SALES & MARKETING - FOOD BROKER 22 21 SALES & MARKETING Food Broker Have you ever had the excitement of finding out that one of your favourite small creators is selling a line of products in the grocery store? If you are a long time fan than it’s exciting to see them grow and reach new territories. However, the process of getting those product into the grocery store probably wasn’t easy. Due to the process being rather complicated they likely reached out to many for help. Lack of experience and knowledge can hinder this process leading to unnecessary headaches and financial losses. Therefore, brands and creators call upon food brokers as a third party to help them sell their food products to grocery stores distributors. 1. Food Brokers Buy and Sell Things on Behalf of Other People A food broker is an independent agent that helps to facilitate transactions between food producers and buyers in the food industry. They ensure that the transactions run smoothly and each party has the necessary information required. Brokers do so by matching food producers with well-suited buyers and taking on a fee for their service. There is a famous saying that, “It’s not what you know, it’s who you know” and this couldn’t be more true for a broker. Brokers have diverse networks of people and will turn to them when figuring out the best pairing for their clients. The network also serves as a knowledge hub giving them to a diversity of information helps brokers with food businesses. or example, if a client requires a particular ingredient for their product the broker can additionally assist them in their search. They are that person in your friend group that seems to know everyone. A food broker can be considered to be a parttime salesperson to support the sale of a product. They negotiate prices and conditions for business transactions. Food brokers convince buyers to shelf these products by demonstrating the potential success of the product and projected growth, As well, they help with administrative tasks as well such as invoicing companies after they have products have been purchased. Additionally, they may also assist clients in preparing long term-goals and marketing plans. Food brokers will help clients to determine the foundations of their products, how to position their product against other places as well getting clear on their objectives of where they food producer should take their product. 2. Food Brokers Have a Rich Knowledge of Markets and Regulations A food broker is knowledgeable about food categories and markets. They can synthesize and adapt information from different sources for their clients. Food brokers know where to look for useful information such as trade publications, industry news and conversations they have in the industry. Having strong intellectual capital is gives a food broker a competitive advantage. For example, having a strong intellectual capital could mean that broker is familiar with who are the strong competitive player with a market segment. They know what makes these brands stand out and where a small business could fill in the gaps. Brokers also have access to knowledge to how well a product is performing Food Broker Helping food businesses with sales Photo by scyther5/iStock/GettyImagesPlus Photo by Karolina Grabowska/Pexels
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