How To Get Into Food Bazaar Supermarket
Borne out of the need to offer more varieties to the people of New York, the first Food Bazaar store was opened in 1988 in Queens, New York. Since then, the retailer has been able to provide the ever-increasing New York population with varieties from both local and international sources. The founder, a Korean by birth moved to Argentina and got used to Latin American cuisine. He found this missing at the New York restaurants and supermarkets.
True to the statement that passion and the drive to solve problems can lead to success, Food Bazaar Supermarket has grown from a store in Queens to a food retail chain with locations in several states. The 75,000 square-foot international food market features such varied delicacies as Inca-Kola and Indian corn. Even in New York, there are few places where Korean food lovers can purchase tubs of gochujang pepper paste in bulk round the clock. Food Bazaar simply ensures that New York lives up to its reputation of having the whole world in one place.
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 best reviews are given by customers who shop there often. Thanks to platforms like yelp.com where customers share their experiences, we can have some reviews on this international food market. A customer noted that “A quality supermarket with a abundant selection of quality brand names. This supermarket is located in Concourse Village nearby Bronx County Courthouse and easily accessibly by B, D trains at 161st Street Yankee Stadium station. Priced steep. Aisle are wide with standard supermarket aisle marker signage are clear. Decent selection of ethnic food. Staff speaks rudimentary English but appears fluent in Spanish. Good produce, meat, seafood selection but poor fruit selection.
Checkout queues are abundant separated with express lanes for ten items or less and regular lanes. Facilities are available on site.”
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. With a loyal customer base and new customers every day, it is highly profitable to get into business with this kind of store.
On the local sourcing of food products, Food Bazaar 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 Food Bazaar Supermarket
- 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 Food Bazaar Supermarket 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 Food Bazaar Supermarket
There are several ways to get a product placed in Food Bazaar Supermarket. 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 Food Bazaar Supermarket, 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 Food Bazaar Supermarket.
1. Start with the right questions.) Before you try distributing your product to Food Bazaar Supermarket, 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 Food Bazaar Supermarket would be interested in selling your product? If you can strike a deal with Food Bazaar Supermarket, can you handle the production volume? Do you want to sell directly to Food Bazaar Supermarket, 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 Food Bazaar Supermarket? Can you sell your product at a reasonable enough profit to cover the packaging, shipping, commissions, marketing and wholesale distribution? Check Food Bazaar Supermarket 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 Food Bazaar Supermarket 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 Food Bazaar Supermarket is the right store for your product.) The relationship between you and Food Bazaar Supermarket starts with you browsing their store for competing products. If Food Bazaar Supermarket already has a similar product, it is going to be very difficult to get your product picked up. Spend some time at your local Food Bazaar Supermarket 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 Food Bazaar Supermarket.
If your company is minority or women owned, check Food Bazaar Supermarket website and see if they offer specific opportunities for those designations.
4. Pitch your product to Food Bazaar Supermarket.) Decide whether it will be you or a representative to present your product to Food Bazaar Supermarket. 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 Food Bazaar Supermarket, 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 Food Bazaar Supermarket. The percentage of commission verses, however generally a broker will take around 5% to represent your product to Food Bazaar Supermarket.
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 Food Bazaar Supermarket 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 Food Bazaar Supermarket paperwork.) Often Food Bazaar Supermarket will have you go through an application process. However, before submitting the paperwork required by Food Bazaar Supermarket, you should contact a buyer at Food Bazaar Supermarket 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 Food Bazaar Supermarket 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, Food Bazaar Supermarket 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 Food Bazaar Supermarket, 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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