How to prepare your retailer pitch
Pitching to large retailers can be incredibly daunting, particularly for inexperienced small business owners. If you’ve ever watched Dragons’ Den or The Apprentice, you’ll be familiar with the trials and tribulations of the pitching process (albeit in the name of entertainment!). But these programmes do give you a flavour of what it is like to face potential investors or buyers, and the breadth of questions you need to be prepared to answer on the spot.
Learning how to pitch successfully is a crucial skill because getting a foot in the door with retailers can catapult your business growth. So, how can you ensure that you make a great impression and stand out from the crowd?
We are absolutely delighted that Sophie Conran, daughter of Sir Terence Conran, designer, cook and author, is here to share her top tips for making your pitch to retailers:
- Do your homework: Find out as much as you can about the person/people you are going to be pitching to and be especially sure that what you have to offer will meet their criteria.
- Deliver a professional presentation: Try to make your presentation as logical, professional and attractive as possible – it needs to be informative and engaging.
- Know your numbers: They will ask you lots of questions such as price, minimum quantities, lead-time, payment terms, manufacturing process, margin, projections and they may expect a discount. You need to anticipate the questions and know the answers to all of them and more. Know your product inside out and back to front.
- Be open to feedback: Lastly, be friendly and listen to their advice – they may have very valid and useful points to make.
A huge thank you to Sophie for generously sharing her valuable advice and experience. Sophie has had an incredibly successful career and is well-known for her kitchen and homewares, and also for her collection of recipe books. To find out more visit: www.sophieconran.com