How To Get Into Nam Dae Mun Farmer’s Market
Nam Dae Mun Farmer’s Market opened its first location in 2005 at 3825 Shackleford Road Duluth, Georgia. Since then, it has been offering awesome varieties and spectacularly uncommon products to people of its neighborhood. It has expanded from one location to seven and the experience at each store has been very fantastic to every customer.
Mr. Kim’s (Owner & Founder) vision was to offer an incredible selection of exotic foods that you simply won’t find in traditional markets. Another important goal was to enrich the lifestyles of the communities the retailer serves, including many diverse ethnic families, by offering a wide variety of international foods, general merchandise and household items sourced from around the world.
The name Nam Dae Mun is derived from South Korea. It translates to “Great Southern Gate” in reference to the first National Treasure of South Korea. It is one of the historical pagoda-style Eight Gates positioned in the Fortress Wall surrounding the city of Seoul. Dating back to 1414, Nam Dae Mun Market was established next to the Great South Gate to be a trading marketplace with commercial activities as traders set up various shops. Trade was active in grains, fish, fruit, and miscellaneous goods.
The company had as its goal that: “We don’t just focus on Asian products, we offer products that are literally from around the world that would be of fit to our Georgians and beyond. Many find the experience of Nam Dae Mun Farmers Market as a culture exchange, rather than your normal grocery shopping experience.”
The uniqueness and the innovativeness of Nam Dae Mun set it apart. It isn’t like the normal food chain where things are dull and not interesting, customers have enjoyed this food chain and they have written about it online. A customer noted on yelp.com that: “I’m always seeking a farmer’s market with a great variety and this place really offers a selection.
From the different Meats and seafoods to the wide selection of retail food items from all over the world, this place is a real must go.
Not only that, the owners here are constantly giving back to the community through food drives, hurricane reliefs, and more.
This place has really changed the community in Morrow and there is plenty of parking.”
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.
On the local sourcing of food products, Nam Dae Mun Farmer’s Market 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 Nam Dae Mun Farmer’s Market
- 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 Nam Dae Mun Farmer’s Market 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 Nam Dae Mun Farmer’s Market
There are several ways to get a product placed in Nam Dae Mun Farmer’s Market. 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 Nam Dae Mun Farmer’s Market, 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 Nam Dae Mun Farmer’s Market.
1. Start with the right questions.) Before you try distributing your product to Nam Dae Mun Farmer’s Market, 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 Nam Dae Mun Farmer’s Market would be interested in selling your product? If you can strike a deal with Nam Dae Mun Farmer’s Market, can you handle the production volume? Do you want to sell directly to Nam Dae Mun Farmer’s Market, 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 Nam Dae Mun Farmer’s Market? Can you sell your product at a reasonable enough profit to cover the packaging, shipping, commissions, marketing and wholesale distribution? Check Nam Dae Mun Farmer’s Market 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 Nam Dae Mun Farmer’s Market 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 Nam Dae Mun Farmer’s Market is the right store for your product.) The relationship between you and Nam Dae Mun Farmer’s Market starts with you browsing their store for competing products. If Nam Dae Mun Farmer’s Market already has a similar product, it is going to be very difficult to get your product picked up. Spend some time at your local Nam Dae Mun Farmer’s Market 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 Nam Dae Mun Farmer’s Market.
If your company is minority or women owned, check Nam Dae Mun Farmer’s Market website and see if they offer specific opportunities for those designations.
4. Pitch your product to Nam Dae Mun Farmer’s Market.) Decide whether it will be you or a representative to present your product to Nam Dae Mun Farmer’s Market. 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 Nam Dae Mun Farmer’s Market, 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 Nam Dae Mun Farmer’s Market. The percentage of commission verses, however generally a broker will take around 5% to represent your product to Nam Dae Mun Farmer’s Market.
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 Nam Dae Mun Farmer’s Market 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 Nam Dae Mun Farmer’s Market paperwork.) Often Nam Dae Mun Farmer’s Market will have you go through an application process. However, before submitting the paperwork required by Nam Dae Mun Farmer’s Market, you should contact a buyer at Nam Dae Mun Farmer’s Market 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 Nam Dae Mun Farmer’s Market 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, Nam Dae Mun Farmer’s Market 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 Nam Dae Mun Farmer’s Market, 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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