Episode 161: ["Is It Worth It, Charlie?" Series] Should I Change My Pricing Structure When Working with a Distributor?
In our latest addition to the “Is It Worth It, Charlie?” series, Charlie weighs in on whether a change in pricing structure for working with a distributor is the right move for Kirk Hutchinson, owner and founder of Power of the Almond. Power of the Almond bakes gluten-free and keto pound cakes.
Charlie and Kirk consider the following questions:
❓ Whether he should include rent in their overhead as they have a brick and mortar store
❓ How different channels such as wholesale, foodservice, or e-commerce can affect his overhead
❓ Whether expected grocery margins can support working with a distributor
❓ What other options he has instead of committing to a distributor
By the end of the episode, Kirk has a clearer picture of how he’ll move forward!
➡️ We’d love to hear more about what questions you’re considering, so come join our conversations in the Food Biz Wiz® private Facebook group to share and to stay connected with other food founders like yourself! You can also connect with Alli by sending her a DM through her Instagram page, @itsalliball!
MEET KIRK HUTCHINSON OF POWER OF THE ALMOND:
With 9 years of experience in the food service industry, Kirk decided to start his own business after COVID left him jobless. Kirk had always had the dream to start a bakery specifically for diabetics and celiacs, and the effects of COVID pushed him to pursue that dream. Kirk knew nothing about starting his own business and didn’t even know how to bake. Thanks to YouTube and lots of reading blogs and books, Kirk turned into a self taught entrepreneurial baker that went from a cottage food operation during COVID to a now 6 figure successful CPG brand in less than two years. After a year of trial and error operating a local bakery, Kirk now focuses on wholesale accounts and using his experience and knowledge to expand the business across the southeastern United States.
Check Power of the Almond out at their site here or on Instagram!
MEET CHARLIE BERKINSHAW:
Charlie Berkinshaw is our VP of Student Success here at Food Biz Wiz, as well as the Founder of Element Shrub, a RTD and concentrate beverage line, and a Founding Partner of The Fountain Inn, a spirits tasting room in Washington, D.C. Charlie supports our students day in and day out, answering questions just like this in our private Retail Ready® student community and on our bi-weekly coaching calls.
BROUGHT TO YOU BY: OUR SEPTEMBER SALES SPRINT!
This episode is sponsored by our Retail Ready® September Sales Sprint! There’s so much out there on cutting costs and knowing your numbers in anticipation of a potential recession, but what about the other half of the equation: actually increasing your revenue? In the month of September, we are focusing on increasing revenue in 30 days through 4 LIVE bonus calls for Retail Ready® students. Find our full course outline here to check out all that we cover, and watch our intro Masterclass at the link here. Or, if you’re ready to jumpstart your revenue and land in a retail community ready to support you now, sign up now at this link!