start-ups fall into and remain in on the path to success. a have seen firsthand the many mistakes natural foods manufacturers make when trying to get their new product onto store shelves, costing themselves millions of dollars. For example, launching a product so similar to competitors’ products that customers cannot tell the difference. Changing Universal Product Codes (UPCs) midlaunch and losing every account the company worked so hard to gain. Pushing a product that did not sell, slowly bankrupting the manufacturer. I don’t want you to suffer the same self-inflicted wounds.
Others will try to wound you themselves. Buyers, stores, employees, distributors, brokers, and brand ambassadors all love new products, and surprisingly that is true even when a new product fails. Why? Because all of these players skim cash from your product. You will be encouraged to spend an exorbitant amount of cash on slotting fees, ads, MCB (Merchant Charge Back) and OI (Off Invoice), distributor setups, free-fills, brokers, demos, marketing, promotions, trade shows, table tops, mail outs, samples, and much more without actually increasing your sales. And even if you do, these players couldn’t care less if you didn’t see a penny yourself. I want you to, though.
The first few times that I encountered these mistakes, I thought, “This can’t be normal.” But when I saw them over and over again it left me wondering why new product manufacturers kept making them. In my search for an answer I discovered that there is not a single field guide to entering this trillion-dollar industry and traveling safely through its labyrinthine distribution channels. True, plenty of general business books exist. They explain strategy and global expansion a describe retailing and distributing, and discuss budgets and time management. They show you how to run a business in general, but not how to run a business in any specific industry. This book, however, gives you the secrets to running a natural foods business, including the following:
Determining which retailers to target
Finding brokers you can trust
Developing an advertising and marketing plan
Crafting an exit strategy
Who am I to write this book? a am not perfect, of course. I have made mistakes. Better you learn from mine, though, instead of your own. If you can see your product on the shelf, then so can I, and if you have a dream, then let’s dream big. Why not? Many have entered the natural products arena and come out as millionaires, whether they sold out to a competitor or secured venture capital money and became major players themselves.
Table of Contents
CHAPTER 1: Your First Step 1
CHAPTER 2: Bringing Your Food to Market 7
CHAPTER 3: Locked & Loaded: From Concept to Retail Ready 17
CHAPTER 4: Distributors: A Necessary Partnership 35
CHAPTER 5: Shelf Space: How to Own Your Retail Shelf Space 67
CHAPTER 6: Brokers: What You Need to Know 95
CHAPTER 7: Trade Shows & Table Tops 115
CHAPTER 8: Free-Fills, Demos, Ads, & Discounts 125
CHAPTER 9: The Game Plan: Stay Small, Get Bigger, or Sell? 135
CHAPTER 10: The Summit: Crossing Over to the Mainstream Marketplace 151
About the Author 178
Most Helpful Customer Reviews
A perfect guide for entrepreneurs to get their products to market. It really inspires you for whatever you want to do in life. It's fun to read and then reread. I have many notes and stickies all over this book for reference too.