When you’re getting ready to launch a food product, it’s easy to get caught up in the whirlwind of the event. But when the food industry is so tightly packed with competitors, it’s crucial to give your company the right advantages. Whether you’re competing on value, taste, or sheer novelty, food ingredient brokers can be the key to getting your product in front of the eyes of consumers.
What Do Food Ingredient Brokers Do?
Food ingredient brokers are well-versed in sales, but they are not salespeople. Instead of just following your directions and pitching your brand, they’ll consider the many facets of your new food product. From the pricing to the packaging to the food chain supply, they’ll help you make adjustments that can ensure success. You may need to schedule more demos or make your initial promotion a little more splashy. You may need to emphasize a certain feature a little more, such as the product’s health benefits.
Once the product is ready to compete in the wider market, your broker will negotiate deals with retail decision-makers that will ultimately bring your product to customers. A broker is a partner as opposed to an employee or vendor. When your success is their success, the broker should do everything in their power to improve your bottom line whenever possible.
How to Find the Right Broker
Finding a good broker starts with identifying the qualities you’re looking for and the rates you’re willing to pay. The type of person you need and the work you’ll need to be completed will vary based on everything from your target demographic to your location. Many food ingredient brokers will specialize in niche products, such as organic meats or specialty cookies. The more experience the broker has, the more likely they’ll be to predict the reception to your product.
Before you even begin reaching out to brokers, it helps to have all of your ducks in a row. This includes listing all the stores you want to be in, all the stores you’ve contacted, which categories your product falls into, how you would like the business to grow, and how your margins will impact your distributors.
When there are so many new brands trying to get their voices heard, the constriction of profit margins has grown tighter with nearly every passing month. When you first meet with a broker, find out how long they’ve been working, who their references are, what kind of commission they charge, and which territories they handle.
Our clients look to us for help in matters large and small. (It’s not uncommon for tiny decisions can make or break your product.) If you want to know more about what we can do for you, book your free consultation with us today to see just how far our expertise can get your product.