Helping Vendors Take Business To Next Level
More than 60 people attending a seminar on being a successful vendor were told that entrepreneurial spirit could help revitalise tourism.
The Bermuda Economic Development Corporation recently held the first of a series of workshop aimed at helping vendors to take their business to the next level.
Pat Phillip-Fairn, Chief Product and Experience Development Officer for the Bermuda Tourism Authority, was at the meeting and told the audience that entrepreneurial opportunities could help tourism.
She said: “Vendors should consider offering unique personalized products. The culture experience is the common theme amongst the BTA’s three targeted customers.
“Bermuda’s exports are the experiences that we give people. Bermuda will differentiate itself by offering a unique experience. It is the local connection that people are searching for.”
Kamilah Cannonier, whose stall has grown into the Sweet Saak Bakery, in St George’s, also attended the meeting and told the audience: “I had a plan even when I started operating out of my Mom’s house.”
She urged people to make sure they devoted the necessary time in order to take the business seriously, adding: “Business is cutthroat – you have to have the fight in you to survive.”
The BEDC offers a Microloan product, which was created specifically with vendors in mind and is the first of its kind in Bermuda.
The Microloan which is offered in partnership with Clarien Bank, allows qualified candidates to get a 100% guaranteed loan of up to $7,500 in low interest financing which can assist with the purchase of products and or capital items needed to operate the business.
Tony Thompson, Men’s Buyer and Visual Merchandiser for Gibbons Company, told the audience that changing the way in which vendors merchandise their table or booth can change a customer’s perception and invite sales.
[L-R] Erica Smith, BEDC Executive Director; Raymond Lambert, BEDC Economic Development Officer, St. George; Pat Phillip-Fairn, BTA Chief Product & Experience Officer; Tony Thompson, Gibbons Company, Menswear Buyer & Visual Planner; Quinnell Francis, Deputy Mayor, St. George; Donna Smith, Mosaic Artist and Olde Towne Market Representative; Roxanne Christopher, BEDC Economic Development Officer, N.E. Hamilton; William Spriggs, BEDC Economic Development Officer, Somerset
He said a vendors table should act as a “silent sales person” inviting potential customers over and being visually stimulating enough to tell the story of what is being sold while providing enough information on pricing on the 20 percent of the items that will make the vendor the 80 percent of their sales.
Raymond Lambert, BEDC Economic Development Officer, said: “I was very pleased with the turnout for the event and the information presented by the speakers.
“The Vendor Seminar Series is a particularly important series since it provides valuable information on how to start up and improve your own business. Vending is entrepreneurship and entrepreneurship is empowerment.”
He continued “There are numerous business owners who started out as vendors and now own their own stores.
“As this trend is expected to continue, it requires us to reach out into the community and encourage new vendors to come out and participate.
“This directly relates to the revitalization of the town since the more activity that occurs, the more people will visit and more visitors relates to increased opportunities that people will eat in the restaurants, visit the museums and buy in the shops.”
The first part of the series was held at the World Heritage Centre Auditorium last Wednesday [Apr 1]. Part 2 in the series, Making Money at Vending – will be held on April 16 at the BIU from 5.30pm – 8.30pm.
The final seminar in the series will be held on April 28 in Somerset. Those that attend all three seminars will receive a Certificate of Completion.
Those who took part in the first seminar were: Erica Smith, BEDC Executive Director; Raymond Lambert, BEDC Economic Development Officer, St. George; Pat Phillip-Fairn, BTA Chief Product & Experience Officer; Tony Thompson, Gibbons Company, Menswear Buyer & Visual Planner; Quinnell Francis, Deputy Mayor, St. George; Donna Smith, Mosaic Artist and Olde Towne Market Representative; Roxanne Christopher, BEDC Economic Development Officer, N.E. Hamilton; William Spriggs, BEDC Economic Development Officer, Somerset
For more information on this seminar and our upcoming seminars, please contact BEDC at info@bedc.bm or visit the BEDC website at www.bedc.bm.
