Perhaps you have shopped at Walmart and thought… I have to get my products on those shelves. Did you find the perfect spot for your new product and think, Bingo, that’s where my product should go. I think I will give them a call.
The reality is, Walmart receives hundreds of calls every day, asking exactly the same question, “How do I become a vendor?” For most people getting your products on the shelves of Walmart will be the pot at the end of the rainbow. Thoughts of huge amounts of money race through their heads. For some, Walmart is definitely the pot of gold they looked for. For other people it will be another day in bankruptcy court.
The direction to the business Walmart headquarters could be a long one, it can also be the best road ever traveled. Before even approaching such a large retailer, you have to do your research. The first step to being a Walmart vendor is to search online at http://www.walmartstores.com and submit detailed financial info about your business. You can also call corporate headquarters in Bentonville, Arkansas at (501) 273-4000. Operators will refer one to the correct department for your information you need. In addition, you should be listed with and order and purchase two Dun & Bradstreet reports. Walmart wants to know you are able to handle your biz.
As well as following these steps, you need to submit an application for Universal Product Code (UPC), meet applicable liability and workers compensation insurance requirements, pass quality assurance testing, and meet Labeling and Packaging requirements. If you survive this round, you might just find yourself in the big ole parking lot loaded with rental cars from fellow vendors… the competition. Don’t worry, there will be many scared faces to fit yours.
Before you submit that questionaire remember you normally have ONE opportunity to sell those buyers. The buyers at Walmart address have grown to be a lot more demanding. Actually, nowadays, vendors must prove they have what it requires to deal with Walmart size returns long before negotiations begin. You can’t even get past the top door without showing proof that you have adequate financing.
Wal-Mart’s history is sort of a curriculum vitae for the corporate founder Sam Walton. He started his discount store in 1950 by the name of Walton’s Five and Dime. Walton had earlier operated a Ben Franklin store in Newport – Arkansas. He franchised it from 1944 to 1950 and then relocated in 1950 to Bentonville in Arkansas. He continued his connection to Ben Franklin but renamed a store to Walton’s Five and Dime.
Walton owned a tiny network of Walton’s Five and Dime stores by the late 1950s. He had realized that successful discount retailing meant passing the savings for the customers along with getting the lowest prices from suppliers. This method of Walton was in plain contrast with his competition even though the higher sales in Walton’s stores were evidence that he had discovered one that could encourage greater profits for his company.
Sam Walton owned 11 stores by 1962. He along with his wife Helen took an enormous ga.mble and reinvested everything into a new store at Rogers in Arkansas. This took over as the first branded store of Wal-Mart. This idea ended in immediate success resulting in a fantastic expansion of the manufacturer and 24 stores by 1967. Sam Walton incorporated the shops as Wal-Mart Stores Inc in 1967. In 1972, the business got listed in the newest York Stock Exchange. This provided a cash injection and allowed the organization to 125 stores by 1975 and then to 276 stores by 1980.
Wal-Mart employees also felt the main benefit of this incorporation. Many received stock options in return for loyalty. In 1970, Sam Walton began to sell shares to company over-the-counter. Wal-Mart stock was worth $47by 1971, this is not enough to help make millionaires but it increased for an amazing $49,875 per share in 1982. This was enough for college jshewx from the kids that was an ambition many Wal-Mart’s employees have held.
Step two for potential vendors is to attend a Walmart Super Center and figure out where your product or service ought to be placed. If you locate a spot you imagine should overtake then you certainly best be ready to say, “Why your products or services is much better and may be sold cheaper.” Get acquainted with your competition and who they are.
One of best kept secrets to Walmart is their LOCAL VENDOR PROGRAM. This program is one of the most effective ways to become vendor. Your product or service usually must be unique and also a local reference in some way. This system is the best way for small small business to set up shop with Walmart which allows smaller orders to get distributed inside your geographic area. Starting with a slow pace can let you receive a feel of methods Walmart operates. A Few Things I did was call my walmart Headquarters Address store and get to speak with the typical manager. We then create a period for him to look over my product. After this meeting he provided a neighborhood vendor application. I filled out the application and brought it returning to him to send in with his referral. Store managers have the power to refer any cool product they think would be great for their store. This usually pushes things along along easier and faster than likely to headquarters.