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You have your product idea and a plan to produce it. Let’s use hot sauce as an example. Your product is on the shelf with many other brands and different varieties within those brands. To illustrate, as a consumer, there are so many different hot sauces to choose from. You need sales. How are you…
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What’s the difference between margins and mark-ups? Which do you use, and when? Simply stated if you’re a packaged food/taxable grocery brand, you should use margin, not mark up. Why? Because that’s what stores, and distributors and brokers and wholesale buyers use. You need to be speaking their language, because when a business analyzes their…
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What are they, and how they’re different from consignment sales, why you might offer them, what products they’re best suited for, and 2 tips for implementing a guaranteed sales offer that’ll keep you from screwing you over and costing you a lot of money. Guaranteed sales: you’ll be buying your product back from the store…
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If it’s your goal to sell your product, in large quantities, to retailers and distributors, or if you have dreams of getting your product into the hands of more people, let’s get your product ready for wholesale. We’ve seen too many businesses enter the wholesale journey ill-prepared. Ultimately, that does more harm than good. There’s a…
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You’re ready to start your packaged food business and now you have a lot of little loose ends to tie up. Let’s talk about profit margins and pricing for profitability. It’s critical to make sure that you price your product for profitability. There are four common mistakes that packaged food business entrepreneurs make when they…
