Jungle Scout's Million Dollar Case Study: Reviewing Samples
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We have the 3 samples that we ordered, and review them, and compare them to the suppliers profile. In the end, we decide on the Supplier that we will pursue this million dollars with!
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Jungle Scout's Million Dollar Case Study: Reviewing Samples
- 1. THE MILLION DOLLAR CASE STUDY Session #6: Reviewing Samples & Choosing A Supplier Journey to $1mil - 100% for Charity March 29th, 2017
- 2. Where are we? ▸ Decided on a Product: Baby Hooded Towels ▸ Contacted 21 Suppliers ▸ Requested & Received 3 Samples ▸ Had Follow up Conversations with 3 Suppliers
- 3. ▸ Communication: ▹ Responsive ▹ Thorough ▹ Good English Skills ▸ Product Quality ▸ Pricing ▸ Intangibles ▹ Proactive Supplier ▹ Good track record (existing customers) Criteria For Our Ideal Supplier
- 4. Improve Targeting (boy, girl, neutral) Offer a Variety of colors Premium Quality 100% Bamboo Thicker, More Luxurious Bigger Size (90x90cm) longer usability Added Value Include a washcloth Baby Hooded Towels: Our Positioning & Marketing
- 5. Good Factory 1 ▸ Good communication ▹ 8/10 with Responsiveness & English ▸ Supplier for a top listing (with good product reviews)--good quality control ▸ 3 swatches (400gsm) very soft and silky ▸ $5.40 FOB (before negotiating) for towel, box and label ▹ $0.655 USD/pc for 30cm x 30cm wash cloth ▸ Lead Time: 30-35 days ▸ Caveat: Can’t do 500gsm unless we purchase 6000pcs Small MOQ must be 92% bamboo (400gsm) or 70% bamboo/30%cotton (380gsm)
- 6. Good Factory 2 ▸ Good communication ▹ 10/10 with Responsiveness ▹ 9/10 with English ▸ Hustler, willing to make stuff happen, ie recommends included a washcloth made of waste material for $0.35 more ▸ $6.09 FOB (before negotiating): towel, washcloth, tags, and nice packaging ▸ Lead Time: 25-30 days ▸ Received two samples, 400 gsm, in two sizes: 75x75 cm and 90x90cm
- 7. Good Factory 3 ▸ Good communication ▹ 8/10 with Responsiveness ▹ 8/10 with English ▸ $7.03 FOB (before negotiating): towel, washcloth, tags, and nice packaging ▹ Getting new quote for 90x90 cm 500 gsm bamboo ▸ Lead Time: 25-30 days ▸ Received 3 samples: ▹ 400gsm 100% cotton ▹ 500gsm 100% bamboo ▹ 70x140cm rectangle
- 8. A Review Of The 3 Suppliers Supplier 1 Supplier 2 Supplier 3 Overall Friendly and helpful, just no small MOQ with 500pcs Hustler, willing to make stuff happen Friendly and supportive, not moving on price, playing up product quality Product Quality Good quality, supplier for a top seller. Swatches are exceptionally soft Good quality 500gsm 100% bamboo could create the most premium branding Price 0.655usd/pc for 30cm x 30cm wash cloth & 5.4usd/pc for towel, box and label Before negotiating, $6.09 FOB - towel, washcloth, tags and nice packaging Before negotiating, $7.03 FOB - towel, washcloth, tags and nice packaging Lead Time 30-35 days 25-30 days 25-30 days Communication 8/10 9/10, very responsive 8/10 8
- 9. Place your screenshot here 9 Challenges: Additional Consumer Safety Tests https://www.cpsc.gov/bu siness--manufacturing/re gulatory-robot/safer-prod ucts-start-here
- 10. Decisions, Decisions! ▸ Get Final Negotiated Prices/Minimum Order Quantity ▸ Draft/Sign Purchase Order Agreement ▸ Place down payment ▸ Find Third Party Inspection Service I LIKE THIS ONE =)
- 11. 11 JOIN US: Wed April 5th @ 5p PT for Webinar #7: Package Design & Branding