Indie Brand Builder: discussions with creative entrepreneurs and industry experts on how to build a 7 figure product business.
About This Show
Each week Jeremy Interviews successful creative entrepreneurs and industry experts while reflecting on his own experience building 7-figure indie brand, SoYoung. Topics include selling products wholesale, e-commerce, manufacturing, retail, marketing and business management. Whether you’re just getting started in developing a product based brand, or are looking to build an existing brand, you’ll find a ton of useful, actionable information both in the podcast and at www.indiebrandbuilder.com.
Most Recent Episode
16: How to Grow your Global Distribution Channel
Want to quickly ramp up your sales while generating extra cash to finance your next production run? Then it’s time to grow your global distribution channel. Finding distributors for your products in foreign territories may seem like an overwhelming prospect if you’ve never done it before, but it’s certainly possible. SoYoung now has distribution in 8 territories including Mexico, Australia, The Netherlands, and Korea – with more in the works. In this week’s post, I cover the pros and cons of distribution and outline some of the best ways to find distributors in foreign markets. What is distribution Distribution means granting the rights to sell your products in a specific region to another business entity or individual. This is typically done to cover a part of the world in which you have a limited presence and lack the internal resources or knowledge to cover the region. In essence, you are outsourcing the management of your brand in that region to a 3rd party who will handle all sales, fulfillment and management of customers in the defined area, for a defined period of time. The pros of distributing your products Increased Sales Revenue The most obvious benefit of growing your global distribution channel sales is that it increases your bottom line. These tend to be large bulk purchases that can instantly add zeros to your revenues. They also tend to be repeat purchases. Since the distributor has more skin in the game than your typical retailer skin, they will be more invested in growing your sales in their territory, leading to predictable increases over time. The ability to establish your brand in new markets without an upfront cost Distribution gives you access to new markets with relatively little investment. Typically your distributor in the region is assuming all the risk for launching and selling the product in that territory. This allows you to increase your overall brand presence while outsourcing most of the work involved. While the agreement may be exclusive, typically a distribution contract includes a clause that allows you to end the agreement with a certain amount of notice and or at the end of a certain time. You may continue to maintain the relationship indefinitely, but if you plan to eventually own the region yourself, you will have already established a brand presence as a foundation for further growt