Test the Market

Have a new idea but not sure about the market? Create a few prototypes (samples) in what ever variety can be offered. If it can come in different colors, sample those colors. If it can come in different sizes, create a couple different sizes.

Shop around and find the store you think your product might find it’s best opportunity. Now the good part.

You can get your foot in the door, so fast, by explaining to the shop owner, that you want to test the market on a new product. If they wouldn’t mind, giving it a trial run, you’d be willing to offer an exclusive, in thanks.

It goes like this. You leave the product, free gratis. Get a receipt, showing what products you left there, you can use your own receipt pad. Tell the owner, you’ll be back in a week, to see how it went. Go ahead and give the product a wholesale price, so that the owner will know how to price the items.

If the product sells, in that week, you then make out a receipt for the wholesale sale, and collect the money. If it does not, this is your opportunity to chat with the owner and get his/her input. What do they think will be the chances for this product. Is there a change, they see that might help.

If it’s just a no-go, there is still a huge opportunity. Find out what does sell. Would they like to work with you, in creating a new product. What have they been looking for, and can’t find. Who knows, you just might be able to fill the bill.

Remember always, especially on that first visit, never stand between the shop keeper and the customers. Know your place. Put yourself in the same position as the shop owner-main concern, keeping and eye on shoppers, being available. When a customer walks up to the cash register, you step aside immediately. This lets the shop keeper know, you know what the score is.

I met the music box shop owner, for the first time, by simply snooping around the shop. When I saw a nightlight much like one I made, I piped up and said, “I make one almost identical except for one thing…mine is much more realistic to style and has a little more color sparkle to it. AND I wholesale mine much less than this one, I’m sure”. Nabbed. On the spot. She wanted to see mine. Our friendship and business dealings lasted over 2 years, before she sold her shop.

Be gabby but not butting in on any dealings with customers. Make sure the shop owner is out of ear shot of customers. They don’t need customers, knowing where he/she buys their goods.

“You know…this looks almost identical to one I turn out for about $6. Is this made locally?” :) Believe me, it works.