23/05/2018
First Mover Advantage..
Now a big bakery with mechanized equipments Klinge's Place - 08168954546.. launches a new product of flavored chin-chins right.. they start out by seeking distributors.. Let's assume for each bag there is a N100 profit margin.. That means if I supply 100 bags to one school, that's N10,000 profit... let me just drop a business Nugget - The best type of business in this world is Middle Men business.. Banks are middle men.. anyways let me get back to the gist..
So you reach out to the company and sign an exclusivity deal with them for your state.. meaning that if anyone from PHC or Owerri wants their Chin-chin they have to go through you.. when their marketing and branding fully kicks in.. not only are you generating revenue through your sales channel.. the company is a low key marketer for you cos they send all customers from that state to you.. The first product is Chin-chin as the company begins to grow and scale to new products like dried mango snack, Shredded coconut, honey roasted cashews etc.. guess what - you were a first mover cos you started with the company.. once competition kicks in, the process for becoming a distributor becomes harder.. I say this to say that I remember when it only took N10million to become a Procter & Gamble distributor.. Right now N300million is the minimum buy-in.. so the first people that took advantage of the initial amount gained what we call the first mover advantage.. First to market..
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