I'm going to do my first 'cold call' HELP...?

Question

I've got this product I make. They are "Magic Fairy Gardens" (you can see them at www.magicfairygarden.com) anyway, I'm going to go to a couple local gift shops and see if they'll keep put my product into their stores. I charge $15 for each of them. What should I charge the store? Do I have to give them net 30 or 60 or something like that? I need some help getting prepared for these calls. What do I say when I go in there (I'm quite shy). OH... Help me... I'm getting myself all worked up over this...

Answer 1

The first thing that you should do when talking to people is to ask questions. If you immediately start talking about your products without knowing the exact situation that the prospect is facing, you will get a big NO.

So start it with questions:

"Hello, good evening Mr.Prospect. I'm Mr.XYZ calling from ABC company. Do you mind if i ask you a couple of questions"

Your first question should be like this.

Next, this is what you should do:

Have you ever heard of "YES Questions" technique?

Whatever questions that you ask your prospect, there would be only one answer, which is YES.

"Mr.Prospect, do you have a family?"

"Do you love your family?"

"Will you help your family to have a better health?"

"Have you ever heard of cancer?"

"Do you know how dangerous is Cancer?"

"Do you know that Cancer can effect anyone including You and Your FAMILY?"

"Would you like to know how to prevent Cancer from effecting your family?"

These are the few examples of YES Questions that will only have YES as answers. But before that,make sure that you know some facts about the prospects.Then only you can ask questions based on the facts and get YES as answers.

Ask 7-8 YES questions straight. Start it from general to specific.Studies have shown that, the more YES you got from prospects,the more you increase the desire of the prospects.Finally ask a buying question .

Good luck.

Answer 2

you definetly should give them terms of some sort, you also need to be prepared to give them a discount, as they are going to want to make money off of the fairy gardens as well.  I'd go in with a detailed report of who you customer is, and why you think your customer would or does come into this particular store.  I would also be prepared for a no answer, if you're prepared for it, it won't be so bad once you receive it.  You will receive no's, but the yes's will make up for it.  Also, visit the store before you go, so you have a general idea of what the stores does and maybe what their busy times are.  The decision will have to be made by the owner, or the manager, so possibly calling first to make a pitch may be a good idea. Just a few thoughts.  Good luck!

Answer 3

Being a small business owner glensfallsfife.com AND shy I know how you feel.  All of this is in my opinion of course - start with price, if you charge 15, that is probably what you want the store to charge.  I would sell them to the store for much less and see how it goes.  You could sell 2 of them yourself for $30 or the store might move 20 of them (your cost $7.50 - making you $150.

I recently did this with a couple music shops...one place laughed at me (that does not help - but expect it - it's ok there are others, learn what you can from that situation and apply it to the next one)  Net 30 should be plenty of time as it is the standard business billing cycle - however - at first, try the consignment approach with them (no charge to the store until they sell one - then you bill them for the price you came up with that is less than $15).  Don't be afraid - you have a great product although not everyone will think so.  Keep with it and keep trying!

Answer 4

How much does it cost you to make them (including your time at minimum wage?

Just from looking at them and reading the description, it seems to me that the retail price would be around $14.95, not the wholesale price and you would probably charge $7.50 each wholesale for a minimum of 6. Can you make a profit at those price points?

Answer 5

Poor you...

As you approach each store owner, make sure you present your Garden in such a way that they will feel silly for NOT stocking it in their store. Appeal to the popularity of your product, its ease of use, its affordability, the number of repeat customers you have - all of these make for excellent selling points.

You will also want to mention that you have a web site that will walk their customers through the proper use of your product, so there is no need for them to have to learn anything detailed about your product. The less they have to be involved with it, the happier they will be.

As for pricing your product, there are several ways to approach this issue.

- You could offer them a discount based on the number of units they agree to carry.

- You could offer them a free trial of 5-10 units with the understanding that future orders will be full price.

- You might set your regular price for the store owner and allow them to set their own price (which would be my recommendation).

Here is how you should handle your call:

1. Ask to speak to the store owner.

2. Introduce yourself. "Hi, my name is Mary Mary, Quite Contrary and I'd like to show you a gardening idea that I think would be ideal for your store. I promise not to take any more than x-minutes of your time."

3. Present the product. Explain its benefits. Explain why you think it will do well in their store. Explain how you plan to handle their business - regular store visits, e-mail - whatever it takes to keep in touch with them.

4. If they haven't asked you about pricing by this point, you should go into it now. "I understand that you are a retail business and are probably somewhat tentative about bringing in new products, so this is what I am willing to do for you. (Then explain how you are willing to work with them on a supply/price basis.)

5. Close the sale. Ask for the order. Don't let them think about this; they already know whether or not they are interested in your product. "So, would you like to get started? I'd be happy to set up your display for you."

This is not rocket science. It's a matter of being confident about your product and in it's ability to sell well for your customer.

It's okay to be nervous. Good luck to you.