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Old 12th May 2010, 10:13 PM   #1
wjp09
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Join Date: May 2010
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Default What Do You Think Of This Business Plan?

Hello, I have thought about contacting local stores that cary merchandise similar to what I have.
I would either like to sell to them directly, say X number of pieces for Y dollars each. OR Do A consignment where I stock them and they sell them in the store and we divide up the earnings.

I have the email addresses and phone numbers of local stores but I'm not sure exactly what to say. I feel like an email would be the way to go, and in the email I can leave my contact info.

What should be said in the message? That I have a business opportunity to discuss with them? What are some good terms? I am going to be selling Fitted Hats that I get for $8. I can see them selling for up to 30 but I would settle for $20.

Thank You in advance for your responses.

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Old 13th May 2010, 10:46 AM   #2
Biz Optimizer
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Default PLAN before implement

This is more of a business idea than a business plan. If you have a business plan - you know what your REAL margins are and you've thought of your marketing plan - including path and talking-points/elevator speach. And if you aren't the right person for ALL these functions - you need to find someone to help with those parts of the PLAN.

Too many try to jump from idea - to business - without a plan. In order to give your idea the best chance possible - give it a plan. Planning comes first - maybe some initial testing/adusting. But don't skip the important parts thinking you can wing it - or expect the results that a 10% effort probably bring.

No one is going to have enough information to give you rational answers to your questions - you need to do the research - find those with answers - build your foundation before you start building your house.

Often people think they can sell a product for 10 that they bought for 5 - but when they add in all the overhead that wasn't considered - they lose on EVERY sale. It can get expensive.

Good luck.

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Old 18th May 2010, 04:14 AM   #3
taat.pringist
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Default About this business plan

Hi, I would argue from my experience that the main problem is not a business model or idea, but getting contact with purchase managers. I'am not familiar with your local conditions, but often this is a very closed circle. Do not start from emails, just make some phone calls to get a feeling.

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Old 22nd June 2010, 02:35 PM   #4
footprintsmusic
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Default

I think planning is a great suggestion. Even just things like, what will your return policy be or what is your responsibilty regarding returns? How much product will you be able to carry? How will it arrive in a store? Who pays for the shipping ( I realize it's local but can you deliver large orders? Will you drop ship?? What's the minimum order quantity? Will there be one? Where is your product made? Specific consignment terms. Is your profit in dollars worththe time/effort? A question I fudged over about when I started my business.


I used to sell musical instruments and when someone came into my store unprepared I wouldn't work with them. The headaches in "training them" far outweigh the benefit of their product. I would also bin any emails that I didn't sign up for. I think face to face is the best approach then they will get to see your passion for your idea, something that is very difficult to convey in a letter of email. If they are local then you'll be able to say "you're in the area, you get their business" which is something an email can't convey.

Which ever method you chose I would recommend the "what's in it for them?" be the main focus.

Okay, there's a little babbling going on there lol. Good Luck!

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