May 4, 2016

Question from Reader, "How do I choose the right food broker?"




While traveling this past week for a client, Mary sent a note and asked about choosing the ‘right’ food broker for her company’s product. Her big concern was choosing the right food broker from several that desired representing her item and all suggested special relationships and speed of access along with purchase orders.

Generally, Food Brokers do not make or break a product relationship. If you are solely dependent on their actions for your products success then you have too much riding on their shoulders.

In general, brokers provide -

1. Access to the buyer and the meeting

2. Prepare documentation and flow of process through to distribution.

3. Solve and follow-up on distribution and management of purchase orders.

4. Possible retail and operator coverage.



Your product has to carry the day with any sizeable accounts and they are dependent on the category, competition, and buyers timing for orders.

To better assist this decision and ease any dilemma, do the following:

1. Develop and have a specific market plan for your product.

2. Interview and question the brokers involved in the selection process.

3. Select the broker that offers the following and most likely assists your market plan.

Enthusiasm and interest

Comfortable with their communication and organization

Access to the buyers in your plan and with most likely coverage.

Experience

Competition

Ask all of them my list of questions in conversational style – LINK

What is their response?

You should know after talking with them if you should choose one of them over another. Also, there are specific brokers best for certain channels. Avoid providing geography to a broker and consider accounts that you can organize and note in your planning.

Also, our meetings were a resounding success and it was a very special time for all involved.

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