Monday, September 14, 2015 9:41:51 PM
In my not so humble opinion, you need four elements to become a successful wholesale to retail business.
1. Design...this is key. The product has to be fresh and relevant. And priced to sell at retail.
2. Sales...this is paramount. You need a seasoned professional that has been dealing with these retailers for years and truly understands their needs. You need prime real estate in their stores and they are not going to give it to someone that doesn't understand all the requirements of their business.
3. You need a great factory behind you to produce the goods to the proper specifications. They have to deliver a perfect product on the first go round and they have to extend you credit.
4. You have to have a top CEO who can put the above in place with a top COO that can coordinate both the incoming orders along with the outgoing shipments and a CFO who is a financial genius that can coordinate with the banks, the suppliers, etc.
To me number four is the most important because these are the people that truly fuel the "engine" of the company.
It's apparent to me that with the exception of number three (as I don't know anything about their production) that they are missing too many important elements to make this a real company.
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