Selling to Wal-Mart: The Do’s and the Dont’s
Kim Babjak was born to be an entrepreneur. From her childhood days of developing products, Kim has loved all aspects of business. However, the area that brings her the most joy is helping others achieve success. Armed with her dream of taking to market products she had been developing for years, Kim took a chance at becoming financially and emotionally free by starting and running her own business.
She wanted to create a company that would give her the flexibility to work around her children and family, give her the freedom to make her own decisions, and help other entrepreneur's achieve the type of success she had.
"I want to make people's lives easier, and that is just what I am doing" said Kim.
Along the way, Kim encountered many obstacles, and through her perseverance, is now the owner of a highly successful company whose consumer products sold on QVC America, QVC UK, Wal-Mart, Walgreen's and large catalogs internationally.
Kim is thrilled to take the experience and knowledge she has gained from starting and running her business, and now share it with others. Kim provides guidance and resources in the areas of product development, offshore manufacturing, importing and QVC consulting.
This highly energetic and personable entrepreneur is helping create the "American Dream, one Dreamer at a time!"Since launching her company in 1998, Kim Babjak of KimCo LLC, has been living her "American Dream" of success. While wearing many hats like mother, entrepreneur, business woman, author, speaker and QVC agent, Kim has designed and taken to market many of the consumer products she has designed over the years.
Her struggles and hurdles in the process have compelled her to develop a unique consulting program that helps entrepreneurs with finding, then living their own "American Dream." KimCo's new venture helps entrepreneurs get their products seen by millions on QVC or HSN, idea to paper product development, product prototyping and overseas manufacturing.
Always Dream Big!
Kim's four reason why she works so hard !
Latest posts by Kim Babjak (see all)
- Selling to Wal-Mart: The Do’s and the Dont’s - June 29, 2011
- Specialty Retail Entrepreneur Expo & Conference, You gotta go! - March 16, 2011
- Inventor on NBC TODAY Show! How did she do it? - December 7, 2010
After returning from Bentonville last week, I realized what I had just done was the most exciting thing an inventor/entrepreneur could ever do. Walk the hallways of the buying office at the headquarters of Wal-Mart….
The blue and gray walls signify America, and the American dream of most product developers; to place their products into the largest retailer in the world! How exciting is that?
Well, to do that- you have got to be prepared!
o Make sure your product fits Wal-Mart’s mission, demographics and consumer lifestyle.
o You will need to provide the buyer with data on competitors and how your products compare or are better than them. Actual customer marketing research should be presented (not just your opinions on why your product is the next million dollar idea.)
o They don’t want to see prototypes, unfinished samples, or waste time with ideas. You probably would not even get an appointment with an idea.
o Have your pricing and product configuration ready to go. They are interested in selling, not testing new products.
o Have your packaging ready, with bar codes….at the meeting.
o Make sure you are familiar with Wal-Marts buying process, and how they place their products into the stores. (this is not so easy to do, a great agent can assist in this.)
o Conceive every question or comment the buyer might ask you about your product, and be prepared to have the answers for them. Play your devils advocate, and be willing to be in the hot seat.
o Be prepared to take some heat on pricing, and always appear to be educated on the products demographics and competitors pricing. Know, know, know your best pricing going in, you will be drilled about it! Wal-Mart buyers deal everyday with many manufacturers direct, so in their category you better believe they know what something should cost. If you’re pulling the wool over their eyes, you could look silly.
o Be willing to listen to the buyer’s advice and guidance when it comes to the product. They have great insight!
o Make sure you don’t take pictures (anywhere in the building). They are very strict, so leave your cell and camera in the car!
o Think your product is the next million dollar idea! Be humble and willing to take criticism.
o Argue with the buyer. If they turn the item down, say thank you!
o Expect the buyers to dictate to you what you need to do to develop the item. They will give general advice, however, you’re presenting to them, you better know what you are selling.
o Waste their time.
Always Dream BIG!
Kim Babjak, and her team at KimCo LLC, are a multi-faceted product development company that offers a wide range of consulting in the areas of “Mind 2 Market” product & business development. With over 20+ years of combined retail experience and sourcing overseas, Kim Babjak and her team of professionals can help create successful product creation and placement. We help companies with product development, prototyping, and manufacturing overseas and. With our vast retail buyer relationships, we can then assist with the product being placed into electronic retail (QVC), and big box retail outlets like Wal-Mart, Target, Home Depot, Costco and many others.