Congratulations on tapping into your dream of starting a consumer product business.
Now what?
You have created a fabulous new product that the world needs.
I learned the hard way and I want to pass along my knowledge to minimize your losses and improve your odds of success. This business is complex, competitive, expensive and so rewarding. Thousands of new products launch into grocery stores each year and most won’t make it two years. Let’s be sure you’re one of the success stories!
Most first-time CPG founders think that getting into a grocery store is a sign of success. While this is a huge accomplishment, the work of getting the product to sell itself is the most critical part of building a consumer product. The preparation you put in will lay the groundwork for a successful launch.
Did you know?
It takes an average of at least two years to get a product ready for retail.
Some founders spend five years or more selling out of their home or the local farmer’s market before they figure out what it takes to get into a grocery store.
If you were to put a dollar value to that time and effort what would that number be?