Your Foot In The Door Through Consignment
Dr. Kevin Nunley
It is hard to get a product in stores.
Retailers have limited display space and don't like to make room for companies
with only one item.
Consignment can help you get your foot in the door. Because the retailer
doesn't have to pay for your product until it sells, they don't have money
tied up in inventory.
On the down side, store managers won't push consignment items as hard as
they will items that have to be paid for in one or two months.
Your first product may have to be especially good, carry a great price, and
have eye-catching packaging to get attention tucked away in a back corner
of the store.
Once your product starts to sell, switch to 60 to 90 days payment. Later
you can jump up to 30 days. By then your product will have become a proven
winner and you will have earned your place on retail shelves.
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