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Hi! I'm George Paukert and today I am going to show you how you can get into your own Manufacturer's Rep business with No Money and No Credit. In fact, you're about to discover that this is one of the easiest businesses you can get into.
Why is it the easiest? Any manufacturer will be happy that you want to sell his product and get paid a commission for selling it. The nice part is that you decide who, what, and where.
I am the same person who wrote :From Rags to Riches in Your Own Import/Export Business". This is a web site you should not miss. Both businesses are closely related to each other.
Briefly about my background. I was born in a communist country, Czechoslovakia. In 1968 when the Soviet tanks rolled in to "liberate" us, I left the country. When I came to America in 1969 with less than $50 in my pocket, I had no friends, no job, and couldn't speak a word of English. The reason I am mentioning this is to show you that despite the odds I had against me, I was still able to succeed. Every day someone else is beating the odds. And it can happen to YOU tomorrow!
While holding down a job as a factory worker for $1,90 an hour, I tried all kinds of side businesses. In 1970 I decided to take the plunge and opened a toy store on a shoestring ... meaning I had no money.
I persevered and built up a very successful small chain of stores. This is where I got my start in the import/export business. You can read more about this on our Import/Export Web Page.
After selling my stores, I worked as the Import Director for a major retail organization. This is also where I became acquainted with many manufacturers reps. After several years of working for someone else, I was itching to get back into my own business.
My wife, Arlene, and I decided to start our own manufacturer's rep company. And the rest is history. We went on to become very successful reps for several major coporations such as the Hitachi Corp oration (small appliances), Blue Delft (giftware), and BRA cookware (stainless steel cookware from Spain), and many more.
Now that you know I really worked this business, we'll continue. Let's begin with the question ...
What Is A Manufacturer's Rep?
A "Rep" is an abbreviation for a representative. A "manufacturer's rep" is someone who represents either manufacturers, importers, exporters, or a combination of the three. You could be a representative selling advertising space, but you would not be a manufacturer's representative.
If you think about it, our whole world revolves around someone who has something to sell and someone who can, wants, or needs to buy that something. Very often it is the middleman, or the "rep" who brings the buyer and seller together and makes things happen.
As a manufacturer's rep, you can represent anybody's product anywhere in the world ... and you can also sell it to anybody in the world. You can pick and choose products, manufacturers, and countries you like. Today, via the Internet, you could represent products from all over the world and sell those products anywhere in the world. The Internet has opened the door to a huge future business - Manufacturer's Rep and global imports and exports.
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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.
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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 ...
- People have very little or no money to start their business
- Need to start from their kitchen table
- You don't have to buy anything to get started
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.
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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.
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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 ...
- How you can start tomorrow
- You need very little money to get started
- It can be a home-based business - we did millions of dollars of business from our kitchen table
- You have unlimited earnings potential
- The importance of merchandising - even for a retail business and to learn what people will buy (not necessarily your taste)
- The importance of "brand name awareness"
- How to deal with banks
- How develop your financial statement
- How to get lines
- How and where to find buyers
- How to sell
- How to price product
- How to decide how much commission you want to make
- Information about trade shows
- Life planning and goal setting
- Suggested books to read and audios to listen to
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.
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Here is my second update. Since my last communication with you ...
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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"?
- If you have a retail business, you can definitely benefit from both books.
- If you are a buyer, you should definitely buy the Import/Export book.
- If you are a manufacturer's rep, you could probably use at least 50% of the information in both books. Besides, it never hurts to see what the other guy did and how he did it. Personally, I would buy every book on the subject. I am a strong believer that just one small idea, one sentence that can make me lots of money is worth the cost of any book.
- If you want to start any business, it is my opinion you could use both books.
- If you want to be ahead of the game and really profit, in the future knowledge of the Manufacturer's Rep and the Import/Export businesses are going to be vitally important in a global economy. The Internet makes it possible.
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 ----
How To Make $1,000,000 a Year
As a Manufacturer's Rep
- You work on commission, which could start at 4% and go up to 25%. (It can also be less, but I stayed away from lines which did not make enough profit.) Let's use 8% as an average, dealing in large quantities and large accounts.
- If your commission is 8%, you need to sell $12,500,000 worth of merchandise in order to clear $1 million.
- In order to sell $12,500,000, you need at least four (4) major lines and selling them to major accounts which have 300-1,000 stores or outlets. (e.g., K-Mart, Wal-Mart, Linens 'n' Things, Super 8 Motels)
- The rest is mathematical calculation ...
4 items from each major line(4), with 12 of each item at a cost of $65.00, makes you $5.20 in commission on each item, times 4 major accounts (stores or other outlets) or 4 major lines (manufacturers to represent)
A = 4 items x 12 PCs x 1,000 stores x $5.20 commission
B = 4 items x 12 PCs x 1,000 stores x $5.20 commission
C = 4 items x 12 PCs x 1,000 stores x $5.20 commission
D = 4 items x 12 PCs x 1,000 stores x $5.20 commission
4 x 12 x 1,000 x $5.20 x 4 = $998,400.00
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 ...
If you can get yourself into a situation like this with any of these or similar companies, guess what ...
Money will no longer be a problem!
DISCLAIMER:
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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Find out how you can get a raise WITHOUT asking your boss and bring home more money in your next paycheck! Find out how to incorporate WITHOUT using a lawyer! That's very important ... you want to be a C corporation before you start your business - NO S corporation or LLC - PERIOD!
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 ...
- Approximately 1,000 department stores
- Approximately 1,000 mail order catalogs
- And don't forget all the shoe stores, toy stores, leather goods stores, gift stores, hotels/motels, and on and on.
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.
How to Get Started on YOUR Road to Wealth as a
MANUFACTURER'S REP
I strongly suggest you visit another category, Import/Export Site . Both businesses have many similarities. In my book, "From Rages to Riches in Your Own Import/Export Business", you will find some duplicate chapters since they apply to both imports/exports and a manufacturer's rep.
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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 ...
Value of ALL 3 Certificates: $2,600 or more.
Both books contain over 700 information-packed pages!
When You Get the Import/Export |
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.)
Foreign Consular List. This publication lists the Foreign Consular Offices in the United States. It contains a complete and official listing of the foreign consular offices in the United States, and recognized consular officers. Compiled by the U.S. Department of State, with the full cooperation of the foreign missions in Washington, it is offered as a convenience to organizations and persons who must deal with consular government agencies, state tax officials, international trade organizations, chambers of commerce, and judicial authorities who have a continuing need for handy access to this type of information. (Because changes occur daily, you will need to verify the status of the person you are contacting.)
Free Trade Zone Manual. This is a very important manual for anyone in the import/export or manufacturer's rep businesses. A Free Trade Zone (FTZ) is a restricted access area in or adjacent to a port of entry and is considered to be on foreign soil. As such, merchandise can be admitted for storage, exhibition, assembly, manufacture and processing, without being subject to formal Customs procedures and payment of duties - until the merchandise is brought in for foreign consumption. Also, very important, is that quota restrictions do not normally apply.
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HOW TO MAKE $1,000,000 A YEAR AS A MANUFACTURER'S REP
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FROM RAGS TO RICHES IN YOUR OWN IMPORT/EXPORT BUSINESS
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Total Cost: $82.92
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