So today has been a HUGE day for me.
I started a niche women's sportswear brand in 2015, and for the last 5 years I've been really focusing on direct to consumer online sales. This year I felt like it was finally time to take it to the next level. One particular store overseas reached out in February but due to Covid we had to delay some things, today they finally placed an order of 400 pcs which is huge! This is just ONE local store out of 1000+ total stores this retailer has around the world.
So how can I use this opportunity to scale into many of stores within the next couple of years?
I need advice on things like:
– I'm a one-man show, how would you recommend handling things if hundreds of stores were to want to carry my line? Should I hire someone, and if so what type of experience should I look for?
– Product displays: What types of displays would be the best to provide to retail buyers? Just regular display stands like this? I'd prefer something much bigger and nicer, but it would be super costly.
– They wanted Net 60 terms on the order, but I told them the first order I would need 40% deposit and they can have net 60 on the balance. Would you say it's a good idea to give them a full Net-60 on future orders?
– How can I leverage this one store into getting the product into multiple stores for this retailer? I'm not sure if they have rules, but the store manager contacted me to make the order. Should I tell him I can give him a bigger discount on the next order if he can get our products into 10 more store locations in different countries, or would that sound desperate? Not sure the best way to go about it.
Any advice or guidance would help here. Really exciting times but very nerve wrecking dealing with the retail world now, not just ecommerce.
TL;DR: E-Commerce brand for 5 years, and just got my products into a big retail store (just one store, but retailer has thousands around the world). Looking for guidance on the best steps to take moving forward.