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Are You Ready to Grow Your Business?

Are You Ready to Grow Your Business?. ARE YOU READY TO GROW YOUR BUSINESS???. The key to manufacturer health and longevity lies in the correct groundwork in early stage growth. Are you at a turning point in your company?

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Are You Ready to Grow Your Business?

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  1. Are You Ready to Grow Your Business? ARE YOU READY TO GROW YOUR BUSINESS??? • The key to manufacturer health and longevity lies in the correct groundwork in early stage growth. • Are you at a turning point in your company? • Brand new company, need to get word-of-mouth, build momentum and customer base • Entry level company, need to secure shelf space in local community specialty stores • Saturated local market, need to move regional • Saturated regional market, need to move national • Received award, press, etc & can leverage to build sales • Help narrow down the type of food show that is right for you (consumer vs. trade) • Create personal show related goals that tie into your business plan; no two shows are the same

  2. Are You Ready to Grow Your Business? • The key to manufacturer health and longevity lies in the correct groundwork in early stage growth. • Are you at a turning point in your company? • Brand new company, need to get word-of-mouth, build momentum and customer base • Entry level company, need to secure shelf space in local community specialty stores • Saturated local market, need to move regional • Saturated regional market, need to move national • Received award, press, etc & can leverage to build sales • Help narrow down the type of food show that is right for you (consumer vs. trade) • Create personal show related goals that tie into your business plan; no two shows are the same

  3. Develop Your Success Story • Visit the marketplace • Understand your category within the marketplace • Profile the competitors and how your product compares • Identify key potential customers – and affiliates • Build a compelling story about why your product belongs in the market

  4. What Channel of Trade are You Targeting? • Research the industry. • There is no perfect one-size-all plan that fits the growth of all companies. • Many companies start at farmers markets, selling online, selling at local specialty stores and then moving into supermarkets. • When to add a distributor and brokers into the mix is complex. • Foodservice is a complex channel of trade but can be a very successful channel for some specialty foods

  5. Do You Have Manufacturing Capacity? • Are you ready to make a deal? • Take a step back. One of the biggest mistakes you can make is accepting a deal with a buyer that you are NOT ready to fulfill properly. • Before you sign on the dotted line, make sure • Your pricing is right and margins have taken into account future growth of your company to include a distributor and broker . You can lock in a price when a young manufacturer that won’t make sense as you grow. • Your factory or co-packer can continue to support this level of production

  6. Questions? Specialty Food Association 136 Madison Avenue New York, NY 10016 www.specialtyfood.com Ron Tanner Vice President, Philanthropy, Government and Industry Relations rtanner@specialtyfood.com

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