supermarkets By Monique Borst wwwmoniqueborstcom for Escape the City wwwescapethecityorg MoniqueBorst Unwrapping the food industry Food manufacturing 2011 The UKs biggest manufacturing ID: 416313
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Slide1
‘Pitching to food halls and supermarkets’
By Monique
Borst
www.moniqueborst.com
for
Escape the City
www.escapethecity.org
Slide2
@Monique_BorstSlide3Slide4
Unwrapping the food industry
Food manufacturing 2011
The
UK's biggest manufacturing
sector
E
mploying
440,000 people directly and indirectly accounting for a further 1.2 million jobs in the food
chain
An incredibly
diverse sector: there are 7,000 businesses – the overwhelming majority of which are
SMEs
T
ogether
generating £
76bn
of
turnover
Highly innovative: spending
£350m on R&D and launching
8,500
new products every
year
We export more than
£12bn
worth of food and non-alcoholic beverages every
year
Food and drink manufacturers buy
66%
of what UK farmers
produce
www.fdf.org.uk
Slide5Slide6Slide7Slide8Slide9Slide10Slide11
Salads Just Got S
exy!Slide12
How to get a foot in the door …
Your product has to be great, that goes without saying, have shelf presence and be supported by a robust marketing plan.
Tip
#1 Do thorough market research
Buyers will expect you to know lots about their business, its’ existing products and how your product will increase the value of the category. They will also expect you to know every facet of your own business, from where your ingredients are sourced, to production methods, your target markets and finance.
Tip #2 Let your product speak for itself
You need to be absolutely convinced that you have a winning product in your hands. If Buyers are persuaded by your rationale on why they should buy it and realise that it is a great product – this is the best chance you have for seeing your product on the shelf
.
Tip #3
Persistence is key
Getting a hearing is difficult for new entrants to the food industry:
be
creative in how you turn ‘no’ into ‘yes’ and don't give up until you secure that crucial first meeting!Slide13
Pitch tips
Be clear and concise.
What are you offering? What do you want? Make sure your focus is clear.
Include robust sales forecasts and profit projections.
Your pitch will be redundant without them. Remain ambitious, but realistic.
Know your finances
from top to bottom. Nothing annoys Buyers more than a sloppy grasp of the numbers.
Enjoy the experience & remember to smile!
It may be daunting, but pitching
is also fun and exciting and practice makes perfect.Slide14Slide15
Over to you!
Think about yourself as an entrepreneur
. Try to put yourself in the shoes of a role model business person. Do they fit? What is your vision? What will the business look like in 5 years time? If you can’t come up with a convincing picture it could be that you aren’t cut out for it
.
Talk to successful business people you know and read profiles of great entrepreneurs
. Have they got something you haven’t? If it’s only luck and being in the right place at the right time then there’s nothing to stop you emulating them. (However, there is more to it than that
!)
Take a
product
you know reasonably well and write down 10 ways the
producer/manufacturer could
improve it
. Thinking about other businesses, even if they are unrelated to your business idea, can stimulate great ideas about your own
.
The key to all this is your customer!
Don’t (yet) get pre-occupied by the product
you
are planning.
Do be obsessed by the experience your customers will have of it
. Become your customer for a while: you must know what difference your new product will make to their lives!
You may need to pay yourself very little in the early days
. Calculate your domestic expenditure for at least 12 months. Exactly where is your money going? What are you prepared to sacrifice? Work out exactly what you need, but add in a 25% contingency amount to take into account sudden, unforeseen expenses.Slide16
Useful links
Office for National Statistics
www.statistics.gov.uk
Mintel
www.oxygen.mintel.com
Food & Drink Federation
www.fdf.org.uk
Defra
www.defra.gov.uk/statistics
British
Library Business & IP Centre
www.bl.uk/bipc/
The Institute of Grocery Distribution
www.igd.com
Key Note
www.keynote.co.uk
Regional food & drink groups
www.london.gov.uk/londonfood
Waitrose Small
Producers Charter
www.waitrose.com
Sainsbury’s
www.supplysomethingnew.co.uk
Asda
www.asdasupplier.com
Food
Standards Agency
www.food.gov.uk