Are you ready to take your brand into the international wholesale market?
Whether you're just starting to consider wholesale or actively planning your expansion, use this checklist to ensure you can take this next step into international wholesale confidently.
Created by Jenny Nakkan, Founder of Elevate Wholesale Agency, this detailed checklist will assess your brand’s readiness for wholesale success. Elevate specialises in proven strategies to accelerate wholesale growth and position brands on the global stage.
CHECKLIST
✔️ Research
Do your research and know where your brand sits and is positioned within wholesale. Explore your competitors and desired brand adjacencies. Be clear on your brands USP and the list of stores you want to target & why.
Also research potential market entry barriers for export regions. There are many things to consider when it comes to tax and duty implications, so be clear on these requirements within your business and ensure you can meet them.
✔️ Critical Path
Establish a dynamic wholesale critical path that caters to the sales market & delivery windows of the regions you are targeting. Your critical path must cover all facets within your product and development lifecycle.
✔️ Global Pricing & Wholesale Margin Assessment
By region, ensure your retail & wholesale pricing model covers all facets of supply chain costs, industry standard retailer markups specific by region and the wholesale margin required for successful negotiations including potential discounts and coop contributions.
✔️ Finance Plan
Once you have your timelines and pricing mapped out, consider how that sits within your business financial plan. Consider implications and challenges that come with wholesale, and how you can manage these challenges within your business cash flow.
✔️ Logistics
Consider the operations you will require to successfully deliver your goods from the factory into wholesale stores. Identify supply chain, logistics & partners required to streamline the delivery process and ensure Deliver in Full, On time (DIFOT). This is an area that might require you to have short, mid and long term goals in place
✔️ Marketing
Understand your current marketing strategy and areas that can be extended to wholesale for maximum penetration and business return in your target wholesale markets.
✔️ Wholesale Sales Collateral
Review the seasonal collection assets you will need to develop to support selling your products to buyers in every season. Ensure you have order forms, line sheets, SMS and a B2B platform enabled, to ensure minimum industry standards are being achieved.
✔️ Develop Your Sales Strategy and Identify Your Required Sales Model
Confident you have products that buyers want, but not sure how to get it in front of them? Develop a sales strategy that fits within your financial requirements to put your brand in front of the right buyers at the right time. There are many sales models that brands can consider such as sales agents, distributors, attending trade shows, travelling to the market & selling direct.
✔️ Wholesale Sales Processes
Be prepared by establishing your wholesale sales processes up front. Pay close attention to new wholesaler onboarding, trading terms documents, order confirmation processes, invoicing and accounts receivables, and all other elements of customer service.
Take your brand to the next level with the right tools and expert guidance. Elevate Wholesale Agency is here to help you navigate the path to global wholesale success. Don’t miss this opportunity.
AFC MEMBER OFFER
As an exclusive benefit for AFC members, Elevate is offering a free one-hour consultation (valued at $995) to help you navigate the complexities of the global wholesale landscape.
Schedule your free session with Jenny Nakkan, click here.
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