SALES & MARKETING - FOOD BROKER FOOD BROKER - SALES & MARKETING 23 24 other clients go through the process they know the steps required allowing them to see the big picture. Food brokers know it is important to plan, strategize and prepare for the next stages of scaling a business. They help clients to figure out their sales goals and strategize for success. This includes educating clients on the important of product placement in stores and having enough inventory to move products around. On the flip side they will also work on the behalf of supermarkets. They will work with buyers to perform category reviews to determine if there are under-performing products should be discounted. If a brand offers too many products this can undermine the brand and they may suggest cutting under-performing products. 6. Food Brokers Help Small Businesses For many new entrepreneurs in the food space they may find it difficult to scale their business. Small business owners need to split their time between the production of a product and selling it. Instead broker can work on selling the product and take care of complexities of marketing. Their rich knowledge base can be used as an asset. Did you know that manufactures pay retailers to appear on their selves? This can cost thousands of dollars which can make it difficult for small businesses with a smaller amounts capital. For many new to the food industry they likely don’t know how to navigate this. Food brokers are helpful for small businesses. Additionally, they can act as a brand’s biggest cheerleader. If the product is on shaky grounds with supermarkets the broker can go to bat for the small business and negotiate what offers the store can run to boost sales and keep them on the shelf. Brokers are also beneficial to small business producers because some large retailers will not speak with smaller businesses but will with brokers. In many cases a broker may be the only way to make it into a store. 7. Food Brokers Have Rich Networks Brokers are only as good as their network. Having a strong network means that the brokers don’t cold calling because they can just pick up the phone and call someone they know. Individuals who become food brokers generally do no perform this as their role after college. Instead, they have work in the industry for many year and built up connections. Using their close working relationship with stores they can get feedback about their clients including how well products are selling, the reaction of consumers to new and existing items, and current market trends, both locally and nationally. 8. Food Brokers are Detail Oriented, and Communicate Well As with any occupation, there are certain sets of skills which will aid you better than others. For a food broker, these skills include: • Time-management – All food brokers have multiple clients of varying sizes and to ensure they all get the attention they deserve the broker will need to manage their time effectively. Brokers early on will evaluate the potential of each client they work with and will determine how much time is needed to achieve their goals. Brokers keep to exact timelines and schedules while also never wasting time on lengthy visits or calls. • Communication – Building up a strong network requires effective communication skills such as active listening and effective speaking skills. Food brokers consistently speak with clients and outside parties through phone calls and emails. Brokers need to communicate well or they won’t succeed in this business! • Detail-oriented – An effective food broker is attentive to the unique needs of their individual clients. Remembering small details leads to stronger relationships but also provides better services for clients. If details are not paid attention to this can lead to a loss of a lot of money especially when it comes to contracts. in a category. For example, a food broker might recommend to their client they should first sell their mango cookies at a specialty Chinese supermarket chain within a certain geographical region as this is more suited for their style of product. Then when it proves popular they can expand out to the multinational level. Brokers are additionally knowledgeable about regulations such as those by the Safe Food for Canadians Act and Food and Drugs Act those created by supermarket producers. That way if a client comes to the broker with a product that doesn’t hold up to these standards they can guide them along the way. Overall, successful food brokers have a strong understanding of laws and regulations surrounding categories of food products their clients create. 3. Food Brokers Have Degrees in Financial Related Fields There is no specific career path required to become a broker as a degree is not required for this profession. However, having a post secondary education can help one stand out among the competition. It is common for food brokers to have a bachelor’s degree or college diploma in a financial related field such as marketing, finance or business. Degrees in these fields will help brokers with their ability to negotiate with retailers on behalf of buyers. In contrast, what is unique about food brokers is that some may have post-secondary degrees in food science because it aids them in the understanding of food production processes. 4. Food Brokers Negotiate Contracts Negotiating contracts is the cornerstone of every food brokers job. Contract negotiations involve two or more parties discussing the terms of a contract to come to an agreement before signing and making it official. Additionally, contracts are normal business transactions that provide details about what each party is legally responsible for. Examples of things that could be included in food industry contracts include: • Providing X number of units by a certain date. • A supermarket chain will sell X product on the third shelf for a total of 10 weeks. • The food producer will supply 2 different flavours with additional seasonal on during the course of a summer. Working as a third party the food broker will always try to negotiate the best contracts in favour of all parties. The trick is to use to use strategic selling and negotiating skills that match all parties needs, strategies and opportunities. Contracts should always be realistic and minimize risk. 5. Food Brokers See the Big Picture A food broker’s job isn’t finished when a product is placed on a supermarket shelf. Many client’s choose to continue their services with them well after that happens. Food brokers help producers to grow their brand going from a few supermarkets in a specific geographical region to across the country. Because they have helped Still having trouble understanding what a food broker does? Than check out podcast interview with salesperson turned food broker with Bernard Verkaaik. Click the photo to tune in! Conestoga College is an Education Partner of ours, check them out on FoodGrads! Click their logo below! Available Programs: Business Development and Sales, Administrative Business Management, Business – Purchasing, Project Management Conestoga College Photo by anyaberkut/iStock/GettyImagesPlus Photo by Chinnapong/iStock/GettyImagesPlus Photo by anyaberkut/iStock/GettyImagesPlus
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