Submit Your Product to Fast Phils Foods
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How To Get Into Fast Phil’s
Founded in 1980, Fast Phil has been able to serve its customers for almost 40 years and the retail chain is determined to make the experience more exciting as long as it still exists. The first store is located in Union Groove, NC. Just as typical of retail outlets with sustained reputation over the years, Fast Phil has been able to develop a loyal customer base. The North Carolina community has known the Fast Phil retail tradition and has been quite satisfied by the varieties and exciting features they put into the work.
With about 10 stores under the Fast Phil’s brand name, they have been able serve different customers across several market spaces. The supermarket business in the United States is one that tries to connect with the individual customer. This means, the supermarkets try to address the needs and interests of individual customers. This is by offering local, international, and metropolitan products. You can get spices, meat, wine, food, and so many other food products from this type of store.
The motto of the retail chain is well fitting. It reads ‘whoever said, “You can’t have convenience and low prices”, obviously never shopped at Fast Phil’s’.With the focus on giving customers convenience and low prices on purchases, the retail chain has become a comfortable commodity for the smaller communities it serves. Its promotion of affordable product prices that undercut nearby grocery stores in many cases isn’t an idle boast. Rather, it’s part of its retail philosophy—the same philosophy that has made it a shopping destination in western North Carolina, affording patrons the convenience factor they have come to expect.
Fast Phil is a member of Raymer Oil. In 2015, Raymer Oil Company purchased several stores in the Fast Phil’s chain, and Redmond has decided to keep that brand’s name. The Raymer Oil Company has 20 convenience store/gas stations that it owns, operates, and supplies with fuel. It is still also a wholesale fuel jobber, supplying other, non-owned convenience stores. It owns a transportation company, the Public Transport Corporation, which picks up fuel from terminals in Charlotte and Greensboro and hauls it to its customers, as well as its own locations.
For a distributor, this is an established store that can get your products to move as fast as possible. With the awesome varieties they offer and the established customer base, it can be easily deduced that there are customers already dedicated to what they sell. However, this is a big retailer and there is a high standard for the products they take and thus, it may require some reputation and networking.
On the local sourcing of food products, Fast Phil has been on the forefront of selling locally sourced food products and imported food items. Their wine, spice, and produce selection make them a leader in the retail and grocery business niche. This store has been in the business for years and has its established sourcing angles. Its constant support of local products has helped it cement its brand in the community as people can easily resonate with it.
How to get your product into Fast Phil’s
- Understand you client: Before you spend a lot of time and money creating a product, you should know if anyone will want to buy it. Learn more about Market Research
- Learn if it’s protectable: Know if you can defend your product against cheap copies if it gets knocked off. Learn more about Copyright and Patent your product
- Test your product: Make sure that there’s a demand for your product and the customer understands what you are selling when it’s on the shelf and nobody is there to explain it. Learn more about Product Testing
- Perfect your pitch: Before you speak to decision makers, know your numbers, know your retailer and know your logistics in and out. Learn more about Pitching Your Product
- Don’t do it alone: If you haven’t been successful in retail before, a secret of success is that you can’t do it alone. Having great sales staff, customer support and marketing partners can take you from zero to success faster than if you tried on your own. Learn more about Retail Partnerships
Contact Fast Phil’s Buyer
Do not trust any “list” of buyers.
Typically retail buyers change either companies or positions every few years. This strategy helps retailers know that their buyers are not taking “kick-backs” and are selecting the very best product for the very best position each time.
Buyers are typically held to a very rigorous standard of sell-through volume that they must hit and because of this they are risk averse. Your job as a supplier or vendor is to convince them that the buyers going into the stores not only know about what you’re selling but are actively seeking the product in the store currently.
How to Submit a Product to Fast Phil’s
There are several ways to get a product placed in Fast Phil’s. However, most entrepreneurs only dream about getting their product distributed to major retailers, few actually do it. We have experienced a significant rise in interest since the show Shark Tank started airing on NBC. Mr. Checkout has had the pleasure of working with a few Shark Tank success stories such as KISStixx and 180 Party Cups which are now currently being distributed around the country to stores like Walmart, Target, Kroger, 7-Eleven and more.
If you envision your product would be a good fit for Fast Phil’s, we have a few steps to help you get your product on their shelves.
Here are the 6 steps you need to take to have your product placed in Fast Phil’s.
1. Start with the right questions.) Before you try distributing your product to Fast Phil’s, you need to ask yourself a few basic questions. Do you need to build demand for your product, or is there already a demand for it? Do you know that Fast Phil’s would be interested in selling your product? If you can strike a deal with Fast Phil’s, can you handle the production volume? Do you want to sell directly to Fast Phil’s, or do you want to license your product to a manufacturer that will handle distribution?
2. Be prepared to profit.) Does your product offer enough of a profit margin for Fast Phil’s? Can you sell your product at a reasonable enough profit to cover the packaging, shipping, commissions, marketing and wholesale distribution? Check Fast Phil’s guidelines for other fees that you will have to build into the cost of your product in order for you to be able to turn enough of a profit to make the effort worth your while. If you work with a discount retailer, they will try to strip your profits down to zero in order to keep their prices as low as possible.
The typical breakdown of margins are: If a products costs $1 to produce, that product will retail for $4. That product that retails for $4 will wholesale for $2 to distributors and stores that purchase direct. Big box retailers like Fast Phil’s may offer to pay $1.25 to the manufacturer if the product costs $1 to produce. That is the typical profit margin.
3. Determine if Fast Phil’s is the right store for your product.) The relationship between you and Fast Phil’s starts with you browsing their store for competing products. If Fast Phil’s already has a similar product, it is going to be very difficult to get your product picked up. Spend some time at your local Fast Phil’s to see what kind of products they are selling, speak to the manager and see if he thinks your product will sell well in their store. Picture in which zone your product would best fit on the shelf and keep in mind that the most precious asset that these big box stores value are their shelf space. Keep this information in mind when you are preparing your presentation to Fast Phil’s.
If your company is minority or women owned, check Fast Phil’s website and see if they offer specific opportunities for those designations.
4. Pitch your product to Fast Phil’s.) Decide whether it will be you or a representative to present your product to Fast Phil’s. Your presentation depends heavily on your strengths as a businessperson as they will most likely ask financial questions and logistics questions.
It’s common for companies to hire a broker to pitch their product to Fast Phil’s, as it will be more likely that your product will make it to the next stage if the individual pitching your product has industry knowledge or a personal relationship with Fast Phil’s. The percentage of commission verses, however generally a broker will take around 5% to represent your product to Fast Phil’s.
We at Mr. Checkout have experience dealing with brokers and know that there are several retail brokers that have poor business practices that can potentially damage your brand. If you are seeking a legitimate Fast Phil’s broker, please give us a call for a recommendation. It could save you a huge headache and a lot of money.
5. Complete the required Fast Phil’s paperwork.) Often Fast Phil’s will have you go through an application process. However, before submitting the paperwork required by Fast Phil’s, you should contact a buyer at Fast Phil’s and let them know your intentions. Having a contact inside of the company will potentially move your application more smoothly through the process.
6. Anticipate the need for increased volume.) Having Fast Phil’s agree to stock your product will most likely mean a significant increase in volume. You should be prepared to ramp up your production and informing your manufacturer of this opportunity.
Having production, logistics and distribution to sync is not only difficult, it requires a significant amount of time invested in customer relations. Also, Fast Phil’s may have stipulations in the contract that may penalize you for delays in shipping and production. Have an attorney explain all contracts to you if you don’t understand the terms.
If you’re looking to sell your product to Fast Phil’s, be sure to thoroughly assess the marketplace, carefully prepare for production growth, and take full advantage of resources available to help you grow your business.
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