Are You Looking for the Good Life?
I want to take this opportunity to congratulate you for the contribution you are making to people like me by sharing your knowledge and experience.
The only limit on your earnings is yourself. I don't think there is any other business which gives you these limitless possibilities. I know some reps whom the factory owners made partners because the reps got their product to large, viable accounts. Some reps made more money than the Chairman of the Board of the companies they represent!
Ross Perot, the Texas billionaire, started as a manufacturer's rep for IBM. When he made more money in commissions than the Chairman of the Board, IBM imposed a quota of how much commission any one sales rep could earn in one year. By January 24th he had already reached his quota and would not be able to earn any more money that year. So, he quit IBM, started his own business, and made more money than he ever could have made at IBM.
A similar thing happened to me. I, too, represented a major company, went over my "quota", made more money than the national sales manager, and the company decided to limit my contract. I just moved on to other lines. Since I was the one who had the relationships with the companies, their line was dropped within the year.
I know you are saying to yourself that Ross Perot does not come across as the #1 salesman. He is short and his voice has a certain twang that annoys many people. But he didn't let these factors stop him. He even ran for President of the United States! It doesn't matter that he didn't win. He did it! So, don't let any shortcomings you think you have get in the way of YOUR success!
For some small, but good, repping organizations, making $20,000,000 a year is no problem. You can do this also -- build your OWN organization -- nothing is stopping you!
The reality is: When you first start up your business, the amount of money you want to make depends on how hard you work. After the business is established, it depends on how smart you work. You create your own luck -- yes, you'll need some of that, too.
This topic, like many of the topics on the ROAD TO WEALTH, is based on the principle of how to become a millionaire pursuing a particular business. It does not necessarily mean that you must become a millionaire. Work habits and monetary needs differ among people. For some people $100,000 a year is good, substantial income; for others, $40,000 is a dream come true.
Many of the categories on the ROAD TO WEALTH work on the principle that ...
Although it is not absolutely necessary for you to buy anything, books are available to make it easier for you and help you get over the hurdles. We want to help people accomplish the American Dream.
"How Make $1,000,000 a Year As a Manufacturer's Rep" is hands-on information. It has all the form letters and forms I used as a Manufacturer's Rep. It is a one-of-a-kind book because it is written by someone who was in this business and accomplished successes others could not.
Thanks for creating your book. It has taken my life on a new course - hard at times, but all the time fulfilling as I overcome and grow. Many people are looking for a vehicle but cannot find one. I can say the night I found your website my life change forever.
For example, in 1988 there were about 15,000 bread making machines imported to the United States. Half of them were sold by George Paukert Associates, Inc. For several manufacturers, both small and big, we were their #1 reps in the U.S. I have not seen any other book in existence with the useful information I provide because I WAS in that business. This book was NOT written by a "ghost writer."
Here's what you will learn ...
Last, and possibly most important, is a Quick Start Program for the Manufacturer's Rep business. In a few days you could be on YOUR Road to Wealth. The most important thing is to get started. Just do small steps every day. The more small steps you do, the more hours and days you work, the faster your trip will be down the ROAD TO WEALTH.
Here is my second update. Since my last communication with you ...
The Premium Business is a highly specialized business, especially the "personalized items." For us it was a fun business. But, for you it could be the opportunity of a lifetime. A full chapter is devoted to Premiums in "From Rags to Riches in Your Own Import/Export Business" although it is also closely related to being a Manufacturer's Rep.
Both businesses are important to you if you decide to become a "doer." You can start your repping business from the repping book or the import business from the import/export book. However, for both businesses you will eventually need the knowledge from both books.
What other jobs or businesses could benefit from the books, "How Make $1,000,000 a Year As a Manufacturer's Rep" and "From Rags to Riches in Your Own Import/Export Business"?
What's important is that I always teach you the most important basics ...
You took the first step by reading this web page. Don't stop now! If you don't get started, you know what will happen ----
If you play with the numbers for K-Mart which has 2106 stores and Super 8 Motel which has 1900 locations, you'll see the numbers are astronomical -- even if only a few items sell well. Below is some food for thought ...
Let's say you sell K-Mart 3 items and you sell them a dozen of each every week (which is nothing for K-mart) and you make $3 profit on each item. Here's the math ...
3 items X 12 pieces sold X 52 weeks X $3 profit X 2106 K-Mart stores = (I'm afraid to show you the number!) $11,827,296.00 gross profit!
Another good example of making money with the right product is to sell it to McDonald's or Burger King. I am sure you have seen their TV ads featuring all kinds of give-aways to kids. Both fast food chains average 1,000+ customers per location per day. Let's say they give away your item to just 10% of their customers, that's 100 items per location per day, and you make just 10 cents profit on each.
100 pieces given away daily X 365 days X 11,000 locations X $.10 profit = $40,150,000.00 in gross profit! These numbers are absolutely mind-boggling.
Look at the numbers ...
100 pieces given away daily X 365 days X 11,000 locations X $.10 profit = $40,150,000.00 in gross profit! These numbers are absolutely mind-boggling.
If you can get yourself into a situation like this with any of these or similar companies, guess what ...
The monetary results mentioned here are the results of hypothetical cases. Your level of success depends on the time you devote to the program, your finances, knowledge, and various skills. Additional factors for success are your will power and perseverance. Since these factors differ according to individuals, Road to Wealth, Inc. cannot guarantee your success or income level. Nor is Road to Wealth, Inc. responsible for any of your actions.
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It takes just about the same effort to sell a product to one account with one store or to one account with 1,000 stores. The difference is in the numbers ... the amount of work, the expense, and the time is just about the same.
Sometimes you may spend more time with an account with one store than a big account. It is the reorders which keep your cash flow going. And if you keep getting reorders on a regular basis, you WILL be independently rich!
To find major lines to represent and major accounts to sell to requires work and perseverance. Sure, there is only one K-Mart, and one Wal-Mart, but there are many, many other outlets to sell to. There are ...
Just think ... there must be hundreds of thousands of hospitals, emergency centers, and doctor's offices. Just one item -- maybe a new type of thermometer or a new type of instrument -- if you can find it and sell it to them -- think about what the commission would be.
Do you have any idea how many military bases there are that need products for their PX's? Lots of them. How about Police Departments-- how many of them are there? Thousands? More? How about the whole world? Do you see the limitless possibilities?
There must be hundreds of thousands of restaurants, maybe more, in the USA. One time I was approached by a printer/wholesaler from Canada who wanted me to represent him and sell menus to restaurants in the U.S. The menus had different designs, different quality, and different prices. You might say that you cannot go to every restaurant in the country or the world. Of course you can!
You go to restaurant trade shows where you will find thousands of them under one roof. You can easily mail your proposal to 1,000 restaurants every month. (I used to mail 10,000 advertisements a month.)
By the way, I did not take the line and he did have a superior product. However, at the time my focus was in another direction.
Let me take the time to explain something very important to you about what you should strive to accomplish as a manufacturer's rep: RESIDUAL INCOME. This becomes your monthly cash flow. After you make the initial sale, and you sell the client a good product, you can expect reorders and reorders and reorders.
We'll use the example of menus. A restaurant needs 100 every time they order. Every time they raise prices, add new entrees or a new drink, they need new menus. Of course, the menus get soiled, lost, torn, spilled on -- they need new menus.
We'll say you make $100 on each order and they change menus 4 times a year and you have 100 restaurants like this. Look at the numbers ...
$100 x 100 restaurants x 4 times a year = $40,000 income
year after year with almost no work - just maintenance.
The same principle applies to any product you sell. You can lie on the beach in Hawaii and the orders are coming and coming. Your secretary can just write up a purchase order and send it to the manufacturer. How's that for a lifestyle?
So don't despair if you don't think you can make it to K-Mart or Wal-Mart. There are thousands of accounts you can sell to. You will never run out of prospects -- there are 6 billion out there waiting. What a commission that would be -- find an item everybody in the world needs and you make $1.00 on each item. Wow! That would be $6 billion just in commission.
There are additional benefits to you as a manufacturer's rep, especially if you can team up with your spouse as I did. The reality is that it took two of us to succeed. Remember, "Behind every successful man is a hard-working wife." You could also say, "Behind every successful woman is a hard working husband." I could never have accomplished everything I did if it were not for my wife, Arlene. But, the additional benefit was that most of the time we traveled together. But, when we needed to, we could split and go to two different presentations at the same time.
We traveled extensively through the U.S.A. Since we wanted to sell to national accounts, we had to travel to their national headquarters or where they did selection of merchandise. We would usually travel on Thursday or Friday and stay over the weekend. On Thursday or Friday we would see our accounts and do business, and on the weekend we would visit places in the surrounding area we wanted to see.
Arlene and I at a marketing meeting of our cookware manufacturer at the Waldorf Astoria in New York City. We are the first two on the left.
Our favorite method of doing presentations was to rent a meeting room near the buyers' offices. We would invite buyers from various companies in the area. The manufacturers would send samples directly to that location. We would arrive the day before our meetings were scheduled and set up the displays for our lines. The buyers loved the break away from the office ... as well as the donuts and coffee!
In Minneapolis we had a few large accounts. One of them was Target (a discount store). The other was Dayton-Hudson (a department store). Both are owned by the same company, however each had different buyers.
Nashville was one of our favorite cities. A few miles outside of Nashville was the headquarters for Service Merchandise, which was a uge catalog showroom business - 600 stores. We would visit Opryland, Dollywood, drive to Memphis to see Graceland, or tour the city of Nashville. Every trip was business first and recreation later.
I took this picture of Arlene while we were waiting for the Service Merchandise buyers to arrive. The buyers loved this kind of set up. Not only did they like the break away from the office, but they liked to see the lines we represented outside their specific category. It was also very private and they could ask any questions they wanted. It created an atomosphere which made it easier to work out deals.
After a 4AM flight to Louisville and a full day of presentations, I caught Arlene trying to sneak in a quick nap before packing up.
If you prefer not to travel or have family commitments at home, you can work with local factories and clients available to you in your immediate area. That is what is so great about this business. You can tailor your business to your needs.
This was our very simple home office in the finished attic of our home. We ran a multi-million dollar business in sales from there. This was actually a promotion - we bought desks, moved upstairs, and left the kitchen table for meals!
We really enjoyed the repping business. We did what we wanted to do: Work very hard 5 months of the year, take off almost 7 months a year. We organized our time according to the buying schedule of the "big guys" who work roughly 16-18 months ahead. So, we worked hard in September, October, November, part of December, and January.
From February until the end of August, we did pretty much what we wanted to do. We would travel, work in the garden, go to the beach, visit the New Jersey casinos, shop, or visit friends and family. We would receive reorders which we, or our assistant, would forward to the manufacturers. Of course, we would attend trade shows since we were always on the lookout for new lines. We would usually combine trade shows with our travel plans.
With Your Purchase of BOTH Manuals ...
When you purchase both of the above books - the import/export AND manufacturer's rep manuals, we'll include THREE very special reports ...
DIPLOMATIC LIST. This publication covers foreign missions (embassies, interest sections) in the United States. It contains the names of members of the diplomatic staffs of these missions. Members of the diplomatic staff are the members of the staff of the mission having diplomatic rank. These persons, with the exception of those identified by asterisks, enjoy full immunity under provisions of the Vienna Convention on Diplomatic Relations. The Diplomatic List is prepared by the Office of Protocol. (Because changes occur daily, you will need to verify the status of the person you are contacting.)
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